Barclays Rainy Days verses Santander Edge savings accounts

35har1old

Barclays Rainy days Pays 5.12% on up to £5000 above that 0.50 % you also have to hold Barclays Blue rewards Fee £5 - Reward £5 = £0 Holding a joint account does not allow the second named on the account to apply for the savings account. When filling in your application make sure not to tick the box add details from account As you will end up with a joint account instead of a sole account. If this happens both parties will have to visit branch or send letters to have the one party removed.

Edge Saver 4% in the first year reducing to £3.50% on £4000 anything above this 0% Fee £3 mth Joint account both parties can have the savings account

Our Santander Edge current account comes with

Cashback on your bills

1% cashback (up to £10 a month) on selected household bills when you pay by Direct Debit

Cashback on your essential spend

1% cashback (up to £10 a month) at supermarkets and on travel costs when you use your debit card (exclusions apply)

Exclusive savings rates

An optional savings account with 4.00% AER / 3.93% gross (variable) interest on balances up to £4,000 (includes 0.50% AER (variable) bonus rate for the first 12 months from opening)

 

Arranged overdraft

Subject to status - learn more in the 'Overdrafts and charges' section 

Switcher cashback

£200 cashback when you switch your account to us
 

WillPS

What's your point or question?

35har1old

WillPS said:

What's your point or question?

I thought the question was in title. Also highlighting the fact that the second party can't have a savings account in their name

WillPS

I'm still not entirely sure what you're asking.

Would you like to know which is better? If so, obviously Barclays' Rainy Day Saver. Higher interest rate, higher max balance and the associated fee is reimbursed with very little effort.

35har1old

WillPS said:

I'm still not entirely sure what you're asking.

Would you like to know which is better? If so, obviously Barclays' Rainy Day Saver. Higher interest rate, higher max balance and the associated fee is reimbursed with very little effort.

Do you think its fare that the second named on the account is excluded from having there own savings account. and you havn't 
considered the possible cash back which could amount to £240 opposed to £0 difference in interest is only £56 on £5000

flaneurs_lobster

35har1old said:

WillPS said:

I'm still not entirely sure what you're asking.

Would you like to know which is better? If so, obviously Barclays' Rainy Day Saver. Higher interest rate, higher max balance and the associated fee is reimbursed with very little effort.

Do you think its fare that the second named on the account is excluded from having there own savings account. and you havn't 
considered the possible cash back which could amount to £240 opposed to £0 difference in interest is only £56 on £5000

If you want two Barclays Rainy Day Saver accounts then have each person open an account, or am I being too simplistic?

Nothing stopping you having the Barclays account(s) and the Santander, in fact get two of those as well - that's £400 in switch bonuses alone.

grumbler

35har1old said:

WillPS said:

I'm still not entirely sure what you're asking.

Would you like to know which is better? If so, obviously Barclays' Rainy Day Saver. Higher interest rate, higher max balance and the associated fee is reimbursed with very little effort.

Do you think its fare that the second named on the account is excluded from having there own savings account.

Yes, it's fair in this case - if you ask me.

35har1old

flaneurs_lobster said:

35har1old said:

WillPS said:

I'm still not entirely sure what you're asking.

Would you like to know which is better? If so, obviously Barclays' Rainy Day Saver. Higher interest rate, higher max balance and the associated fee is reimbursed with very little effort.

Do you think its fare that the second named on the account is excluded from having there own savings account. and you havn't 
considered the possible cash back which could amount to £240 opposed to £0 difference in interest is only £56 on £5000

If you want two Barclays Rainy Day Saver accounts then have each person open an account, or am I being too simplistic?

Nothing stopping you having the Barclays account(s) and the Santander, in fact get two of those as well - that's £400 in switch bonuses alone.

Yes It's being a little simplistic due to the fact that you have to fund another account £800 mth + 2 direct debits for Barclays

Santander is bringing to a close the continual process of switching accounts to receive the bonus payments plus you need two  current  accounts ready to switch with 2 direct debits each + £500mth x 2 see Extract From terms and conditions

2.2.2 not have previously received or participated in any other incentive for switching to any of our accounts or any account with cahoot or Cater Allen which are part of Santander UK plc; and

kaMelo

35har1old said:

flaneurs_lobster said:

35har1old said:

WillPS said:

I'm still not entirely sure what you're asking.

Would you like to know which is better? If so, obviously Barclays' Rainy Day Saver. Higher interest rate, higher max balance and the associated fee is reimbursed with very little effort.

Do you think its fare that the second named on the account is excluded from having there own savings account. and you havn't 
considered the possible cash back which could amount to £240 opposed to £0 difference in interest is only £56 on £5000

If you want two Barclays Rainy Day Saver accounts then have each person open an account, or am I being too simplistic?

Nothing stopping you having the Barclays account(s) and the Santander, in fact get two of those as well - that's £400 in switch bonuses alone.

Yes It's being a little simplistic due to the fact that you have to fund another account £800 mth + 2 direct debits for Barclays

Santander is bringing to a close the continual process of switching accounts to receive the bonus payments plus you need two  current  accounts ready to switch with 2 direct debits each + £500mth x 2 see Extract From terms and conditions

2.2.2 not have previously received or participated in any other incentive for switching to any of our accounts or any account with cahoot or Cater Allen which are part of Santander UK plc; and

Whilst you may have to fund both accounts with £800 there is no need to find an extra £800, you can use the same £800 to fund both accounts. Direct Debits are relatively easy to set up too. But, as alluded to above, this is not a zero sum game and there is nothing stopping anyone from having the Barclays and the Santander too to gain maximum benefits from both.

flaneurs_lobster

35har1old said:

Yes It's being a little simplistic due to the fact that you have to fund another account £800 mth + 2 direct debits for Barclays

Fully loaded Barclays Rainy Day pays ~£22 / month in interest. To get that I have 2 DDs paying a quid each to charities and I swap £800 in/out, takes 2 minutes. 

It's not exactly onerous. 

grumbler

I'd say that £22 figure is sort of misleading.
£8-9 is more meaningful - that's what you get on top of c.3% that you can get in other places without jumping through hoops.