Santander Bank Review: Checking, Savings and CDs
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Overall institution rating
3.0
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 and high overdraft fees. You can open Santander bank accounts online, but other online banks offer much higher rates and often don’t charge any fees for overdrafts or anything else.
Best for: Those who want ATM and branch access in the Northeast, don’t care to get the highest interest rates and can meet the requirements to have monthly fees waived.
» COMPARE: Best high-yield online savings accounts
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, N.A. compare?
 Member FDIC |  Member FDIC |
|---|---|
NerdWallet rating 4.5 /5 | NerdWallet rating 4.5 /5 |
APY 4.30% With $0 min. balance for APY | APY 4.70% With $5,000 min. balance for APY |
Bonus $300 Earn up to $300 with direct deposit. Terms apply. | Bonus N/A |
Learn more at SoFi Bank, N.A. | Learn more at CIT Bank |
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.
