The Top Easy Access Savings Discussion Area

AndyTh_2

I didn't get any email about the wealth codes, and hadn't opened up the app, but found the page today https://www.getchip.uk/wealth-codes#wc-codes

Stargunner

Growingold said:

SirHugo said:

BestSeagull said:

SirHugo said:

BestSeagull said:

janusdesign said:

castle96 said:

Just to confirm - no£3 fee ... TRUE?if I dont bother with cashback, etc. Just want to bung £4k in there

just chatted with Santander...

14:00, Aug 17 - Sarah: The fee is applied after the conditions of the account are met for the first time.
14:01, Aug 17 - You: so if I never use the current account, there is no fee? also, is there a hard credit check done on an application for the current account ??
14:01, Aug 17 - Sarah: That's correct There is, yes

i'm not sure that I can be bothered to apply for a current account that i'm never going to use, just to access a savings account that lasts for a year for £280 in interest - i'll likely wait until there is a switch offer and then use one of my other unused current accounts for that.

I don't think I'm going to bother with this one either, too many hoops.
 And when you think about it, we're not  missing out on £280. Just on the 2% difference between Tandem at 5% and Santander at 7% so that's what, £80. Less if rates continue to rise.

No hoops - less than 10 mins to open the account, opening the Edge saver was immediate, put the 4k in and that's that.

Probably won't use the account but good to have an extra fee free card for abroad. At the end of the day it's a nice little burner account for when the next switch offer comes around that I'm eligible for. I just switched my Santander Everyday account last month.

What about the £3 fee though, and this from MSE? 

"To get it, you need a Santander Edge current account – a bills cashback account with a £3 monthly fee. And to keep the current account you must deposit at least £500 a month and have two or more active direct debits."

If you have a look through the last several pages of this thread you'll see that you don't have to fulfil the criteria you mentioned - it's only needed to activate the cashback element of the account. If you don't set up two direct debits - or pay in the £500 a month - then the £3 fee never kicks in.

The comments about this started around the morning of the 15th August.

A question about the £3 fee for Santander Edge.  By my understanding If you don't fulfil the conditions for Cashback you don't pay the fee but it says you have to make deposits to the Edge Saver through the current account.  Therefore by depositing say £4,000 in the current account to transfer to the Edge Saver would this trigger the criteria for the fee being charged even I I don't set up any Direct Debits?  I;m a little confused,  Thanks in advance for your replies.

No it won't, because they state that to earn cashback, you must pay £500 into your account each month AND have at least two active direct debits. If you don't do both of these you won't earn any cashback, therefore you won't be charged the fee.

Nick_C

Edge Saver. 

"You can only pay money into your account online from your Santander Edge current account."

I hadn't spotted that before. 

If they meant "may" or "must" they should have said so.

I funded my Edge Saver from my 123 Lite Current Account.

The Edge Saver had a standard sort code and account number so you can fund it from anywhere.  

ranciduk

Shawbrook now

Gross 4.83% Annually 4.73% Monthly

BestSeagull

Stargunner said:

I got the same, so I printed off the form that they sent and posted it to them.
You won’t be able to successfully apply for the edge saver until your edge current account appears in your app.

You may already be sorted but in case anyone else gets the email from Santander with the form to fill in and post with ID when opening the edge current account, I called them this morning and apparently in my case, the reason for it was a discrepancy between the way I had filled in the address field and how it appeared on their system already.

He fixed it so they matched and the system will update overnight so the edge current account will appear with my other accounts in online banking and I'll be able to apply for the edge saver tomorrow.  I'm keeping my fingers crossed that this is the case anyway.

But definitely worth giving them a call and seeing if the issue can be fixed over the phone instead of having to wait if doing it by post.

cadguy77

Nick_C said:

Edge Saver. 

"You can only pay money into your account online from your Santander Edge current account."

I hadn't spotted that before. 

If they meant "may" or "must" they should have said so.

I funded my Edge Saver from my 123 Lite Current Account.

The Edge Saver had a standard sort code and account number so you can fund it from anywhere.  

I also funded my Edge Saver from my 123 account

Malchester

cadguy77 said:

Nick_C said:

Edge Saver. 

"You can only pay money into your account online from your Santander Edge current account."

I hadn't spotted that before. 

If they meant "may" or "must" they should have said so.

I funded my Edge Saver from my 123 Lite Current Account.

The Edge Saver had a standard sort code and account number so you can fund it from anywhere.  

I also funded my Edge Saver from my 123 account

Just sent a faster payment to Edge Saver from my Nationwide FlexAccount OK

ForumUser7

Hanley to 5.50%??!

ForumUser7

ForumUser7 said:

Hanley to 5.50%??!

Based on info on the Hanley dedicated thread, it appears the information is incorrect and it is only going to 5.25%. Thought they’d given a generous extra boost to compensate for the ts and cs change, but I was very surprised.

SirHugo

cadguy77 said:

Nick_C said:

Edge Saver. 

"You can only pay money into your account online from your Santander Edge current account."

I hadn't spotted that before. 

If they meant "may" or "must" they should have said so.

I funded my Edge Saver from my 123 Lite Current Account.

The Edge Saver had a standard sort code and account number so you can fund it from anywhere.  

I also funded my Edge Saver from my 123 account

Yep, I also funded my Edge Saver from my 123 account. Seemed a bit pointless moving the money into the Edge current account first.