Check Santander Edge Saver 12 month bonus has come to an end

Itskarma

I requested to close my Edge Saver by phone on Friday 22 Nov. How do I know when it’s finally closed? It’s still showing on my app with a zero balance. Interest was paid on the day I closed it so I’m not expecting any more. Will it disappear from the app once the process is complete?
Thanks

peter021072

Has anyone tried closing Santander Edge Saver issue 1 via Sandi then opening a new issue 2 Edge saver recently, say in the last month?  The risk is that they will refuse to open an account at the lower rate!   I suppose there are better rates elsewhere, just more inconvenient.

Stargunner

peter021072 said:

Has anyone tried closing Santander Edge Saver issue 1 via Sandi then opening a new issue 2 Edge saver recently, say in the last month?  The risk is that they will refuse to open an account at the lower rate!   I suppose there are better rates elsewhere, just more inconvenient.

Issue 2 edge saver is a current product, so there is no risk that your application would be refused?

ThePirates

For info:

I have two Edge Current Accounts and two paired Edge Savers, one at 7% and the other at 6%.

The 7% recently 'matured', I withdrew the funds and asked Sandi to close it, she said it works take 5 working days. 

It's only 2 working days later, it's still in my list of accounts but I tried to apply for a new 6% one, the system wouldn't let me. 

I'll try again when it disappears after the 5 working days.

tightbloke61

Its always quicker to ring Santander, accounts close after a day

steven141

I closed and re-opened mine recently took a couple of days before it disappeared. I used Sandi.

stevec59

I’ve just closed my Edge saver because the interest had dropped, I now have an email offering me another one, can I get this? 6% on £4k is good, we have the Edge current account and at the moment it costs us money as we don’t get much cash back, but the edge saver would make it worth keeping. Shame you can’t have the Edge saver on the standard no fee Current account

Jami74

https://forums.moneysavingexpert.com/discussion/comment/82001013#Comment_82001013

You can have the Edge current account without it costing you money, just don't set up any direct debits on it. I don't use my Edge current account other than transferring the Edge saver interest into it. And yes, if you have an Edge current account you are eligible for the Edge 6% saver. When the interest rate drops close it and open another.

stevec59

Great, thanks. I didn’t realise that about the fee, I thought that you had to have DD’s to have the Edge Current account?. When I had my last one I had a reminder in my Callander to transfer the interest into another account. Are there any other accounts that pay 6%?

From the Santander page

How it works 

• Pay a £3 monthly fee to maintain the account
• Pay at least £500 into your account each month
• Have 2 active Direct Debits
• You’re over 18 and live in the UK permanently

Jami74

https://forums.moneysavingexpert.com/discussion/comment/82001216#Comment_82001216

Read the Key Facts document. It explains that they start charging the fee when you become eligible for cashback. Then it explains to be eligible for cashback you need two direct debits and to pay in £500 each month. If you are not eligible for the cashback, you don't get charged the fee. Read the document.