Santander Bank checking accounts charge monthly fees between $10 and $25 depending on the account. Simply Right Checking, the primary consumer checking account, uses minimum daily balance to measure fee waivers, meaning the balance must stay at or above $1,500 on every day of the statement period. A direct deposit waiver of $500 or more per month is also available. Santander operates primarily in the Northeast and Mid-Atlantic United States.
Santander Account Minimums at a Glance
| Account | Monthly Fee | Minimum to Waive | Balance Method | Other Waivers |
|---|---|---|---|---|
| Essential Checking | $15 | Cannot be waived | N/A | Basic account, no waiver |
| Simply Right Checking | $10 | $1,500 | Minimum daily | $500+ direct deposit |
| Select Checking | $25 | $25,000 combined | Average daily combined | N/A |
| Savings | $1 | $100 | Minimum daily | Linked Santander checking |
How Santander Calculates Your Balance
Santander Simply Right Checking uses minimum daily balance. Your balance is measured at the close of business each day, and it must stay at or above $1,500 on every single day of the statement period. One day below the threshold results in the full $10 monthly fee, regardless of the balance on every other day. A large payment clearing on the last day of the month can trigger the fee even if the account held $3,000 for the prior 29 days.
Santander Select Checking uses combined average daily balance across all personal Santander accounts, which is a more forgiving measurement method that accounts for fluctuations across the month.
Santander Essential Checking
Essential Checking charges $15 per month with no balance waiver and no direct deposit waiver. It is a basic account tier for customers who do not qualify for standard checking due to banking history. The account declines transactions that would overdraft the balance.
Santander Simply Right Checking
Simply Right Checking charges $10 per month. The fee is waived when either condition is met. A minimum daily balance of $1,500 maintained on every day of the statement period waives the fee. Alternatively, receiving $500 or more in qualifying direct deposits per month waives the fee. Qualifying direct deposits include employer payroll, Social Security, pension payments, and government benefit deposits. Transfers between accounts and peer-to-peer payments do not qualify.
Santander Savings Account Minimums
Santander Savings charges $1 per month, waived by maintaining a $100 minimum daily balance or by linking the savings account to a Santander checking account. The $100 minimum daily balance threshold is among the lowest at any major US bank and is straightforward to maintain for most customers.
Santander also offers a High-Yield Savings account with no monthly fee and a competitive APY. For current rates, see the Santander savings account guide.
How to Avoid Santander Monthly Fees
For Simply Right Checking, setting up payroll direct deposit of $500 or more per month is the most reliable approach. Because Santander uses minimum daily balance for the checking waiver, customers who rely on the $1,500 balance option face a stricter standard than at banks like Chase or Citi that use average daily or average monthly balance.
For a full overview of Santander accounts and services, see the Santander Bank complete guide.
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