Santander Bank, $150 Checking Bonus

Santander Bank is offering a $150 bonus for new customers who open a personal checking account before December 31, 2015.

Santander Checking Accounts 150

To get the bonus you need to open an eligible checking account with a minimum deposit of $25 and have direct deposits totaling $500 within the first 90 days. You need to keep the account open for 90 days and the bonus will be deposited 30 days later.

Offer is not available to current or former Santander customers who had a Santander checking account between 10/1/2014 – 9/30/2015. Bonus is considered interest and will be reported to IRS on Form 1099-INT.

The extra20 and Student checking accounts are not eligible for this promotion.

Eligible Checking Accounts

  • Basic Checking:
    • $5 ($3 in NY/NJ) fixed Monthly Fee
    • No minimum balance requirements
    • Unlimited check writing
  • Classic Checking:
    • $10 Monthly Fee waived with at least $500 in total direct deposits or when you maintain an average daily balance of $750 or more for the service fee period
    • Unlimited check writing
    • Free companion savings accounts
    • No-Fee Online Banking and Bill-Pay
  • Premier Checking:
    • Exclusive rates on deposits, discounts on loans, priority customer service, and many no-fee features
    • $30 Monthly Fee waived with $20,000 or more in combined balances in checking, savings, money market savings, CDs, IRAs, investments and loans
    • Free Companion Money Market Savings
    • Santander Wallet Exclusive checks or Santander checks or $15 discount on alternate designs

Direct Deposits

Direct deposits include deposits made by your employer or a federal or state government agency or retirement benefits administrator and generally payments made by corporations or other organizations. It does not include deposits to your Account that are made by an individual using online banking or an Internet payment provider such as PayPal.

That’s the fine print in the offer, which is pretty specific. Best option is to direct deposit your paycheck if that’s possible. However bank transfers have worked to trigger the extra20 checking bonus.

Offer Details

  • Apply here
  • Account Type: Convenience Checking
  • Availability: Nationwide
  • Expiration Date: December 31, 2015
  • Inquiry Type: Soft pull
  • Credit Card Funding: No
  • Direct Deposit Requirement: Yes (total of $500 within 90 days)
  • Other requirements: No
  • Monthly Fee: Yes (waiveable, see above)
  • Closing Account Fee: Must be kept open for 120 days to receive bonus

HT: maximizing money

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