The Top Easy Access Savings Discussion Area

chris_the_bee

simonsmithsays said:

NORTH WEST & LOYALTY EASY ACCESS SAVER (1 WITHDRAWAL)

Has anyone got a copy of the T&Cs please?

Specifically I'd like to know what the minimum opening and operating balance is and also if the 1 withdrawal is one per year or one for the lifetime of the account

TIA

Following extracted from the NORTH WEST & LOYALTY EASY ACCESS SAVER (1 WITHDRAWAL)T's&C's
"The minimum account balance to be maintained is £1,000. Should the balance reduce below £1,000 the account will be closed."
"at least the minimum deposit of £1,000"
"If you make more than one withdrawal your account will be transferred to a Chorleian Instant Access Account (currently at a rate of 2.50% Gross p.a/AER)."
"The account can be held on your own or jointly with someone else. Only one account can be opened per person. Other Easy Access Accounts can be held alongside this account"

It is unclear whether the 1 withdrawal is per year or for the account lifetime.

10_66

10_66 said:

chris_the_bee said:

10_66 said:

chris_the_bee said:

 Having opened both the North West and the Easy Access (1 Withdrawal) accounts, and despite their T's&C's saying "Other Easy Access Accounts can be held alongside this account.", it seems that what they really mean is that you cannot have more than one (! Withdrawal) account.
Email from Chorley BS today - 
"Unfortunately you cannot hold two 1 withdrawal accounts, as you already have the North West & Loyalty Easy Access Sav

So are they refusing the payments that have been made into the account then?  I opened the Easy Access on the 17th (having checked that it was ok to do so in their T&Cs as I already held the NW&L Easy Access).  I also received a secure message from them saying the account opening was being processed.  They're making a real pig's ear of it.

Not sure as I received the email before I had the chance to fund it. Perhaps someone will be bold enough to try funding it.

I did so on the 17th, but as it was late in the day it wouldn't have been actioned until yesterday, so won't appear until tomorrow - unless declined.  It's not been bounced back into my bank account - yet 🙄

Just to confirm that the payment has been received in the Easy Access (1 withdrawal), and nothing from them to say unable to have both (NW&L Easy Access).

Zaul22

Weirdly Zopa have increased their IA ISA to 5.08% making it much better than their normal smart saver and actually competitive with other IA accounts. An interestingly odd move for them. 

pookey

wmb194 said:

pookey said:

flaneurs_lobster said:

allegro120 said:

n3ophyte said:

Re: Santander Edge Current Account

I got the same message but will ignore it until I get charged.

The same here.  I will ignore it. Some people on here said that they were running Edge for a long time without DDs and never had to pay a fee.  I opened mine on 16th Aug, wasn't charged in September.  I've put £3 in each of my accounts just in case, but it turned to be unnecessary so I reduced my balances to zero.

Bit more on this from Andy @ Be Clever with your Cash

Santander Edge Saver hack update

A quick one here. Last time I shared a potential hack that suggested you could open a Santander Edge account and avoid the monthly fee – meaning you’d get the full 7% on the linked Edge Saver account (on up to £4,000).

It entailed not adding any direct debits or paying in the required minimum, which the terms and conditions suggested wouldn’t trigger the fee.

Sadly Santander have confirmed to me that this isn’t likely to work. Here’s what their press office told me:

“The fee for the Edge Account is charged once a customer qualifies for cashback for the first time. If after opening, the customer’s circumstances change and the account is no longer right for them or they don’t meet the requirements of the terms and conditions they can, or we may, switch them to a different account within our range which doesn’t charge a fee.“

The choice of “may” in the wording could be interpreted as not a guarantee you’ll be downgraded if you don’t pay the fee. So you might want to still give it a try. Let me know what happens if you do.

https://becleverwithyourcash.com/october-2023s-savings-round-up--news/?utm_source=D2Cmail&utm_medium=email&utm_campaign=Banking_savings&utm_content=2023_10_12_hyperlink#Santander_Edge_Saver_hack_update

Do people still have this without paying the fee please? The Santander edge 7% account 


I'm tempted to do it and if it gets downgraded just move the money to another account 

From many years ago the same term was on the 123 accounts and they are clear that the fee will only begin to be charged once you've added two DDs. I've had 123 accounts and now this Edge account and have never been charged a fee or had an account downgraded because I didn't add DDs.

So to get the 7% i open the edge current account and then when it's open, open the 7% savings account and then transfer my money into it? 

cadguy77

pookey said:

wmb194 said:

pookey said:

flaneurs_lobster said:

allegro120 said:

n3ophyte said:

Re: Santander Edge Current Account

I got the same message but will ignore it until I get charged.

The same here.  I will ignore it. Some people on here said that they were running Edge for a long time without DDs and never had to pay a fee.  I opened mine on 16th Aug, wasn't charged in September.  I've put £3 in each of my accounts just in case, but it turned to be unnecessary so I reduced my balances to zero.

Bit more on this from Andy @ Be Clever with your Cash

Santander Edge Saver hack update

A quick one here. Last time I shared a potential hack that suggested you could open a Santander Edge account and avoid the monthly fee – meaning you’d get the full 7% on the linked Edge Saver account (on up to £4,000).

It entailed not adding any direct debits or paying in the required minimum, which the terms and conditions suggested wouldn’t trigger the fee.

