Santander Bank Review: Checking, Savings and CDs

Santander Bank offers solid options for basic checking, savings and CDs. But rates are generally low.
Margarette Burnette
By Margarette Burnette 
Edited by Yuliya Goldshteyn

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Santander Bank, National Association

    Overall institution rating

    3.0

    NerdWallet rating 
    The bottom line:

    Santander Bank has thousands of ATMs and hundreds of branches, mostly across the Northeast. It charges monthly fees for its checking and savings accounts, but those fees are easy to waive. Just watch out for low interest rates.

    Pros

    • Overdraft buffer.
    • Solid regional branch network.

    Cons

    • Low rates.
    • Monthly fees (though they are avoidable).
    • Cannot open some accounts online.

    How does Santander Bank, National Association compare?

    NerdWallet rating 

    4.5

    /5
    NerdWallet rating 

    4.5

    /5

    APY 

    4.60%

    With $0 min. balance for APY

    APY 

    5.05%

    With $5,000 min. balance for APY

    Bonus 

    $300

    Earn up to $300 with direct deposit. Terms apply.

    Bonus 

    N/A

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    Methodology

    NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, banking experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing technology, customer service and innovation. The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.