The Top Regular Savers Discussion Thread

flaneurs_lobster

s71hj said:

flaneurs_lobster said:

subjecttocontract said:

flaneurs_lobster said:

s71hj said:

s71hj said:

surreysaver said:

s71hj said:

flaneurs_lobster said:

liamcov said:

My Santander Edge Saver (6%) expires soon, is there still a way to get another for a year?

It's not a regular saver so wrong thread but anyways

Yes. Empty the account. Start a Live chat with Sandi the Bot with "close an account" and follow the prompts.

When the account disappears open another one. Takes a couple of days overall.

I tried this. Said I wasn't eligible. I assume because I'd already had one

Do you have an Edge Current Account?

It's Edge up. Whereas previously I had Edge which I converted to Edge Up. 

I thought Edge up was supposed to be all Edge had and more. This is me finding out in real time it isn't! 

Just scanned the product details, it does seem the Edge Up account does not give access to the Edge Saver.

Bit surprising that.

The Edge account pays no interest but gives access to the Edge saver at 6%
The Edge Up account pays 2.5% interest on up to £25K but no Edge saver.

So you just need to stuff £9.6k into the Edge Up current account to earn the same amount of interest. 

Simple. 

Except you could be earning 5% on that cash elsewhere.

For those of us who fund multiple regular saver standing orders from a current account you need to retain a certain level of balance in the current account unless hyper organised and the 2.5% interest is near top of the market. Only really Kroo is better but I suspect that is more likely to move down with the base rate than Edge up. 

I'm funding £7k's worth of RS and there's never more than a couple of hundred in any current account. 

And yes, you do need to be very organised and personally I do it all manually (apart from the First Direct outlier, where I still need to fund the CA manually). 

s71hj

flaneurs_lobster said:

s71hj said:

flaneurs_lobster said:

subjecttocontract said:

flaneurs_lobster said:

s71hj said:

s71hj said:

surreysaver said:

s71hj said:

flaneurs_lobster said:

liamcov said:

My Santander Edge Saver (6%) expires soon, is there still a way to get another for a year?

It's not a regular saver so wrong thread but anyways

Yes. Empty the account. Start a Live chat with Sandi the Bot with "close an account" and follow the prompts.

When the account disappears open another one. Takes a couple of days overall.

I tried this. Said I wasn't eligible. I assume because I'd already had one

Do you have an Edge Current Account?

It's Edge up. Whereas previously I had Edge which I converted to Edge Up. 

I thought Edge up was supposed to be all Edge had and more. This is me finding out in real time it isn't! 

Just scanned the product details, it does seem the Edge Up account does not give access to the Edge Saver.

Bit surprising that.

The Edge account pays no interest but gives access to the Edge saver at 6%
The Edge Up account pays 2.5% interest on up to £25K but no Edge saver.

So you just need to stuff £9.6k into the Edge Up current account to earn the same amount of interest. 

Simple. 

Except you could be earning 5% on that cash elsewhere.

For those of us who fund multiple regular saver standing orders from a current account you need to retain a certain level of balance in the current account unless hyper organised and the 2.5% interest is near top of the market. Only really Kroo is better but I suspect that is more likely to move down with the base rate than Edge up. 

I'm funding £7k's worth of RS and there's never more than a couple of hundred in any current account. 

And yes, you do need to be very organised and personally I do it all manually (apart from the First Direct outlier, where I still need to fund the CA manually). 

Yeh. I can't currently sustain that level of organisation. Perhaps I can set myself up a system, but it's having the time really. Hence doing it by standing order and maintaining a current account balance and the consequent need for as decent as possible an interest rate . 

subjecttocontract

flaneurs_lobster said:

subjecttocontract said:

flaneurs_lobster said:

s71hj said:

s71hj said:

surreysaver said:

s71hj said:

flaneurs_lobster said:

liamcov said:

My Santander Edge Saver (6%) expires soon, is there still a way to get another for a year?

It's not a regular saver so wrong thread but anyways

Yes. Empty the account. Start a Live chat with Sandi the Bot with "close an account" and follow the prompts.

When the account disappears open another one. Takes a couple of days overall.

I tried this. Said I wasn't eligible. I assume because I'd already had one

Do you have an Edge Current Account?

It's Edge up. Whereas previously I had Edge which I converted to Edge Up. 

I thought Edge up was supposed to be all Edge had and more. This is me finding out in real time it isn't! 

Just scanned the product details, it does seem the Edge Up account does not give access to the Edge Saver.

Bit surprising that.

The Edge account pays no interest but gives access to the Edge saver at 6%
The Edge Up account pays 2.5% interest on up to £25K but no Edge saver.

So you just need to stuff £9.6k into the Edge Up current account to earn the same amount of interest. 

Simple. 

Except you could be earning 5% on that cash elsewhere.

Surely it depends on personal circumstances ? I often have large credits paid into my current account and the account often has a 5 figure balance, albeit temporarily. So, the Edge Up account might work better for me overall, it might not. But I suspect that's what the account is designed for. If you only intend to hold a few hundred pounds in it the Edge account might be preferable.

flaneurs_lobster

subjecttocontract said:

flaneurs_lobster said:

subjecttocontract said:

flaneurs_lobster said:

s71hj said:

s71hj said:

surreysaver said:

s71hj said:

flaneurs_lobster said:

liamcov said:

My Santander Edge Saver (6%) expires soon, is there still a way to get another for a year?

