Santander Bank Enhances Safety Net, Further Reduces Overdraft Fees for Every Client

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Oct 18, 2022

Santander Bank, N.A. ("Santander Bank,” “Santander” or “the Bank”) today announced further enhancements to Santander® Safety Net, the company’s flexible overdraft policy that was initially introduced in 2021. With these updates, Santander is eliminating its non-sufficient funds (NSF) fee, charged when a payment transaction is returned, and is reducing the overdraft fee to $15 from $35, charged when items are paid. These changes position Santander as having one of the most flexible overdraft fee structures among traditional U.S. Banks.