Banker & Tradesman file photo

Santander Bank will raise its minimum hourly wage to $20, affecting employees who work in branches, call centers and corporate offices.

The bank’s U.S. parent company, Santander Holdings USA Inc., said in a statement Wednesday that the wage increase is available to employees of Santander Bank and Santander Consumer USA, the company’s auto lending business.

The hourly wage of $20 is nearly triple the federal minimum wage and higher than the minimum wage offered by most of its leading competitors, the bank said. The 2022 minimum wage in Massachusetts is $14.25.

Santander Bank retail branch employees received the wage increase in January and February, the bank said, noting that employees continued to support clients in-person during the Omicron surge. The minimum wage at Santander Bank has increased by more than 33 percent since 2018, the bank said.

“Our customer-facing team members across Santander US provide in-person support and business critical services to our clients to help them achieve their financial goals,” Santander US CEO Tim Wennes said in the statement. “This latest pay increase recognizes their hard work and contributions and ensures we remain competitive in the marketplace as we look to attract and retain top talent.”

The increase goes into effect for the bank’s operations teams on April 3, while Santander Consumer’s operations team will see the increase on June 1. Hourly wages have increased 16 percent at Santander Consumer over two years, the bank said. Operations teams will start returning to the office on a flexible, hybrid model, according to the statement.

“Santander strives to be an employer of choice and is committed to supporting its team members, especially through the pandemic,” the statement said.