Santander debit card cashback ending

leenumber10

I think I was only making £2 with both lots of the cashback offers, so I think I'll change it to the TSB account and grab that offer.

GeoffTF

I fear that my 123 Lite will be next in the firing line. A few weeks ago Santander emailed me saying that the Edge account would pay me more cashback (which was not true). Now they have cut the Edge cashback.

HedgehogRulez

GeoffTF said:

I fear that my 123 Lite will be next in the firing line. A few weeks ago Santander emailed me saying that the Edge account would pay me more cashback (which was not true). Now they have cut the Edge cashback.

My fear also. Currently get £10 cashback a month (albeit missing the April Octopus £5 still) but suspect its days are numbered 

goatfaced

Me too, the 123 lite gives me more than a fiver a month profit. At the moment I'm getting 1% back from nationwide, capped at a diver. That's only for the first year of the account though. Following this thread for ideas on what else people are doing. 

flaneurs_lobster

goatfaced said:

Following this thread for ideas on what else people are doing. 

Best cashback on spending deal that I'm aware of currently is actually with Santander, albeit a credit card.

Santander Edge card pays 2% on just about all spend up to £15/mth with a £3/mth fee so £12/mth max for a year. 1% after 12 months.

I use it to buy gift cards at Airtime for my supermarket spend, they give 4% cashback paid as mobile phone bill credit.

Not exactly simple but probably the best general return.

MSE_Gavin

Morning folks  

We've just written a news story on this topic so thought this would be a good place to pop it in the forum!

Seems like all the main points have been covered in this thread but just in case you wanted to read all about it in our usual MSE style...

Santander Edge customer? It's axing its 1% cashback on spending

Elvie100

GeoffTF said:

I fear that my 123 Lite will be next in the firing line. A few weeks ago Santander emailed me saying that the Edge account would pay me more cashback (which was not true). Now they have cut the Edge cashback.

I found this on their website, although have not had any notification: https://www.santander.co.uk/personal/support/current-accounts/changes-to-your-current-account

Moving to Everyday Current Account
From 21 August, we're planning to convert the 1|2|3 Lite Current Account to our Everyday Current Account. This is the nearest alternative account type we offer.
The Everyday Current Account doesn’t pay any credit interest or cashback and doesn't have a monthly fee. It offers an arranged overdraft with a representative rate of 39.94% APR/EAR (variable).

Your options
If you want to carry on using your account after it’s changed, you don’t need to do anything. However, you do have a couple of other options as well:

• ​You might be able to transfer to another Santander account – take a look at our full range of current accounts. If you do transfer, you can keep your existing account details including the account number and debit card.
• ​You can close or switch your account without charge. We’re a member of the Current Account Switch Service, which offers a secure and easy way to switch your account to another bank in 7 working days. You can find more information through the CASS website

7sefton

Ugh really annoyed about the end of 123 Lite. 

I have a large Santander mortgage so I was averaging £10 cashback a month. 

They seem to be amongst the worst at tweaking deals and using teaser offers… and with the news about it potentially being a takeover target due to poor returns vs other Santander’s other foreign markets, they’re just slashing costs whenever they can. 

Hattie627

flaneurs_lobster said:

goatfaced said:

Following this thread for ideas on what else people are doing. 

Best cashback on spending deal that I'm aware of currently is actually with Santander, albeit a credit card.

Santander Edge card pays 2% on just about all spend up to £15/mth with a £3/mth fee so £12/mth max for a year. 1% after 12 months.

I use it to buy gift cards at Airtime for my supermarket spend, they give 4% cashback paid as mobile phone bill credit.

Not exactly simple but probably the best general return. 

I took out a Santander Edge credit card on May 28th last year and have used it for all card spending since then, with 2% cashback. Most months I have received around £15 cashback (max allowed) less the £3 credit card fee, meaning about £12 net per month. I clear the balance on the credit card as I go along, so never pay interest. I've kept my Santander Edge current account going, really just to get the Edge Saver, and cover the £3 fee with the 1% cashback on the usual household direct debits.

I'm a few days off going down to 1% cashback on the credit card. The maximum cashback remains at £15 but needs double the spend.  Would it be cheeky of me to cancel the credit  card and take out a new one? Has anyone done this? Would Santander block a new application even if I pass the credit test?

flaneurs_lobster

Hattie627 said:

Would it be cheeky of me to cancel the credit  card and take out a new one? Has anyone done this? Would Santander block a new application even if I pass the credit test?

I'd be amazed if this hack wasn't blocked by Santander somehow but I'd still be very grateful if you were to try it out for the rest of us please? 

Would it be a great inconvenience if you were knocked-back from the card application? Got another card that gives 1% cashback?

Presumably you would clear down the card balance to zero as a prerequisite to closure then wait a decent period of, say, a month? then re-apply?