How many Santander Edge joint current accounts can you hold?

What_time_is_it

There’s a max of 2 accounts allowed in total per customer, but I’m not clear whether you can have 2 joint accounts or not?

allegro120

What_time_is_it said:

There’s a max of 2 accounts allowed in total per customer, but I’m not clear whether you can have 2 joint accounts or not?

Aa far as I know you can only have 1 sole and 1 joint.  I don't know whether this rule is enforced or not.

IvanOpinion

Yes, one joint account, 1 sole account.
However if you have multiple wives you may be allowed more. 

What_time_is_it

Thanks.
i think I will still to that rule just in case
My partner and already have a joint Edge current account and a saver each. We will each open another Edge current account and another saver each.
It seems like providing that we never set up any direct debits on the new Edge current accounts we will never be charged the £3 monthly fee.
Hopefully I’ve got all that right?!

What_time_is_it

IvanOpinion said:

Yes, one joint account, 1 sole account.
However if you have multiple wives you may be allowed more. 

Not sure the current wife will like that, but maybe if I explain that it means we get a slightly higher interest rate on £4k she might be ok with it? 

grumpy_codger

That's what their  Santander Edge current account Key Facts Document (PDF - 891 KB)  says:

You can’t have more than two Santander Edge current accounts with us. So, if you have a Santander Edge current account in your sole name and also a joint account, you can’t apply for another. 

IMO, it's clear that you can have two joint accounts if you don't have a sole one. In this case you have only two accounts between you, not three.

What_time_is_it

grumpy_codger said:

That's what their  Santander Edge current account Key Facts Document (PDF - 891 KB)  says:

You can’t have more than two Santander Edge current accounts with us. So, if you have a Santander Edge current account in your sole name and also a joint account, you can’t apply for another. 

IMO, it's clear that you can have two joint accounts if you don't have a sole one. In this case you have only two accounts between you, not three.

This is exactly where the confusion arises from. I agree with you - it is clear from the key facts documents. BUT the website has contradictory information!

You can apply if:

• you’re over 18
• you live in the UK permanently.

You may only hold a maximum of two Santander Edge current accounts, one in your own name and one in joint names.

I’ve clarified this with Santander now. They have confirmed that only one joint Edge account is allowed. The key facts document is, if I am being generous, misleading. (I think it is wrong to be honest!)

friolento

Santander CS are not likely to tell you about loopholes in their systems, if they even know about them. A common way to finding out what’s allowed is to try your luck. If your application gets accepted, you get your account(s) and might never hear anything from them. If they do pull you up, it will only be a friendly telling off and closure of the offending account. That’s not specific to Santander.

The more people exploit loopholes, the more likely it becomes that loopholes disappear. One of the quickest ways to make loopholes vanish is to tell CS about them 😉

grumpy_codger

What's the advantage of having two joint Edge accounts?

What_time_is_it

grumpy_codger said:

What's the advantage of having two joint Edge accounts?

You can have 1 Edge Savings account per Edge current account that you hold. So 2 joint accounts would have allowed 2 savings accounts each paying 6% on £4k in each one. 

We’re now doing 1 joint and 1 sole current account each to reach the same point - £16k earning 6% across 4 easy access Edge Savings accounts.

allegro120

What_time_is_it said:

Thanks.
i think I will still to that rule just in case
My partner and already have a joint Edge current account and a saver each. We will each open another Edge current account and another saver each.
It seems like providing that we never set up any direct debits on the new Edge current accounts we will never be charged the £3 monthly fee.
Hopefully I’ve got all that right?!

Yes, you've got it right! We have 2 sole and 1 joint Edge current accounts, this allows us to have 4 Edge savers (£16k in total).  We don't have any Direct Debits on these accounts, therefore no monthly fees.

Don't forget to withdraw monthly interest because anything above £4k per account won't pay interest.