Openbank vs Tomorrow
Side-by-side comparison — pricing, features, ratings, use cases. Find which Neobanks fits you best.
🔍 Independently researched ·
📊 Data-driven
· ⭐ Ratings from G2 (real user reviews)
36/100
Free tier
Spanish residents who want a reliable, fee-free digital bank backed by a major banking group and who are comfortable ban
💰 Pricing
🆓 Free tier available
No monthly fees, no minimum balance; urgent card delivery or official documents may incur fees.
Fee notes:
- Monthly account maintenance: €0
- Card issuance and annual fee: €0
- SEPA transfers in EUR: €0
- ATM withdrawals in Spain and worldwide: €0
- International non-EUR transfers: approximately 0.15% commission with minimum €6 and maximum €60, plus exchange rate spread
⚠ Watch for:
- Card payments in non-EUR currencies use Visa's exchange rate, typically 0.5–1% above interbank
- International wire transfers may incur correspondent bank charges
- Rush delivery for card replacement costs extra (e.g., €15)
- No dormant account fees, but account closure may require a notary if official documents are needed
🔧 Features
✓ Free Tier✓ Mobile App✓ Santander Backed✓ Spanish Origin✓ Eu Deposit Protection
📋 Assessment
💪 Strengths
- Completely free current account: The Cuenta 1,2,3 has no monthly maintenance fees, no debit card fees, and no charges for basic transfers. You also get a free credit card (if you want) with no annual fee. This is a huge advantage over traditional banks that often charge €100+ per year for similar accounts.
- Santander backing and ATM network: Openbank is owned by Santander Group, providing financial stability and trust. More practically, you can withdraw cash from any Santander ATM in Spain for free. With over 4,700 branches and thousands of ATMs, this is unmatched by other digital banks like N26, which charge fees for ATM use outside their partner network.
- Deposit protection and security: Your deposits are insured up to €100,000 by the Spanish Deposit Guarantee Fund, giving you the same legal protection as any other EU-based bank. Openbank also uses two-factor authentication and biometric login to secure your account, and you can freeze your card instantly if lost.
- High-interest savings options: While the current account offers a modest interest rate (1.2% on the first €30,000), the linked savings account and term deposits often offer competitive rates, especially for longer terms. For example, their 12-month term deposit has offered rates around 2.5% in recent promotions, which is higher than many traditional banks in Spain.
- Integrated service: The app allows you to do everything: open accounts, manage cards, make SEPA transfers instantly, set up bill payments, and even buy investment products like mutual funds and ETFs. It's a one-stop shop for your daily financial needs, with a modern and responsive interface.
⚠ Watch out for
- Requires Spanish tax residency and NIE: You must be a tax resident in Spain and hold a NIE or DNI to open an account. This excludes tourists, non-residents, and even expats who haven't been registered for tax purposes. Many immigrants on temporary visas might struggle with this requirement.
- Spanish-only interface and support: The mobile app, website, and customer service are entirely in Spanish. The FAQ, help articles, and contact center agents speak Spanish only. This is a significant barrier for the large expat community in Spain, many of whom prefer English. Even basic notifications and security alerts are in non-translatable Spanish.
- No physical branches: All interactions are done digitally, and while that's the point of a neobank, it means no walk-in assistance. Sensitive issues like signing a mortgage or resolving complex disputes may be more difficult without a representative. Some customers might miss the ability to talk to someone in person.
- Debit card only available as virtual initially: When you open the account, you get a virtual card first. The physical card takes about a week to arrive, and if you want immediate access to cash, you might have to rely on contactless payments via your phone using Google Pay or Apple Pay. The virtual card can't be used for ATM withdrawals.
- Interest rates are not market-leading: While the 1.2% interest on the current account is decent, it's not the highest available in the Spanish market. Some other neobanks or online banks offer up to 2.5% or 3% on unconditional savings. Openbank's smart savings might not beat the rate on a straightforward high-yield savings account from a competitor.
🎯 Best for
Spanish residents who want a reliable, fee-free digital bank backed by a major banking group and who are comfortable banking primarily through a mobile app in Spanish.
🚫 Who should skip
Non-residents, those seeking English-language support, and people who prefer physical bank branches or more advanced budgeting features.
📚 Learning curve
Minimal — online onboarding is straightforward and the mobile app is intuitive, though non-Spanish speakers may face a language barrier.
🧑⚖️ Verdict
Openbank is an excellent choice for Spanish-speaking residents in Spain who want a free, reliable everyday banking app backed by a major bank. Its Santander ATM access and deposit insurance are standout benefits. However, if you're not a Spanish tax resident or don't speak Spanish, you're better off
79/100
Free tier
Eco-conscious individuals in Germany who want a mobile-first bank account that automatically supports climate projects a
★ Best
💰 Pricing
🆓 Free tier available
Basic account with features like CO2 tracking and climate investments, but no physical card, limited ATM withdrawals, and no interest
Starting at 100 Kč (subscription)
Fee notes:
- Card replacement fee: €10 for standard card, €20 for metal card
- Foreign currency conversion: 1.5% fee
- International transfer (SEPA): free, non-SEPA: €10 flat fee
- ATM withdrawal outside Eurozone: €2 per withdrawal for Future plan (max 3 free per month)
- Account closure fee: none
⚠ Watch for:
- Foreign transaction fee of 1.5% may apply even when paying in a foreign currency
- International ATM withdrawals beyond the included limits incur fees
- Interest rates are variable and may change over time
- Metal card has a higher monthly fee but the interest benefit may not outweigh it for smaller balances
🔧 Features
✓ Free Tier✓ Mobile App✓ Sustainable✓ Co2 Tracking✓ Impact Investing
📋 Assessment
💪 Strengths
- Every account balance automatically funds climate projects, regardless of your spending. This means that simply by keeping your money in the account, you're contributing to reforestation and renewable energy projects. It's a set-and-forget approach that aligns your idle cash with your environmental values.
