The Openbank Visa Credit Card offers a fully digital application process with no issuance fees.
It includes flexible payments, travel perks, and international usage features. This guide explains how to apply in a clear, step-by-step format.
How to Apply for the Openbank Visa Card?
The application process is simple and can be done in just a few steps. Before starting, you should understand how the process works and what you’ll need to provide.
Step 1: Calculate Your Payment Options
Before applying, Openbank lets you calculate the potential cost of your credit. You can select your preferred payment method, term, and limit.
Choose between interest-free monthly repayment or financing from 2 to 36 months. The simulation helps you evaluate your financial needs more accurately.
Step 2: Enter Your Main Information
Now it’s time to fill in your basic personal details. You must select the account you want to link to the credit card. Then, confirm your name, address, and contact information.
Ensure the data matches the information on your identity document. This ensures the approval process won’t be delayed. Accuracy is important here.
Step 3: Review the Pre-Contractual Information
You’ll be shown the card’s legal and financial conditions before continuing. This includes the SECCI, APR details, and your financial obligations.
One-month interest-free plans show 0% APR and 0% NIR, while long-term options use 14.93% APR (14% NIR). Review all cost examples and repayment terms carefully.
Step 4: Sign the Contract and Finalize the Process
Once your information is confirmed, you can sign the contract digitally. If pre-approved, you’ll get instant access to your virtual card.
The card is active right away for online purchases. A physical card will be mailed and can be activated in the app.
Card Delivery and Activation Timeline
After approval, your card is delivered or activated quickly. You’ll have both physical and virtual options depending on your choice.
Physical Card Delivery Schedule
Your physical Openbank Visa Card usually arrives within 3 to 9 business days. Delivery time depends on your location and chosen shipping method.
You can track the shipment directly in the app. While waiting, use your virtual card without extra charges.
Virtual Card Activation
The virtual version of your card is available immediately after approval. You can add it to Apple Pay or Google Pay for instant use.
It shares the same credit limits, security settings, and alerts as the physical card. You’ll set your PIN when activating it in the app.
Key Features and Benefits of the Card
The Openbank Visa Card is more than just a credit line. It gives you flexibility, travel options, and modern features.
Flexible Payment Plans
You can choose how you repay your purchases. If you repay within one month, there’s no interest—0% APR and 0% NIR. For longer periods, you can split the payment into 2 to 36 months.
This comes with a 14.93% APR and 14% annual NIR. It’s suitable for both short-term and long-term financing. You control the repayment plan that works best for you.
Currency Usage with No Extra Fees
You can pay in any currency 24/7 without foreign transaction fees from Openbank. This includes weekends and holidays.
It’s useful for online shopping and international travel. However, Visa may apply a markup to the exchange rate. Openbank does not control this markup. You still avoid bank-related charges.
Optional Travel Benefits and Perks
This card includes useful travel options, but they are turned on only when needed. You pay a small monthly fee to activate them.
Flexible Subscription Model
The travel perks are available for €2.99/month. You can activate or deactivate them anytime. The plan does not renew automatically, giving you more control.
Once activated, you get 5 free ATM withdrawals worldwide. Travel insurance is also included. These benefits are ideal for short trips abroad.
Insurance Coverage While Traveling
When subscribed, you are insured by Santander Seguros. This includes travel assistance and coverage during unexpected situations.
The coverage is valid only when the travel subscription is active. It protects you from loss, delay, and emergency expenses. The service is linked directly to your card. You don’t need to sign up separately.
Fees and Important Cost Details
Even though the card has no issuance or renewal fee, other charges may apply. Let’s break them down clearly.
Regular Charges and Conditions
- ATM withdrawals cost 3.90%, with a minimum of €3.90.
- Withdrawals outside the EU charge 4.5% of the amount.
- Purchases in foreign currencies have no fee from Openbank.
- However, Visa may apply a markup on the exchange rate.
- SMS alerts and virtual card access are free of charge.
Transferring from your current account to the card is free, but the reverse costs 3.90%.
These fees can vary based on usage. Check the current rates on Openbank’s website.
Contactless Payment and Credit Limit
The card supports modern payment technology and offers a decent limit. It’s designed for both daily use and larger purchases.
Ease of Use with Contactless Tech
The card includes contactless support for payments under €50. Just hover your card or phone at the terminal. For larger payments, your PIN will be required.
It speeds up checkout time in physical stores. The feature also works with mobile wallets. It’s convenient and safe to use.
Monthly Credit Limit Range
You can receive up to €6,000 in credit per month. This depends on your financial profile and approval status. The amount is reviewed by Openbank during the credit check.
Responsible use can help increase your limit over time. The limit applies to both virtual and physical cards. It’s suitable for moderate to high spending.
Security and Verification Tools
Security is a priority for Openbank. From PIN verification to 3D Secure, your transactions are protected.
Tools That Protect Your Purchases
Each transaction must be verified with your PIN or 3D Secure Code. You also get real-time SMS alerts for every purchase. These alerts are free and provide immediate confirmation.
The app allows you to lock or unlock your card at any time. This adds a layer of control and safety. You’re notified of any suspicious activity instantly.
Travel and Daily Insurance
Cardholders receive insurance coverage from Santander Seguros. This applies to both travel situations and everyday use. You don’t need to pay extra for basic protection.
The insurance includes theft, delay, and emergency medical costs. All coverage is tied to card usage. It adds peace of mind for frequent travelers.
Cancellation Policy and Right to Withdraw
Openbank offers a cooling-off period after you receive the card. This gives you flexibility if you change your mind.
How to Withdraw Within 14 Days
You can cancel the contract within 14 calendar days of activation. You must inform Openbank using the method stated in SECCI. If you already spent money, you must repay the balance.
No fees apply if you cancel within the deadline. You won’t be charged interest during this time. It’s a safe way to reconsider your choice.
What Happens to Outstanding Balances
Any outstanding charges must be cleared before final cancellation. You will receive a closing statement with the total due.
Partial repayments are not accepted for cancellation. Ensure all card usage stops before withdrawal.
The card must also be destroyed securely. Openbank closes the account once the balance reaches zero.
Approval Process and Credit Risk
Your application must pass a credit check to be approved. Openbank reviews your financial details before issuing credit.
How Does Openbank Assess Your Profile?
They examine your income, banking history, and current obligations. A good track record helps increase your chances of approval. If you’re already a customer, the process is faster.
Pre-approval may be granted based on account activity. Additional documentation may be requested. Keep your financial records up to date.
When Applications Get Declined?
If your profile does not meet the requirements, the card may not be issued. You will be informed of the decision promptly. Re-application is allowed after some time.
Make sure to correct any issues before applying again. Having a stable income and a low debt ratio helps. You can also request a lower credit limit initially.
Final Thoughts: Apply with Confidence and Clarity
The Openbank Visa Card offers digital convenience and features suited for modern users.
It supports contactless payments, has no issuance fees, and includes flexible repayment options. The entire process from application to usage is simple and secure.
Disclaimer: Information may change over time and is for general guidance only. Always check the official Openbank website for the latest updates. Terms, rates, and features may vary without notice.
