Personal Loan Service Transfer FAQs - Santander

Personal loans: notice of servicing transfer FAQs

General:

1. Why is my personal loan being transferred to Firstmark Services?

Your personal loan was sold to a new vendor. As part of that sale, servicing for your loan has been transferred to Firstmark Services. Lenders regularly sell loans or loan servicing rights, often as a function of managing their portfolios. The sale of your personal loan is no reflection of your individual account.

2. When does the transfer of my personal loan account(s) take effect?

The transfer will take place on May 8, 2026

Before May 8th, please call or visit your local Santander Bank branch with any questions about your personal loan account(s).
After May 8th, Firstmark Services will be able to assist you with all needs related to your personal loan account – including answering questions, discussing payment options, and processing your payments. You will also receive a welcome communication and be able to speak to a Firstmark Services representative, beginning May 11th.

3. Who is Firstmark Services?

Firstmark Services is a division of Nelnet – a diversified company headquartered in Lincoln, NE with a longstanding tradition of excellence in consumer lending, loan servicing, payments, and technology

Loan and Access:

4. Will my loan terms change as a result of this sale?

Your loan terms - including your interest rate, balance, and any discounts you are receiving - will not change as a result of this transfer.

What will change?

The organization that services your personal loan account(s) will change, from Santander Bank to Firstmark Services.
If your current payment due date is on the 29th, 30th, or 31st, following the completion of this transition on May 8th your due date will change to the 28th of each month. If you’d like to change this date, please reach out to Firstmark Services after May 8th.
Please note: if you use ePay from an external account and your payment is scheduled on May 5th, 6th, or 7th, your payment will be delayed for 1-3 business days – and will be processed after the transition by Firstmark Services. (If you use ePay from a Santander Bank account, your payment will be processed up until 8pm on May 7th.)

5. Will my interest rate change?

No. The terms and conditions of your loan(s) will not change from what’s currently in place at Santander Bank, including any discounts that you may have.

6. If I had a discounted rate with Santander Bank, will that discount still apply with Firstmark Services?

Following the completion of this transition on May 8th, Firstmark Services will continue to honor any discounts you may already have in place on your Santander Bank personal loan. You will not need to take any action to ensure that your discount continues.

7. Will my account number change?

Yes. Once your loan transfers to Firstmark Services, you will receive a welcome communication that will detail your new Firstmark Services account number.

8. Will I need to set up a new online account?

Yes. Once your loan servicing transfers to Firstmark Services, you will receive a welcome communication that will detail how to create your new online account and manage your loan with Firstmark Services moving forward. Please note: you will not be able to create or register an online account with Firstmark Services until the loan transfer has been completed.

9. Will my loan terms or payoff date change?

No. The terms and conditions of your loan(s) will not change from what’s currently in place at Santander Bank.

10. Will this impact my credit score or credit report?

The transfer itself will not impact your credit. If you notice incorrect reporting, please contact Firstmark Services promptly. In the following months, you will see the reporting of your loan transition to FM/ConsumerLoanPurchaser.

Payment Questions:

11. Will my monthly payment amount or loan balance change?

No. Once your loan servicing moves from Santander Bank to Firstmark Services, the terms of your loan will not change – including your monthly payment amount and your loan balance.

12. Will my payment due date change?

In most cases, your due date will not change – unless you currently have a payment due date on the 29th, 30th, or 31st of a month. In that case, your payment due date will be updated to the 28th of each month. (This change also applies to customers using AutoPay, which will automatically transition to Auto Debit with Firstmark Services.) If you’d like to change this date, please reach out to Firstmark Services after May 8th.

Please note: if you use ePay from an external account and your payment is scheduled on May 5th, 6th, or 7th, your payment will be delayed for 1-3 business days – and will be processed after the transition by Firstmark Services. (If you use ePay from a Santander Bank account, your payment will be processed up until 8pm on May 7th.)

13. When should I start sending payments to the new company?

After May 8th, Firstmark Services will start accepting payments for your personal loan(s). For a limited time, Santander Bank will forward any payments received after this transfer date to Firstmark Services. In that situation, Firstmark Services will apply your payment date effective as of the date that Santander received the payment. (Any payments received by Santander Bank after this limited period will be returned to you and will not be applied to your account.)

