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Columbia Announces New Campus Banking System

In an email sent out to the Columbia community earlier today, Columbia has announced that starting in a few weeks, Columbia ATMs will be switching from Citibank to a new system supported by Santander Banking.

The full message can be found below.

Dear Columbia Community,

I am pleased to share that the University is changing to a banking service agreement that offers a more robust package of discounts for faculty, staff and students, beginning in June.  The new service package is provided by Santander, and includes no-fee banking from the ages of 16 to 25, low or no-cost banking for faculty and staff, no-fee mobile transfers, no-fee incoming international and domestic wire transfers for student value checking accounts, and convenient on-campus ATMs.

Accordingly, the banks will begin the transition of our on-campus ATMs to Santander during the week of May 23. We expect this process to be complete by June 10.

We recognize that this process may cause inconvenience to you, and we apologize in advance for this temporary disruption. For your reference, we have prepared a map of the ATMs and Banking Centers. We will also post signs at each ATM in the coming weeks explaining the nature of the transition and timing details.

In January 2016, the University embarked on an extensive review of campus banking, involving a Request for Proposal and presentations from seven potential vendors including Citibank. We convened a committee of representatives from Columbia Finance, Student Financial Services, Campus Services and Student Life to review the existing bank agreement and make a recommendation for the contract award. Columbia arrived at the decision to change our banking agreement after careful consideration of feedback from faculty, staff and students, and extensive review of the vendor proposals.

Ultimately, the committee unanimously concluded that Santander offers the best available overall program at this time, based on several key criteria:

  • No-Fee banking from the age of 16-25
  • No-Fee ATMs in Lerner Hall and Bard Hall, in proximity to where students reside
  • Low- or no-cost banking for faculty and staff
  • No-Fee incoming international and domestic wire transfers for student value checking accounts
  • No-Fee mobile transfers to both Santander users and non-Santander users
  • Appealing mobile option, with more robust options slated for Fall 2016
  • Education and universities are a key focus for Santander, both at the retail level and philanthropically
  • Santander currently supports the University’s Global Centers based in Brazil, Eastern & Southern Africa
  • An established international presence, particularly in South America and Europe

If you would like to consider banking with Santander, please see the below list of resources, which includes information about their banking packages, branch locations, and other services:

For information on continued benefits through Citibank, please contact your local branch.

Again, thank you for your patience during this time of transition.

Best regards,

Scott J. Wright

Vice President, Campus Services

Columbia University

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