Add a layer of protection to your finances with an Overdraft Credit Line from Santander Bank.

The Benefits of Having an Overdraft Line of Credit

With an overdraft line of credit, you protect your checking account from unexpected overdrafts while gaining access to emergency money when you need it.1 Santander Bank has two overdraft election options to choose from.


What Can an Overdraft Line of Credit Be Used For?


With credit limits of up to $10,000, an overdraft line of credit helps cover debits, purchases, and checks when your checking account balance isn’t sufficient, up to your available credit limit.

Avoid Overdraft Fees

Rather than incurring $35 overdraft fees, you simply pay a $12 Overdraft Protection Transfer Fee (Sweep Fee) each day a transfer is made to your checking account from your Overdraft Line of Credit.2

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Extra Money

Access emergency cash when the need arises by using a special check or by transferring money via Online Banking.

How Does an Overdraft Line of Credit Work?

When your checking account is unexpectedly overdrawn, like when you make a debit card purchase with an insufficient balance the same day a utility bill comes in for processing, an overdraft line of credit pays for these transactions, up to your available credit limit.

The amount that is transferred from your overdraft line of credit to your checking account must be repaid, including any accrued interest.

Click here for an example of how these options work in a sample account.


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Deposit Account Overdraft Protection

Use funds from other accounts to cover overdrafts that occur in your checking account.

  • Link up to three other Santander accounts, which can be any combination of checking, savings, money market savings, or Overdraft Line of Credit accounts.
  • To cover the shortfall when you overdraw your checking account, available funds in your linked account(s) will be transferred to your checking account.
  • Included in the transfer amount is a $12 Overdraft Protection Transfer Fee (Sweep Fee).2

Learn More...


1 Applications for a Santander Overdraft Line of Credit Account ("Account") are subject to credit 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 10/01/2019 and are subject to change thereafter. Funds will be transferred from your Account to cover that day’s overdraft on your Linked Account. You can also access your Account by special check (issued at our discretion on your request). One overdraft transfer fee of $12 may be charged to your Linked Account (depending on the Product type - see your fee schedule for details) for each day we make a transfer from your Overdraft Line of Credit to cover that day's overdrafts in your Linked Account (hence the balance in your Account must also be able to cover this fee in addition to the overdraft amount). An annual fee, if any, will be charged beginning in the first billing cycle after your Account is opened and around the same billing cycle of each following year. The amount of any annual fee will vary based on the type of deposit accounts 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, Premier or Premier Plus deposit account. The annual fee will be $25 as long as you maintain a Santander Preferred account. In all other cases the annual fee will be $50.

In addition to, or as an alternative to an Overdraft 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 six (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 You must have a sufficient balance available in your linked account(s) to cover all overdrafts for that day.

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