Santander Bank launches program raising no-fee overdraft threshold to $100

Boston-based Santander Bank NA unveiled Santander Safety Net, a program that raises the no-fee overdraft threshold to $100.

The overdraft program applies automatically to every client of the bank and is expected to completely eliminate overdraft fees for nearly one-third of clients who have recently overdrawn, according to a Nov. 8 news release.

The Banco Santander SA subsidiary also made other automatic changes to its overdraft fee structure, including eliminating the $12 overdraft protection transfer fee and reducing the daily overdraft fee cap by half.