Yes—eligible Verizon customers can receive a monthly bill credit by opening a new Openbank high-yield savings account through Verizon’s designated offer and keeping enough money in it. The credit is $5, $10, or $15 per month based on the account’s monthly average daily balance, for up to 12 consecutive months. Opening an account alone does not guarantee a discount.
How much can the Verizon + Openbank offer save?
The offer sets the credit by the savings account’s average daily balance over its statement period. Verizon and Openbank’s offer terms, reviewed October 8, 2026, list these tiers:
| Monthly average daily balance | Monthly Verizon credit | Maximum over 12 months |
|---|---|---|
| $1,000–$9,999.99 | $5 | $60 |
| $10,000–$29,999.99 | $10 | $120 |
| $30,000 or more | $15 | $180 |
The $180 maximum for one account assumes you keep at least $30,000 in average daily balance through the eligible period. Two separate qualified accounts may produce up to $30 in monthly credits, or $360 over 12 months, but the offer limits eligibility to two qualifying Verizon lines/accounts and each account must independently meet its balance threshold. These are conditional credits, not an unconditional signup bonus. See the Verizon + Openbank offer terms.
Who qualifies, and how do you enroll?
The offer FAQ describes eligibility for postpaid consumer Verizon mobile customers and certain 5G Home and LTE Home accounts. Verizon Prepaid, mobile Business, Fios, and Fios Business accounts are excluded. Openbank approval is required, and availability depends on your residential ZIP code, so confirm eligibility in the application flow.
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- Start through Verizon’s offer route. Apply using the Verizon + Openbank page or the offer flow in the Verizon app. An existing Openbank account does not qualify for this bill credit; you do not need to close that account, but you must apply through the designated route for a new eligible account.
- Meet Openbank’s opening requirement. Openbank requires at least $500 to open the savings account, subject to approval and availability. That opening minimum is not enough to earn a Verizon credit: the account needs at least a $1,000 monthly average daily balance for the lowest tier.
- Maintain the balance tier. The average is calculated over the statement period. If your balance falls below a tier, your credit for that month may be reduced or eliminated. The offer lasts for up to 12 consecutive months, rather than indefinitely.
- Allow time for the credit to appear. Verizon says bill credits generally show up within two to three billing cycles after the initial Openbank statement and satisfaction of the offer terms. Do not expect the discount on your next bill automatically.
Openbank describes the account as digital, managed through its app or website. Its savings account currently has no debit card; to withdraw money, you need to link an account at another financial institution. Review the offer’s eligibility and account terms before applying.
How is this different from Verizon’s Auto Pay discount?
The Openbank credit is a balance-based offer. Verizon’s standard mobile Auto Pay discount is a separate benefit with its own requirements: paper-free billing, an eligible monthly plan, and payment by bank account or Verizon Visa Card. Verizon lists a legacy debit-card exception for customers who qualified before February 14, 2024. The current discount varies by plan: Verizon Support lists up to $10 per month on select plans and up to $5 on certain older eligible plans. Check Verizon’s current Auto Pay FAQ.
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Openbank says, “Note Verizon bill credits stack on top of what customers may already earn through Verizon’s Auto Pay discounts.” That is the companies’ description of the offer; Auto Pay eligibility still depends on Verizon’s separate plan and payment rules. A Verizon Visa Card is one qualifying Auto Pay payment option, not a requirement for opening the Openbank account. Verizon’s Visa Card FAQ describes that card and its terms.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What should you weigh before moving savings?
Compare the value of the temporary bill credit with the balance you must keep available, the account’s changing rate, and how easily you can access the money. Do not treat the credit as an investment return or move savings solely to qualify; the offer may change or be canceled, and the APY is variable.
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- Current advertised APY: Openbank by Santander advertised 3.80% APY on its partnership page when reviewed October 8, 2026. The rate is variable, may change without notice, and may vary by location; fees may reduce earnings. Openbank’s offer page says rates are effective as of 12:01 a.m. Eastern Time on the current date.
- Context, not a guarantee of best value: Openbank attributes a 0.37% national average for savings deposit products to the FDIC as of September 21, 2026. That comparison does not establish that Openbank is the best choice for your needs.
- Access and coverage: Withdrawals require linking an account at another institution. Openbank states a maximum FDIC insurance amount of $250,000 per depositor per ownership category; deposits held at Santander Bank and Openbank are combined for insurance purposes. Review the account’s disclosures and consider your total deposits at both institutions.
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