Openbank U S Reviews

I have been trying for hours and talked to two tech customer service people to be able to log into account with no luck at all. A ‘ticket’ was written and still waiting on return message or call. The application process was very difficult and too way more than the promised ‘5 minutes.’ Update~Now A week later they have not contacted me but I discovered you have to log in by tapping the far left on the Box to enter your screen name and same for password. Now I have registered the phone but goes blank when I try to verify external bank account. Unbelievable how bad OpenbankUS is.

I created an account today, and almost immediately after confirmed I tried to login…I was locked out. I clicked forgot my password, but it’s asking for my ID. Seriously???? So glad I didn’t add money yet. I called the phone number listed in the email and it refers me back to OpenbankUS . I want all my account info deleted from their data.

I can’t give this a zero rating because it’s not an option.

I get that this is a new bank and new app, but I can’t believe there isn’t an option for recurring transfers in. I want to automatically contribute to my savings acct each month, but there is no option for automatic recurring transfers, so I guess I will have to do it manually. I’m seriously considering switching back to my other High Yield Savings at another bank, even though their interest rate is a little lower.

AVOID THIS BANK!! This bank is a scam I set up an , deposited money and have been unable to login in or access my money for over 2wks!! Call each day with no answers, just given the runaround! Told it has been escalated to Priority to resolve the issue and never hear back from them again!! Today, after over 2 weeks I was told “there is no current timeframe for a resolution” Ask yourself: What is a time frame you would find expectable to not have access to your money?!?!

Don’t fall for the APY advertised on this savings account. When you transfer money in, it takes NINE business days until it becomes “available” and starts making interest. It’s 2025, bank transfers take 1-2 days. Openbank is scamming you out of your money’s interest for two weeks, (hence why they can offer a higher rate than other accounts). Those two weeks of no interest offset any gains you would make from the slightly higher than average interest rate.

I read the reviews about the double draw problems and I thought, I’ll just be careful that won’t happen to me. The 4.75 rate was too alluring. THE SAME EXACT THING HAPPENED TO ME. Double draw, external account overdrawn, tried to cancel, now Openbank has my money locked up, I can’t access it. Support is useless, they say a review should be complete in 7 business days, then 10, then 30, then 60??? No way to talk to the department actually doing the “review”

And now they’ve lowered their rates. DO NOT BANK HERE

OpenbankUS doesn’t work AND YOU CAN NOT REACH ANYONE!! Here is the issue: to access OpenbankUS and the website you need a notification sent to your trusted device. The problem is: OpenbankUS stopped sending those notifications!! It is not even listed as an app anymore under „notifications“ on my iPhone. I can’t access my account anymore, neither with OpenbankUS nor the website!!!! And yes, I deleted OpenbankUS numerous times, yes, I turned my iPhone on and off. Oh, and the „helpline“ sends you a notification as well that you need to open to talk to them. So I tried calling anonymously. They just hang up on you before you have someone on the phone. And there is no email address, no chat bot, nothing. HELP!!!!

I had the same negative experience here as many have posted. Openbank keeps submitting duplicate withdrawal requests from my existing bank. I submitted an original transfer request when I first opened the account, but the account required authentication. The day after authentication was completed, I checked and didn’t see the original request in either new or pending transactions in the account, so I requested a separate transfer request. A day later both requests showed up in pending transactions and I called Openbank to cancel one of them. Support told me that’s not possible and nothing can be done, no accountability. The only thing was to wait for my bank to reject the transaction due to overdraw, which they did. But now Openbank is attempting to repeat the transaction, despite my request to void it and despite my bank’s rejection. And now Openbank has suspended my ability transfer funds… this is mind-blowingly frustrating. How could a consumer experience be this poorly designed??

Original review: I transferred most of my savings from my life-long trusted bank to OpenBank for the high-interest offer. OpenBank did a double-draw, causing my transferring bank to overdraft by $16,000. They kept trying to draw the $20,000 transfer amount and racked up overdraft fees. I canceled the transfer to try again at another time. It’s been several weeks and neither bank has my $20,000. Update: Several phone calls to several representatives over 7 weeks… Eventually I spoke with a representative who confirmed that my money was last with Fiserv, a financial institution that transfers international funds. The representative said they’d contact Fiserv and that I should contact the transferring bank so they could also flag Fiserv. The transferring bank confirmed the money had left my account and entered the Fed, but they have no access to further information. Another call to another representative… this time they noticed I’d been relentlessly trying to find my money. They made a special inquiry and said that their special team would be in contact with me within 4 days… they never reached out. About two weeks later I checked my balance and it had just shown up the day before. It took 7 weeks for my money to be deposited. Unbelievable.

