What you need before you start
Santander lets you open a savings account entirely online without visiting a branch. You will need a valid government-issued ID (driver's license or passport), your Social Security number, and a way to verify your identity — usually a phone number or email address on file with Santander already, or a video call with a representative.
If you are a new Santander customer with no existing accounts, the process takes longer because the bank needs to confirm who you are. Existing Santander customers can open a savings account in minutes because the bank already has your information on record.
You will also need an initial deposit. Santander's savings accounts typically require a minimum opening deposit, though the amount varies by account type and changes periodically. Check the current requirement on Santander's website before you begin, since it is not the same across all savings products.
Key Takeaways
- New Santander customers must verify their identity through a video call or by uploading documents, which can add one to two business days to the process.
- Existing Santander customers can open a savings account in under five minutes using their login credentials and an initial deposit.
- You will need a government ID, Social Security number, and a valid email or phone number to complete the account opening.
- The initial deposit requirement varies by account type and should be confirmed on Santander's website before you start.
The online account opening process for existing customers
Log into your Santander online banking account or the Santander mobile app. Look for "Open an Account" or "Add an Account" — the exact wording depends on which platform you are using. Select "Savings Account" from the account type menu.
Choose which savings product you want. Santander offers several: a basic savings account, a money market account, and sometimes promotional savings accounts with higher interest rates for a limited time. Read the details of each, including the interest rate, any monthly fees, and the minimum balance required to avoid fees.
Enter your initial deposit amount and confirm your contact information. The system will show you a summary of the account terms. Review it carefully — this is where you confirm the interest rate, fee structure, and any promotional terms. Then submit. The account opens when ready, and you can begin using it the same day.
The process for new Santander customers
Go to Santander's website and select "Open an Account" from the homepage. You will be asked whether you want to open a checking account, savings account, or both. Select savings account. Fill in your basic information: name, date of birth, address, phone number, email, and Social Security number.
Santander will then ask you to verify your identity. You have two options: upload a photo of your government ID and a recent utility bill or bank statement showing your address, or schedule a video call with a Santander representative. The upload route usually takes one to two business days for review. The video call is faster — it can be completed the same day, often within an hour.
If you choose the video call, a representative will ask you to show your ID on camera and answer security questions to confirm your identity. The call typically lasts five to ten minutes. Once verified, you will be asked to fund the account with your initial deposit. You can do this by transferring money from another bank account or providing a debit card.
After funding, your account opens. You will receive a confirmation email with your account number and routing number. Debit cards and checks take five to ten business days to arrive by mail.
How to fund your new account
During account opening, you will be prompted to make your initial deposit. Santander accepts transfers from external bank accounts (using your routing and account number from another bank) and debit card funding.
If you transfer from another bank, the money usually arrives within one to three business days, depending on your other bank's processing time. If you fund with a debit card, the deposit posts when ready, but Santander may place a temporary hold on the funds while they verify the card.
After your account is open, you can add money by transferring from another bank account, depositing checks through mobile check deposit (if your account type supports it), or visiting a Santander branch in person.
What happens after you submit your process
If you are an existing customer, your account is active when ready. You will see it in your online banking dashboard and can begin transferring money in and out right away.
If you are a new customer who uploaded documents, Santander will review them within one to two business days. You will receive an email confirming whether your identity was verified. If there is a problem with your documents, Santander will ask you to resubmit or schedule a video call instead.
If you completed a video call, your account opens as soon as the call ends. You will receive a confirmation email with your account details within minutes.
Common reasons the process gets delayed or rejected
The most common delay is unclear identity documents. If your ID photo is blurry, cut off, or expired, Santander will ask you to resubmit. Make sure your ID is current and the photo is clear and fully visible.
Address mismatches also cause delays. If the address on your ID does not match the address you entered in the process, Santander will flag it. Use the exact address from your ID, or provide a recent utility bill or lease showing your current address if you have moved recently.
Santander may also decline an process if you have a history of fraud or unpaid accounts with the bank, or if you appear on certain government watchlists. If your process is rejected, Santander will send you a letter explaining why. You can contact customer service to ask whether you can reapply or what steps you need to take.
Frequently Asked Questions
How long does it take to open a Santander savings account online?
Existing customers can open an account in under five minutes. New customers typically wait one to two business days if they upload documents, or a few hours if they complete a video call with a representative.
Can I open a savings account without a Social Security number?
Santander requires a Social Security number or Individual Taxpayer Identification Number (ITIN) to open any account. This is a federal requirement for banks, not a Santander policy.
What is the minimum deposit to open a Santander savings account?
The minimum opening deposit varies by account type and changes periodically. Check Santander's website or call customer service at the number on the back of your debit card to confirm the current requirement for the specific savings account you want.
Do I need a Santander checking account to open a savings account?
No. You can open a savings account as your first Santander account. However, if you already have a checking account with Santander, opening a savings account is faster because the bank already has your information verified.
When can I start earning interest on my savings account?
Interest begins accruing as soon as your account opens and your initial deposit clears. The interest rate and how often it compounds depend on which savings product you chose. Check your account details or Santander's website for the current rate on your specific account type.