Summary Perovskite materials have experienced an impressive improvement in photovoltaic performance due to their unique combination of optoelectronic properties. Their remarkable progression, facilitated by the use of different device architectures, compositional engineering, and processing methodologies, contrasts with the lack of understanding of the materials properties and interface phenomena. Here we directly target the interplay between the charge-transporting layers (CTLs) and open-circuit potential ( V OC ) in the operation mechanism of the state-of-the-art CH 3 NH 3 PbI 3 solar cells. Our results suggest that the V OC is controlled by the splitting of quasi-Fermi levels and recombination inside the perovskite, rather than being governed by any internal electric field established by the difference in the CTL work functions. In addition, we provide novel insights into the hysteretic origin in perovskite solar cells, identifying the nature of the contacts as a critical factor in defining the charge accumulation at its interface, leading to either ionic, electronic, or mixed ionic-electronic accumulation.