[Expired] [NH, MA, RI, CT, DE, NY, NJ, PA, or FL] Santander $500 Checking Bonus

Deal has ended, view more bank account bonuses by clicking here.

Update 4/4/22: Extended until 7/6/22.

Offer at a glance

  • Maximum bonus amount: $500
  • Availability:NH, MA, RI, CT, DE, NY, NJ, PA, or FL
  • Direct deposit required: Yes, $8,000+ within 90 days of account opening
  • Additional requirements: None
  • Hard/soft pull: Soft pull
  • ChexSystems: Yes
  • Credit card funding: Up to $500 None
  • Monthly fees: $3 – $10 avoidable
  • Early account termination fee: $25, 90 days
  • Household limit: None listed
  • Expiration date: 4/5/22

The Offer

Direct link to offer

  • Santander Bank is offering a checking bonus of up to $500, the bonus you receive depends on the total amount of direct deposits that post to the account within the first 90 days:
    • $300 bonus when you have direct deposits totaling at least $4,000
    • $400 bonus when you have direct deposits totaling at least $6,000
    • $500 bonus when you have direct deposits totaling at least $8,000

The Fine Print

  • Get your cash bonus when you open a new eligible checking account by 4/5/2022 and have direct deposits of $4,000 or more to receive a $300 bonus; $6,000 or more to receive a $400 bonus; $8,000 or more to receive a $500 bonus post to the new account within the first 90 days, starting the first Business Day after account opening.
  • Eligible accounts are Santander ® Private Client Checking, Santander Select® Checking, Simply Right® Checking, or Santander Basic Checking.
  • All accounts require $25 minimum opening deposit.
  • Offer is transferable until redeemed by the addressee and we reserve the right, in our sole discretion, to limit the number of times this Promotion Code may be used.
  • You must be 18 years or older.
  • Offer is not available if any account owner is a current checking customer of Santander or had a Santander checking account in the last 12 months prior to account opening.
  • Offer cannot be combined with any other bonus offer.
  • Promotion Code must be entered at new account opening to be eligible for this offer, and cannot later be added to an account, or changed, unless it is presented and applied within 14 days of account opening.
  • The account needs to be open for at least 90 days and remain open in an eligible account type until payment of bonus, which will occur within 30 days thereafter. In addition, the account must remain open and in good standing to be bonus eligible.
  • Bonus is considered interest and will be reported to the IRS on Form 1099-INT.
  • If multiple accounts are opened with the same signer, only one account will be eligible for the bonus. For new checking account customers only. Offer is only available to residents of NH, MA, RI, CT, DE, NY, NJ, PA, or FL (please see additional detail on offer eligibility in Florida below).
  • Offer expires 4/5/22. This offer subject to change at any time.
  • Offer is only valid with use of a promotion code.
  • Promotion of this offer may end at any time.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

  • Basic checking has a $3 monthly fee that is not avoidable
  • Simply Right has a $10 monthly Fee, waived with one transaction* – a deposit, withdrawal, transfer, or payment – posted during the calendar month.

Early Account Termination Fee

$25 if closed within 90 days

Our Verdict

This is not as good as the $400 + $200 bonus that was available last time Santander offered a bonus. The upside to this bonus is that you can open an account that is much easier to keep fee free (previously it required $25,000+ in balances). Because of that this is worth doing for a lot of people and we will add this to our list of the best checking bonuses.

