How can I transfer money in or out of my High Yield Savings account?

A number of different options are available to you at Openbank:   

Transfers between your own Openbank and/or Santander Bank accounts 

These transfers – which are sometimes called internal transfers – seamlessly move money between the different accounts you own at Openbank and Santander Bank. Internal transfers made before 10:00 PM ET on a business day are processed the same day. Those made after 10:00 PM ET on a business day – or on a non-business day – will be processed on the next business day.

Transfers to or from another Openbank and/or Santander Bank customer  

Transfers made before 10:00 PM ET on a business day are processed the same day. Those made after 10:00 PM ET on a business day – or on a non-business day – will be processed on the next business day.

Transfers to or from external accounts 

There are two types of transfers with external accounts: inbound and outbound. In an inbound transfer, you send money to your Openbank account from an account at another bank or financial institution. For an outbound transfer, you can set up an external account as a transfer recipient and then transfer money to that recipient. 

You can also set up a scheduled or recurring outbound transfer from your Openbank account. Available frequencies for recurring transfers include weekly, bi-weekly, quarterly, semi-annually, and annually.  

  • Outbound transfers (from Openbank to external accounts): 
    Outbound transfers requested before 12:30 PM ET on a business day typically process in 1-2 business days. Those requested after 12:30 PM ET on a business day – or on a non-business day – will start that 1-2 day process on the next business day. 
  • Inbound transfers (from external accounts to Openbank): 
    Inbound transfers typically process in 1-3 business days. 


Wire transfers 

At this time, Openbank offers only incoming wire transfers. We expect to make outgoing wire transfers available to our customers in the coming months.  

  • Incoming wires received before 6:00 PM ET on a business day are credited to the available balance on your account on the same day. Those received after 6:00 PM ET are credited on the next business day.  
  • Openbank does not charge a fee for incoming wire transfers; however, please note that the sending bank may charge a fee. 
  • You’ll need to provide your routing and account information to the sending bank. You'll find this info on the Openbank app: sign in to your account > select Transfer and pay at the bottom right corner of your screen > select How to receive a wire transfer


Real-Time Payments® (RTP) 

Santander Bank is a participant in the RTP network, and Openbank is a division of Santander Bank.  At this time, Santander Bank and Openbank division customers are able to receive RTPs but not send them. 

For information on how to receive an RTP, please click here.