Webster Bank

Commercial bank · Stamford, United States

Webster Bank is a commercial bank based in Stamford, Connecticut with 177 banking centres across Connecticut, Massachusetts, Rhode Island, New Jersey and New York. On 20 August 2026 Santander completed its acquisition and merged Webster Bank into Santander Bank, N.A.; the Webster name stays as a division and branding on branches and digital platforms, but the separate charter has ended. Its final FDIC report showed USD 85.9 billion of assets at 30 June 2026. For businesses it sells three tiers of business checking sorted by monthly transaction count and balance, business savings and money market accounts, e-Treasury cash management with payables, receivables and positive pay, letters of credit and international wires, and credit cards issued by Elan Financial Services. It also owns HSA Bank, the health savings account administrator, and Ametros.

Legal name: Webster Bank, a division of Santander Bank, N.A.
Regulated by: Office of the Comptroller of the Currency (national bank charter, accepted 2004; charter ended 20 August 2026), FDIC (deposit insurance, certificate 18221), European Central Bank (approved the Santander acquisition on 21 July 2026)
Licence confirmed: yes, on a regulator's own list
Established: 1935
Website: www.websterbank.com

Scores, 0 to 10

7.5United States

177 banking centres and 316 ATMs across five northeastern states with USD 85.9 billion of assets, now operating as a division of Santander Bank, N.A. after the 20 August 2026 merger. · source

7.5Financial strength & stability

USD 85.9 billion of assets at its final FDIC report date, now merged into Santander Bank, N.A. after approvals by the OCC on 12 June 2026 and the European Central Bank on 21 July 2026. · source

6.0Cross-border payments, FX and multi-currency accounts

International services cover wire transfers and letters of credit for commercial clients, but Webster publishes no currency list, no FX margin and no multi-currency held balance. e-Treasury with a secure browser and token client, payables including commercial card, ACH, wires and integrated payables, receivables with lockbox, cash vault, virtual account manager and remote deposit capture, plus three kinds of positive pay. · source

6.0Trade, manufacturing & import-export

Webster issues letters of credit and provides wire transfers and working capital management for commercial businesses through its international services desk. · source

6.0Customer satisfaction

The Webster Bank mobile app rates 4.7 out of 5 from 22,433 App Store ratings, while the commercial e-Treasury Mobile app rates 2.0 from 15 and Trustpilot holds no reviews for websterbank.com. · source

5.0Business cards (Visa, Mastercard)

Business credit cards are offered through a partnership with Elan Financial Services, which is the creditor and issuer under separate Visa and Mastercard licences; commercial card sits inside the payables suite. · source

5.0On-ramp: buy crypto with fiat

Evidence is thin: neither Webster nor its new owner Santander US publishes a rule on business payments to crypto exchanges, and no blocking reports were found; the combined bank's policy after the August 2026 merger is not yet public. · source

5.0Off-ramp: crypto to fiat in a business account

Evidence is thin: no published source-of-funds process for crypto proceeds and no reports of returned exchange wires at Webster, checked September 2026. · source

4.5Lowest fees

Business checking is tiered by transaction volume and requires USD 2,000 in checking or USD 4,000 combined at the entry level; business savings opens with USD 25 and waives its monthly maintenance fee at a USD 500 average collected balance. · source

4.0Best interest on business balances

Business money market accounts pay tiered rates that rise with balance, but the business savings page publishes no APY for business accounts. · source

4.0Fast digital onboarding

Webster publishes no time to open a business account and routes business savings and money market customers to a relationship manager as single point of contact. · source

4.0Online businesses: e-commerce and SaaS

Merchant services, online payments and remote deposit capture sit inside the receivables suite, but there is no multi-currency collection account or marketplace payout product. No public API, no accounting integration and no recurring-revenue financing appear in the business banking range; Zelle for business is the only self-serve payment feature named. · source

3.5Crypto-friendly bank

Webster publishes no policy on banking crypto exchanges, brokers or miners, and no digital-asset product appears in the business banking or treasury management lists. · source

3.5Fintech companies that need a partner bank

No safeguarding account, sponsor banking, BIN sponsorship or rail access for payment firms appears in the product range, and Webster publishes no fintech partnership policy. · source

3.5Startups & VC-backed companies

The business banking range is checking, savings, treasury and lending with a relationship manager; there is no startup, venture debt or pre-revenue programme. · source

3.5High-risk verticals (iGaming, cannabis, adult, forex)

Webster publishes no policy on gambling, cannabis, adult or forex businesses and lists no onboarding path for any of those verticals. · source

3.0Foreign-owned & non-resident companies

Webster publishes no path for companies whose owners live abroad; all 177 banking centres are in five northeastern states and the site names no remote onboarding for non-residents. · source

2.0Stablecoins (USDC, USDT and others)

Webster joined the USDF Consortium for a bank-minted tokenized deposit on the Provenance blockchain in 2022, but no USDF or stablecoin service for its business clients was found, checked September 2026. · source

1.0Crypto wallet and custody for a business

Webster's treasury management menu lists payables, receivables, merchant services and lockbox with no crypto custody, and since 20 August 2026 Webster Bank is part of Santander Bank, N.A., which offers no business crypto custody in the US either, checked September 2026. · source

1.0Accept crypto payments

Webster's merchant services take cards only, with no crypto or stablecoin acceptance on its treasury pages, checked September 2026. · source

1.0Bitcoin

No bitcoin buying, holding or transfer for business clients at Webster, checked on its business and treasury pages September 2026. · source

1.0Ethereum

No ether product for business clients at Webster, checked on its business and treasury pages September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.