Santander Extra20 Will End In June

Santander used to have a great offer with their extra20 Checking and extra20 Savings account. You just needed a direct deposit of $1,500 or more and 2 billpays per month to earn $20 monthly which was deposited into you savings account. Most people have automated these transactions. I have $1500 going back and forth from Alliant to Santander and two monthly payments to one of my credit cards.

extra20 Checking Santander

Back in November 2015 they stopped accepting new applications for the account. Now they will end it for existing customers as well. The final extra20 bonus payment will be the bonus for the statement ending in June. July 1 they will be switching the extra20 Checking to Simply Right Checking and extra20 Savings to Santander Savings. Account numbers will not change.

I opened two accounts back in 2014, so I’ll have about $800 in total by the time it’s all over. Sad to see this one go.

They do have a $150 checking bonus offer going on, if you don;t have an account with them.

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5 thoughts on “Santander Extra20 Will End In June

  1. Wow, I didn’t realize Alliant CU triggered the $1,500 requirement. This still works correct? Will be phasing out employer DD and setting up Alliant so that I can remove it quickly come the end of June. This will allow me to not keep the account open an extra month to ensure there’s no lagging payroll issue with employer DD.

      • Ha! You have a great point there. I didn’t even think of that until you mentioned it. It is after all a new product. I will have to look at the fine print and see if there’s any restrictions on if you’ve had a Santander account in the last XX months/year.

        Plus we (me) know now that Alliant works. I’m still actually waiting for my account to be opened with Alliant. Had to submit more documentation as they had requested it after some initial information was conflicting (I guess). At any rate, I found out there is no hard inquiry for the joint account holder (second person added) if you apply via snail mail where as you would get dinged if done online. It’ll be my primary account going forward. Heard nothing but great things about Alliant.

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