Grades are also broken down by the financial products offered be each institution. Santander Consumer USA is rated "B" in Debt Collection, "A-" in Credit Reporting, "A" in Bank Account Services, and "F" in Consumer Loans. Click on any of the financial products to see how Santander Consumer USA compares.
Santander Consumer USA has received 1,055 consumer complaints since February, 2012 – more than 98% of other banks.
Of those complaints, 99.9% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' Santander Consumer USA meets the 60-day response deadline more frequently than 62.1% of other banks.
After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 31.9% of customers dispute Santander Consumer USA's response to complaints — worse than 91.8% of other companies.
Most of Santander Consumer USA's customers complain about consumer loans with the primary issue being "managing the loan or lease."
Santander Consumer USA is primarily a commercial bank with a commercial lending specialization. Santander Consumer USA is based in Wilmington, Delaware and is the 23rd largest FDIC insured bank in America.
Naturally larger banks receive more customer complaints than smaller ones. This does not necessarily indicate that a bank is better than another in terms of service and customer support.
However, even after adjusting for bank size and number of customers, Santander Consumer USA receives far more complaints than most other banks. Santander Consumer USA recieves more complaints per customer than 98% of other banks – customers are significantly more likely to file complaints than customers of most other banks.
|#||Financial Product||Sub-Product||Complaint Issue||Complaint Count|
|1||Consumer loan||Vehicle loan||Managing the loan or lease||616|
|2||Consumer loan||Vehicle loan||Problems when you are unable to pay||240|
|3||Consumer loan||Vehicle loan||Taking out the loan or lease||145|
|4||Consumer loan||Vehicle loan||Shopping for a loan or lease||51|
|5||Consumer loan||Vehicle lease||Managing the loan or lease||26|
|6||Debt collection||Auto||Cont'd attempts collect debt not owed||22|
|7||Consumer loan||Installment loan||Managing the loan or lease||18|
|8||Debt collection||Auto||Communication tactics||18|
|9||Debt collection||Auto||Cont'd attempts collect debt not owed||16|
|10||Bank account or service||Other bank product/service||Account opening, closing, or management||14|
|#||Company Response||Response Count||Timely Response Count||Disputed Count|
|1||Closed with explanation||1,184||1,184 (100%)||358 (30.2%)|
|2||Closed||90||89 (98.9%)||33 (36.7%)|
|3||Closed with non-monetary relief||30||30 (100%)||7 (23.3%)|
|4||Closed without relief||20||20 (100%)||5 (25%)|
|5||Closed with monetary relief||12||12 (100%)||3 (25%)|
|6||Closed with relief||1||1 (100%)||0 (0%)|