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Oct. 28, 2013 /PRNewswire/ --
Santander Bank, N.A., one of the 25 largest retail banks in
the United States by deposits, launched a new checking account today to be promoted through a major television advertising campaign featuring
Robert De Niro.
extra20 checking(SM)is the first checking account in
the United States to pay customers
$20 every month just for banking as they usually do. The product will be introduced through a broad advertising campaign promoting
extra20 checking in markets across the northeastern United States. Print, digital, radio and television ads for
extra20 checking will run in Santander's key markets over the next several weeks. The attention-getting centerpiece of the campaign is a
60 second television spot depicting a serendipitous and humorous encounter between an unknown moviegoer and De Niro as they watch the Academy Award winning actor's performance together in a local movie theater.
"As a banking product,
extra20 checkingis unexpected.
We looked for an equally unexpected way to capture the attention of consumers and to communicate its benefits in a way that would be engaging, entertaining and enlightening," said
Kathy Klingler, Santander's chief marketing officer. "
Robert De Niro is well-known for his integrity, his commitment to his craft, and for the quality of his work—characteristics that closely align to our corporate values. We were thrilled to be able to work with him to create a truly unique connection with our customers."
To qualify for the
$20 monthly bonus, customers must open an
extra20 checking and a linked
extra20 savings account, make direct deposits of at least
$1,500 to their checking account each month and pay two bills or more each month using Santander's online bill pay service. Customers who direct deposit
$1,500 or more but do not pay bills through the online service will receive a
$10 monthly bonus. Monthly bonuses will be deposited into customers'
extra20 savings accounts.
"Customers can receive an incentive each month simply for continuing to do what they've been doing anyway," said
Nuno Matos, Santander's head of retail banking. "We value the relationship we have with our customers and are returning value to them each month for banking with us."
The launch of Santander
extra20 checking follows the Bank's rebrand from Sovereign to Santander earlier this month. As part of a
$200 million investment to enhance customer experience, Santander unveiled a new, streamlined website, a mobile banking app with additional functionality, the completion of its network-wide branch refurbishment initiative, and the ongoing enhancement of ATMs across its footprint.
Development of Santander
extra20 checking evolved as a result of market research indicating that consumers prefer banking relationships that reward them for everyday use, maximize their earnings and help them get the most out of their money. Research participants indicated that the idea of a
$20 bonus every month simply for continuing to perform tasks that are part of their normal financial routine held significant appeal. Respondents viewed the bonus as a way to help them save a little extra every month.
"By listening closely to consumers, we were able to develop a product that helps customers meet their financial goals and savings needs," said
Alison Rourke, who as director of consumer banking at Santander led development of the product. "We're excited to introduce a banking product that is competitive, innovative and will really stand out in the marketplace."
The new product also ties back to Santander's global brand promise, "a bank for your ideas," by demonstrating that Santander listens to customers, simplifies interactions and enables customers to make progress toward bringing their ideas to life by providing useful, competitive
banking products and services.
Consumers can find out more about Santander's
extra20 checking by visiting
About UsSantander Bank, N.A. is a top 25 retail bank in
the United States by deposits, with a presence in
Rhode Island. Santander's 9,218 employees serve the financial goals of American consumers and businesses through its 718 branches and 2,099 ATMs. Headquartered in
Boston, Santander is supervised by the Office of the Currency of the Comptroller and is FDIC insured. Santander in
the United States is a wholly-owned, financially autonomous member of the Santander Group. For more information about Santander in
the United States, visit
www.santanderbank.com or call 877-768-2265.
Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial banking group with a presence in ten main markets. Santander is the largest bank in the euro zone by market capitalization. Founded in 1857, Santander had
EUR 1.342 trillion in managed funds, 102 million customers, 14,680 branches – more than any other international bank – and 186,785 employees at the close of June, 2013. It is the largest financial group in
Latin America and has significant positions in the
Poland and the northeast
United States. Santander was recognized in 2012 as Best Global Bank by
Euromoney, ranked as a top Greenest Global Bank in 2013 by
Bloomberg BusinessWeek and was named 2013 Sustainable Global Bank of the Year by
the Financial Times. Santander's attributable profit rose 29% from a year-earlier to
EUR 2,255 million in the first half of 2013. For more information about Santander, visit