- Automatic CO₂ tracking on transactions provides a clear, behavioral nudge toward lower-carbon choices. Each purchase is categorized and assigned an estimated carbon footprint, showing you where your biggest emissions come from. The monthly carbon summary helps you set personal reduction goals.
- Impact-linked interest rates reward sustainable usage, aligning financial incentives with environmental impact. By spending at partner businesses or making sustainable purchases, you can unlock higher interest rates on your balance—turning your spending habits into tangible financial benefits.
- A solid feature set for everyday banking: free Mastercard debit card, instant push notifications, spending analytics, and free ATM withdrawals in Germany and the Eurozone. The card is available in a CO₂-neutral variant made from recycled plastic.
- Transparent fee structure with a free Basic plan, making it accessible for those who just want a sustainable bank account without monthly fees. The paid tiers are reasonably priced compared to other premium neobanks.
⚠ Watch out for
- No free tier that also funds climate projects without a monthly fee. The Basic account has no monthly fee, but the climate project funding only kicks in with the paid Zero plan. So if you want to actively support projects, you must pay at least €3/month, which may put off budget-conscious users.
- Only available in Germany and a few other EU countries, limiting adoption for international users. The app is in German only, which can be a barrier for expats or non-native speakers.
- Lacks a physical branch network, which may be a drawback for users who need in-person services like mortgage consultations or complex account issues.
- CO₂ tracking is an estimate based on merchant category, not actual emissions. For example, a small purchase at a large retailer may be over- or under-estimated, which could mislead users who rely on the data for serious carbon accounting.
- The customer support is primarily via email and in-app chat, with no phone support during weekends. Response times can be slower during peak periods, and some users have reported issues with the chat feature in the app.
🎯 Best for
Eco-conscious individuals in Germany who want a mobile-first bank account that automatically supports climate projects and provides detailed carbon footprint tracking.
🚫 Who should skip
Anyone who needs a free bank account, lives outside the EU/Germany, or wants comprehensive business banking features.
📚 Learning curve
Minimal — the mobile app is straightforward, and the main novelty is that CO₂ tracking is automatic, so most users can start managing their finances immediately.
🧑⚖️ Verdict
Tomorrow is an excellent choice for eco-conscious individuals in Germany who want their everyday banking to actively contribute to climate action. It offers a unique mix of automatic carbon tracking, impact-linked interest rates, and transparent pricing. However, if you need in-person branch access
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseOpenbankTomorrow
Fee-Free Daily Banking in Spain95—
No maintenance fees, free Santander ATM withdrawals, and a solid mobile app make
Mobile-First Account Management92—
The Openbank app allows account management, card control, payments, and mobile w
Cash Withdrawals Across Santander ATMs90—
Access to Santander's extensive ATM network in Spain without withdrawal fees for
Secure Saving with Deposit Protection85—
Deposits are protected up to €100,000 under the Spanish EU-guaranteed scheme, ma
Paying with Mobile Wallets80—
Supports Apple Pay and Google Pay for quick, contactless payments, which is conv
Eco-conscious daily banking—95
Every account automatically funds climate projects and tracks transactions' carb
Carbon footprint tracking for personal spending—90
The built-in CO₂ tracking per transaction gives clear, itemized insight into the
Sustainable investing for beginners—85
Impact investing is integrated into the app, allowing users to start with climat
🧭 Which One Should You Pick?
Choose Openbank if...
- You are: Spanish residents who want a reliable, fee-free digital bank backed by a major banking group and who are comfortable ban
- 👍 Completely free current account with no monthly maintenance fees and no debit card fees.
- 👍 Backed by Santander Group, providing financial stability and access to Spain's largest ATM network.
- 👍 Deposits are protected up to €100,000 by the Spanish Deposit Guarantee Fund.
- 💰 Free tier available
- ⚠ Trade-off: Requires Spanish tax residency and a NIE, so it's not open to tourists or non-re
Choose Tomorrow if...
- You are: Eco-conscious individuals in Germany who want a mobile-first bank account that automatically supports climate projects a
- 👍 Directly funds climate projects from every account balance, regardless of spending.
- 👍 Automatic CO₂ tracking on transactions provides a clear, behavioral nudge toward lower-carbon choice
- 👍 Impact-linked interest rates reward sustainable usage, aligning financial incentives with environmen
- 💰 From $4.35/mo
- ⚠ Trade-off: No free tier — users must pay a monthly fee, though exact pricing is not clearly
❓ Frequently Asked Questions
Is Openbank really free?
Yes, Openbank offers a standard current account with no maintenance fees and no card fees. However, some services like international wire transfers, foreign currency purchases, or non-Santander ATM withdrawals may incur charges.
Can I withdraw cash from ATMs for free?
Withdrawals at Santander ATMs in Spain are free. Using other banks' ATMs may involve surcharges, and Openbank may also charge an additional fee.
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