Santander Bank Opens First Openbank Location in Miami Worldcenter

Santander Bank, N.A. today unveiled its first Openbank location in the United States, situated at 150 NE 8th Street within the new Miami Worldcenter. This innovative branch offers the full suite of Santander services alongside Openbank’s digital-first banking products, including a High Yield Savings account offering 10x the national average* interest rate. The new space is designed to blend personalized in-person service with advanced digital capabilities.

Openbank’s Hybrid Digital and Physical Experience:

The Miami Worldcenter Openbank branch features:

• Full Santander Bank branch services,
• Access to Openbank’s digital products, including a High Yield Savings account,
• Investment options via Santander Investment Services,
• Private meeting rooms for personalized customer consultations,
• A complimentary premium amenity bar open to both customers and the community,
• A welcoming innovation hub supporting creators, small businesses, and community members, similar to Santander’s Work Café in Coconut Grove.

Santander’s Commitment to Customer Experience:

Swati Bhatia, Head of Retail Banking & Transformation at Santander Bank and CEO of Openbank U.S., stated:
“We are incredibly proud of Santander’s commitment to designing products and experiences that customers can fall in love with. The new Openbank location is another opportunity to bridge our digital and in-person experience to deliver a truly differentiated offering. Our vision for building a digital bank with branches is becoming a reality.”

Miami Worldcenter Grand Opening Celebration:

Openbank by Santander will be the presenting sponsor for the Miami Worldcenter Grand Opening on May 22, 2025. The celebration will feature:

• A free concert with performances by DJ Irie, DJ Scotty B, Lee Greenwood, Flo Rida, Nicky Jam, Shaggy, and a block party with DJ Alesso,
• Food, beverages, and street activations,
• A special exhibit showcasing an F1 car at the Openbank location.

Santander’s Growing Miami Presence:

This new branch complements Santander’s expanding footprint in Miami, which includes:

• The Openbank digital platform launched in late 2024,
• Santander’s Work Café and offices in Coconut Grove,
• Banco Santander International headquarters in Miami,
• A network of ATMs across South Florida, including Target locations.

Openbank’s U.S. Market Performance and Plans:

Since its U.S. debut, Openbank has:

• Accumulated over $4 billion in deposits,
• Grown to serve more than 100,000 customers as of May 2025,
• Plans to introduce additional products such as Certificates of Deposit (CDs) and Checking Accounts.

Openbank is a division of Santander Bank, N.A., a Member of the FDIC***. More details can be found at openbank.us.

Footnotes:

*Interest Rates and APYs are as of TBD X, 2025. Comparison based on the national average savings rate of 0.41% as published by FDIC on 4/21/25.
**Investment services provided by Santander Investment Services, a division of Santander Securities LLC, registered broker-dealer and investment adviser.
***FDIC insurance details apply to deposits held at Santander Bank and its Openbank division. Coverage up to $250,000 per depositor, per ownership category. See fdic.gov for details

Santander Bank’s launch of its first U.S. Openbank location in Miami Worldcenter represents a strategic move to integrate digital innovation with high-touch banking experiences. This hybrid model aims to meet evolving customer expectations, supporting both local communities and the growing digital-first generation.