14. What happens to my automatic payments (i.e., AutoPay/Bill Pay)?

From your Santander account: Your AutoPay will continue without disruption. After May 8th, it will continue with Firstmark Services through Auto Debit (the Firstmark Services version of AutoPay) unless you are otherwise notified.
From another financial institution: After May 8th, you will need to re-enroll in automatic payments through your online account at Firstmark Services. Instructions on how to re-enroll – including your new Firstmark Services account number – will be included in the welcome communication.

15. Do I need to reauthorize ACH or recurring payments that are initiated through another bank?

After May 8th, you’ll need to update the payee, new account number, and other payee details to reflect your new Firstmark Services account information.

16. What happens if I sent a payment to Santander that wasn’t processed in advance of May 8th?

For a limited time, Santander Bank will forward any payments received after this transfer date to Firstmark Services. In that situation, Firstmark Services will apply your payment date effective as of the date that Santander received the payment. Any payments received by Santander Bank after this limited period will be returned to you, and will not be applied to your account.

17. I regularly make payments in person at a Santander Bank branch. Can I continue doing that after my loan servicing moves to Firstmark Services?

You can make payments at a Santander Bank branch until May 7th. If you currently make payments in person, we recommend that you visit your local branch before May 7 so that our team can help you set up AutoPay (which will transition to Auto Debit with Firstmark Services). This will ensure you have a seamless payment transition to Firstmark Services.

After your personal loan servicing moves to Firstmark Services on May 8th, you will no longer be able to make payments at Santander Bank. You’ll need to make payments either online, by phone, through Auto Debit, or by mailing a payment to the address on your Firstmark Services billing statement. The welcome communication from Firstmark Services will provide more details about these payment options.

18. I regularly pay my loan by making a transfer in Santander Online Banking. Will I be able to continue doing that after my loan servicing moves to Firstmark Services?

No. After your loan servicing is transferred to Firstmark Services, you’ll no longer be able to make payments through an internal transfer in Santander Online Banking. You’ll need to make payments directly to Firstmark Services either online, by phone, through Auto Debit (the Firstmark Services version of AutoPay), or by mailing a payment to the address on your Firstmark Services billing statement. The welcome communication from Firstmark Services will provide more details about these payment options.

19. What happens if I pay my loan off before the transition date?

If your loan has been fully paid off and closed out by May 7th, the loan servicing will not transfer to Firstmark Services.

20. What happens if I have paid my loan down ahead of schedule and am set up on AutoPay?

If you are already set up on AutoPay, after the transition your payment will be processed from your bank account each month via Auto Debit (the Firstmark Services version of AutoPay), regardless of whether you are ahead of your payment schedule. This is a change from Santander, where a payment was not processed if the loan had been paid ahead of time.

To view Firstmark Services’ Auto Debit terms and conditions, please visit the Auto Debit section at https://firstmark.myloanmanager.com/Home/FAQ.

21. Will I still have access to my payment history?

If you have other accounts or products at Santander Bank, you will continue to have access to Online and Mobile Banking and see your loan payment history. Please note that any statements for your personal loan(s) from May 8th, 2026 forward will be available exclusively through Firstmark Services.
If your personal loan was your only account with Santander, after May 7th you will no longer have access to your Santander Bank payment history. We strongly recommend downloading/saving/printing your last 6 months of statements before the transfer is completed on May 7th.

22. What happens if I’m enrolled in hardship, deferment, or a payment arrangement?

Santander will forward these arrangements to Firstmark Services when your personal loan account transitions. If documentation is received after May 7th, it will be transferred to Firstmark Services. No action is needed on your part.

23. What happens if I’m in the middle of a dispute or complaint?

Santander Bank will work with Firstmark Services as needed to ensure that any open disputes or complaints will continue to move forward toward resolution.

24. What happens if I have a payment scheduled for the week of the transition?

If you use ePay from an external account and your payment is scheduled on May 5th, 6th, or 7th, your payment will be delayed for 1-3 business days – and will be processed after the transition by Firstmark Services. If you use ePay from a Santander Bank account, your payment will be processed up until 8pm on May 7th.

Transition questions:

25. What if I don’t agree with the transfer?

We understand that this change may be unexpected, and we apologize for any inconvenience. However, our loan agreements allow Santander Bank to sell or transfer your loan without borrower consent. This transfer does not change your contractual obligations.

26. Is my personal and financial information secure?

Yes. We use advanced measures to protect your security, and loan transfers are required to comply with all federal privacy and data security requirements to protect your information.