Published on July 20th, 2017 | by William Charles11
[NH, MA, RI, CT, DE, NY, NJ or PA] Santander $150 Checking Bonus
Offer at a glance
- Maximum bonus amount: $150
- Availability: NH, MA, RI, CT, DE, NY, NJ or PA
- Direct deposit required: Yes, $1,000+
- Additional requirements: Use promo code DIG150J8S
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: Up to $500
- Monthly fees: $3, $10-$35, avoidable
- Early account termination fee: $25 if closed within 90 days of opening
- Household limit: None listed
- Expiration date:
September 30th, 2017December 31st, 2017
- Santander is offering a bonus of $150 when you complete the following requirements:
- Open a new eligible checking account with promo code DIG15010ND
- Have direct deposits totaling $1,000 or more within the first 90 days of account opening
- Keep account open for at least 90 days and open at the time of bonus payment
The Fine Print
- You must be 18 years or older. Offer is not available if any account owner is a current deposit customer of Santander or had a Santander deposit account in the last 12 months prior to account opening.
- Offer cannot be combined with any other bonus offer.
- Eligible new account must be opened between 10/01/2017 – 12/31/2017.
- 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 IRS on Form 1099-INT.
- If multiple accounts are opened with the same signer, only one account will be eligible for the bonus.
- For the purposes of the bonus, Santander considers Direct Deposits to include deposits made by your employer or a federal or state government agency or retirement benefits administrator, and, generally, payments made by corporations or other organizations.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
$25 Early Account Termination Fee
Account needs to be open when bonus posts and in addition you need to keep it open for 90 days otherwise you will be charged an early account termination fee of $25.
There is a non-waiveable $3 monthly service fee.
Simply Right Checking
There is a $10 monthly fee that is waived when you make any financial transaction that posts during a calendar month*. Includes deposits, withdrawals, transfers or payments. Excludes fees, rebates or adjustments posted by Santander.
*based on the footnote “per service fee period”, you should interpret this to refer to a transaction posting during each statement cycle (as you would expect) — if your statement cycle does not match up with the calendar month.
Not that I think anyone here is considering this account, but there is a $35 monthly fee that is waived by maintaining $75,000 in combined balances in deposits and investments held with Santander Investment Services, OR 6,000 in total monthly direct deposits.
A $225 bonus with direct deposits of only $500 just recently ended, so this new bonus has higher bonus requirements for a lower bonus. That being said if you didn’t do that deal this one might still be worth doing as you’re eligible again if you haven’t held an account in the last 12 months (making it churnable) so you really want to start that clock as soon as possible and there is no guarantee that a $225 bonus will come back. These used to be available nationwide, but sadly state restricted now. I will be adding this to our list of the best checking bonuses.
Hat tip to DDG
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications