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 Wilmington, DE. Santander Bank Money Market Savings Account is available in 9 states across the USA.

Are money market accounts from Santander Bank federally insured?

Yes, your Santander Bank money market accounts are insured up to $250,000 per person 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 Santander Bank Money Market Savings Account rates?

Santander Bank Money Market Savings Account 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.

Santander Bank Money Market Savings Account Rates and Terms

Rates	Amount
APY (Annualized Percentage Yield)	0.25% - 1.6%

What are the Santander Bank Money Market Savings Account fees?

This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $10,000.

Santander Bank will charge you a $5 fee if you exceed your maximum number of monthly transactions.

Federal regulations limit the number of transactions you can make from your money market account to six per month.

Santander Bank Money Market Savings Account Fees

Fees	Amount
Monthly Fee	up to $10
Paper Statement Fee	N/A
Excess Transaction Fee	$5

What is the minimum balance for Santander Bank Money Market Savings Account?

No minimum initial deposit. Santander Bank does not require a minimum initial deposit to open an account.

Monthly maintenance minimum balance of $10,000. You can avoid the monthly fee if you keep a minimum balance $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 Bank Money Market Savings Account offer?

This account does not seem to offer any of the features and perks we track.

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.