This Verizon Offer Lets You Earn Interest and Lower Your Phone Bill

katimora
2 days ago
2 min read

If you’re always looking for simple ways to make your money work harder, here’s an interesting offer worth checking out.

Jar of coins and cash labeled High-Yield Savings. Phone shows Verizon $15/mo. Scissors cut Verizon bill. Banner: Save More & Lower Your Phone Bill!

Right now, Verizon customers can open a high-yield online savings account through Openbank and potentially earn interest on their savings while also receiving credits on their Verizon bill. It’s one of those rare opportunities where you can stack two financial benefits at once.

Let’s break down how it works and whether it might be worth considering.

What Is the Verizon + Openbank Savings Offer?

Verizon has partnered with Openbank (a digital banking division of Santander Bank) to offer a high-yield savings account with a competitive interest rate and Verizon bill credits. (Verizon)

The account currently offers around 4%+ APY, which is significantly higher than the national average savings account rate.

On top of that, Verizon customers can earn monthly bill credits for maintaining a certain balance in the account.

How Much Can You Save?

The monthly Verizon bill credit depends on your average balance:

$1,000 – $9,999 balance: $5 per month (up to $60 per year)
$10,000 – $29,999 balance: $10 per month (up to $120 per year)
$30,000+ balance: $15 per month (up to $180 per year)

If two eligible people on the same Verizon account each open an account, the total savings could reach $360 per year in bill credits.

And remember - you’re also earning interest on your savings at the same time.

Example: How the Numbers Could Work

Here’s a simplified example if you kept $10,000 in the account for a year:

Roughly 4% APY interest earnings: about $400
Verizon bill credits: $120 per year

Total potential value: around $520 in combined benefits. Not bad for money that’s just sitting in a savings account.

Other Key Features

Here are a few additional perks:

✔ FDIC insured through Santander Bank (up to $250,000) ✔ No monthly account fees✔ Fully online banking through the Openbank app ✔ 24/7 account access to manage transfers and balances

You can open the account with as little as $500, though you’ll need at least $1,000 average balance to qualify for the Verizon bill credits.

Who This Offer Is Best For

This deal may make the most sense if you:

Already have Verizon wireless service
Want a high-yield savings account
Have $1,000+ you can leave in savings
Like stacking multiple financial perks

If you’re already planning to keep emergency savings somewhere, earning interest and lowering your phone bill is a nice bonus.

A Few Things to Keep in Mind

Before jumping in, consider a couple details:

The interest rate is variable, meaning it can change over time.
Bill credits are currently offered for the first 12 months after opening the account.
You must have an eligible Verizon mobile account to apply.

As always, compare savings accounts to make sure you’re getting the best fit for your goals.