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The Santander Student Value Checking account has no monthly fee and no minimum balance, but there’s much more to this account than meets the eye. Check out what’s good, what’s bad, and our impressions below.
*See the best Student Checking Accounts compared
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Current Sign-Up Promotions?
[Expired] Santander Student Value Checking $50 Bonus
Open and use a new Student Value Checking account to earn a $50 bonus with this offer.
- $50 bonus offer expires 12/31/2020
- Use promo code STUDENT50
- The Student Value Checking account is eligible for the offer
- Offer is only available to residents of NH, MA, RI, CT, DE, NY, NJ, PA, or FL.
This account does qualify for Santander’s referral program that doesn’t have a set expiration date. You can read about the referral bonuses program and other Personal and Business Checking offers at this Santander Bank promotions page.
As an alternative, another great college student Checking account with a sign-up bonus is the Chase College CheckingSM (read about it’s features and bonus offer here).
Santander Value Checking Requirements
To opt in, you’ll have to be between 14 to 25 years old (with a legal guardian as co-owner for those under 18). Proof of enrollment in a college, university or other undergraduate-level school is required.
Santander Value Checking Details
No Monthly Fee
Ever! There’s nothing you have to do!
No Minimum Balance
The minimum opening deposit is a mere $10, and there’s no minimum balance after that.
Mobile Banking
Make deposits, send transfers, and set customizable alerts at your convenience from your phone or laptop.
Apple Pay
Santander’s debit and credit card are compatible with Apple Pay, a simple and secure way to make purchases and send or receive money.
Savings Account Benefit
By having the Santander Student Value Checking account, monthly fees are waived on Santander Savings and Santander Money Market Savings accounts.
Few ATM & Branch Locations
There are a limited number of Santander ATM & branch locations in the United States compared to big banks like Chase and Wells Fargo. You’ll find over 600 branches across Connecticut, Delaware, Florida, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, and Rhode Island.
No Yield on Deposits
As with many student checking accounts, don’t expect to earn interest on your deposits.
| USAGE | FEE | NOTES |
| Domestic non-Santander ATM | $2 | Includes ATMs in Puerto Rico as well. |
| International ATM | $6 | Waived at Santander ATMs in Mexico |
| Paper Statements | $3 | Per statement. |
| International Debit Card Transaction | 4% | For international cash withdrawal or purchase using your debit card. |
| International ATM Card Transaction | 3% | For international cash withdrawal using your ATM card. |
| Replacement Card – Expedited | $30 | |
| Insufficient Funds | $35 | Per item returned on item paid (max 6 items per business day). |
| Sustained Overdraft | $35 | Applies to accounts in the red for 5 consecutive days. |
Bottom Line
While the Santander Student Value Checking offers a handful of no-fee, no minimum goodies, what it lacks is a robust physical presence in terms of ATMs and branches. However, in this tech age with mobile banking and Apple Pay at your fingertips, there’s little need to have cold hard cash in your hands.
What’s more, Santander Student Value Checking has the unique feature of fee-free incoming international transfers. It’s the perfect account for international students studying in Santander’s service area and regularly receiving money from mom and pops back home.
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Editorial Disclaimer: Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Disclaimer: These responses are not provided or commissioned by the bank advertiser, credit card issuer, hotel, airline or other entity. Responses have not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It is not the bank advertiser's or any other entity's responsibility to ensure all posts and/or questions are answered.