What Santander Bank offers and who banks there

Santander is a global bank with a significant presence in the United States through Santander Bank, N.A. and Santander Consumer USA. The bank offers checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), credit cards, auto loans, mortgages, and investment services. Santander operates physical branches in the Northeast and Mid-Atlantic regions, plus online banking nationwide.

Santander is owned by Banco Santander, a Spanish multinational bank. In the U.S., Santander Bank operates as a subsidiary and is insured by the Federal Deposit Insurance Corporation (FDIC) up to the standard limits. The bank serves both individual consumers and small businesses.

Key Takeaways

  • Santander offers traditional bank products including checking, savings, and CDs, with branch locations primarily in the Northeast and Mid-Atlantic plus online access.
  • Monthly maintenance fees on checking and savings accounts vary by account type and balance requirements, and some fees can be waived by meeting specific conditions.
  • Santander's ATM network includes its own machines plus access through the Allpoint network, but out-of-network ATM fees explore if you use other banks' machines.
  • Interest rates on savings accounts and CDs are set by Santander and change over time, so comparing rates to other banks before opening an account is important.
  • You can open most Santander accounts online or in person at a branch, and the bank requires standard identification and proof of address.

Checking and savings accounts: fees and requirements

Santander offers several checking account options, each with different monthly fees and balance requirements. The most common accounts include basic checking, interest-bearing checking, and premium checking tiers. Monthly maintenance fees typically range from $0 to $15 depending on the account type, though the exact amount varies by region and changes periodically.

Many Santander checking accounts waive the monthly fee if you maintain a minimum daily balance (often $500 to $1,500) or set up direct deposit. Some accounts also waive fees if you keep a linked savings account open. Savings accounts have similar structures, with monthly fees that can be waived through balance requirements or linked account relationships.

Overdraft fees, insufficient funds fees, and ATM fees are separate from monthly maintenance charges. Santander charges a fee when you overdraw your account or attempt a transaction without sufficient funds. Out-of-network ATM withdrawals also incur a fee. Reading the account disclosure document before opening an account shows the exact fee schedule for your specific account type and region.

Interest rates on savings and CDs

Santander pays interest on savings accounts and money market accounts, but the rate is set by the bank and changes based on market conditions and Federal Reserve decisions. Current rates are lower than many online banks offer, because Santander operates physical branches and charges monthly fees on some accounts.

Certificates of deposit (CDs) lock your money for a set term — typically ranging from three months to five years — in exchange for a fixed interest rate. The longer the term, the higher the rate is usually offered. If you withdraw money before the CD matures, Santander charges an early withdrawal penalty, which is deducted from your principal. The penalty amount depends on the CD term and is disclosed when you open the account.

You can compare Santander's current rates on its website or by calling a branch. Because rates change frequently and vary between banks, comparing Santander's rates to other banks' rates before opening a CD or moving savings is a practical step.

ATM access and branch locations

Santander operates its own ATM network, and account holders can withdraw cash from Santander machines without a fee. The bank also participates in the Allpoint network, which gives you access to thousands of ATMs at retailers, convenience stores, and other locations without a fee.

If you use an ATM that is not part of Santander's network or Allpoint, Santander charges an out-of-network ATM fee. The fee amount is disclosed in your account agreement. Using out-of-network ATMs frequently can add up, so knowing where Santander and Allpoint machines are located near your home, work, or regular travel routes matters if you withdraw cash regularly.

Santander branches are concentrated in the Northeast and Mid-Atlantic, with locations in states including New York, New Jersey, Pennsylvania, Connecticut, and others. If you need in-person banking services, check whether a branch is near you before opening an account. Online account management and customer service by phone are available to all customers regardless of location.

How to open an account and what you need

You can open a Santander checking or savings account online through the bank's website or in person at a branch. Online applications typically take 10 to 15 minutes and can be completed on a computer or mobile device.

To open an account, you will need a valid government-issued photo ID (such as a driver's license or passport), your Social Security number, and proof of your current address (such as a recent utility bill or lease). Santander also performs a background check using ChexSystems, which is a banking history database. If you have had problems with a previous bank account — such as unpaid overdrafts or fraud — this may affect your ability to open an account.

Once your account is open, you can deposit money by transferring funds from another bank, depositing a check through mobile deposit or at a branch, or making a cash deposit at a Santander ATM or branch. Debit cards are issued within 7 to 10 business days for online applications and when ready for in-person applications.

Credit cards and other products

Santander offers credit cards with varying rewards structures, cash back options, and annual fees. Some cards are designed for people building credit, while others target customers with established credit histories. Each card has its own interest rate, annual fee, and rewards terms, which are disclosed in the card's terms and conditions before you open the card.

The bank also offers auto loans, mortgages, and investment services through Santander Investment Services. Auto loans and mortgages have their own process processes and approval requirements separate from deposit accounts. Investment services include brokerage accounts and retirement accounts (IRAs), which are managed through a separate platform.

Customer service and online banking

Santander provides customer service by phone, email, and through its mobile app and website. Phone support is available during business hours, and the hours vary by service type. The mobile app allows you to check balances, transfer money between accounts, deposit checks by photograph, pay bills, and locate ATMs and branches.

Online banking through Santander's website offers the same core functions as the mobile app, plus additional features such as setting up recurring bill payments and managing multiple accounts if you have them. Two-factor authentication is available to add security to your online login.

Frequently Asked Questions

Does Santander have branches near me?

Santander branches are located primarily in the Northeast and Mid-Atlantic regions. You can search for branch locations on Santander's website by entering your zip code. If no branch is near you, you can still open an account online and conduct most banking through the website or mobile app, though you would need to deposit checks by mail or mobile deposit rather than in person.

What happens if I overdraw my account?

Santander charges an overdraft fee each time a transaction posts that exceeds your available balance. The fee amount is disclosed in your account agreement and varies by account type. You can set up overdraft protection by linking a savings account or credit line, which transfers funds automatically to cover the overdraft instead of charging a fee.

Can I open a Santander account if I have been denied by another bank?

Santander uses ChexSystems to review your banking history. If you have unpaid overdrafts, fraud, or other serious issues on record, you may be denied. You can request your ChexSystems report to see what information is on file. Some Santander branches offer second-chance checking accounts for people with banking history issues, though availability varies by location.

How do I move money from another bank to Santander?

You can transfer money from another bank using an external transfer through Santander's online banking or mobile app. You will need the other bank's routing number and your account number there. Transfers typically take one to three business days. Alternatively, you can deposit a check at a Santander branch or through mobile deposit.

What is the difference between Santander Bank and Santander Consumer USA?

Santander Bank, N.A. offers deposit accounts, mortgages, and general banking services. Santander Consumer USA specializes in auto loans and is a separate company. If you are looking for a deposit account or mortgage, you would work with Santander Bank. If you are financing a car, you may work with Santander Consumer USA, though you can also get auto loans through Santander Bank.