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Peek
Peek

William Charles Looks like the $300 offer is dead. 225 offer seems to be available but the 300 offer link gives a 404.

T
T

Looks like it’s dead.

Shawn
Shawn

Opened a “Simply Right Checking” account and funded $500 using BOA cash rewards card (hope it works as an online purchase for 3% cashback). Since I had an account with Santander before they just gave me the same user ID and it looks like my daily mobile check deposit limit is $15000. For some reason Ally bank won’t let me verify the account instantly and it needs trial deposits.

Warning: I noticed that paper statements were activated on the account. There is a $3 fee for that. I don’t recall making a choice while opening the account. It could be related to my previous account, maybe the rep that closed my account enabled paper statements and it carried over to the new account.

Kevin
Kevin

DP: Just want to add that it doesn’t seem to work for Fidelity Visa Rewards CC as it was declined. I called Fidelity card services and was able to confirm that was a legitimate transaction. Tried again and still declined. Called customer service and asked if it was a cash advance transaction. He confirmed that it was. The first time I tried failed due to fraud alerts and the second time actually did go through initially but Santander might have some network issue according to the Fidelity rep and the amount was returned back to the card.

I could have sworn I had a cash advance limit of $10 set on this card but when I asked about it, he told me that it’s not possible. The card must have between 15% to 25% cash advance out of the total credit limit. This would definitely set me way above that $500 limit and glad it didn’t get processed for whatever reason.

Guess it’s time to look for another card where cash advance limit is $0 or very low.

Dave
Dave

$500 Discover IT funding processed as purchase

anthony
anthony

How do you figure out average daily balance? I funded $500 with a credit card and then added $1600 3 days later. So It was under $2000 for 3 days. Does the extra $100 cover that? I don’t want to tie up my money and miss out on the bonus.

Peek
Peek

anthony Going exactly by the terms you need an average daily balance of 2000 dollars for 90 days from the day the account is opened. So based on your info you funded $500 at account open so you had 500 for 3 days, then you added 1600 so you have:

Day 1: 500
Day 2: 500
Day 3: 500
Days 4 – 90: 2100

So 87 days at 2100, 3 days at 500 = 184, 200 divided by 90 days gives an average of 2046 a day so you should be good. This is being a bit conservative since you said you had 2100 on day 3 but I was erring on the side of caution. This is assuming you don’t pull anything out until after 90 days.

EdwardD
EdwardD

Has anyone automatically received confirmation (via Santander’s welcome email or package) that you are enrolled in the $300 promotion? I did not get any confirmation.

jimmy
jimmy

i dont think they give any confirmation, you gotta make sure you used the promo code to sign up

Jeff
Jeff

I did receive the $300 bonus confirmation via mailer. It was on the last page of a stacked paperworks. Guess you can wait for a couple of days more and you will see it in your mailbox.

Suedehead
Suedehead

Just adding a datapoint, I funded $500 with my Citi / AAdvantage Platinum Select and did not have any cash advance fee.

Jeff
Jeff

I used BofA Alaska for $499 funding, coded as purchases. No fees.
The Santander account comes with $1,000 daily deposit limits (and also $3,000 monthly limits) so I cannot deposit another $2k to hit the requirement in the same day.
Also it seems that Santander charges $13 for incoming wire transferring, not sure about ACH. I’d better write a check to avoid the fees.

CJK
CJK

Used Citi Prestige for $500 funding. Called Citi beforehand to lower cash advance limit to $0. Worked with no fees. Seems like new DP. In addition counted as online purchase so got current 5x promo points.