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Download here all the conditions of the Santander Program.
Program Summary
Customers can receive a €10 discount or a full waiver of the account maintenance fee for Santander accounts opened in their name with the Bank, subject to the following conditions:
FULL WAIVER: if at least one of the following conditions is met:
- All account holders who meet conditions A and B below will receive a full waiver of the account maintenance fee for the Santander account(s) opened in their name, with it going down to €0 per month, in place of the fee specified in the account contract.
A) Account holders have at least one of the following paid directly into a Santander account:
- A monthly salary or unemployment benefit of at least €600, or monthly social security retirement benefits of at least €300.
- Other regular deposits to the account made by cheque or bank transfer and totalling at least €600 per month may be considered as equivalent to receiving a salary or unemployment payments.
- The payment of social security for the self-employed (RETA: Régimen Especial de Trabajadores Autónomos or REA: Régimen Especial Agrario).
- The CAP (Common Agricultural Policy) aid to which the holder is entitled by virtue of their professional or entrepreneurial activity, for a minimum amount of €3000 per year,
B) By fulfilling any of the following conditions on the same Santander account for which they have arranged any of the terms indicated in condition A,
- Bills. Holders must have paid at least three bills by direct debit in the three months prior to the settlement of the account (from issuers with different tax numbers and they must not have been returned and they must be for more than €0).
- Use of cards. Holders must have used at least one of the cards issued by the Bank (credit or debit) and associated with the Santander account at least six times in the three months prior to the settlement of the account.
- The customer is exempt from the maintenance fee on the Santander account linked to the securities account(s) in which the shares of the Bank are deposited when at least one of the account holders has 1000 or more Banco Santander, S.A. shares deposited with the Bank.
- Customers is exempt from the maintenance fee on Santander accounts when one or all of the holders, individually or jointly, maintain with the Bank a balance in investment funds, pension plans or savings insurance of over €25,000.00.
From 15 May 2023, this condition will be amended as follows: "Exemption from the maintenance fee for Santander accounts will also be obtained on the basis of your Savings or Investment products: when one of the account holders, or all of them together, hold at the Bank a position in investment funds, pension plans, savings insurance, current accounts, savings accounts and/or term deposits of at least 25,000 euros." (However, since this is more beneficial for the customer, this exemption will be applied as of 15 March 2023). - Similarly, Santander accounts where at least one of the account holders is under the age of 29 are fully exempt from the account maintenance fee.
FLAT REDUCTION TO €10: if at least one of the following conditions is met:
- Customers will receive a reduction on their maintenance fee on Santander accounts in which one or all of the account holders, jointly or individually, meet one of the following conditions. By meeting one of the following conditions, the maintenance fee will be reduced from that specified in the account agreement to a fee of €10 per month:
- Savings: Holding a balance in investment funds, pension plans or savings insurance with the Bank of more than €5000.00 and less than €25,000.00.
From 15 May 2023, this "Savings" condition will be omitted and not considered for the single discount of €10.
- Market: Holding a balance with the Bank in equities (variable income, fixed income, warrants), structured notes or structured financial products, equal to €25,000.00 or more.
- Financing: Having any of the products listed below with the Bank, as long as they are active and up-to-date with payments:
- A mortgage loan- A consumer loan- A contract for leasing a motor vehicle or technological equipmentDebt refinancing loans are not eligible for the €10 reduction.
- Protection: Holding one or more insurance policies brokered by Santander Mediación OBSV, on which any of the holders of the Santander account is named as the policyholder, when the total value of the premium(s) is at least €120/year and provided that it is up-to-date with payments.
- Senior: Having an active Santander One Senior Plan, which is exclusively for customers over the age of 65. - The account maintenance fee for the customer's Santander account will be reduced to €10 per month when at least one of the following items is paid directly into the account:
- A monthly salary or unemployment benefit of at least €600, or monthly social security retirement benefits of at least €300.
Other regular deposits to the account by cheque or bank transfer may be considered as equivalent to receiving a salary or unemployment payments of at least €600 per month.
- The payment of social security for the self-employed (RETA: Régimen Especial de Trabajadores Autónomos, or REA: Régimen Especial Agrario).
The CAP (Common Agricultural Policy) aid to which the holder is entitled by virtue of their professional or entrepreneurial activity, for a minimum amount of €3000 per year.
The following table summarises the cashback that customers may be able to claim on the maintenance fees for their Santander accounts.
| Maintenance fee for the account |
Accounts subject to the fee |
Section |
|---|---|---|
| FULL WAIVER | All Santander accounts in the name of each account holder, subject to verification that the conditions have been met |
1 |
| Santander account associated with securities account(s) |
2 | |
| Accounts where the holder(s) meet(s) the conditions |
3 | |
| Accounts with at least one holder under the age of 29 |
4 | |
| REDUCTION of the fee to €10/month |
Accounts where the holder(s) meet(s) one of the conditions |
5 |
| Santander account used for salary payments |
6 |
1.- 0% NIR, 0% APR when any of the conditions to obtain a full waiver (sections 1, 2 and 3 of the Santander One Terms and Conditions) are met: example for the option of transactionality (salary and bills/cards). On the assumption that a minimum daily balance of €6000 is held continuously for 1 year, subject to an annual nominal interest rate of 0% and a maintenance fee of €0. It is also associated with the Santander One Debit card with a card issuance and maintenance fee of €0.
2.- 0% NIR, -1.98% APR when you meet any of the conditions in sections 4 or 5 of the Terms and Conditions of the Santander One Programme: example for the option of holding a balance equal to or greater than €5000 and lower than €25,000 in investment funds, with no added costs. Based on the same assumption in terms of balance, interest rate, card type and a maintenance fee of €120/year (€10/month) for 1 year.
3.- 0% NIR, -3.93% APR if none of the conditions are met: example based on the same assumptions of balance, interest rate, card type and a maintenance fee of €240/year (€20/month) for 1 year. The account will be settled on a monthly basis.
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