The transfers are pretty slow, also when I am trying to add this as an external account to my other accounts using routing and account number, it just doesn’t pair up. Also, should have the ability to connect to external accounts within Openbank app using login through platforms like Plaid etc.

One of the biggest frustrations with Openbank’s app is you can only have one trusted device, resulting in you needing to get your trusted device just to sign on anywhere… this is extremely counter intuitive and any user friendly to do this. Most banks use phone numbers which is just as secure and with iOS integrations make it easier. The kicker? You sign in with Face ID (secure authentication) and have to confirm again? This makes no sense. My recommendation? Either add multiple trusted devices or change your authentication methods. Not to mention transfers take forever, 7-14 business days. Either introduce a checking account with Zelle or make transfers settle faster. Does have a high APY but is it worth the frustration? Not sure about that.

So almost every single process on the website — from logging in to setting up transfer recipients— requires confirmation on the phone app. Two problems: 1. Other than authenticating a login, why does everything else require confirmation on OpenbankUS ? It’s tedious and annoying. If you already know from the initial login that I’m authenticated, why continue? 2. And this is the bigger problem: the communication between app and web session is unreliable and so 75% of the time, even when you click “confirm” on OpenbankUS that information doesn’t get to your web session and then you’re imprisoned in some sort of openbank purgatory. Fix this!!

I recently opened an Openbank account, and so far, so good. While I’ve seen some negative reviews, I find most of them unwarranted.

One feature I’d love to see in OpenbankUS is estimated interest since the last statement, displayed on the overview card and accounts page. The ‘Interest paid YTD’ metric is helpful, but adding ‘Est. interest since last statement’ would make it even more useful, saving users from navigating multiple steps to find this information.

Other banking apps I use offer this feature, and I believe most HYSA account users would appreciate having it displayed more prominently.

I’ve been using OpenbankUS for a little over a month now without issue! It took a few days for my funds to arrive when I first opened the account, but I’ve experienced slower with other big banks.

Now I love seeing the monthly accrued interest credits hit my account! Can recommend as someone savvy with many bank accounts and offers. Really great rate.

I don’t understand the other reviews hating on OpenbankUS. It was easy for me to make an account, link it up to my other bank, and schedule a transfer. My complaints are that my wife needed to send a picture of her SS card to be a joint account holder, and that I couldn’t add my daughter’s trust as a beneficiary. But still worth 5 stars with the 4.75% rate

Setting up an account through OpenbankUS was very easy. There is a bit of a lag moving money into my account but not exceedingly long. It is quicker to transfer money out. I am hoping they will integrate with physical banks at some point so I can access my account to get cash when traveling.

I live in California and I got tired of watching my money waste away in my Bank of America account. Setup took 10 minutes. FDIC insured and Santander has $85 billion in assets. It does take a few days for transfer to show up in OpenbankUS so don’t get anxious. ;)

I'm not really sure why there are so many negative reviews? I did my new account application in OpenbankUS and it went very quickly and smoothly. I didn't have to submit any documents. The account was fully opened and ready to use within 5 minutes after starting the application process. OpenbankUS has a nice design and it's very clear and easy to use. I had to call customer service twice with a few questions and the phone reps couldn't have been more helpful and nice. It's only been a couple days but so far so good. And not to mention it's paying the highest interest in the US for a free, liquid savings account.

One of the best High Yield Savings on the market. Compared to many other competitors this is the most optimal, lucrative rate offered with No Fees whatsoever. Love how everything is handled Online & the Biometrics is secure and easy to deal with after activating mine through settings of IPhone. I had an CS Agent walk me through the process to setup and make sure everything in enabled including Push notifications. OpenbankUS has had no issues for me since logging in since. I say to those who are doubting, give it a try. The Agent representatives will definitely also help if you run into any problems down the line as they are very informative when it comes to guiding within OpenbankUS .

I switched my savings to OpenBank about a month ago and have been really impressed with both the HYS product and OpenbankUS functionality. Super easy to navigate and has great functionality. Saw some comments on the slow transfer speed- but I think this is standard and there’s visibility along the way in OpenbankUS which is great’