Santander Bank Review 2025: Checking, Savings and CDs
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Overall institution rating
4.0
Santander Bank has thousands of ATMs and hundreds of branches mostly across the Northeast. It charges monthly fees for its checking accounts, but those fees are easy to waive. Customers nationwide can open an online savings account that pays a strong rate and has no monthly fee.
Best for: Those who want ATM and branch access in the Northeast, or those who are looking for a high-yield online savings account.
- Competitive rates on online savings accounts.
- Overdraft buffer.
- Solid regional branch network.
- Monthly fees on checking accounts (though they are avoidable).
Full review
Full review
Santander Bank
Savings
Openbank High Yield Savings
4.9
/54.9
/5APY
4.30%
With $500 min. balance for APY
Bonus
N/A
APY
4.30%
With $500 min. balance for APY
Bonus
N/A
The Openbank account from Santander comes with a stellar interest rate and no monthly fees. However, there is a $500 minimum opening deposit. While this savings account was initially restricted to customers in states outside of Santander's brick and mortar footprint, Openbank became available to online customers nationwide in April 2025.
» Find more high-rate options with NerdWallet’s best high-yield savings accounts.
How does Openbank, by Santander Bank, N.A. compare?
Up to 4.00%
$300 + 0.20% APY
4.00%
N/A
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). The ratings are incremented in tenths of a star.