Your Verizon bill could get cheaper if you open this specific bank account
Companies team up all the time for mutual gain and Verizon just landed a new partner that could bring perks to some of its users.
According to a new report (subscription required), Spanish banking giant Santander is looking to grow its presence in the US and has teamed up with Verizon to tap into the telecom giant’s massive customer base. After all, Verizon is the top mobile service provider in the US with over 140 million subscribers.
Through this deal, select Verizon customers can score bill credits – if they open a high-yield savings account with Santander’s new digital banking platform and, of course, meet specific balance requirements (because there is always a catch, right?).
In simple terms, Verizon will offer its customers the chance to lower their bills if they open and maintain a new savings account with Santander. It is a win-win for both companies: Santander gets new customers and Verizon gives its current ones a nice perk. And with prices climbing lately, I think this kind of partnership might just be a smart move on Verizon’s part.
Santander is already a major player in auto lending across the US, but it has bigger plans. The bank is using the US market to develop its own consumer banking platform, with a focus on digital-only banking and financial services. As part of this push, it is also open to new partnerships beyond Verizon to accelerate its goal of becoming a fully digital bank in the country.
While Santander is Spain’s largest bank and one of Europe’s biggest, its footprint in the US has been relatively small, but it looks like that is about to change. Last year, the bank launched Openbank, a digital banking platform, in an effort to expand across the country. So far, Openbank has secured over $3 billion in deposits and is now eyeing opportunities to roll out new products, including credit cards and cross-border instant payment solutions.
According to a new report (subscription required), Spanish banking giant Santander is looking to grow its presence in the US and has teamed up with Verizon to tap into the telecom giant’s massive customer base. After all, Verizon is the top mobile service provider in the US with over 140 million subscribers.
In simple terms, Verizon will offer its customers the chance to lower their bills if they open and maintain a new savings account with Santander. It is a win-win for both companies: Santander gets new customers and Verizon gives its current ones a nice perk. And with prices climbing lately, I think this kind of partnership might just be a smart move on Verizon’s part.
Verizon partnership is a major step forward for our strategy in the U.S.
– Ana Botín, Santander’s executive chair, March 2025
While Santander is Spain’s largest bank and one of Europe’s biggest, its footprint in the US has been relatively small, but it looks like that is about to change. Last year, the bank launched Openbank, a digital banking platform, in an effort to expand across the country. So far, Openbank has secured over $3 billion in deposits and is now eyeing opportunities to roll out new products, including credit cards and cross-border instant payment solutions.
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