Santander Bank, while headquartered in Spain, offers attractive promotional bonuses to U.S. customers, particularly in states along the East Coast. If you live within their service area, opening a new account could earn you a substantial cash bonus – provided you meet the eligibility requirements.
Current Santander Bank Promotion: $400 Cash Bonus
The primary promotion running as of November 2025 is a $400 cash bonus for new customers opening a Simply Right® Checking Account.
To qualify, you must deposit at least $5,000 in direct deposits into the account within the first 90 days of opening it. After 90 days, the $400 bonus will be credited to your account within another 30 days.
Here’s a breakdown:
- Bonus Value: $400
- Direct Deposit Requirement: $5,000 total within 90 days
- Expiration Date: December 31, 2025
- Monthly Fee: $10 (waivable with at least one transaction per month – such as a deposit, withdrawal, or payment)
Expired Promotions & Past Offers
Understanding past Santander promotions can give you insight into potential future offers. Previously, Santander ran a referral program where you could earn up to $500 annually by referring friends and family. Each successful referral (opening a qualifying account with a minimum deposit and direct deposits) earned you a $50 Visa Prepaid Card, up to 10 referrals per year.
How to Open a Santander Bank Account
You can open an account either online or in person. To open an account online, you’ll need your Social Security number, email address, and a debit or credit card to fund the initial deposit.
If visiting a branch, bring:
- Two forms of identification (one government-issued photo ID, plus another form like an ATM card or utility bill)
- Your Social Security Number (or Individual Taxpayer Identification Number)
- Your current address and phone number
- Your bank account details (account number and routing number) to fund the new account.
Santander vs. Competitor Bank Offers
Santander’s $400 bonus is competitive. Here’s how it stacks up against other banks:
- Chase Total Checking: $300 bonus with $500 in direct deposits within 90 days.
- Wells Fargo Everyday Checking: $325 bonus with $1,000 in direct deposits within 90 days.
Santander’s offering is slightly higher, making it an attractive option if you can meet the $5,000 direct deposit requirement. The monthly fee is easily waived with minimal account activity, adding to the value.
Is Switching to Santander Worth It?
Promotional offers are enticing, but consider your overall banking needs. If Santander offers the products and services you require, the $400 bonus is a compelling incentive.
Ultimately, evaluate whether Santander aligns with your financial goals before making the switch.
Additional Resources
- Santander Bank Review
- Santander Bank CD Rates
- Santander Bank Routing Number
Data accurate as of November 17, 2025, and subject to change.
