Santander Edge Saver ending

CricketLady

Sorry, I'm confused - I have a Santander Edge current account which I have to pay £3 monthly fee on, so that I get 1% cashback on my monthly bills (council tax, gas, electric etc.) which means I also have access to the Santander Edge Saver at 6% on £4000.

It says on their website that you can have an Edge Saver 6% account for each Edge Current account that you have - but if I open another Edge Current account surely I'll have to pay £3 per month for this too, and get no cashback on bills (as I'll keep them all on the original one.) 

Is that right? I suppose, thinking about it, it would still be worth paying £3 per month to get the 6% interest on another £4k, is that what other people do?  

soulsaver

....Or you could read the thread.

Stargunner

CricketLady said:

Sorry, I'm confused - I have a Santander Edge current account which I have to pay £3 monthly fee on, so that I get 1% cashback on my monthly bills (council tax, gas, electric etc.) which means I also have access to the Santander Edge Saver at 6% on £4000.

It says on their website that you can have an Edge Saver 6% account for each Edge Current account that you have - but if I open another Edge Current account surely I'll have to pay £3 per month for this too, and get no cashback on bills (as I'll keep them all on the original one.) 

Is that right? I suppose, thinking about it, it would still be worth paying £3 per month to get the 6% interest on another £4k, is that what other people do?  

You don’t get charged the £3 fee if you don’t set up 2 direct debits and pay in £500 or more a month.

CricketLady

Thankyou so much for that - I did read the thread but got confused with someone saying that they did something to avoid paying the fee.  As far as I can see, if I set up a second Edge Current Account I'll have to pay another £3 fee.  That's all I was confused about.

wmb194

CricketLady said:

Thankyou so much for that - I did read the thread but got confused with someone saying that they did something to avoid paying the fee.  As far as I can see, if I set up a second Edge Current Account I'll have to pay another £3 fee.  That's all I was confused about.

From the terms: "We'll start charging this fee after you meet the conditions for earning cashback for the first time" is the key line. Don't meet the conditions, don't pay a fee.

CricketLady

Someone earlier in this thread said "ooh! I didn't know you could have two sole ones" which doesn't seem to be the case based on the terms and conditions, I read it that to have two you have to have a sole one and a joint one

Having looked on Santander's website, it clearly states "You may only hold a maximum of two Santander Edge current accounts, one in your own name and one in joint names."

friolento

CricketLady said:

Someone earlier in this thread said "ooh! I didn't know you could have two sole ones" which doesn't seem to be the case based on the terms and conditions, I read it that to have two you have to have a sole one and a joint one

Having looked on Santander's website, it clearly states "You may only hold a maximum of two Santander Edge current accounts, one in your own name and one in joint names."

That’s correct, it’s what they say on their website.

It doesn’t mean that you need to pay a monthly fee on either of the accounts. It is totally in your control whether you trigger the fee. 

ThePirates

I've just opened a second sole one with out any issues!

clivep

ThePirates said:

I've just opened a second sole one with out any issues!

Have you managed to open a 3rd Edge Saver?

Stargunner

CricketLady said:

Someone earlier in this thread said "ooh! I didn't know you could have two sole ones" which doesn't seem to be the case based on the terms and conditions, I read it that to have two you have to have a sole one and a joint one

Having looked on Santander's website, it clearly states "You may only hold a maximum of two Santander Edge current accounts, one in your own name and one in joint names."

No, The Santander website doesn’t state that.