Last Updated: 04/18/2025
Santander Bank Money Market Savings Account
Unaffiliated
in Money Market Accounts from Santander Bank
Last Updated: 04/18/2025
No Reviews Yet
This product has no reviews yet. Help others by sharing your thoughts.
Be the first to rate
Cast Your Vote
Compare All Money Market Accounts
Filter & compare all your options in one place.
Highlights
APY (Annual Percentage Yield)
0.25% - 1.6%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Balance to Earn APY
$1
Minimum Opening Deposit
Starting at $25
Santander Bank Money Market Savings Account Review
Santander Bank Money Market Savings Account is offered by Santander Bank, a bank founded in 1857 and based in Boston, MA. Santander money market are available in 50 states and Washington, DC.
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 1.6%, which is much higher than the national average for a money market account. However, you must keep a minimum balance of $1.
- Charges a monthly fee. This account charges a monthly fee of $10, but the fee may be waived if you keep a minimum balance of$10,000.
- Small minimum initial deposit. You only need $25 to open an account.
Pros & Cons of Santander Bank Money Market Savings Account
| Pros | Cons |
|
|
Santander Bank Money Market Savings Account FAQ
Are money market accounts from Santander Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What are the interest rates for Santander money market rates?
Santander money market offers an APY starting at 0.25% and ranging up to 1.6% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $1.
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0.25% - 1.6% |
What are the fees for Santander Bank Money Market Savings Account?
This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $10,000.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum balance for Santander money market?
Minimum deposit of $25. You must make an initial deposit of at least $25 to open this account.
Monthly maintenance fee waiver. You can avoid the monthly fee if you keep a balance of $10,000.
Interest rate minimum balance of $1. You must keep the account balance above $1 to earn interest.
What features and perks does Santander money market offer?
This account includes the following features:
- Fraud monitoring - Santander Bank monitors transactions for potentially fraudulent activity.
- Mobile Banking Services - Santander money market allows you to manage your money through online banking and a dedicated mobile app.
What is the customer service phone number?
The customer service number for this account is (877) 768-2265.
What is the support contact email?
The support contact email for this business credit card is customerrelations@santander.us.
How to open an account with Santander Bank
- Visit the Santander Bank website.
- Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
- Check the information is accurate and submit your application.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
8:00AM - 8:00PM
Monday
8:00AM - 8:00PM
Tuesday
8:00AM - 8:00PM
Wednesday
8:00AM - 8:00PM
Thursday
8:00AM - 8:00PM
Friday
8:00AM - 8:00PM
Saturday
8:00AM - 8:00PM