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

stevec59

Great, thanks.

 for maintaining

the account

The fee for this account is £3 per month.

We’ll start charging this fee after you meet the conditions for earning cashback for the first time.

Then, we’ll take it from your account each month on the anniversary of the date you opened

it. We’ll do this every month until your account is closed. This includes any months where you

don’t earn cashback.

Cashback What is cashback?

Cashback is a monthly reward we pay into your account if you meet the conditions for earning

cashback. It’s based on Direct Debit payments you make to pay bills for your home.

So, move my DD’s to Zopa Biscuit using Martin’s link and get £80 cash back in the first year, unfortunately only £30 after the first year, but not bad. Set up a Standing Order from Santander to Zopa Biscuit to cover the DD’s.

Last year, I had 1 Edge Saver, my wife had 1 edge saver. As the edge current account is a joint account, I assume that we can get a joint edge saver, giving us the max of 3?

where_are_we

No - there isn`t a joint Edge saver so, in your present position you are limited to your 2 single Edge savers.

However, if you have sufficient funds for more Edge savers ie > £8K, you can open 2 new single Edge current accounts and subsequently you can apply for 1 new single Edge saver each. This will give you 4 Edge savers in total into which you can have up to £16K @ 6%. Remember to not set up 2 Direct debits on your 2 new single Edge current accounts and keep a very small balance in each. This way you avoid the £3 fee.

Apologies, looks like Santander have closed the above procedure to get 4 Edge savers - thanks to Masonic for pointing that out. Fortunately it seems as though those of us with 4 Edge savers already are safe for now.

stevec59

Thanks, I thought there was a max of 3 Edge savers?

masonic

https://forums.moneysavingexpert.com/discussion/comment/82001750#Comment_82001750

You cannot open a second sole Edge current account any more. Discussed here:

https://forums.moneysavingexpert.com/discussion/comment/81992706#Comment_81992706

clairec666

https://forums.moneysavingexpert.com/discussion/comment/82001081#Comment_82001081

Presumably Santander only want people to get perks (i.e. cashback) from the account if they are actually using the account and paying the fee. But for whatever reason still let anyone get the perks of the Edge Saver even if they're not paying the fee. They may close this loophole at some point, but it's good while it lasts.

If you open an Edge account for a switch bonus, this usually requires DDs to be set up and a certain amount to be paid in, meaning you become eligible for a fee. I vaguely remember there's a way of avoiding the fee even when switching, but I can't remember the details.

stevec59

The email that I have inviting me to a new Edge Saver, now opened with £4k in it, says

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

Maybe I’ll give 5hem a call tomorrow and ask them how to get 3 edge saver account

masonic

https://forums.moneysavingexpert.com/discussion/comment/82002250#Comment_82002250

You can have a sole Edge and Edge Explorer. Perhaps it is a joint Edge that makes the third.

Stargunner

https://forums.moneysavingexpert.com/discussion/comment/82002250#Comment_82002250

No need to call them.

You can have 1 edge saver for each of the following current accounts.

Sole Edge account

Joint Edge account (both joint holders can have a edge saver)

Edge Explorer account

My wife and I have all the above, which allows us to have 5 edge savers.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82001750#Comment_82001750

I don’t believe it is possible any longer to open more than one sole Edge current account. They closed this little loophole months ago. If you got in before then, you were lucky, and they let you keep your two.

stevec59

I’ll find out, I’ve just opened a new one, the one that my wife has, has completed its 12 months and dropped, so I’ll get her to close that and open a new one.