Sadly Santander have confirmed to me that this isn’t likely to work. Here’s what their press office told me:

“The fee for the Edge Account is charged once a customer qualifies for cashback for the first time. If after opening, the customer’s circumstances change and the account is no longer right for them or they don’t meet the requirements of the terms and conditions they can, or we may, switch them to a different account within our range which doesn’t charge a fee.“

The choice of “may” in the wording could be interpreted as not a guarantee you’ll be downgraded if you don’t pay the fee. So you might want to still give it a try. Let me know what happens if you do.

https://becleverwithyourcash.com/october-2023s-savings-round-up--news/?utm_source=D2Cmail&utm_medium=email&utm_campaign=Banking_savings&utm_content=2023_10_12_hyperlink#Santander_Edge_Saver_hack_update

Do people still have this without paying the fee please? The Santander edge 7% account 


I'm tempted to do it and if it gets downgraded just move the money to another account 

From many years ago the same term was on the 123 accounts and they are clear that the fee will only begin to be charged once you've added two DDs. I've had 123 accounts and now this Edge account and have never been charged a fee or had an account downgraded because I didn't add DDs.

So to get the 7% i open the edge current account and then when it's open, open the 7% savings account and then transfer my money into it? 

Yes 10 char 

martinm1

flaneurs_lobster said:

10_66 said:

pookey said:

 Do people still have this without paying the fee please? The Santander edge 7% account 

I'm tempted to do it and if it gets downgraded just move the money to another account 

Yes, still got it.  I do keep getting Santander's nudges suggesting that I haven't received or don't understand the Edge Current Account terms, but nothing detrimental has happened - yet.

Ditto. Running since 04/09.

I got a message today saying I'm paying a fee for my account.  I've only ever paid in 600 since account opened on 28/09.  I thought there were no fees until I met the cashback requirement of 2 DDs

flaneurs_lobster

martinm1 said:

flaneurs_lobster said:

10_66 said:

pookey said:

 Do people still have this without paying the fee please? The Santander edge 7% account 

I'm tempted to do it and if it gets downgraded just move the money to another account 

Yes, still got it.  I do keep getting Santander's nudges suggesting that I haven't received or don't understand the Edge Current Account terms, but nothing detrimental has happened - yet.

Ditto. Running since 04/09.

I got a message today saying I'm paying a fee for my account.  I've only ever paid in 600 since account opened on 28/09.  I thought there were no fees until I met the cashback requirement of 2 DDs

Was it an email? SMS? In-app?

Can you post it (redacted if it has quoted personal data)?

Mr._H_2

martinm1 said:

flaneurs_lobster said:

10_66 said:

pookey said:

 Do people still have this without paying the fee please? The Santander edge 7% account 

I'm tempted to do it and if it gets downgraded just move the money to another account 

Yes, still got it.  I do keep getting Santander's nudges suggesting that I haven't received or don't understand the Edge Current Account terms, but nothing detrimental has happened - yet.

Ditto. Running since 04/09.

I got a message today saying I'm paying a fee for my account.  I've only ever paid in 600 since account opened on 28/09.  I thought there were no fees until I met the cashback requirement of 2 DDs

It’s probably the same message that some of us reported a few pages back in this thread. The message is probably wrong - has £3 actually been taken out of your account? I got the message but I haven’t been charged the fee.

martinm1

Mr._H_2 said:

martinm1 said:

flaneurs_lobster said:

10_66 said:

pookey said:

 Do people still have this without paying the fee please? The Santander edge 7% account 

I'm tempted to do it and if it gets downgraded just move the money to another account 

Yes, still got it.  I do keep getting Santander's nudges suggesting that I haven't received or don't understand the Edge Current Account terms, but nothing detrimental has happened - yet.

Ditto. Running since 04/09.

I got a message today saying I'm paying a fee for my account.  I've only ever paid in 600 since account opened on 28/09.  I thought there were no fees until I met the cashback requirement of 2 DDs

It’s probably the same message that some of us reported a few pages back in this thread. The message is probably wrong - has £3 actually been taken out of your account? I got the message but I haven’t been charged the fee.

It was a pop up in the app.  I tried to screenshot but it wouldn't let me. No money has gone out of the account yet.  It has a zero balance though.

Mr._H_2

martinm1 said:

Mr._H_2 said:

martinm1 said:

flaneurs_lobster said:

10_66 said:

pookey said:

 Do people still have this without paying the fee please? The Santander edge 7% account 

I'm tempted to do it and if it gets downgraded just move the money to another account 

Yes, still got it.  I do keep getting Santander's nudges suggesting that I haven't received or don't understand the Edge Current Account terms, but nothing detrimental has happened - yet.

Ditto. Running since 04/09.

I got a message today saying I'm paying a fee for my account.  I've only ever paid in 600 since account opened on 28/09.  I thought there were no fees until I met the cashback requirement of 2 DDs

It’s probably the same message that some of us reported a few pages back in this thread. The message is probably wrong - has £3 actually been taken out of your account? I got the message but I haven’t been charged the fee.

It was a pop up in the app.  I tried to screenshot but it wouldn't let me. No money has gone out of the account yet.  It has a zero balance though.

Sounds like the same one I got. Saw it a week or so ago. No fee taken. I just think that whoever programmed the logic that decides who gets shown the message, made a mistake.

Out of an abundance of caution, I have left £3 in all of my Edge accounts, in case Santander erroneously take the fee.