We get it – nobody likes paying fees.

We get it – nobody likes paying fees.

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 Santander relationship manager with any questions.

Business Checking account monthly fee waivers at a glance:

If you have this checking account:

You can have the fee waived by:

Basic Business Checking

  1. Maintaining $1,500 average daily ledger balance level in the checking account

Business Interest Checking

  1. Maintaining $7,500 average daily ledger balance level in the checking account OR
  2. Maintaining $15,000 combined business deposit account balance levels with the same owner

Business Checking

  1. Maintaining $5,000 average daily ledger balance level in the checking account OR
  2. Maintaining $10,000 combined business deposit account balance levels with the same owner OR
  3. Making three or more purchases using your Santander Debit Mastercard within the statement period OR
  4. Having at least one Santander Merchant Services Payments deposited into the checking account within the statement period OR
  5. Incurring at least $50 in Account Analysis fees within the statement period

Business Checking Plus

  1. Maintaining $40,000 average daily ledger balance level in checking account OR
  2. Maintaining $60,000 combined business deposit account balances with the same owner OR
  3. Having at least one Santander Merchant Services Payments deposited into the checking account within the statement period OR
  4. Incurring at least $50 in Account Analysis fees within the statement period

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

 

Average daily ledger balance waiver condition.*

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 ledger balance during your statement period. More detailed information can be found in the Business Deposit Account Fee Schedule.

 

Combined deposit balance level waiver condition.*

If you are a Santander Business Interest Checking, Business Checking, or Business Checking Plus account owner, you also have the option to have the monthly fee waived by maintaining the minimum 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 sum of deposit balances in these accounts during the statement 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 fees** (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 relationship manager.

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 relationship manager about upgrading your checking account to avoid paying unnecessary fees.

 

How to avoid cash deposit processing fees.

Each Santander business checking account includes 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 relationship manager about upgrading your checking account to avoid paying unnecessary fees.

 

Note: The information above applies only to checking deposit products for small business customers (i.e., Basic Business Checking, Business Interest Checking, Business Checking, and Business Checking Plus). For Business Banking customers with a dedicated relationship manager, please contact that relationship manager directly to discuss fee waiver opportunities.

 

*Available Balance means 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. 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.

**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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