Verizon is one of the biggest smartphone carriers in the United States. While the company is popular for selling some of the best smartphones and providing mobile services, it also deals in financial products like credit cards. Now, the company is going one notch up. Yesterday, Verizon announced a partnership with Santander Bank to bring high-yield savings accounts to its customers.
Verizon partners with Santander Bank to introduce a high-yield savings account
As noted in the joint press release, the official name of the high-yield savings account is “Verizon + Openbank Savings.” What’s nice about this digital account is that it will offer an interest rate that’s ten times the national average. If you are a Verizon customer, you’ll save up to $180 a year on your existing Verizon bill.
That said, you won’t get the $180 off your Verizon bill just by signing up. The company has mentioned some criteria for it. You’ll need a minimum average daily balance of $1,000 in your high-yield savings account to expect some kind of savings. The smartphone carrier also notes that “the higher the average daily balance, the higher the wireless bill savings—up to $180 per year.”
Part of the press release from Verizon’s Chairman and CEO, Hans Vestberg, reads, “Verizon has long been committed to delivering value and savings beyond wireless services. This collaboration reinforces our dedication to delivering meaningful and exclusive benefits that support how our customers live, work, play, and save.”
You can easily sign up for the account
If you feel like getting yourself a high-yield savings account, you can visit this webpage. From there, you can also check all the details about the Verizon + Openbank Savings bank account. Moreover, you can sign up for the digital savings account through the Verizon website or MyVerizon app on your device.
