Are you looking to boost your finances with a straightforward bonus? Santander Bank is offering a compelling incentive for new customers. For a limited time, you can earn a $400 bonus when you open a new Santander Select® Checking, Simply Right® Checking, or Santander® Private Client Checking account. This is an excellent opportunity to not only access Santander’s banking services but also to add a significant bonus to your initial deposit.
To qualify for this attractive offer, you need to open a new checking account by December 31, 2024, and establish direct deposits totaling $5,000 or more within the first 90 days of account opening. This direct deposit requirement is key to unlocking your bonus, so let’s delve into the specifics of how you can take advantage of this promotion from Santander Bank.
How to Secure Your $400 Santander Bank Bonus
Earning the $400 bonus from Santander Bank is structured around a few simple yet important steps. Here’s a clear breakdown to ensure you don’t miss out:
- Open an Eligible Santander Checking Account: Choose between a Santander Select® Checking, Simply Right® Checking, or Santander® Private Client Checking account. Each requires a minimum opening deposit of just $25. You must use the Promotion Code at the time of account opening to be eligible.
- Set Up Qualifying Direct Deposits: Within 90 days of opening your account, arrange to have direct deposits totaling $5,000 or more. Qualifying direct deposits include your regular paycheck, pension payments, or government benefits like Social Security. It’s important to note that not all deposits count; for example, teller deposits, wire transfers, ATM or online transfers, and person-to-person payments like Zelle® or Venmo do not qualify.
- Maintain Your Account in Good Standing: Ensure your account remains open and in good standing until the bonus is paid out. The bonus will be deposited into your account within 30 days after you meet the direct deposit criteria.
Remember, the 90-day period for direct deposits starts from the day you open your account, or the next business day if you open it on a weekend or holiday.
Who is Eligible for the Santander Bank Promotion?
This offer is designed for new Santander Bank checking customers who are at least 18 years old and residents of specific states. Eligibility is limited to residents of NH, MA, RI, CT, DE, NY, NJ, PA, or FL. For Florida residents, online eligibility is specifically for ZIP codes within Miami Dade, Monroe, and Broward Counties, including ZIP code 34141.
It’s important to note that you are not eligible for this offer if you are currently a Santander checking customer or have had a Santander checking account within the 12 months prior to opening this new account. This offer also cannot be combined with any other bonus offers from Santander Bank.
Key Terms and Conditions to Note
Before you jump into this offer, here are a few crucial points to keep in mind:
- Promotion Code is Essential: You must enter the Promotion Code when you open your new account. It cannot be added later unless presented and applied within 14 days of account opening.
- Account Type Matters: The bonus is only applicable to Santander Select® Checking, Simply Right® Checking, and Santander® Private Client Checking accounts.
- Bonus is Taxable: The $400 bonus is considered interest and will be reported to the IRS on Form 1099-INT.
- One Bonus Per Customer: Even if multiple accounts are opened with the same signer or ownership, only one account will be eligible for the bonus.
- Limited Time Offer: This offer expires on December 31, 2024, and Santander Bank reserves the right to change or end the promotion at any time.
While the Annual Percentage Yield (APY) as of September 1, 2024, is modest (0.01% for Santander Select® Checking and 0.03% for Santander® Private Client Checking), the $400 bonus provides a significant upfront financial benefit. Keep in mind that rates are variable and subject to change, and fees may reduce earnings.
This Santander Bank checking account bonus is a limited-time opportunity to gain a substantial financial boost while starting a banking relationship with Santander. Visit santanderbank.com today to learn more and take advantage of this offer before it expires on December 31, 2024. Make sure to use the Promotion Code when opening your account to secure your eligibility for the $400 bonus.
