Santander IRA $1,000 Bonus

Santander is offering a bonus up to $1,000 when you roll over or fund a Santander IRA! This offer is available for both new and existing customers. Details below.

Santander $1,000 IRA Bonus Overview

Get up to a $1,000 bonus when you roll over or fund an eligible Santander Investment Services IRA.

Open a new or have an existing Individual Retirement Account (IRA) by 4/30/21 and roll over or fund your account by 6/15/21.

Eligible IRA types include:

  • Rollover IRA
  • Traditional IRA
  • Simple IRA

Ineligible accounts include:

  • Inherited IRA
  • Insurance account
  • Annuities
Santander $1,000 IRA bonus ad

Other Santander Bank Bonuses:

Bonus Tiers

The bonus you’ll receive for this offer depends on the total net amount that you roll over or fund.

The net amount is calculated by adding up the amounts of your deposits and transfers, minus any withdrawals, for the time period between 1/4/21 to 6/15/21.

Here are the bonus tiers:

Transfer AmountCash Bonus
$50,000 – $99,999$200
$100,000 – $249,999$350
$250,000 – $499,999$700
$500,000 +$1,000

The deposit must remain in your account (minus any losses related to trading or market volatility) for at least 9 months following the offer end date of 4/30/2021.

How To Enroll In Offer

Direct Link

Ninja Update 8/29/21: The $1,000 offer has expired – we’ll update this link as it should be back at some point.

Looking for other bank bonuses? See the list of the best bank bonuses currently available on this page.

The link above brings you to the promo’s landing page, but note that you can’t enroll online.

In order to participate in this offer, you can either:

  • Call 1-866-736-6475 to be put in touch with a Santander Investment Services Financial Consultant.
  • Or, click here to locate your local Financial Consultant.


Availability: Nationwide
Expiration: 4/30/2021
Household Limit: None (everyone in your family can get the bonus!)
Direct Deposit Required: No
Soft/Hard Pull: Soft
Early Account Termination Fee: No (must keep the deposit amount in your account for 9 months or you will forfeit the bonus)

Terms & Conditions


You must complete two steps to qualify for your cash bonus:

  1. Open a new or have an existing Individual Retirement Account (IRA) with Santander Investment Services by 4/30/2021. Eligible IRA types include: Rollover IRA, Traditional IRA, Roth IRA, SEP-IRA, or Simple IRA. All annuities, insurance, and Inherited IRA accounts/products are excluded and
  2. Make a net deposit, transfer, and/or rollover that posts to your account by 6/15/21. Net qualifying assets posted between 1/4/21 and 6/15/21 must be at least: $50,000 for a $200 bonus, $100,000 for a $350 bonus, $250,000 for a $700 bonus, $500,000 or more for a $1,000 bonus. Your net qualifying assets are the total amounts of your deposits and transfers, minus any withdrawals. Limit one bonus per customer or custodial beneficiary.


  • Santander Investment Services will add the bonus to your account by the end of July 2021.
  • Qualifying assets must remain in the account (minus any losses related to trading or market volatility) for at least 9 months following the offer end date of 4/30/2021 or your bonus may be recovered.
  • Bonus may be refused or recovered if it is determined that you violated Santander Investments’ Account Agreement.
  • Partial withdrawals made during the nine months after the offer close date of 4/30/2021 may result in the full or partial recovery of the cash award.


  • Any taxes related to Santander Investment Services offers are your responsibility.
  • The bonus is a cash award and will not be reported to the IRS as an IRA contribution.
  • You should consult your tax or legal advisor about the guidelines on IRS contribution limits for IRAs and the appropriate tax treatment for this award.
  • Santander Investment Services reserves the right to modify these terms and conditions or terminate this offer at any time. Other terms and conditions, or eligibility criteria, may apply.

The Bottom Line

We’ve been seeing a lot of bonus offers lately for transferring assets from one financial institution to another.

Citi is dangling $3,500 to bring deposits over to their Personal Wealth Management account. Merrill Edge will give you up to $1,000 for transferring money to their brokerage account. Chase didn’t want to miss in on the action and is willing to pay up to $3,000 for you to become a Chase Private Client.

As you’re taking advantage of these deals, remember that quite a few banks and financial institutions will reimburse you for account termination or transfer fees charged by the bank/financial institution you’re leaving.

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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