All You Need to Know About Santander Bank Fees
Santander is one of the more limited banks in the United States, servicing mostly northeastern areas. Santander charges many standard fees related to overdrafts, checking accounts, and savings accounts. However, many people don't know that it's surprisingly easy to get refunded.
Compared to bigger banking institutions, smaller banks usually offer better interest rates and credit card offers. However, you might still end up paying unfair banking charges if you don't know what can be forgiven. While Santander is usually great about refunding bank fees, DoNotPay is your most reliable backup plan.
What Are Bank Fees?
Most banks will charge you at least a few fees when you take advantage of different services. Different types of penalties and extra charges will also vary in costs depending on the account or service that you use.
Here are some of the most common :
Checking and Savings Account Fees
While many of these accounts are free to open, some of them have:
- Minimum balance requirements
- Opening fees
- Inactivity fees
- Monthly maintenance fees
Business Account Fees
Many business accounts have fees for:
- Monthly maintenance
- Minimum opening deposits
- Exceeding cash deposit limits
- Exceeding ATM transaction limits
Debit/Credit Card Usage Fees
Overdraft fees are extremely common for debit cards. This happens when you receive a charge from a vendor that exceeds the amount of money in your checking account. You can't get an overdraft fee on a credit card, but you can still go over your credit limit.
You can also incur a small fee if you use your debit card at any ATM that's not associated with your bank. Extra charges will also apply if you use your debit card in another country.
Fees Regarding Checks and Money Orders
If you walk into a bank to get a single check, a small fee is usually charged to your checking account. The cost for a book of checks varies between banks, with custom designs typically costing more.
Money orders can cost $5 to $15 if you get them at your bank. However, many banks will waive that fee if you meet a minimum balance requirement.
Bank Fees at Santander Bank
Here are the fees you can expect to pay at before any fee waivers:
- Santander Select Checking account: $25 opening deposit and $25 monthly service fee.
- Basic Checking account: $25 opening deposit and $3 monthly fee.
- Simply Right Checking account: $25 opening deposit and $10 monthly fee.
- Student Value Checking account: $10 opening deposit.
- Standard savings account: $25 opening deposit and $1 monthly fee.
- Santander Money Market Savings account: $25 opening deposit and $10 monthly fee.
- Santander Select Money Market Savings account: $25 opening deposit.
- ATM Withdrawal fees: $3 at domestic ATMs not associated with Santander.
- International usage fees: Up to 4% per transaction.
- Money orders or bank checks: $5 to $10 per money order or check.
- Wire transfers: $13 to $40 per transfer.
- Overdraft fees: $35 per charge.
How to Waive Santander Banking Fees By Yourself
Your fees will automatically be waived on certain accounts if you take the following precautions:
- For Santander Select Checking accounts, you must maintain a minimum balance of $25,000.
- For Simply Right checking accounts, simply make any transfer, payment, deposit, or withdrawal.
- For Santander Money Market and standard savings accounts, keep any active checking account.
- International ATM fees can be waived if you use a Santander bank in Mexico.
- Purchase money orders directly with either your savings or checking account.
Certain fees, like overdrafts, will not come off automatically. To fix those, you'll need to explain the situation to an experienced bank teller. You can contact Santander Bank over the phone, through the mail, or by asking a question online.
Sometimes, you may need to dispute a charge that was made in error. For example, student checking accounts at Santander should never be charged a monthly fee. If this happens to you or your child, you're well within your rights to have the charge removed.
If You Need Help With Santander Banking Fees, DoNotPay is the Answer
Although Santander can excuse many monthly fees, mistakes are still occasionally made. It can be hard to get your fees refunded if you've never had to deal with such an issue. Fortunately, DoNotPay is an expert when it comes to waiving bank fees!
If you want to get bank fees waived from Santander Bank but don't know where to start, DoNotPay has you covered in 4 easy steps:
- Open the DoNotPay Fight Bank Fees product.
- Enter the name of your bank.
- Verify the last 4 digits of your bank account.
- Choose which fees you want to waive, including overdraft, ATM, and transaction fees.
When you use DoNotPay, you'll always get:
- A fast resolution, so you won't waste any more money on unnecessary fees
- A simple experience, no waiting on hold or filling out forms
- A dependable company (that's DoNotPay!) working directly on your case
DoNotPay Provides Helpful Services for Any Bank
Need to dispute a fee from another financial institution? DoNotPay can assist with problems at:
|Bank of America overdraft fees||Chase Bank||Fifth Third Bank overdraft fees||Citizens Bank overdraft fees|
|Bank of America||Paypal||Wells Fargo||TD Bank|
Can I Use DoNotPay Outside of Banking?
Of course! We can help you find discounts on essential items, file formal complaints, and even lower your payday loans. DoNotPay products are simple enough for anyone to use, and you'll always get a quick solution to your problem!