How to name beneficiaries and fund a trust at Santander
Covers 9 deposit, 4 retirement, 1 investment, and 1 lending accounts — beneficiaries must be updated in-branch
Customer Service Center (Monday-Saturday 8am-8pm ET)
Santander Bank, 75 State Street, Boston, MA 02109
Customer Service Center (Monday-Saturday 8am-8pm ET)
Santander Bank, 75 State Street, Boston, MA 02109
Death Claims / Estate Processing
Santander Bank, N.A., P.O. Box 12646, Reading, PA 19612
There are two ways to keep your Santander accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
Santander has 15 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
- For natural persons: legal name, street address, and date of birth
- For trusts as beneficiary: trust name, address, and EIN
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Beneficiary changes require an in-branch visit; cannot be completed online, by mail, or by phone
- POD accounts are also known as Totten trusts or informal trust accounts (ITF)
- Multiple trustees allowed on informal trust accounts
- Trustees own the funds during their lifetimes and may withdraw or change beneficiaries at any time
- Upon death of last surviving trustee, funds distributed equally to surviving beneficiaries
- If all beneficiaries are present at the branch, each receives an equal share
- If not all beneficiaries are present, a check payable to all beneficiaries as tenants in common is issued
- Bank is not obligated to notify beneficiaries of trustee death or account existence
- If all beneficiaries predecease the last surviving trustee, balance goes to trustee's estate
- POD/ITF accounts avoid probate
Sources
Data sourced from Santander primary sources (18 pages reviewed). How we research.
Download these Santander instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Santander primary sources. Bring it to the branch or keep it beside the phone.
Customer Service Center (Monday-Saturday 8am-8pm ET)
Santander Bank, 75 State Street, Boston, MA 02109
Customer Service Center (Monday-Saturday 8am-8pm ET)
Santander Bank, 75 State Street, Boston, MA 02109
Death Claims / Estate Processing
Santander Bank, N.A., P.O. Box 12646, Reading, PA 19612
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