Santander Easy Access Limited Edition

flaneurs_lobster

Shiver said:

Hi.. I've been a Santander bank customer for many years with several accounts. I today opened an Edge Current account so that I can have an Edge Saver.  The accounts were available immediately and my online account allowed me to transfer £4k directly from my Easy Access saver into the Edge saver..  I've since read that the money should have gone via the Edge current account. Has anyone had any comeback from transferring money into an edge saver this way? Should I go back and remove the £4k and feed it in via the Edge current account - I understand that if I don't activate a DD from the current account I will not incur the £3 fee just by putting money in the account. Cheers S.

My initial fund of £4K back in Aug was from Barclays - no comeback (other than interest).

allegro120

Shiver said:

Hi.. I've been a Santander bank customer for many years with several accounts. I today opened an Edge Current account so that I can have an Edge Saver.  The accounts were available immediately and my online account allowed me to transfer £4k directly from my Easy Access saver into the Edge saver..  I've since read that the money should have gone via the Edge current account. Has anyone had any comeback from transferring money into an edge saver this way? Should I go back and remove the £4k and feed it in via the Edge current account - I understand that if I don't activate a DD from the current account I will not incur the £3 fee just by putting money in the account. Cheers S.

I transferred from Easy Access to Edge Saver in August last year because that was the easiest way to do it. No problems with that.  I'm sure you can deposit to Edge saver from any bank account so long as feeding bank account allows you to do this.

I've never activated cash back so don't have to pay £3 fee.  I get occasional messages reminding me to set up direct debits but I ignore them.

Shiver

Thanks to the 3 posters above for the prompt response. I'll leave things as they are.  Thanks again. Cheers - S

musicman2004

I phoned Santander in March to ask when the rate would drop. They said there was nothing planned. I rang again last week with the same question and was told it would drop one year after I opened it ‐ September!

Clearly Santander staff don't read MSE posts! I'll move funds to Coventry which is still 5.2% for me.

soulsaver

musicman2004 said:

I phoned Santander in March to ask when the rate would drop. They said there was nothing planned. I rang again last week with the same question and was told it would drop one year after I opened it ‐ September!

Clearly Santander staff don't read MSE posts! I'll move funds to Coventry which is still 5.2% for me.

Coventry which is still 5.2% is limited access - Triple Access.

mebu60

musicman2004 said:

I phoned Santander in March to ask when the rate would drop. They said there was nothing planned. I rang again last week with the same question and was told it would drop one year after I opened it ‐ September!

Clearly Santander staff don't read MSE posts! I'll move funds to Coventry which is still 5.2% for me.

I am in the process of transferring my Coventry Cash ISA to Newcastle so that my Santander funds can move to the Coventry Triple Access, which I also have at 5.2% currently, without exceeding FSCS. Also have Coventry FHS totting up nicely.

InhaleMood

I'm just reading Martin's article about the Easy Access saver rate decreasing to 4.2%.
He seems to suggest that you can switch without penalty. 
Have I understood that right? As I thought it was a 12 month term. 
Thanks

RedImp_2

InhaleMood said:

I'm just reading Martin's article about the Easy Access saver rate decreasing to 4.2%.
He seems to suggest that you can switch without penalty. 
Have I understood that right? As I thought it was a 12 month term. 
Thanks

No it’s an easy access account so you can add or remove money as you like.
12 months was how long the account was going to last for.   If it was tied in for 12 months they wouldn’t have been reducing the rate !

InhaleMood

RedImp_2 said:

No it’s an easy access account so you can add or remove money as you like.
12 months was how long the account was going to last for.   If it was tied in for 12 months they wouldn’t have been reducing the rate !

Oh great! Sorry, just saw the option to Pay. I think I was expecting to see Withdraw!

mebu60

RedImp_2 said:

InhaleMood said:

I'm just reading Martin's article about the Easy Access saver rate decreasing to 4.2%.
He seems to suggest that you can switch without penalty. 
Have I understood that right? As I thought it was a 12 month term. 
Thanks

No it’s an easy access account so you can add or remove money as you like.
12 months was how long the account was going to last for.   If it was tied in for 12 months they wouldn’t have been reducing the rate !

'.... was going to last for.' being the operative words. It's been extended for a further 10 months with the rate dropping to 4.0% wef 01:10:24.