Santander Edge account without fees?

ColdIron

Northynorthy said:

My OH currently has a 123 account that we would like to make our joint account as this currently has all our DD outgoings etc going out of it, so she would like another current account as hers.

The Edge account was suggested and I looked at the terms, but obviously not close enough.

It looks like she'll be able to set it up and use it as her current account and not pay fees as long as she is careful with any DDs.

That makes more sense. Can she convert a sole 123 to joint? It's no longer generally available

jimjames

Northynorthy said:

It would be a current account though, so wages would be paid into it.

Thanks,

G

Open a different Santander account for wages/bills?

Northynorthy

ColdIron said:

That makes more sense. Can she convert a sole 123 to joint? It's no longer generally available

We've been told we can in the past, and keep all the benefits.

So therefore she needs a new current account and we were told the Edge account is good, but she doesn't want to pay a fee.

G

jameseonline

As people have already said keep your existing account, open an Edge Current Account, don't have direct debits &/or pay £500 in & you won't pay a fee, however the cashback part may be of benefit to you in which case you would need to have the direct debits & pay the £500 in every month.

As you've already stated you have 123 and that cashback is calculated differently to Edge cashback so you would need to workout what would pay better.

123 accounts aren't available to new customers anymore so you need to be careful about changing it.

Regardless of what you decide, if you do get an Edge current account you'll be eligible to get Edge Saver account which currently pays 6% (was 7%) a year, then it converts to a poopy savings account, then you can close an open a new Edge Saver.

TheBanker

Northynorthy said:

ColdIron said:

That makes more sense. Can she convert a sole 123 to joint? It's no longer generally available

We've been told we can in the past, and keep all the benefits.

So therefore she needs a new current account and we were told the Edge account is good, but she doesn't want to pay a fee.

G

If she doesn't want the savings account, then she might as well open a standard current account (Santander call it an Everyday Account) which doesn't come with the linked 6.5% saver, but also doesn't carry a monthly fee. 

If she does want the savings account, then other posters have advised how to avoid the fee by not setting up any Direct Debits.