SANTANDER has added an automatic surcharge – but paying attention to a specific detail could help avoid it.
It's not uncommon for banks to charge a monthly fee.
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But usually, they offer at least one way to avoid it.
One of them is Santander, as multiple accounts could be subject to an automatic monthly surcharge.
For example, Santander's select checking account, which requires a $25 minimum deposit to open, could also come with a $25 monthly fee.
To avoid it, customers need to maintain at least $25,000 combined in bank deposits in their account, according to the bank.
So make sure you check your account balance every month to ensure you avoid the $25 fee.
In addition, customers can pay monthly fees on other accounts including for the Simply Right checking or Essential checking accounts.
Simply Right checking customers can avoid paying an extra $10 per month by making either a deposit, transfer, or withdrawal.
That said, no action is required to avoid the monthly fee if the account owner is under the age of 26.
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Meanwhile, for Essential checking accounts, the only way to avoid the $4 monthly fee is by being under 26 or 65 years of age or older.
MORE SANTANDER SURCHARGE
But keep in mind that Santander customers can be charged fees outside of minimum account balances.
One of them is a $3 fee for opting for paper statements.
It can be avoided by logging into your online banking account and selecting paperless statements.
Meanwhile, those who have a select checking or any savings account are not subject to the fee, according to Santander.
Another one to look out for is fees at non-Santander ATMs.
It can cost up to $3 per transaction.
However, it is waived if you have a select checking or select money market savings account.
Santander savings account owners under 26 can also avoid ATM transaction fees.
But if you can, make sure to use a Santander ATM when possible to ensure you avoid the surcharge.
RETAILERS WITH SURCHARGES
In addition to banks, consumers need to be aware of surcharges when doing shopping.
For example, Stop & Shop charges a $50 restocking fee if an order is canceled after an employee begins preparing it, or if it can't be delivered for whatever reason.
And if customers have second thoughts about a specific item, they will be subject to a 15 percent fee for each one they request cancellation on.
So make sure you double-check the items in your cart or it could cost you.
Walgreens has added a surcharge for same-day orders.
But you can avoid it If you have a local Walgreens nearby and select store pick-up.
An associate will be able to get your order ready as quickly as 30 minutes.
Customers can pick up their orders in-store and curbside.
However, keep in mind that there is a $10 minimum requirement to take advantage of store pickup.
But Walmart might have the costliest option with its Express Delivery service.
It allows customers to get their items delivered on the same day as quickly as an hour from the time the order is placed.
While Walmart has dropped the $35 minimum delivery requirement, it costs $10 in addition to the existing delivery charge to use.
Critics call it "crazy expensive."
For more related stories, Amazon customers have slammed the company over another price change.
And Kroger shoppers are furious over self-checkout.
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September 05, 2023 at 12:06AM
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