Waive Fees | Business - Get Started | Santander Bank

How to avoid paying fees.

Luckily, having them waived or avoiding them altogether may be easier than you think. Because we respect you and your business, we want to be as transparent as possible about how you can avoid paying fees. Use this sheet as a quick reference guide, and, as always, reach out to your banker with any questions.

More detailed information can be found in the Business Deposit Account Fee Schedule.

Business checking account monthly fee waivers at a glance:

If you have this checking account:	You can have the fee waived by:
Business Checking	Maintaining $5,000 average daily balance in the checking account during the service fee period OR Maintaining $10,000 in combined eligible business deposit balances with the same owner during the service fee period OR Having 3 or more purchases using a Santander Business Debit Mastercard post into your account within the service fee period. OR Having one or more Santander Merchant Services payments deposited into your account within the service fee period OR Incurring $50 or more in cash management service fees within the service fee period
Business Checking Plus	Maintaining $40,000 average daily balance in the checking account during the service fee period OR Maintaining $60,000 in combined eligible business deposit balances with the same owner during the service fee period OR Having one or more Santander Merchant Services payments deposited into your account within the service fee period OR Incurring $50 or more in cash management service fees within the service fee period

If you have this checking account:

You can have the fee waived by:

Business Checking

Maintaining $5,000 average daily balance in the checking account during the service fee period OR
Maintaining $10,000 in combined eligible business deposit balances with the same owner during the service fee period OR
Having 3 or more purchases using a Santander Business Debit Mastercard post into your account within the service fee period. OR
Having one or more Santander Merchant Services payments deposited into your account within the service fee period OR
Incurring $50 or more in cash management service fees within the service fee period

Business Checking Plus

Maintaining $40,000 average daily balance in the checking account during the service fee period OR
Maintaining $60,000 in combined eligible business deposit balances with the same owner during the service fee period OR
Having one or more Santander Merchant Services payments deposited into your account within the service fee period OR
Incurring $50 or more in cash management service fees within the service fee period

Additional details on how the monthly balance level waiver conditions work:

Average daily balance waiver condition.¹

No matter which kind of Santander business checking account you own, you can have your monthly fee waived by maintaining a certain balance level. That balance depends on which kind of account you have and is calculated as an average of your daily Current balance during your service fee period. More detailed information can be found in the Business Deposit Account Fee Schedule.

Combined deposit balance level waiver condition.¹

If you are a Santander Business Checking, or Business Checking Plus account owner, you also have the option to have the monthly fee waived by maintaining a combined deposit balance across certain business accounts with the same ownership. The combined balance level you need to maintain depends on which kind of account you have and is calculated as the average of the sum of the Current balances in these accounts over the service fee period. More detailed information can be found in the Business Deposit Account Fee Schedule.

Did you know that Santander business checking accounts also include an allotment of free transactions and cash deposit processing?

How to avoid basic transaction fees² (debit and credit activities in your accounts).

All Santander business checking accounts include an allowance of free basic transactions per statement period, after which a fee will be charged for each transaction. If you are unsure what your free transaction limit is, ask your banker.

You can also find this information in the Business Deposit Account Fee Schedule. If you expect to routinely exceed your free transaction threshold, please speak with your banker about upgrading your checking account to avoid paying unnecessary fees.

How to avoid cash deposit processing fees.

Most Santander business checking accounts include an allowance for processing cash deposits that you can make without incurring fees. If you are unsure what your cash deposit processing limit is, please refer to the information in the Business Deposit Account Fee Schedule. If you expect to routinely exceed your free cash deposit limit, please speak with your banker about upgrading your checking account to avoid paying unnecessary fees.

Note: The information above applies only to checking deposit products for Small Business Banking customers (i.e., Business Checking, and Business Checking Plus).

¹ Current Balance means 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.

² Basic transactions include checks paid, teller deposits, ATM deposits, Money Center deposits, deposited items, and ACH items (electronic debits and credits not originated by customer). Santander Merchant Services (credit and debit card payment processing) and Santander Payroll Services ACH debit items are not included. Business Checking, Business Interest Checking, Basic Business Checking, and Business Checking Plus basic transaction limits also include Check Deposit Link batch deposits, Check Deposit Link items processed, and Check Deposit Link ACH converted transactions.

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