Santander Edge Saver Renewal

friolento

Rawrzy said:

Middle_of_the_Road said:

FLAMPARD said:

I have a Santander edge account and edge saver

if I change the edge current account to an everyday will I lose the edge saver

thanks

They do say that they might change the account to an Everyday saver if you don't abide by the conditions. Not heard of anyone trying it out, or if they do as they state.

They do, they give you two months notice before doing it though.

Have they downgraded yours?

Rawrzy

friolento said:

Rawrzy said:

Middle_of_the_Road said:

FLAMPARD said:

I have a Santander edge account and edge saver

if I change the edge current account to an everyday will I lose the edge saver

thanks

They do say that they might change the account to an Everyday saver if you don't abide by the conditions. Not heard of anyone trying it out, or if they do as they state.

They do, they give you two months notice before doing it though.

Have they downgraded yours?

I'll let you know in a few days when it hits the day they said.

Rawrzy

friolento said:

Rawrzy said:

Middle_of_the_Road said:

FLAMPARD said:

I have a Santander edge account and edge saver

if I change the edge current account to an everyday will I lose the edge saver

thanks

They do say that they might change the account to an Everyday saver if you don't abide by the conditions. Not heard of anyone trying it out, or if they do as they state.

They do, they give you two months notice before doing it though.

Have they downgraded yours?

I can confirm it changed to an Everyday Saver with an interest rate of 1.2% on the day they said it would.

friolento

Rawrzy said: see

friolento said:

Rawrzy said:

Middle_of_the_Road said:

FLAMPARD said:

I have a Santander edge account and edge saver

if I change the edge current account to an everyday will I lose the edge saver

thanks

They do say that they might change the account to an Everyday saver if you don't abide by the conditions. Not heard of anyone trying it out, or if they do as they state.

They do, they give you two months notice before doing it though.

Have they downgraded yours?

I can confirm it changed to an Everyday Saver with an interest rate of 1.2% on the day they said it would.

WOW, that’s unfortunate for you. I wonder what made them pick you up on it, as nobody else has yet reported being unlucky.

Thanks for reporting back

Rawrzy

friolento said:

Rawrzy said: see

friolento said:

Rawrzy said:

Middle_of_the_Road said:

FLAMPARD said:

I have a Santander edge account and edge saver

if I change the edge current account to an everyday will I lose the edge saver

thanks

They do say that they might change the account to an Everyday saver if you don't abide by the conditions. Not heard of anyone trying it out, or if they do as they state.

They do, they give you two months notice before doing it though.

Have they downgraded yours?

I can confirm it changed to an Everyday Saver with an interest rate of 1.2% on the day they said it would.

WOW, that’s unfortunate for you. I wonder what made them pick you up on it, as nobody else has yet reported being unlucky.

Thanks for reporting back

Guess they're hoping people fall into paying the fee for the edge account so they're clamping down.

Unfortunately for them I won't be adding any direct debits so I'll still be getting the saver without paying the fee now I've got a edge account again lol.

masonic

friolento said:

Rawrzy said: see

friolento said:

Rawrzy said:

Middle_of_the_Road said:

FLAMPARD said:

I have a Santander edge account and edge saver

if I change the edge current account to an everyday will I lose the edge saver

thanks

They do say that they might change the account to an Everyday saver if you don't abide by the conditions. Not heard of anyone trying it out, or if they do as they state.

They do, they give you two months notice before doing it though.

Have they downgraded yours?

I can confirm it changed to an Everyday Saver with an interest rate of 1.2% on the day they said it would.

WOW, that’s unfortunate for you. I wonder what made them pick you up on it, as nobody else has yet reported being unlucky.

Thanks for reporting back

I'd think very few other people have tried to cling on to an Edge Saver after downgrading the Edge Current Account to an Everyday Account. Most in these parts who don't want to pay the current account fee are using the well known loophole and retaining the Edge Current Account.

allegro120

Rawrzy said:

friolento said:

Rawrzy said: see

friolento said:

Rawrzy said:

Middle_of_the_Road said:

FLAMPARD said:

I have a Santander edge account and edge saver

if I change the edge current account to an everyday will I lose the edge saver

thanks

They do say that they might change the account to an Everyday saver if you don't abide by the conditions. Not heard of anyone trying it out, or if they do as they state.

They do, they give you two months notice before doing it though.

Have they downgraded yours?

I can confirm it changed to an Everyday Saver with an interest rate of 1.2% on the day they said it would.

WOW, that’s unfortunate for you. I wonder what made them pick you up on it, as nobody else has yet reported being unlucky.

Thanks for reporting back

Guess they're hoping people fall into paying the fee for the edge account so they're clamping down.

Unfortunately for them I won't be adding any direct debits so I'll still be getting the saver without paying the fee now I've got a edge account again lol.

I'm not sure if Santander are making any significant profit on these fees, if not a loss.  I don't pay the fee because my bills are very low and the cash back is not going to cover the fee, but many customers with larger bills can benefit from cash back on bills and shopping.  Usually the goal for schemes like this is to gain and retain customers, not to make profit on fees.

jules888

Interesting reading.I have a 123 Lite account.Been put off opening an Edge account as  12 month rate on saver goes down after this period but may try opening one now.

where_are_we

jules888 said:

Interesting reading.I have a 123 Lite account.Been put off opening an Edge account as  12 month rate on saver goes down after this period but may try opening one now.

Keep the 123 Lite - it is no longer available. It is a better CA than the Edge CA for cashback and fees, which is why it is no longer available.

Not sure why you are reluctant to open an Edge CA alongside the 123 Lite. Once you have the Edge CA you can open the associated Edge Saver with 7% variable on up to £4000 which includes 2.5% bonus for 12 months. Remember not to have 2 direct debits and pay in £500 a month on the Edge CA to enable avoidance of £3 monthly fee.

For those that have had the Edge Saver for almost 12 months you can close it, withdraw balance plus interest, and in one or two days open a new Edge Saver and fund it, which means you renew the 2.5% bonus for another 12 months.

Pkman

How to 'close it'? I'm on the app and can't see the option?