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

surreysaver

Middle_of_the_Road said:

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.

Strictly speaking, to adhere to the T&Cs of the Edge Saver account, you need to pay into the Saver via the Edge Current account, which will obviously mean going over the £500 mark. So best to avoid the fee by not setting up the direct debits. Although in practice, you can pay into the Edge Saver any way you like.

Nasqueron

Middle_of_the_Road said:

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.

Correct but what I was explaining is that paying in £500 to the Santander current account in order to move it to the savings account doesn't trigger the fee. The post quoted states 

"never pay in the £500 that triggers the cashback"

This is worded badly as it implies paying in £500 will trigger the cashback, but it doesn't - obviously if you have the saver you would ideally want £4000 in it, paying in £4000 won't trigger anything

Middle_of_the_Road

Nasqueron said:

Middle_of_the_Road said:

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.

Correct but what I was explaining is that paying in £500 to the Santander current account in order to move it to the savings account doesn't trigger the fee. The post quoted states 

"never pay in the £500 that triggers the cashback"

This is worded badly as it implies paying in £500 will trigger the cashback, but it doesn't - obviously if you have the saver you would ideally want £4000 in it, paying in £4000 won't trigger anything

It does if you have active DDs in place in the month you pay in the £500

friolento

surreysaver said:

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.

Thank you, this explains it very well.

Nasqueron

Middle_of_the_Road said:

Nasqueron said:

Middle_of_the_Road said:

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.

Correct but what I was explaining is that paying in £500 to the Santander current account in order to move it to the savings account doesn't trigger the fee. The post quoted states 

"never pay in the £500 that triggers the cashback"

This is worded badly as it implies paying in £500 will trigger the cashback, but it doesn't - obviously if you have the saver you would ideally want £4000 in it, paying in £4000 won't trigger anything

It does if you have active DDs in place in the month you pay in the £500

Again, correct but misses the point. Paying in £500 as you stated does NOT trigger the fees. Nobody would take the current account and saver and take steps to avoid the fee only to pay in £499 a month

Your comment was worded badly, just own it and move on.

surreysaver

friolento said:

surreysaver said:

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.

Thank you, this explains it very well.

Or you could convert it to an Everyday account - that would keep the same account number. I'd imagine leaving it for one statement cycle, then converting it back to Edge would work (again keeping the same account number), although I haven't tried that!

20122013

surreysaver said:Or you could convert it to an Everyday account - that would keep the same account number. I'd imagine leaving it for one statement cycle, then converting it back to Edge would work (again keeping the same account number), although I haven't tried that!

My Edge Current account has been switched to an Everyday Saver account (more or less instant) and have cancelled all my DDs.

When should I switch back to a Current account and close my Edge Saver account (currently NIL balance) and open a new one? as a new Edge Saver will take 2 - 5 working days to open.  

friolento

20122013 said:

surreysaver said:Or you could convert it to an Everyday account - that would keep the same account number. I'd imagine leaving it for one statement cycle, then converting it back to Edge would work (again keeping the same account number), although I haven't tried that!

My Edge Current account has been switched to an Everyday Saver account (more or less instant) and have cancelled all my DDs.

When should I switch back to a Current account and close my Edge Saver account (currently NIL balance) and open a new one? as a new Edge Saver will take 2 - 5 working days to open.  

I suspect you mean you changed your Edge CA to an Everyday CA. If so, and if you have confirmed that the  DDs are gone, you can upgrade to an Edge CA right away. Or you could apply for a new Edge CA, though that involves a hard credit check and might not be quite as quick as upgrading. With a new account, you would be certain that there is no trace of a DD.

You can also request closure of your Edge Saver immediately. It takes several business days fir them to action the closure but once the old Saver no longer shows in your account list, you can apply for the new Saver. It will usually show within minutes and be ready for deposits. My last one took several hours before it showed in the app, but I could see it online as soon as I had the confirmation email, within a minute or two of completing the application 

20122013

I have opened a Santander Edge Saver account and cancelled all my Edge Current account DDs. 

Can I pay £200 into my Edge CA and then transfer it to the Monthly Saver without triggering the monthly fee? if so, is there a work around for this, please/

ThePirates

You don't need to tfr via the Current Account, pay directly into the Saver