Santander Business Checking: 2022 Review

Consider upgrading to Santander’s mid-level Business Checking account if you can avoid the monthly service fee.

Santander Bank Basic Business Checking

Overview

The bottom line:

Santander’s business checking options fall short of its competitors', but the bank’s mid-level option is worth a look if you can avoid the monthly fee and operate a business in the Northeast.

Bank account details

Monthly fee

$7.50

Waived with $1,500 minimum balance

APY

N/A

Bonus

N/A

Pros & Cons

Pros

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    Competitive cash deposit allowance.
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    Discounts and bonus offers on merchant services.
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    Low monthly maintenance fee with multiple ways to waive it on some accounts.

Cons

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    Low transaction limits.
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    Limited free ATM access.
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    Additional fees for ACH payments.
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    Available in only nine states.

Bank account comparison

Compare to other bank accounts
3.0
NerdWallet rating
at Santander Bank, National Association (Business), Member FDIC
4.6
NerdWallet rating
read review
at Chase (Business), Member FDIC
4.2
NerdWallet rating
read review
at Novo, Deposits are FDIC Insured
Monthly fee
$7.50
Waived with $1,500 minimum balance
Monthly fee
$15.00
Waived with $2,000 minimum balance
Monthly fee
$0
APY
N/A
APY
N/A
APY
N/A
Bonus
N/A
Bonus
$500
Requirements to qualify
Bonus
$300
Requirements to qualify
Need more options? Check our picks for best business bank accounts of 2025