Santander £185 Switch Offer: 18/03/24

Rawrzy

danny13579 said:

Rawrzy said:

What's the best way to stop having to pay the fee while retaining the edge saver? Can you just drop it to a free account and back up or?

If you want the Edge Saver you need the Edge Current. You can avoid the £3 monthly fee by not satisfying the conditions for receiving cashback, either don't set up 2 direct debits on the account or don't pay in £500 per month when you open the  Edge current account.

However, if you want the switch bonus you need to pay in £1,500 and create 2 direct debits, so that will trigger the £3 monthly fee and once it starts you can't stop it being charged monthly other than by closing the Edge current account (and you'd lose the Edge saver account).

Yes I'm aware of all that, I've already got the bonus now hence why I'm asking. I'm just wondering what's the best way to go about stopping the fee but getting back access to the saver. Is it just dropping the account to free and swapping it back to the edge after direct debits are removed.

I hadn't thought about any weird ways like being discussed on the last page about how to avoid it in the first place, so I'm being charged the fee but don't have enough eligible bills to make the cashback worth it sadly.

Bridlington1

Rawrzy said:

danny13579 said:

Rawrzy said:

What's the best way to stop having to pay the fee while retaining the edge saver? Can you just drop it to a free account and back up or?

If you want the Edge Saver you need the Edge Current. You can avoid the £3 monthly fee by not satisfying the conditions for receiving cashback, either don't set up 2 direct debits on the account or don't pay in £500 per month when you open the  Edge current account.

However, if you want the switch bonus you need to pay in £1,500 and create 2 direct debits, so that will trigger the £3 monthly fee and once it starts you can't stop it being charged monthly other than by closing the Edge current account (and you'd lose the Edge saver account).

Yes I'm aware of all that, I've already got the bonus now hence why I'm asking. I'm just wondering what's the best way to go about stopping the fee but getting back access to the saver. Is it just dropping the account to free and swapping it back to the edge after direct debits are removed.

I hadn't thought about any weird ways like being discussed on the last page about how to avoid it in the first place, so I'm being charged the fee but don't have enough eligible bills to make the cashback worth it sadly.

I may be misremembering but I seem to recall others have reported being able to downgrade/switch out the edge account without having to close the edge saver (at least not straight away?).

One option could be to just downgrade the edge current account into an everyday account and keep the DDs on it ready to switch this account out later when you see another switching offer. You could then open a spare everyday account (top cashback currently offer £25 for doing this) and then convert this into an edge current account in time without any DDs so you don't pay the fees.

danny13579

Bridlington1 said:

I may be misremembering but I seem to recall others have reported being able to downgrade/switch out the edge account without having to close the edge saver (at least not straight away?).

One option could be to just downgrade the edge current account into an everyday account and keep the DDs on it ready to switch this account out later when you see another switching offer. You could then open a spare everyday account (top cashback currently offer £25 for doing this) and then convert this into an edge current account in time without any DDs so you don't pay the fees.

How do you downgrade the Edge account? I couldn't see an option to do this in online banking or in the (old) app.
Would you have to contact Santander to do it?

Rawrzy

danny13579 said:

Bridlington1 said:

I may be misremembering but I seem to recall others have reported being able to downgrade/switch out the edge account without having to close the edge saver (at least not straight away?).

One option could be to just downgrade the edge current account into an everyday account and keep the DDs on it ready to switch this account out later when you see another switching offer. You could then open a spare everyday account (top cashback currently offer £25 for doing this) and then convert this into an edge current account in time without any DDs so you don't pay the fees.

How do you downgrade the Edge account? I couldn't see an option to do this in online banking or in the (old) app.
Would you have to contact Santander to do it?

In the website it says you can do it through the online account management, but I've not tried it.
https://www.santander.co.uk/personal/current-accounts/everyday-current-account/transfer-everyday-current-account

FIREmenow

Wonder if anyone (by coincidence or by design) has managed to get the cashback without paying the monthly fee? 

I changed my DDs over and paid in £4k in the first month (due to funding the Edge Saver) so not of any help!

danny13579

Rawrzy said:

In the website it says you can do it through the online account management, but I've not tried it.
https://www.santander.co.uk/personal/current-accounts/everyday-current-account/transfer-everyday-current-account

Thanks. Here's what you need to do:

1: Log into your online banking.

2: Click on "Current accounts".



3: Choose "Change my existing account".



4: Choose the account you want to convert to (e.g. Everyday Current Account) and then click "Change my existing account" in the online option below.



5: Choose the account you want to convert (e.g. Edge Current Account) and follow the instructions.

danny13579

FIREmenow said:

Wonder if anyone (by coincidence or by design) has managed to get the cashback without paying the monthly fee? 

I don't think this is possible as to get the cashback you have to meet the conditions for earning cashback (deposit £500+ per month and have 2 active direct debits). The first time you do this it triggers the £3 fee and it's then charged on the monthly anniversary of you opening your Edge account.

Rawrzy

danny13579 said:

Rawrzy said:

In the website it says you can do it through the online account management, but I've not tried it.
https://www.santander.co.uk/personal/current-accounts/everyday-current-account/transfer-everyday-current-account

Thanks. Here's what you need to do:

1: Log into your online banking.

2: Click on "Current accounts".



3: Choose "Change my existing account".



4: Choose the account you want to convert to (e.g. Everyday Current Account) and then click "Change my existing account" in the online option below.



5: Choose the account you want to convert (e.g. Edge Current Account) and follow the instructions.

Yeah I found it earlier after I posted, you can also go through the "upgrade current account" button too.It's pretty quick, updates immediately.

superdayold

I applied on 20th March, switch completed 28th. 

Only fulfilled all requirements last week. 

Could today be the day? 

Oh, and do they send a notification - text / email, or does it just appear?

locky123

superdayold said:

Oh, and do they send a notification - text / email, or does it just appear?

Received no communication, just appeared.