Santander edge 3£ maintenance fee

flaneurs_lobster

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Got a nasty feeling that if you stop the £500 (why, it only needs to be there for a moment) then they will stop cashback being earned on the DDs but still charge the fee.

Any chance you can make the cashback be more than the £3 fee (add council tax, utilities, internet+TV, mobile bills)?

Otherwise open another Edge CA with no DDs and no payments in, open an Edge Saver and transfer.

PRAISETHESUN

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Once you qualify to be charged the monthly fee then Santander will continue to charge it, even if you stop meeting the cash back criteria in future. The only way that I'm aware of to stop the fee being charged is to downgrade to an Everyday account, or failing that, to close the account.

You could open a new Edge account and set it up to avoid being charged the monthly fee. If you never qualify for cashback (ie. never pay in £500+ and have 2x DDs pay out in a single month), then the monthly fee is never charged. Importantly, you still qualify for the Edge saver.

seriously

flaneurs_lobster said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Got a nasty feeling that if you stop the £500 (why, it only needs to be there for a moment) then they will stop cashback being earned on the DDs but still charge the fee.

Any chance you can make the cashback be more than the £3 fee (add council tax, utilities, internet+TV, mobile bills)?

Otherwise open another Edge CA with no DDs and no payments in, open an Edge Saver and transfer.

I have already have two Edge CAs and two Savers, one joint with my wife and one personal. All of our bills are in the joint account and we don't pay enough (fortunately) to cover back the fee, which is fine as the Saver is more than worth it for the interest anyways!

PRAISETHESUN said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Once you qualify to be charged the monthly fee then Santander will continue to charge it, even if you stop meeting the cash back criteria in future. The only way that I'm aware of to stop the fee being charged is to downgrade to an Everyday account, or failing that, to close the account.

You could open a new Edge account and set it up to avoid being charged the monthly fee. If you never qualify for cashback (ie. never pay in £500+ and have 2x DDs pay out in a single month), then the monthly fee is never charged. Importantly, you still qualify for the Edge saver.

Thanks, I think I will wait until the Saver matures in April and then I downgrade the Edge CA and do as you say. Thank you very much! 

friolento

seriously said:

flaneurs_lobster said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Got a nasty feeling that if you stop the £500 (why, it only needs to be there for a moment) then they will stop cashback being earned on the DDs but still charge the fee.

Any chance you can make the cashback be more than the £3 fee (add council tax, utilities, internet+TV, mobile bills)?

Otherwise open another Edge CA with no DDs and no payments in, open an Edge Saver and transfer.

I have already have two Edge CAs and two Savers, one joint with my wife and one personal. All of our bills are in the joint account and we don't pay enough (fortunately) to cover back the fee, which is fine as the Saver is more than worth it for the interest anyways!

PRAISETHESUN said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Once you qualify to be charged the monthly fee then Santander will continue to charge it, even if you stop meeting the cash back criteria in future. The only way that I'm aware of to stop the fee being charged is to downgrade to an Everyday account, or failing that, to close the account.

You could open a new Edge account and set it up to avoid being charged the monthly fee. If you never qualify for cashback (ie. never pay in £500+ and have 2x DDs pay out in a single month), then the monthly fee is never charged. Importantly, you still qualify for the Edge saver.

Thanks, I think I will wait until the Saver matures in April and then I downgrade the Edge CA and do as you say. Thank you very much! 

You don’t need to wait. You can request closure of the Edge Saver straight away - just ask in the chat. It takes a few days for them to action the closure. Once it’s gone, and once you have your new Edge current account, you can open a new Edge Saver again.

 

Newly_retired

harz99 said:

Newly_retired said:

I have had another email threatening to close my Edge account, even though I put £1 in. Maybe it needs to be £1 per month?

Do you have any other current accounts with Santander that are actually used, or not? 

Yes, my main current account is 123 and I have various other accounts with Santander. I worked out that I get the best deal from the 123 rather than the Edge. I want to keep theEdgesaver, but not pay a fee for the Edge c/a.
i cannot find any T&C that specify any minimum usage to keep it open for free. Maybe just a few £1 movements in and out? 

friolento

Newly_retired said:

i cannot find any T&C that specify any minimum usage to keep it open for free. Maybe just a few £1 movements in and out? 

I keep £1 permanently in mine, and once in a while cycle a few hundred between my 4 Santander current accounts, only one of which is regularly used. This seems to keep Santander happy.

friolento

In case you don't know, there is a £25 cashback offer for the Edge Saver.

Worth trying this when you apply for your new one.

Nasqueron

seriously said:

flaneurs_lobster said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Got a nasty feeling that if you stop the £500 (why, it only needs to be there for a moment) then they will stop cashback being earned on the DDs but still charge the fee.

Any chance you can make the cashback be more than the £3 fee (add council tax, utilities, internet+TV, mobile bills)?

Otherwise open another Edge CA with no DDs and no payments in, open an Edge Saver and transfer.

I have already have two Edge CAs and two Savers, one joint with my wife and one personal. All of our bills are in the joint account and we don't pay enough (fortunately) to cover back the fee, which is fine as the Saver is more than worth it for the interest anyways!

PRAISETHESUN said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Once you qualify to be charged the monthly fee then Santander will continue to charge it, even if you stop meeting the cash back criteria in future. The only way that I'm aware of to stop the fee being charged is to downgrade to an Everyday account, or failing that, to close the account.

You could open a new Edge account and set it up to avoid being charged the monthly fee. If you never qualify for cashback (ie. never pay in £500+ and have 2x DDs pay out in a single month), then the monthly fee is never charged. Importantly, you still qualify for the Edge saver.

Thanks, I think I will wait until the Saver matures in April and then I downgrade the Edge CA and do as you say. Thank you very much! 

I have 2 personal edge accounts and 2x savers, a third one is also now possible I believe

Don't pay the fees on either

crumpet_man

Nasqueron said:

seriously said:

flaneurs_lobster said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Got a nasty feeling that if you stop the £500 (why, it only needs to be there for a moment) then they will stop cashback being earned on the DDs but still charge the fee.

Any chance you can make the cashback be more than the £3 fee (add council tax, utilities, internet+TV, mobile bills)?

Otherwise open another Edge CA with no DDs and no payments in, open an Edge Saver and transfer.

I have already have two Edge CAs and two Savers, one joint with my wife and one personal. All of our bills are in the joint account and we don't pay enough (fortunately) to cover back the fee, which is fine as the Saver is more than worth it for the interest anyways!

PRAISETHESUN said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Once you qualify to be charged the monthly fee then Santander will continue to charge it, even if you stop meeting the cash back criteria in future. The only way that I'm aware of to stop the fee being charged is to downgrade to an Everyday account, or failing that, to close the account.

You could open a new Edge account and set it up to avoid being charged the monthly fee. If you never qualify for cashback (ie. never pay in £500+ and have 2x DDs pay out in a single month), then the monthly fee is never charged. Importantly, you still qualify for the Edge saver.

Thanks, I think I will wait until the Saver matures in April and then I downgrade the Edge CA and do as you say. Thank you very much! 

I have 2 personal edge accounts and 2x savers, a third one is also now possible I believe

Don't pay the fees on either

Don't think you can get three Edge current accounts.  You can have two and then have an Edge Explorer current account but don't think there is a way to avoid the monthly fee on that one.

seriously

friolento said:

seriously said:

flaneurs_lobster said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Got a nasty feeling that if you stop the £500 (why, it only needs to be there for a moment) then they will stop cashback being earned on the DDs but still charge the fee.

Any chance you can make the cashback be more than the £3 fee (add council tax, utilities, internet+TV, mobile bills)?

Otherwise open another Edge CA with no DDs and no payments in, open an Edge Saver and transfer.

I have already have two Edge CAs and two Savers, one joint with my wife and one personal. All of our bills are in the joint account and we don't pay enough (fortunately) to cover back the fee, which is fine as the Saver is more than worth it for the interest anyways!

PRAISETHESUN said:

seriously said:

I have an Edge current and Saver account but I've always had 2 x direct debits and transfer in at least £500 so I get charged the £3 fee. If I stop doing this, would they stop charging the fee? 

It wouldn't hurt to try right, as in I won't lose my Saver account and it's 6% interest?

Once you qualify to be charged the monthly fee then Santander will continue to charge it, even if you stop meeting the cash back criteria in future. The only way that I'm aware of to stop the fee being charged is to downgrade to an Everyday account, or failing that, to close the account.

You could open a new Edge account and set it up to avoid being charged the monthly fee. If you never qualify for cashback (ie. never pay in £500+ and have 2x DDs pay out in a single month), then the monthly fee is never charged. Importantly, you still qualify for the Edge saver.

Thanks, I think I will wait until the Saver matures in April and then I downgrade the Edge CA and do as you say. Thank you very much! 

You don’t need to wait. You can request closure of the Edge Saver straight away - just ask in the chat. It takes a few days for them to action the closure. Once it’s gone, and once you have your new Edge current account, you can open a new Edge Saver again.

 

Oh I should have been clearer, when I meant mature, I mean it my 12 months will end in April but I do get my interest monthly anyways. 

Would be it wise to wait until I get the interest for the next payment and then close it my Edge CA after that? Then open a new CA without paying in the £500 + 2 DDs and apply for a new Edge Saver that way? It'll save me 2-3 months of the £3 fee but just wondering would I be allowed to open another one having not completed my 12 month term.

Thanks!