Santander Bank, formerly Sovereign Bank, is a retail banking company under the Spanish Santander Group. It was founded in 1902 and is headquartered in Boston, Massachusetts. It offers an array of financial services and products, including retail banking, mortgages, corporate banking, cash management, credit card, capital markets, trust and wealth management, and insurance. The bank is well known for its strong presence in the northeast, waivable monthly fees, low initial deposit in checking account, and automatic savings feature.