Santander Bi Weekly Payments

[vtguy25]

I am curious if anyone has any information about setting up bi-weekly payments with santander.  I have a terrible loan with them and want to start paying it down faster then the terms of the loan.  I tried to set my auto payment through the webstie and it does give you an option to do bi weekly then when you try to choose it it say not available at this time.  So I am thinking because I have called them twice about this and they said that they won't do it, if I set up an online bill pay and just pay it myself every other Friday will the apply the payment correctly? I don't want it to end up sitting in an account waiting for the whole payment to get there before they pay my payment.  I want to see my balance start going down everyother week.  Any one had any luck paying everyother week with Santander (in my opion the WORST bank I have ever delat with) No one to blame besides my self for the terrible loan though LOL!! Thanks for any advice and experices.

[0REDSOX7]

I don't think Santander is as bad of a bank as many people make them out to be.

I, too, just started a loan with them. I called and was told that I had to Mail in a check for payments to apply to principal - so that's what I'm going to do every month.

I did set up autopay with them today so they will deduct my payment each month so I don't have to worry about them harassing me if I send it through my bank.

Best of luck. I plan to refinance in a year or so.

[AtlantaWill30339]

I'm in the same boat with them. They are weird about biweekly payments and they do charge for payments via the website or called in. I've had a relationship with them for almost 2 years and gave asked quite a few times about this very question. there's 2 ways to do this. First being make a full payment early, then begin paying half a full payment (or more) biweekly. The other option is if you can afford it (and what I do) is to make a full payment bi weekly. since my payment is so low, this has been easy for me..and my 72 month loan will be paid off in a few more months. Note- if you do the first option, you still have to call in after each payment to tell them how to apply the payment which is a huge pain!

[vtguy25]

Wow that is great for you congrats on almost being payment free!! I am just so frustrated with them that they are a huge bank and can't process payments bi-weekly.  I guess I am just going to have to send them in a check for the princpal payment just so annoying!!! Thanks for your response.

[AtlantaWill30339]

Thanks! No problem. I made a payment over the weekend and called in once again to get them to apply it to principle. I will not miss this...

[ProV]

Just a word of advice w/ Santander..  If you have Auto-Pay setup, make sure you double check your account when it comes to the final payment!  I made all payments on time throughout the life of the loan, and the final payment was taken off of auto-pay.  Due to a death in the family, i never realized this, and ultimately ended up with a charge off (which is now paid, and account balance $0 and closed).  Just be careful, and make sure you stay on top of it!