$20 for checking monthly

While we’re used to banks offering one time sign up bonus for opening checking or saving accounts but this is the first time we seen a bank go the extra step and offering customers a recurring bonus for keeping accounts at the institution. Bank Santander, global bank that is less well known on American soil, is offering $20 a month for customers who open checking and saving accounts there. There are, of course, a few caveats attached to this offer:

To receive the full amount, customer must:

  1. Receive monthly direct deposit totaling over $1,500 a month
  2. Make at least two online bill payment through the checking account each month

Otherwise, the checking account will charge $10 a month service fee and the saving account requires a $100 minimal monthly balance. Overall, a decent deal if you’re looking for a new bank to park your saving and checking account. While the branch network is limited to the Northeast, they offer ATM access through a partnership and most CVS stores free of charge.

Bank Santander

Editor’s note: Bank Santander entered the US market by acquiring the interest of Sovereign Bank, hence the branch network that is heavily in the Northeast. Sovereign bank had mix records with customer service in the past, so proceed with caution if you’re looking for a bank with good customer service.