The New Top Easy Access Savings Discussion Area

fuzzzzy

friolento said:

chris_the_bee said:

wiseonesomeofthetime said:

Saw this mentioned on another thread, and have now received an email confirming the changes.

SANTANDER EDGE SAVER ELIGIBILITY CRITERIA 

We’ve made changes to the eligibility of your Santander Edge saver

 

With the launch of our new Santander Edge Explorer current account, we’ve changed the eligibility criteria of our Santander Edge saver. This means that Santander Edge Explorer current account holders can open a Santander Edge saver.

 

This also means that if you choose to upgrade to a Santander Edge Explorer current account, you can keep your Santander Edge saver.

 

We need to tell you about the changes to eligibility for the Santander Edge saver, because if you don’t meet them we might switch your Santander Edge saver to an Everyday Saver.

 

Now, to have a Santander Edge saver you must:

 

• have a Santander Edge® or a Santander Edge® Explorer current account.

 

• be 18 or over and live in the UK.

 

• have a maximum of 3 Santander Edge saver accounts – one for each Santander Edge current account or Edge Explorer current account you have.

 

• As this is an online account, you’ll need to have Online and Mobile Banking. So, we recommend signing up, if you haven’t already.

 

The Santander Edge saver includes monthly interest paid on balance up to £4,000.

 

What happens next?

 

You don’t need to do anything if you want to carry on using your account. This change will happen in the background. It won’t affect how you use your account.

 

If you’re not happy with this change, you can close your account with no charge.

SANTANDER EDGE SAVER ELIGIBILITY CRITERIA 
A very poorly written and confusing email.

It is very clear IMO. What might be confusing is that they have the Edge and the Edge Explorer. 

Not clear at all IMO.

castle96

Santander - confirmed with them. OneEdge Saver (6% for a yr) for each current account (1 single and 2 for joint). Only downside is the £3 mthly fee for each current account, but if you have some SOs in there it compensates

Catplan

castle96 said:

Santander - confirmed with them. OneEdge Saver (6% for a yr) for each current account (1 single and 2 for joint). Only downside is the £3 mthly fee for each current account, but if you have some SOs in there it compensates

It is well documented that you can avoid the fee, by not setting up DD’s. It’s now possible to have three, the two you suggest plus an Edge Explorer account allows one as well.

pecunianonolet

My Edge saver matured a while back. Was waiting it out to open a new one to prolong he term as I can't put the 4k in just now as interest would be taxed and due to other likely upcoming changes of tax residency. Just applied via app for a new Edge saver and it went through straight away. Not received any email yet. 

Bobblehat

Whether clear or not, it's clearly (cleverly?) aimed at fooling some people into thinking they may have to upgrade to keep their Edge Saver(s). Or am I just being cynical?

flaneurs_lobster

jim1999 said:

Yeah, previously the limit was 2 as far as I know, so the change is in allowing three.

But since to get the third account you would need a paid Explorer account it wouldn't be worth it for savings alone.

...until someone deduces a workaround that allows the paid-for Explorer to be not-paid-for, like the (not-)paid-for Edge account?

flaneurs_lobster

castle96 said:

Santander - confirmed with them. OneEdge Saver (6% for a yr) for each current account (1 single and 2 for joint). Only downside is the £3 mthly fee for each current account, but if you have some SOs in there it compensates

See posts passim for how to avoid the £3 fee, and you can have 2 sole Edge current accounts.

surreysaver

exel1966 said:

Catplan said:

castle96 said:

Santander - confirmed with them. OneEdge Saver (6% for a yr) for each current account (1 single and 2 for joint). Only downside is the £3 mthly fee for each current account, but if you have some SOs in there it compensates

It is well documented that you can avoid the fee, by not setting up DD’s. It’s now possible to have three, the two you suggest plus an Edge Explorer account allows one as well.

Anything to do with RS? Perhaps you posted this in the wrong thread.

The Edge Saver is like a regular saver, only it allows you to put all your money in in one go at the beginning 

castle96

passim ?? pl explain

clairec666

surreysaver said:

exel1966 said:

Catplan said:

castle96 said:

Santander - confirmed with them. OneEdge Saver (6% for a yr) for each current account (1 single and 2 for joint). Only downside is the £3 mthly fee for each current account, but if you have some SOs in there it compensates

It is well documented that you can avoid the fee, by not setting up DD’s. It’s now possible to have three, the two you suggest plus an Edge Explorer account allows one as well.

Anything to do with RS? Perhaps you posted this in the wrong thread.

The Edge Saver is like a regular saver, only it allows you to put all your money in in one go at the beginning 

Similarities: high interest rate, matures (well, rate drops) after a year
Differences: initial lump sum deposit rather than smaller monthly payments

I guess it doesn't officially belong in the regular saver thread, but no harm in discussing it here.