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How to manage
and avoid
overdraft fees.

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Life is complicated. It’s all too easy to lose track of how we’re spending our hard-earned money. Even if you’re on top of your finances, overdrafts may happen. Overdrafts occur when you don’t have enough money in your account to cover a transaction but the transaction is still processed by your bank. Items presented for processing may be paid or returned and fees may be charged. Overdraft fees can add up, but they don’t have to. Here is information designed to help you understand:

Every time you open a checking account or money market savings account at Santander, you elect one of two options – SOME Overdrafts or ALL Overdrafts – for payment of your overdrafts.

It’s the way you elect to have Santander handle your overdrafts: SOME Overdrafts or ALL Overdrafts.

We typically consider a variety of factors, including the size of the transaction, whether your account is in good standing, and/or if you have had too many recent overdrafts.2


Here’s Emily, she is going to help us understand how your overdraft election works.

  • A maximum of six (6) Item Paid overdraft fees may be charged to a customer account per business day.
    • Paid overdraft item fees apply only when a transaction posts and the resulting account balance is overdrawn more than $5.00.
  • A maximum of six (6) Item Returned fees may be charged per business day.

Example: Your checking account balance is $2.00 and you perform two transactions, one for $4.20 and one for $4.50:

Account Balance Transaction Amount Balance After Transaction is paid Overdraft Fee Charged Notes
$2.00 $4.20 ($2.20) No Amount of overdrawn balance is less than $5
($2.20) $4.50 ($6.70) Yes Amount of overdrawn balance is greater than $5

Set up alerts that let you know when your account balance is low, when direct deposits have been deposited in your account, and more.

Here’s a video that gives you a closer look at how account alerts work.

Use digital banking services to check your balances and spending habits. Within Online and Mobile Banking, you are also able to transfer funds from another Santander account.

Help manage your account balances by maintaining a list or a check register (received in your checkbook order) to record expenses, including checks that have not yet cleared, ATM/debit purchases, and automatic payments.

1 Refer to Personal Deposit Product Guide and Fee Schedule for which accounts apply fees and their dollar amounts.

2 Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is overdrawn for an extended period of time or the overdrawn amount is excessive. Any overdrafts that we pay must be promptly repaid by you.

3 We limit withdrawals and transfers out of your savings and money market savings accounts. You can withdraw or transfer funds from a savings or money market savings account a total of six (6) times per Service Fee Period (such as by automatic or pre-authorized transfers using telephone, online banking, mobile banking, overdraft protection, payments to third parties, wire transfers, checks, and drafts). If you repeatedly exceed these limits, we may close or convert your account to a checking account, which may be a non-interest-bearing checking account.

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