Santander Edge £36 for new customers

Bridlington1

Good morning,

Santander have launched an offer where new customers (those who do not hold a Santander current account on 8 September 2024) who open a Santander Edge current account between 9 September and 7 October 2024 and pay in £500+ will receive £36, so long as the account is still open on the day they make the payment.

It's worth noting that you can get an additional £20 if you apply via topcashback.

https://www.santander.co.uk/assets/s3fs-public/AD_documents/Santander Edge current account offer TandCs BANKMC0682 SEP 24 IPG CD T.pdf

For future reference Ts&Cs have been archived to the wayback machine:
https://web.archive.org/web/20240912071805/https://www.santander.co.uk/assets/s3fs-public/AD_documents/Santander Edge current account offer TandCs BANKMC0682 SEP 24 IPG CD T.pdf

Mark_d

Not bad.  But it would take more than an introductory offer to tempt me away from Kroo

Bridlington1

Mark_d said:

Not bad.  But it would take more than an introductory offer to tempt me away from Kroo

You wouldn't have to move away from Kroo though. You could just open the Edge account via topcashback and bounce £500 in and out the account solely to get the £56 and keep Kroo as it is.

where_are_we

Plus new Santander customers who open an Edge Current account qualify for an Edge Saver account @ 6% variable on up to £4000. It is easy access and bonus interest rate lasts a year.

Nasqueron

I'd like to think you can wangle this to avoid the fee starting by simply not adding 2 DD but the term:

"meet the general terms and conditions of the Edge account and pay in at least £500." 

Somewhat suggests you'd need to have a couple of DD 

So in theory I could apply via TCB, get the £20+£36 by paying in £500, not setting up the DD and have no fee to pay but more likely worst case, pay the £3 fee, get the bonus and make £53 profit and then downgrade it?

Bridlington1

Nasqueron said:

I'd like to think you can wangle this to avoid the fee starting by simply not adding 2 DD but the term:

"meet the general terms and conditions of the Edge account and pay in at least £500." 

Somewhat suggests you'd need to have a couple of DD 

So in theory I could apply via TCB, get the £20+£36 by paying in £500, not setting up the DD and have no fee to pay but more likely worst case, pay the £3 fee, get the bonus and make £53 profit and then downgrade it?

Though you could also argue that those who aren't paying the fee are still ``meeting the general terms and conditions of the Edge account", they're just not qualifying for the Santander Edge cashback, which is still permitted under the general Ts&Cs for the Edge account.

Nasqueron

It's an interesting one, I only have 1 DD that would qualify for cashback (mobile bill) which only gets 26p or something on the cashback as all the other bills are paid by my partner, I don't spend that much on fuel etc so there is limited benefit to me, but I guess I could just downgrade after, the saver potentially has some use at best

35har1old

Nasqueron said:

It's an interesting one, I only have 1 DD that would qualify for cashback (mobile bill) which only gets 26p or something on the cashback as all the other bills are paid by my partner, I don't spend that much on fuel etc so there is limited benefit to me, but I guess I could just downgrade after, the saver potentially has some use at best

The fee isn't charged unless you meet all the terms but you still qualify to open the Edge Saver account.
Downgrading the account gives you 2 months of the Edge Saver before it's downgraded 
Can't say if you would receive the bonus if you don't setup the DD 

Hattie627

This is similar to the offer earlier this year for those taking out the new Santander Edge credit card. You got £36 for just opening it. Plus 2% cashback (up to £15 per month) for all spending on the card for a year. Against a £3 a month fee.

I took up the credit card in May. Although the offer terms said i would get paid the £36 (by credit to the account) in August, it was actually paid in early June. Very prompt payment, suggests that this new offer might pay out quickly.

danny13579

Nasqueron said:

I'd like to think you can wangle this to avoid the fee starting by simply not adding 2 DD but the term:

"meet the general terms and conditions of the Edge account and pay in at least £500." 

Somewhat suggests you'd need to have a couple of DD 

So in theory I could apply via TCB, get the £20+£36 by paying in £500, not setting up the DD and have no fee to pay but more likely worst case, pay the £3 fee, get the bonus and make £53 profit and then downgrade it?

There's nothing in the general terms requiring you to set up 2 direct debits to avail of this account and offer. To avail of the cashback part of the account you need to set up the 2 direct debits as well as pay in £500 per month and pay the £3 monthly fee.

This offer was previously run from 22nd January until 29th February this year.

Marcoos

If anyone is going for this. TCB has an extra £2 bonus today.