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Santander Bank

1.7 out of 5 stars
38 Reviews

From Account Holders in the last year


Application Process

2.5 out of 5 stars

Customer Service

2 out of 5 stars

1.5 5

Most Helpful Positive Review

Aug 01, 2016
Anonymous Account Holder

The only thing that i don't like is that i had my care for almost two years and everytime i check on my payment and how much i ouw it doesn't even seen like the price is going down i think its dumb that i have to pay off the interest off first

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Most Helpful Negative Review

Apr 02, 2016
Worst auto lender ever
Setnev Account Holder

If you try to finance a car and they tell you Santander is funding the loan, walk away. Having no car is better than having a car financed through Santander and that is no exaggeration.

We found our second car used at a local big-box dealer. It was a 2005 Hyundai Tucson with only 60,000 miles on it, fully loaded, one owner, great price. Since it was nearly 8 years old but low miles, we bought a 2 year extended warranty on it with a total out the door for around $14,000 but financed only $12,500. In comes Santander with very loan sharkesque 27.99% interest rate despite having excellent payment history on my first car financed through Ally Financial at over half the rate of Santander (Ally wouldn't finance due to the age of the car...Mistake #1). We were desperate for a second car and it was only a 60 month loan, so we decided to go ahead with it on the premise that we'd refinance when the balance was a few grand less. That was mistake #2. I cannot blame Santander for my mistakes but here is the reason for their low rating and negative review.

Now for the red flags...

Red flag #1: Nearly 100% of your payment goes to interest your first half of the loan, again never late, always on time. Our balance went from $12,500 to $12,100 in the first 6 months. Two years into the loan, I've barely paid off the warranty I purchased

Red flag #2: There is no refinance process. If you want to renegotiate your loan, they find every reason in the book to not lower your interest rate. I've heard everything from "I owe too much on my vehicle" to "Your vehicle doesn't meet the criteria for refinance due to the age being over 7 year old." The last one is a hoot because they funded the loan on an 8 year old car in the first place.

Red flag #3: Their online payment system is useless. Around Christmas last year, their payment system was not processing payments correctly which resulted in reversed payments and even payments not posted, despite recieving confirmation numbers and the money withdrawn from our bank account. Needless to say Santander's credit department recorded late pays for 2 months on mine and countless other debtors. 

Red flag #4: Customer service is non-existent. You ask to speak to a supervisor, they just throw you back in the call queue. You ask for someone in their credit dispute department and you get told they don't have a dispute department or it is constantly closed. 

Needless to say, I am sending my lawyer after them for fraudulent reporting practices and looking for a dealer that will get me out of this loan. Title loan places have better interest rates than Santander does, and that is sad. 

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These reviews were written by current and former account holders in the last year.

Nov 22, 2016
Anonymous Account Holder

Irresponsible banker who put wrong info when opeing a new account for me, which cost me unnecessary taxes, and then refused to admit. The name is Michelle Carmen Brown in edison, NJ Santander branch.

Worst bank experience I've ever had.

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Nov 22, 2016
Anonymous Account Holder

Irresponsible banker who put wrong info when opeing a new account for me, which cost me unnecessary taxes, and then refused to admit. The name is XXXXX Worst bank experience I've ever had.

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Nov 20, 2016
Continued mistakes causing frustrations
Anonymous Account Holder

Living overseas.  Santander made errors updating our address which we attempted to do while back in the U.K. on a visit.  Spent something like 4 hours of my life trying to resolve this.  Each time they would resolve part of the problem but not fix it completely.  Will be closing account when we return.  They are truly awful to deal with and have lost a long term customer now.

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Nov 22, 2016

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Nov 16, 2016
timothyhutz Account Holder

You can't pay them directly except to mail a check and then they hold it EVERYTIME for 5-7 days plus processing. They ILLEGALLY Both on the Criminal and Tort default side change your intrest rate to over 20% after you signed a contract for 18%, ILLEGALLY charge Bogus fees when your doing ANYTHING to the loan or getting paperwork. WORST LENDER EVER, will never use them again! Ohh and if you pay via checking account HAVE to use Western Union for ANYTHING electronic and they charge a 10.95 fee every time!

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Nov 14, 2016
egregious damage assessment!
Anonymous Account Holder

From incompetent customer service to bogus and egregious damage assessment on leased vehicle.  I returned a pristine Jeep, substantially under the mileage limit. There was no damage that even met the criteria of Chrysler's own published policy, but rather an attempt to generate fees.  I have been leasing cars for 30 years and have never been assessed anything for minor dings or surface scratches.  The dealer ‘s inspection did not reveal any of this. 

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Nov 13, 2016
Anonymous Account Holder

They prey on people with less than perfect credit and over charge in interest rates to the point of loan sharking! You can't pay off the loan early without paying ALL the accumulative interest for loan in its entirety! Stay away! 

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Nov 07, 2016
Stay Away
Anonymous Account Holder

High rates for Auot loans 

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Nov 07, 2016
abcpcp Account Holder

Stay away for auto-loan !!!!!!!!!!!!!!!!!!!!!!!!!!!! Rates are Very High.!!!!!!!!!!!!!!!!!,Ive been paying on a loan for 13000 foir going on 5 years will not use  them again.

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Nov 06, 2016
Anonymous Account Holder

The biggest mistake I have ever made! They charge you a daily apr to the unpaid money you still owe, they use your entire monthly payment on interest with little to nothing going to principal, and if you still owe after the maturity date they will charge you even more until it's paid, which is never because of the daily apr they charge. I got my 2006 car in 2011 and as of today, based on the amount I owe, I will be finished in 2018....basically a car worth 10k I would have paid close to $28k!!!! Everyone stay away from them!!! Even if you have no credit or your credit sucks, find someone else. As you can read, I'm not the only one getting screwed over.

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