Santander Bank launches Essential Checking for streamlined banking experience

Santander Bank, N.A., in its latest move to enhance consumer banking, has announced the launch of Santander Essential Checking. This new account is designed to make banking more accessible and easier for customers, featuring no overdraft risk and a nominal $4 monthly fee, which is waived for account owners under 26 or at least 65 years old.

Meeting the Bank On National Account Standards

Essential Checking is recognized by the Cities for Financial Empowerment Fund, meeting over 25 features outlined in the Bank On National Account Standards. This certification indicates that the account is a safe, affordable, and useful banking offering, specifically tailored to improve customer finances.

A Range of Banking Options for Customers

Joining Santander’s suite of user-friendly checking accounts, Essential Checking allows customers the flexibility to choose an account that aligns with their personal needs and financial goals. “We are consistently adapting our offerings to create a seamless banking experience,” stated Patrick Smith, Head of Consumer and Business Banking at Santander Bank.

Reduced Fees and Added Benefits

The account offers reduced fees, including $2 for paper statements and $2.50 for domestic non-Santander ATM withdrawals, along with a 50% discount on Santander Exclusive Checks. Additional updates to Santander’s Simply Right® Checking and Santander® Savings accounts offer benefits for owners under 26 years, including waived monthly fees and reduced ATM withdrawal fees.

Evolution of Santander’s Banking Products

Following changes to Santander® Safety Net in 2022, which included eliminating non-sufficient funds fees and reducing overdraft fees, the introduction of Essential Checking is another step in the bank’s commitment to evolving its product offerings. “Our customers are at the center of everything we do,” added Smith.

Santander’s Community Commitment

This rollout is part of Santander’s broader commitment to the communities it serves, aligning with the Santander US Community Plan, which includes a three-year commitment of $4.6 billion in community reinvestment and $9 billion in sustainable finance across the United States.