The Top Easy Access Savings Discussion Area

TwiceNightly

Sorry to go over old ground here about the Santander Edge account, but if I’m reading this right and change my current account to an Edge account and don’t transfer money in each month or set up a direct debit then I’ll pay £3 a month for:

• A current account it can use abroad with no transaction fees

• a savings account at 7% where I can put £4k

Is that right? I wouldn’t get the other benefits but would have access to their ‘boosts, if I wanted to use it as a spending account.

Thanks!

Mr._H_2

TwiceNightly said:

Sorry to go over old ground here about the Santander Edge account, but if I’m reading this right and change my current account to an Edge account and don’t transfer money in each month or set up a direct debit then I’ll pay £3 a month

No. The point is that if you don't set up any DDs, you won't get cashback, but you also won't be charged the £3* and you'll still have access to the Edge saver. If you do this, it's possible that after a few months Santander might revert your Edge account to a normal account, but that is just speculation and no-one knows for sure.

When you say "change" your current account, if you mean that you already have a Santander account you are thinking of changing into an Edge account, then you don't have to do that if you don't want to; you can just open a new Edge account.

* I should add that in an overabundance of caution, I have left £3 in my Edge account in case I'm erroneously charged the fee. If I get charged, I would dispute it because the T&Cs are very clear: "We’ll start charging this fee after you meet the conditions for earning cashback for the first time."

TwiceNightly

Thanks, yes I have a current account with them that I don’t use at the moment and am looking around various banks for a daily spending/spending abroad account and came across this.

Seems like it might be a good fit for that? I’d transfer some money into the account and use it for spending, taking advantage of boosts where I can and get access to the savings account.

MichaelAP

I don’t know why some of our members think their Tandem bonus is safe just because it does not expire until a year from accepting it
Tandem only have to give you 30 days notice to remove it.

Bazzalona13295

MichaelAP said:

I don’t know why some of our members think their Tandem bonus is safe just because it does not expire until a year from accepting it
Tandem only have to give you 30 days notice to remove it.

Cue a Tandem exodus.

BestSeagull

MichaelAP said:

I don’t know why some of our members think their Tandem bonus is safe just because it does not expire until a year from accepting it
Tandem only have to give you 30 days notice to remove it.

It wouldn't be a good look for them if they did that any time soon.

jpsman

Just opened a Santander Edge Saver and as interest is paid monthly to the max balance of 4k, is it possible to have the interest paid out of the account? Has anyone tried? (I'm new to Santander)

Zopa_Trooper

I've a further question in regard Santander Edge account. Does the 12 month bonus on the saver end a year after you open the current account or a year after you open the savings part?

jpsman

Zopa_Trooper said:

I've a further question in regard Santander Edge account. Does the 12 month bonus on the saver end a year after you open the current account or a year after you open the savings part?

The bonus is 12 months upon opening the Edge Saver

Stargunner

jpsman said:

Zopa_Trooper said:

I've a further question in regard Santander Edge account. Does the 12 month bonus on the saver end a year after you open the current account or a year after you open the savings part?

The bonus is 12 months upon opening the Edge Saver

You can’t have it paid away, so best to transfer it out as soon as it has been paid.