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Easy Access Line of Credit

With an Easy Access Line of Credit1, you have an extra layer of protection and convenient access to cash when you need it. You can easily transfer money from your line directly into your checking account, anytime you need extra cash, for whatever reason2. And should your account become unexpectedly overdrawn, your Easy Access Line automatically covers your debits, purchases and checks, up to your available credit limit. It's that easy!

With an Easy Access Line of Credit linked to any Santander Checking Account, you can benefit from great coverage, fast cash and:

  • Flexible credit lines up to $5,000
  • No annual fee for qualifying accounts4
  • Request special checks for easy access to your Easy Access Line of Credit
  • No transfer fee in Online Banking
  • Overdraft Protection

 

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1 To get a Santander Easy Access Line of Credit, you must reside in MA, RI, CT, NH, NJ, PA, NY, MD, DE, ME, VT or DC, must have or open any Santander checking account and authorize automatic payment (ePay) from that account. Applications for a Santander Easy Access Line of Credit Account (“Account”) are subject to approval. The Account provides overdraft protection for a Santander checking or money market savings account (“Linked Account”). The fixed Annual Percentage Rate on the Account is 18.99%. Rates and other terms are accurate as of 4/01/15 and are subject to change thereafter. You can access your Account by special check (issued at our discretion on your request), counter withdrawal, telephone transfer ($50 minimum), Online Banking and ATM withdrawals using your Santander Debit Card. You can also advance funds via automatic transfer when your Linked Account is overdrawn. One overdraft transfer fee of $12 will be charged to your Linked Account for each day we make a transfer from your Account to cover that day’s overdrafts in your Linked Account; however, this fee will be waived as long as we are advancing funds from your Account to a linked Santander Select or Premier deposit account.

 

In addition to, or as an alternative to an Easy Access Line of Credit Account, you can link your Santander checking account to a Santander savings account for overdraft protection. Ask us about any other overdraft protection options that may be available. You can withdraw funds from your savings account no more than 6 times by computer, telephone, preauthorized or automatic transfer, check, or Debit Card purchase each service fee period. Fees apply if you exceed these limits, and if you repeatedly exceed these limits, we will close your account or convert your account to a checking account.

 

2 Transfer fees may apply.

 

3 To qualify for the annual fee waiver, you must apply by June 30, 2015. Any annual fee will be charged to your line of credit after it is open for one year.

 

4 An annual fee, if any, will be charged beginning in the first billing cycle after your Account is opened and in about the same billing cycle of each following year. The amount of any annual fee will vary based on the type of deposit account you have with Santander at the time the fee is assessed. The annual fee will be waived as long as you maintain a Santander Select or Premier account. The annual fee will be $25 as long as you maintain a Santander Preferred account. In all other cases, including when you open a Santander Preferred Plus or extra20 account, the annual fee will be $50.