Santander $400 Checking Bonus

Get a $400 bonus when you open a new Santander Select® checking account and complete qualifying activities! Full details of the latest Santander bank bonus offer below.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

Santander $400 Checking Bonus Overview

Santander is offering up a $400 bonus when you open a new Santander Select checking account in any branch and make direct deposits totaling $5,000 or more within 90 days of account opening.

Who Qualifies For The Bonus?

This is a public offer, but since Santander is a regional bank, you must reside in one of the following states they operate in to open an account:

  • Connecticut (CT)
  • Delaware (DE)
  • Florida (FL)
  • Massachusetts (MA)
  • New Hampshire (NH)
  • New Jersey (NJ)
  • New York (NY)
  • Pennsylvania (PA)
  • Rhode Island (RI)

In addition to the residency requirement, to be eligible for the bonus, you can’t be a current Santander personal checking customer or had a personal checking account in the last 12 months.


Where Do I Enroll?

Enroll by filling in the form found at the link below to generate your exclusive promo code. While you start the process online, this specific offer requires the new account to be opened at a branch.

How To Get Bonus:

  1. Complete the registration form found at this link.
  2. Bring your completed form to any Santander branch.
  3. Open a Santander Select Checking account at the branch.
  4. Make direct deposits totaling at least $5,000 within 90 days of account opening.
  5. Receive a $400 bonus within 30 days of completing the offer requirements.

In order to receive your promotion code, follow the link above and enter your first name, last name, and email address in the form shown:

Show my promo code for Santander 400 bonus
(Image from Santander Bank)

A promotion code will generate after you submit your information. Use this promotion code when you apply for a new checking account.

What Are The Details?

Availability: CT, DE, FL, MA, NH, NJ, NY, PA, RI
Expiration: 7/1/24
Household Limit: None
Direct Deposit Required: Yes, one or more totaling $5,000 (see what counts as a direct deposit)
Soft/Hard Pull: Soft (you’re forced to agree to the overdraft protection when applying online, but if you select “some overdrafts” instead of “all overdrafts”, you’ll avoid the hard pull on your credit report) 
Early Account Termination Fee: $25 if closed within 90 days of account opening

Avoiding Fees

The Santander Select Checking account has a monthly fee of $25, but it can be waived if you have $25,000 in combined balances across all Santander deposit accounts (consumer and certain business products) and eligible investments held with Santander Investment Services.

Terms and Conditions

  • Get $400 when you open a new Santander Select Checking account ($25 minimum opening deposit) and have direct deposits totaling $5,000 or more post to this account within the first 90 days starting the first business day after account opening.
  • Offer is transferable until redeemed by the addressee and we reserve the right, in our sole discretion, to limit the number of times this Promotion Code may be used.
  • You must be 18 years or older.
  • Offer is not available if any account owner is a current checking customer of Santander or had a Santander checking account in the last 12 months prior to account opening.
  • Offer cannot be combined with any other bonus offer.
  • Promotion Code must be entered at new account opening to be eligible for this offer, and cannot later be added to an account, or changed, unless it is presented and applied within 14 days of account opening.
  • The account needs to be open for at least 90 days and remain open in an eligible account type until payment of bonus, which will occur within 30 days thereafter.
  • In addition, the account must remain open and in good standing to be bonus eligible
  • Bonus is considered interest and will be reported to the IRS on Form 1099-INT.
  • If multiple accounts are opened with the same signer, only one account will be eligible for the bonus.
  • For new checking account customers only.
  • Offer is only available to residents of NH, MA, RI, CT, DE, FL, NY, NJ, or PA.
  • Eligibility detail for Florida: Beginning 8/7/2021 this offer will only be eligible online in zip codes within Miami Dade, Monroe and Broward counties, including zip code 34141.
  • Santander considers direct deposits to be automatic electronic deposits made through the ACH network to your account by someone else, such as an employer issuing payroll or a government or retirement plan paying benefits. It may not include deposits to your account that are made by an individual using online banking, an internet payment provider, or a merchant advancing payroll using a debit card.

The Bottom Line

If you can manage $5,000 in direct deposits, then I would obviously take this bonus of $400 over the smaller $225 bonus that Santander is also offering. However, the smaller bonus comes with a smaller $1,000 direct deposit requirement.

You can learn more about other offers this bank provides at the Santander Promotions page.

I’ll include this offer in my list of the best bank bonuses. Let me know if you had a recent experience opening an account with Santander by commenting below!

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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1 year ago

I am wondering if this promotion is expired? The link doesn’t seem to work, and the page says it is expired, but it is listed on your Best Bank Offers page for August? Thanks in advance for clearing up my confusion!

2 years ago

The link doesn’t work.