Openbank Welcome Savings vs Scalable Capital Cash
Two savings accounts for expats in the Netherlands, figure by figure.
Scalable Capital Cash is the stronger pick for most expats.
- Interest rate: 2.60% vs 3.10% as a promotion for 6 months, then 2.25%
| Figure | ||
|---|---|---|
| Interest rate | 3.10% as a promotion for 6 months, then 2.25% | 2.60% (better) |
| Minimum deposit | None | None |
| Access to your money | Instant | Instant |
| Maximum deposit | €1,000,000 (better) | €50,000 |
| Deposit guarantee | Up to €100,000 (ES scheme) (better) | Depends |
| Rate check | Verified 29 October 2026 | Verified 29 October 2026 |
Bold marks the better value in a row. Figures are checked daily against provider sources; each product page shows when its figures were last confirmed.
Openbank Welcome Savings
What we like
- 3.00% welcome rate for 3 months
- No minimum deposit
- Up to €1 million covered
- EU deposit guarantee (Spain)
What to consider
- Rate drops to 1.90% after promo
- Spanish bank (Santander subsidiary)
- Customer service can be slow
- App not as polished as Dutch banks
Scalable Capital Cash
What we like
- 2.00% on cash balances
- German-regulated platform
- EU deposit guarantee
- Also offers ETF and stock investing
What to consider
- Maximum €50,000 for interest
- Primarily an investment platform
- German bank (not Dutch)
- Rate may follow ECB changes
Questions
Is Openbank Welcome Savings or Scalable Capital Cash better for expats in the Netherlands?
Scalable Capital Cash comes out ahead for most expats. Interest rate: 2.60% vs 3.10% as a promotion for 6 months, then 2.25%
Which has the higher interest rate, Openbank Welcome Savings or Scalable Capital Cash?
Scalable Capital Cash pays more — 2.60% versus 3.10% as a promotion for 6 months, then 2.25%.
Are Openbank Welcome Savings and Scalable Capital Cash covered by a deposit guarantee?
Openbank Welcome Savings: Up to €100,000 per person per bank, under the Spanish deposit guarantee fund (FGD). Scalable Capital Cash: Covered only in some cases (German deposit guarantee scheme (EdB), and partner banks under their own schemes). Only for money held as deposits: without the PRIME+ plan Scalable can hold the cash in money market funds instead, which no deposit guarantee covers.