It's not a regular saver so wrong thread but anyways

Yes. Empty the account. Start a Live chat with Sandi the Bot with "close an account" and follow the prompts.

When the account disappears open another one. Takes a couple of days overall.

I tried this. Said I wasn't eligible. I assume because I'd already had one

Do you have an Edge Current Account?

It's Edge up. Whereas previously I had Edge which I converted to Edge Up. 

I thought Edge up was supposed to be all Edge had and more. This is me finding out in real time it isn't! 

Just scanned the product details, it does seem the Edge Up account does not give access to the Edge Saver.

Bit surprising that.

The Edge account pays no interest but gives access to the Edge saver at 6%
The Edge Up account pays 2.5% interest on up to £25K but no Edge saver.

So you just need to stuff £9.6k into the Edge Up current account to earn the same amount of interest. 

Simple. 

Except you could be earning 5% on that cash elsewhere.

Surely it depends on personal circumstances ? I often have large credits paid into my current account and the account often has a 5 figure balance, albeit temporarily. So, the Edge Up account might work better for me overall, it might not. But I suspect that's what the account is designed for. If you only intend to hold a few hundred pounds in it the Edge account might be preferable.

Of course, really just directed at @s71hj who was surprised at not having the Edge Saver available. 

My incomes are pretty much fixed so I can plan just where each deposit will go to maximise interest.

s71hj

flaneurs_lobster said:

subjecttocontract said:

flaneurs_lobster said:

subjecttocontract said:

flaneurs_lobster said:

s71hj said:

s71hj said:

surreysaver said:

s71hj said:

flaneurs_lobster said:

liamcov said:

My Santander Edge Saver (6%) expires soon, is there still a way to get another for a year?

It's not a regular saver so wrong thread but anyways

Yes. Empty the account. Start a Live chat with Sandi the Bot with "close an account" and follow the prompts.

When the account disappears open another one. Takes a couple of days overall.

I tried this. Said I wasn't eligible. I assume because I'd already had one

Do you have an Edge Current Account?

It's Edge up. Whereas previously I had Edge which I converted to Edge Up. 

I thought Edge up was supposed to be all Edge had and more. This is me finding out in real time it isn't! 

Just scanned the product details, it does seem the Edge Up account does not give access to the Edge Saver.

Bit surprising that.

The Edge account pays no interest but gives access to the Edge saver at 6%
The Edge Up account pays 2.5% interest on up to £25K but no Edge saver.

So you just need to stuff £9.6k into the Edge Up current account to earn the same amount of interest. 

Simple. 

Except you could be earning 5% on that cash elsewhere.

Surely it depends on personal circumstances ? I often have large credits paid into my current account and the account often has a 5 figure balance, albeit temporarily. So, the Edge Up account might work better for me overall, it might not. But I suspect that's what the account is designed for. If you only intend to hold a few hundred pounds in it the Edge account might be preferable.

Of course, really just directed at @s71hj who was surprised at not having the Edge Saver available. 

My incomes are pretty much fixed so I can plan just where each deposit will go to maximise interest.

You yourself described it as a "bit surprising". To be clear I wasn't suggesting I thought it was any kind of injustice. I had just assumed, wrongly that Edge up gave as much and more in return for paying in more per month

Slinky

Can you open an Edge account if you aleady have Edge Up? I've got solo and joint Edge accounts with no money in either of them and an Edge Saver for each of them. If you don't set up the direct debits on the Edge account, then you won't get any charges for it.

One of mine is due to downgrade interest rate at the end of the month, I'm thinking I may close it before the end of the month and open another, just in case they pull the 6% rate.

flaneurs_lobster

s71hj said:

You yourself described it as a "bit surprising". To be clear I wasn't suggesting I thought it was any kind of injustice. I had just assumed, wrongly that Edge up gave as much and more in return for paying in more per month

No inference made, I'm genuinely surprised that the Saver isn't available.

Thought about opening Cahoot's 5% on £3k account? (or 2). 

s71hj

flaneurs_lobster said:

s71hj said:

You yourself described it as a "bit surprising". To be clear I wasn't suggesting I thought it was any kind of injustice. I had just assumed, wrongly that Edge up gave as much and more in return for paying in more per month

No inference made, I'm genuinely surprised that the Saver isn't available.

Thought about opening Cahoot's 5% on £3k account? (or 2). 

No worries. Yes re Cahoot, but it's the capacity for setting up standing orders that I like (and need given my lack of faith in my ability to do monthly manual payments) , hence the need for a current account. 

flaneurs_lobster

Slinky said:

Can you open an Edge account if you aleady have Edge Up? I've got solo and joint Edge accounts with no money in either of them and an Edge Saver for each of them. If you don't set up the direct debits on the Edge account, then you won't get any charges for it.

One of mine is due to downgrade interest rate at the end of the month, I'm thinking I may close it before the end of the month and open another, just in case they pull the 6% rate.

Think that works, I've got two Edge current accounts (+ their Edge Savers) and there doesn't seem to be any prohibition on holding one of each (Edge & Edge Up) flavour.

As you say, just don't set up DDs to avoid the £3 charge.

Bridlington1

Furness BS Interest Rate Cuts 1/9/25:

1 Year Regular Saver ~~~ Reduction from 4.25% to 4%
Christmas Regular Saver (Issue 2) ~~~ NO CHANGE ~~~ Remains at 5.25%