TSB or SANTANDER REGULAR SAVER?

Middle_of_the_Road

Bob2000 said:

Well, l started this thread to ask about which regular saver was the best out of the two current accounts to use, and it's morphed  into an edge saver discussion.

So l'm adding  to it.....

Still don't know if you can fund the edge saver from a non-santander  account. 
Some have said they have done this, although the terms say it must be funded ........from the Edge current account.

None the wiser if paying in £500 per month triggers  the fee either.
No, not if you have no direct debits in place.

Comments in bold^

wmb194

What_time_is_it said:

surreysaver said:

What_time_is_it said:

wmb194 said:

What_time_is_it said:

Stargunner said:

Firstly, I would convert the unused santander account to an edge account. If you don’t meet the qualifying criteria to earn the cashback you will not be charged the £3 monthly fee. 

Then you can open an efge saver that pays 6% for balances up yo £4000.

Can you explain how the “not meeting the qualifying criteria” works? I thought they charged £3 a month regardless? Would be great if I can avoid that charge!

Just don't put two DDs on it.

Thanks! And that works does it?

I’m asking because I’ve just opened a second Edge Current account in joint names with my partner. It’s with the sole intension of having another Edge Saver account each to stick £4k x2 into. 

So, if I don’t set up the direct debits and don’t pay anything into the Edge current account we won’t be charged the £3 monthly fee and we will still be able to have the savers each too? 

We all do it. No one gets charged the fee.

Amazing. Thanks!

do I have to pay in the £500 a
month? Or maintain a minimum balance? Or use the current account at all?
We put in £1 when we opened it. Can we just leave that and never touch the account again? And be fine to have the savings account each?

What do the T&Cs say?

Bob2000

Middle_of_the_Road said:

Bob2000 said:

Well, l started this thread to ask about which regular saver was the best out of the two current accounts to use, and it's morphed  into an edge saver discussion.

So l'm adding  to it.....

Still don't know if you can fund the edge saver from a non-santander  account. 
Some have said they have done this, although the terms say it must be funded by standing order, from the Edge account.

None the wiser if paying in £500 per month triggers  the fee either.
No, not if you have no direct debits in place.

Comments in bold^

Thank you for the bold answers.

So l could put £4000 in one go and just withdraw  the interest?

Stargunner

Bob2000 said:

Middle_of_the_Road said:

Bob2000 said:

Well, l started this thread to ask about which regular saver was the best out of the two current accounts to use, and it's morphed  into an edge saver discussion.

So l'm adding  to it.....

Still don't know if you can fund the edge saver from a non-santander  account. 
Some have said they have done this, although the terms say it must be funded by standing order, from the Edge account.

None the wiser if paying in £500 per month triggers  the fee either.
No, not if you have no direct debits in place.

Comments in bold^

Thank you for the bold answers.

So l could put £4000 in one go and just withdraw  the interest?

 Yes.

Answers to all the questions you have just been asking are in this thread. 

Middle_of_the_Road

Bob2000 said:

Middle_of_the_Road said:

Bob2000 said:

Well, l started this thread to ask about which regular saver was the best out of the two current accounts to use, and it's morphed  into an edge saver discussion.

So l'm adding  to it.....

Still don't know if you can fund the edge saver from a non-santander  account. 
Some have said they have done this, although the terms say it must be funded by standing order, from the Edge account.

None the wiser if paying in £500 per month triggers  the fee either.
No, not if you have no direct debits in place.

Comments in bold^

Thank you for the bold answers.

So l could put £4000 in one go and just withdraw  the interest?

Exactly, and withdraw the interest monthly.

ColdIron

Bob2000 said:

Middle_of_the_Road said:

Bob2000 said:

Well, l started this thread to ask about which regular saver was the best out of the two current accounts to use, and it's morphed  into an edge saver discussion.

So l'm adding  to it.....

Still don't know if you can fund the edge saver from a non-santander  account. 
Some have said they have done this, although the terms say it must be funded by standing order, from the Edge account.

None the wiser if paying in £500 per month triggers  the fee either.
No, not if you have no direct debits in place.

Comments in bold^

Thank you for the bold answers.

This comment in bold seems wrong

Some have said they have done this, although the terms say it must be funded by standing order, from the Edge account.

I think the poster is confusing the Regular Saver (which says it can be funded with a SO) with the Edge Saver which does not need a SO

Middle_of_the_Road

ColdIron said:

Bob2000 said:

Middle_of_the_Road said:

Bob2000 said:

Well, l started this thread to ask about which regular saver was the best out of the two current accounts to use, and it's morphed  into an edge saver discussion.

So l'm adding  to it.....

Still don't know if you can fund the edge saver from a non-santander  account. 
Some have said they have done this, although the terms say it must be funded by standing order, from the Edge account.

None the wiser if paying in £500 per month triggers  the fee either.
No, not if you have no direct debits in place.

Comments in bold^

Thank you for the bold answers.

This comment in bold seems wrong

Some have said they have done this, although the terms say it must be funded by standing order, from the Edge account.

I think the poster is confusing the Regular Saver (which says it can be funded with a SO) with the Edge Saver which does not need a SO

Will edit that. Indeed, Edge saver funding wouldn't require a standing order.

allegro120

Bob2000 said:

Middle_of_the_Road said:

Bob2000 said:

Well, l started this thread to ask about which regular saver was the best out of the two current accounts to use, and it's morphed  into an edge saver discussion.

So l'm adding  to it.....

Still don't know if you can fund the edge saver from a non-santander  account. 
Some have said they have done this, although the terms say it must be funded by standing order, from the Edge account.

None the wiser if paying in £500 per month triggers  the fee either.
No, not if you have no direct debits in place.

Comments in bold^

Thank you for the bold answers.

So l could put £4000 in one go and just withdraw  the interest?

This is correct, it's as simple as that.

The account has no end date, but bonus rate lasts for 12 months only, so you will need to refresh the account if the rate+bonus of new issue suits your needs at that time.

dealyboy

... sorry just to divert to the OP a second

Santander RS 5% fixed max £200 per mensiversary month (from opening date) fully flexible

TSB RS 5% fixed max £250 per calendar month (13 payments possible) flexible withdrawals
Note: T&Cs state min £25 and payment needs to be by SO from TSB CA, but according to many in our forum these conditions are not enforced.

dealyboy

ColdIron said:

Bobblehat said:

Does the Edge Saver have an external "regular payment out" facility, e.g. monthly? If it does, can you have more than one, to regularly fund the Santander and external RS's? 

Why would you fund RS accounts paying 5% from an account that pays 6%?

Perhaps fixed (RS) vs. variable (Edge saver) rate is a consideration,