Moving Santander Edge a/c, keeping Edge Saver at 7%

Slinky

I'm planning on switching our joint Santander Edge account to Natwest for the £200 bonus, however I've just noticed they have upped the rate on the Edge Saver account to 7% (I'm sure I didn't get an email from them about it, I moved most of it over to Marcus last week when that went to 4.3%). I've just topped back up to £4K in the saver account, what will happen when I move the Edge current account over to Natwest, does anybody know?

antuk

Slinky said:

I'm planning on switching our joint Santander Edge account to Natwest for the £200 bonus, however I've just noticed they have upped the rate on the Edge Saver account to 7% (I'm sure I didn't get an email from them about it, I moved most of it over to Marcus last week when that went to 4.3%). I've just topped back up to £4K in the saver account, what will happen when I move the Edge Saver account over to Natwest, does anybody know?

According to the T&Cs it says

• You’ll need to continue to hold a Santander Edge current account to stay eligible for exclusive products. If you stop being eligible, we may close or downgrade your exclusive product(s).

Slinky

Hmm. Interesting that they use the words May close rather than Will close.

I wonder what would happen if I open another Edge account in my name only - existing one being switched is joint.

Middle_of_the_Road

Slinky said:

I'm planning on switching our joint Santander Edge account to Natwest for the £200 bonus, however I've just noticed they have upped the rate on the Edge Saver account to 7% (I'm sure I didn't get an email from them about it, I moved most of it over to Marcus last week when that went to 4.3%). I've just topped back up to £4K in the saver account, what will happen when I move the Edge Saver account over to Natwest, does anybody know?

Firstly, it's not possible to switch a joint account to Natwest.
Also, the Edge saver would not be switched when switching the Edge current account. 
Current account switching service, only switches current accounts.

flaneurs_lobster

Leave the Edge joint account where it is, both you and your co-holder could open Everyday current accounts and switch them to Natwest for £200 each.

35har1old

Slinky said:

Hmm. Interesting that they use the words May close rather than Will close.

I wonder what would happen if I open another Edge account in my name only - existing one being switched is joint.

You could've 2 edge Saver accounts with your joint account
Where you charged a fee for your edge account.
They is currently a link on MSE offering a ten pound Amazon gift card for opening  a edge account

Slinky

Middle_of_the_Road said:

Slinky said:

I'm planning on switching our joint Santander Edge account to Natwest for the £200 bonus, however I've just noticed they have upped the rate on the Edge Saver account to 7% (I'm sure I didn't get an email from them about it, I moved most of it over to Marcus last week when that went to 4.3%). I've just topped back up to £4K in the saver account, what will happen when I move the Edge Saver account over to Natwest, does anybody know?

Firstly, it's not possible to switch a joint account to Natwest.
Also, the Edge saver would not be switched when switching the Edge current account. 
Current account switching service, only switches current accounts.

There doesn't seem to be anything stopping the transfer so far. It's a joint account to joint account transfer. Sorry, I'm not wanting the Saver account to be switched, just the Edge current account.  Just wondering how quickly Santander may reduce interest or close the Saver account.

soulsaver

Slinky said:

Middle_of_the_Road said:

Slinky said:

I'm planning on switching our joint Santander Edge account to Natwest for the £200 bonus, however I've just noticed they have upped the rate on the Edge Saver account to 7% (I'm sure I didn't get an email from them about it, I moved most of it over to Marcus last week when that went to 4.3%). I've just topped back up to £4K in the saver account, what will happen when I move the Edge Saver account over to Natwest, does anybody know?

Firstly, it's not possible to switch a joint account to Natwest.
Also, the Edge saver would not be switched when switching the Edge current account. 
Current account switching service, only switches current accounts.

There doesn't seem to be anything stopping the transfer so far. It's a joint account to joint account transfer. Sorry, I'm not wanting the Saver account to be switched, just the Edge current account.  Just wondering how quickly Santander may reduce interest or close the Saver account.

Simple, just open a solo Edge.

Slinky

Just bringing this up again, we moved our joint Edge account to Natwest to get the bonus at the start of September. Santander have finally noticed this and have written to say they will be converting the Saver accounts to a much lower paying interest account, but not til the end of November. They say we can keep an Edge Saver account if we open a new Edge account.  Seeing that the high interest is only for a year, we'll leave it to late November, open a new Edge account, and hopefully new Edge Savers with new end dates.

I opened an Edge account in my name, so currently have 2 Edge Savers with 7% on £8K