Santander Bank is again offering new business checking account customers a bonus for opening a new Business Checking or Business Checking Plus account. Previously this was a tiered bonus with the more you deposited, the more you could earn; however, it's a flat offer this time around.Like before, the balance requirement is based on an average daily balance. That means you don't necessarily need to deposit $2,500 on day one, but the longer you wait to make a deposit, the higher the deposit needs to be in order to average out. They provide more details in the fine print!
Keep in mind that, like most business accounts, you'll need to go in-branch to open. Be sure to mention the promo BUS500Q124SEA to enroll in the offer.
How To Earn The Bonus
The Santander Bank Business Checking promotion requires you to deposit and maintain a minimum balance in order to earn the up to $500 bonus (step-by-step breakdown is listed above!).
As with any offer, don't forget to read the fine print before opening your new account. It's where the bank will clearly state who is eligible for the deal along with any nuances you'll want to be aware of.
The fine print
- Your business must not currently have, nor have had, any business checking account with Santander Bank, N.A. (“Santander”) in the last 12 months.
- The average daily balance is the sum of the Current Balance at the end of each day for 90 days, from the first business day the account is opened, divided by 90.
- Your Promotion Code must be entered at new account opening to be eligible for this offer.
- The Santander business checking account must be open and in good standing to receive the bonus.
- Santander reserves the right to decline to open an account in their sole and absolute discretion.
- One cash bonus per business entity as identified by Taxpayer Identification Number (TIN).
- Offer is subject to change at any time, including that it may end.
- Offer is only valid with use of a promotion code.
Open a Business Checking account before the bonus expires on December 31, 2024
How does this business checking offer from Santander Bank compare?
To help you determine how this bonus stacks against the rest, here are some of the most popular offers available right now:
Chase
Chase Business Complete Checking®
- Bonus
- $300
- Account Type
- Business Checking
- Expires In
- 29 days
- Requires
- Min Balance
- Card Spend (optional)
Axos
Business Interest Checking
- Bonus
- up to $400
- Account Type
- Business Checking
- Expires In
- 15 days
- Requires
- Min Balance
- Bill Pay
- Card Spend
Bank of America
Bank of America® Business Advantage Banking
- Bonus
- $200
- Account Type
- Business Checking
- Expires In
- 378 days
- Requires
- Min Balance
Why Santander Bank?
Santander Bank is a subsidiary of Santander Group – a Spanish financial services company.
The Spanish mother company was founded in 1857, making it over 160 years old. In the US, however, Santander Bank was previously called Sovereign Bank, founded in 1902.
Santander Bank is based in Boston, and they service the Northeast and Florida with 650 retail banking locations and more than 2,000 ATMs. Its current deposits amount to $57.5 billion.
Learn more in our Santander Bank review
Santander Business Checking
Fees
Santander Business Checking does charge a monthly maintenance fee of $15, but there are ways to get this waived:
- Maintain $5,000 average daily checking balance.
- OR, maintain $10,000 in combined business deposit balances.
- OR, receive one or more Santander Merchant Services payments in your account within the service fee period.
- OR, incur $50 or more in cash management service fees within the service fee period.
- OR, have 3 or more purchases using a Santander Business Debit Mastercard post into your account within the service fee period.
Business Checking Plus
Fees
Business Checking Plus does charge a monthly maintenance fee of $50, but there are ways to get this waived:
- Maintain $40,000 average daily checking balance.
- OR, maintain $60,000 in combined business deposit account balances.
- OR, receive one or more Santander Merchant Services payments in your account within the service fee period.
- OR, incur $50 or more in cash management service fees within the service fee period.
Apply now for a Business Checking account to earn the up to $500 bonus offer
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