Useful posts regarding bank bonuses:
    William Charles
  • On April 4, 2022, 18:25
Tags: credit card fundingct bank bonusesde bank bonusesdirect deposit requiredfl bank bonusesma bank bonusesnh bank bonusesnj bank bonusesny bank bonusespa bank bonusesri bank bonusessoft pull

View Comments (190)

  • Deal is back. You can enter your email address to get your own promo code.
    I'd recommend to get your promo code in case they withdraw the offer earlier like Wells Fargo or Chase.
    That way you can still have a promo code to open the account.
    I want to give a shoutout to reader Gadget. He's very helpful and selfless to help this community.
    That's why I want to help too.
    https://www.santanderbank.com/pages/personal/checking-accounts-bau

    @chucksithe @will

      • I haven't tried Wells Fargo myself. But I'd be careful. Wells Fargo is very sensitive to fraud nowadays. If they see you transfer 5k or even 1k for 5 times, they may disable your online banking and have you call them to clear that. You don't have to do a 3 way call with Santander and Wells Fargo. I would prefer doing other kinds of three way, not the kind with 2 banks. @guest_1669209 @guest_1350484

      • Sure, Margy. How far is the nearest branch to you? Can you drive there or take public transportation? @guest_1402666 @guest_1402655 @guest_1668865

        • Not close enough to be worth it; besides, last year when I tried applying for the 500 bonus, I was turned down for inability to verify information; no idea why so not willing to make trip anyway! BTW, I would avoid WF like the plague...last year after getting approval and being assigned an account number and setting up transfer to do initial funding, they closed the account later the same day. They couldn't tell me why other than part of routine fraud screening. They did NOT automatically void the funding transfer, however, and gladly took my money. I waited a few days for a reversal that never appeared, so had to call and they claimed they couldn't find it since there was no open account for it to go to! It took a few days to sort out and a week to get the money redeposited to me only after fighting for it. I should have known better as I've had a bad experience with them in the past. I wouldn't try them again if they had a million dollar bonus...well maybe. haha

          • Sorry to hear that, Margy. Yeah I hope that you'd have a P2 to figure out all these stuff with you. It's more fun to play this with more people

          • LOL my P2 doesn't figure any of this stuff out (I'm the numbers person and do all the financials/taxes myself), but yea, I do have a two-person team to use. I usually apply in his name first for accounts because my s/s is in my maiden name but driver license in married name which can cause issues. I actually did Santander and Wells Fargo in his, but once they didn't work, didn't bother to try mine. We have various accounts elsewhere and I've never encountered a problem before. Don't churn a lot but did open an account in February and 2 in May last year before the Santander and WF attempts in July so maybe it was a ChexSystem issue. Hopefully if Santander is transitioning to being an on-line bank, they'll start some juicy new offers via on-line and I'll try again!!

    • This bonus amount may not be as good as the last one. But I’d recommend to do it now.
      Couple months ago, Santander just closed a lot of branches in Boston area, which is where their are HQ’ed in.
      One of their Executives said on Yahoo Finance that they’re transitioning to an online bank. Maybe similar to Discover or Ally….

  • it's unusually strange that Santander hasn't rolled out some sort of bonus by now.

    Should be any minute now

    any month now

    ......

    any year now...

    *whistling quietly*

  • Received a targeted mailer today from Santander:
    - $300 checking bonus w/ $5,000 DD within 90 days.
    - $300 savings bonus w/ $15,000 deposit for 90 days.

    Hopefully the mailers are being sent out a bit ahead of another public bonus?

  • 5/19/22 - Opened account, MA resident
    8/05 - Met requirements for $6000 direct deposit through payroll deposits
    8/16 - $400 bonus posted

  • 7/5/22 - Opened Account
    7/12/22 - Wells Fargo ACH of $2022.16
    7/18/22 - Wells Fargo ACH of $2022.16
    8/12/22 - Wells Fargo ACH of $2022.16
    8/26/22 - Wells Fargo ACH of $2022.16
    10/4/22 - Bonus Received
    12/14/22 - Account Closed with $0 balance

  • 6/27 - opened account
    9/23 - met requirements for $5000 direct deposit through payroll deposits
    9/30 - received $500 bonus

  • DP: I used both Cap1 and Wells Fargo. One (or both) of them worked to trigger the bonus today. 90 days from opening.

    • Thanks Zeus for sharing this DP. I'm surprised that WF didn't trigger a fraud alert to lock people's account up when they DD several thousands dollars out....

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