How to get a Santander Edge Saver without using the current account

20122013

20122013 said: 

17 April at 11:47PM

From 9/6/25 the rate on my account will dropped from 4.5% to 4%, Can I close my account now and open a new one for the 6% rate? Also, I have been paying the £3 mthly fee, is there a way to get around that?

As per my post above, I could not see the rate changed on my Edge Saver account and Santander had confirmed the same, but from the 'document' in my account (described in my post above) this is not the case. I also got an email to say that cash back will be changed, too.  My Edge Saver Issue 2 is on  5.84%,

I am now thinking is there a way to cancel the £3 monthly fee  but still earn interest (on or above 5.84% on the Edge Saver  ? 

Middle_of_the_Road

20122013 said:

20122013 said: 

17 April at 11:47PM

From 9/6/25 the rate on my account will dropped from 4.5% to 4%, Can I close my account now and open a new one for the 6% rate? Also, I have been paying the £3 mthly fee, is there a way to get around that?

As per my post above, I could not see the rate changed on my Edge Saver account and Santander had confirmed the same, but from the 'document' in my account (described in my post above) this is not the case. I also got an email to say that cash back will be changed, too.  My Edge Saver Issue 2 is on  5.84%,

I am now thinking is there a way to cancel the £3 monthly fee  but still earn interest (on or above 5.84% on the Edge Saver  ? 

You can't cancel the fee. You could close the account, an open another and never pay in the £500 that triggers the cashback.

ThePirates

Once you start paying the fee it doesn't stop, you'll have to close the account and open another one. Then don't create any DDs.

20122013

Will this work, wait till my interest from my Edge Saver has been paid then transfer the full balance into my Edge Current account.  Do I need to close both accounts, and open two new accounts, or just close and open the Edge Saver, and cancel all the DD and stop paying £500 into the existing Current account, please?

ThePirates

When your Edge Saver rate reduces you can close and open another one, takes 3-5 working days but you can never stop paying the £3 fee on the Edge Current without closing it and opening another.
So you'll have to close both and try opening fresh ones again.

Middle_of_the_Road

20122013 said:

Will this work, wait till my interest from my Edge Saver has been paid then transfer the full balance into my Edge Current account.  Do I need to close both accounts, and open two new accounts, or just close and open the Edge Saver, and cancel all the DD and stop paying £500 into the existing Current account, please?

Close the current account, and open another one. Don't pay in £500 or set up direct debits. No fee will be charged on the new current account.

Close the Edge savings account in the app, and open another for the higher rate.

friolento

Middle_of_the_Road said:

20122013 said:

Will this work, wait till my interest from my Edge Saver has been paid then transfer the full balance into my Edge Current account.  Do I need to close both accounts, and open two new accounts, or just close and open the Edge Saver, and cancel all the DD and stop paying £500 into the existing Current account, please?

Close the current account, and open another one. Don't pay in £500 or set up direct debits. No fee will be charged on the new current account.

Close the Edge savings account in the app, and open another for the higher rate.

Are you positive that you must close the current account, or is it enough to close the saver?

Nasqueron

Middle_of_the_Road said:

20122013 said:

20122013 said: 

17 April at 11:47PM

From 9/6/25 the rate on my account will dropped from 4.5% to 4%, Can I close my account now and open a new one for the 6% rate? Also, I have been paying the £3 mthly fee, is there a way to get around that?

As per my post above, I could not see the rate changed on my Edge Saver account and Santander had confirmed the same, but from the 'document' in my account (described in my post above) this is not the case. I also got an email to say that cash back will be changed, too.  My Edge Saver Issue 2 is on  5.84%,

I am now thinking is there a way to cancel the £3 monthly fee  but still earn interest (on or above 5.84% on the Edge Saver  ? 

You can't cancel the fee. You could close the account, an open another and never pay in the £500 that triggers the cashback.

It's not the £500, it's the DD that activates the fee - no use in having the saver and not being able to pay in more than £499! I have the full £4000 in it, no fee as no DDs on the account

surreysaver

friolento said:

Middle_of_the_Road said:

20122013 said:

Will this work, wait till my interest from my Edge Saver has been paid then transfer the full balance into my Edge Current account.  Do I need to close both accounts, and open two new accounts, or just close and open the Edge Saver, and cancel all the DD and stop paying £500 into the existing Current account, please?

Close the current account, and open another one. Don't pay in £500 or set up direct debits. No fee will be charged on the new current account.

Close the Edge savings account in the app, and open another for the higher rate.

Are you positive that you must close the current account, or is it enough to close the saver?

If you need to stop paying the current account fee, you need to close the current account.  Otherwise there's no need to close the current account.

Middle_of_the_Road

Nasqueron said:

Middle_of_the_Road said:

20122013 said:

20122013 said: 

17 April at 11:47PM

From 9/6/25 the rate on my account will dropped from 4.5% to 4%, Can I close my account now and open a new one for the 6% rate? Also, I have been paying the £3 mthly fee, is there a way to get around that?

As per my post above, I could not see the rate changed on my Edge Saver account and Santander had confirmed the same, but from the 'document' in my account (described in my post above) this is not the case. I also got an email to say that cash back will be changed, too.  My Edge Saver Issue 2 is on  5.84%,

I am now thinking is there a way to cancel the £3 monthly fee  but still earn interest (on or above 5.84% on the Edge Saver  ? 

You can't cancel the fee. You could close the account, an open another and never pay in the £500 that triggers the cashback.

It's not the £500, it's the DD that activates the fee - no use in having the saver and not being able to pay in more than £499! I have the full £4000 in it, no fee as no DDs on the account

It's both, not doing either will avoid the fee. But yes, best not to set up DDs. 
Paying in 500 to the current account is nothing to do with the edge saver.