Small Business Resources – Deposits, Payments & Transfers | Santander Bank - Santander
Checking & Savings Resources – Deposits, Payments, & Transfers
Find answers to common questions on when deposits are available, how to make bill payments, place stop payments, set up automatic transfers, and more.
What is the difference between Current/Ledger Balance and Available Balance?
Your Current / Ledger Balance is the previous business day’s ending balance, plus or minus the full amount of any transaction made during the current business day, provided that we have received such transaction.
Your Available Balance is the amount of your Current Balance that is available for immediate use. Certain pending items, such as check deposits or withdrawals that have not yet posted to your account, are not included in your Available Balance.
For example, your prior day’s Current/Ledger balance is $100. Today's credits total $25 (you deposited $25 cash at your local Branch), and today’s debits total $10 (you withdrew $10 at an ATM). Your Available Balance would be $115. However, if you had deposited $25 in a check, that check would not be immediately available so your Available Balance would be $90.
How can I send or receive a wire transfer?
You can SEND a wire transfer through Business Online Banking.
To RECEIVE a wire transfer into your Santander Bank account, you will need to provide the following information to the originating bank.
- Your full name and mailing address (cannot be a PO Box)
- Your Santander Bank account number
- SWIFT Code - SVRNUS33
- Santander Bank routing number
If your account has 11 digits, your ABA/Routing number is 011075150
If your account has 10 digits, your ABA/Routing number is 231372691
If the depositing bank requires an address for Santander Bank, please use the following address:
Santander Bank N.A.
601 Penn Street
Reading PA 19601
Refer to the Business Deposit Account Fee Schedule for wire transfer fee information.
Can I cancel an ACH or wire payment that was entered in Mobile Banking?
Wire payments (available in Business Online Banking and the Business Banking App)
In most cases, a wire payment cannot be cancelled and we cannot guarantee that requesting cancellation of a pending payment will result in cancellation.
You may cancel or edit a future dated scheduled or recurring (automatic) transfer until the transfer enters processing. One-time transfers scheduled for the same day may not be edited or canceled.
You may request cancellation of a pending payment in the Business Banking App by going to the "Transfer & Pay" tab on the side menu and selecting "Pending"; tapping on the pending payment you wish to request be cancelled; and choosing "Cancel Transfer."
Can I see my pending ACH or Wire payment completed in Mobile Banking?
Yes, by accessing the "Transfer & Pay” tab on the side menu, then selecting “Pending.” The list of all pending payments will show.
How can I make online ACH or wire transfer payments?
This service is accessible through your existing Business Online Banking account.
How do I transfer money from my personal account to my business account using Business Banking app?
Please note that secondary users of a business account generally cannot view or access their personal account through the Business Banking app and there may be other requirements for the System Administrator of the business account to use their personal account(s) in the Business Banking App.
How do I make a bill payment?
Access the "Payment Center" tab under the “BillPay” option in the Business Online Banking menu. All you need is the account you want to pay from, the account or nickname you want to pay to, the amount, and the date.
Can I place a stop payment using Business Online Banking?
If you have been set up to place a stop payment in Business Online Banking, you may initiate it by selecting “Stop Payments” on the left side of the screen and following the on-screen prompts.
How can I set up automatic transfers between my business accounts?
You can set up an automatic transfer via Business Online Banking. Click on the “Transfers” tab at the top of the page and click “Recurring Transfer” on the left-hand menu. Enter the “From Account,” “To Account,” “Amount to Transfer,” “Start Date” of the transfer, the frequency of the transfer (choices are “Weekly,” “Every Three Weeks,” “Monthly,” or “Annually”), and how many times (“Recurrences”) the transfer will be completed. Click “Continue,” and then click “Confirm” to complete the process.
Automatic transfers can also be set up between business deposit accounts at any Santander branch.
How can I determine if my business account check has been paid?
You can view your account transactions within your Business Online Banking or Business Banking App.
How do I transfer money in and out of my Business Money Market Savings account?
You can transfer funds in and out of your Business Money Market Savings account through Business Online Banking, the Business Banking App, through Automated Telephone Banking, or at any Santander branch or ATM if your Business Money Market Savings account is linked to your debit card. See “Are there restrictions on how I can transact on my Business Money Market Savings account?” for details on transaction limits.
When will deposits become available?
Deposits made on a business day before the applicable cutoff time (see below) will be considered made on the date of the deposit.
|If you make a deposit on or before the applicable cutoff times on a Business Day, we will consider that to be the day of deposit. Deposit cutoff times:
|DEPOSIT MADE AT OR USING
|Closing time of the branch
|Santander Mobile Banking Check Deposit
|Wire room for incoming wire transfers
|Telephone banking transfers
Deposits made after the cutoff time or on a non-business day will be considered made on the following business day. Funds will be made available per the general funds availability policy as outlined in your Business Deposit Account Agreement.
Our general policy is to allow you to withdraw money deposited in your account no later than the second business day after the business day we receive your deposit. Funds may be available on the first business day (e.g., US Treasury checks, checks drawn on Santander Bank); however, in some cases, we may delay availability to withdraw funds beyond the period described above. In such circumstances, the funds will generally be available on the sixth business day after the day of the deposit.