2 x Santander Edge Accounts

sazandy25

Hi, I currently have an individual santander edge account & edge saver (with max £4000), my wife has the same (also maxed out)
I'm led to believe we can have 2 edge accounts each does that mean we can open a joint edge account & a joint edge saver?
Thanks

grumpy_codger

The former - 3

sazandy25

Thanks, sorry edited post as found answer, but nothing about 2 edge savers?

Stargunner

sazandy25 said:

Thanks, sorry edited post as found answer, but nothing about 2 edge savers?

If you have a joint Edge CA, you can both have a joint Edge saver, so you can have s total of 4 Edge savers between you.

sazandy25

Thanks, all sorted. 4 edge savers opened. Thanks all for help 👍

seriously

I also have an Edge at 6%, which pays interest monthly. Shall I withdraw this interest or keep it in the account as it says nothing over £4k is earned. 

I'm about to apply for the Cahoot 5% too. Should I ask it to pay monthly or annually?

ThePirates

I have 2 style Edge Currents (fee free) and 2 Edge Savers at 6%

ThePirates

seriously said:

I also have an Edge at 6%, which pays interest monthly. Shall I withdraw this interest or keep it in the account as it says nothing over £4k is earned. 

I'm about to apply for the Cahoot 5% too. Should I ask it to pay monthly or annually?

Withdraw the interest, anything over £4k earns nothing.

danny13579

seriously said:

I'm about to apply for the Cahoot 5% too. Should I ask it to pay monthly or annually?

How much are you planning on putting into the Cahoot account? If it's the full £3,000 you should get it monthly and withdraw it as soon as you get it (same as with the Edge). If it's under £2,857.14 you're probably better getting it annually as the interest compounds at any amount under that amount over the course of the year.

If it's between £2,857.15 and £3,000 it will stop compounding at some point during the year, depending on the amount in the account. So probably monthly as you can't change your mind during the year.

This assumes you keep the amount you put into the account when you open it the same for the full year (no dipping in and out) and the rate doesn't change.

seriously

ThePirates said:

seriously said:

I also have an Edge at 6%, which pays interest monthly. Shall I withdraw this interest or keep it in the account as it says nothing over £4k is earned. 

I'm about to apply for the Cahoot 5% too. Should I ask it to pay monthly or annually?

Withdraw the interest, anything over £4k earns nothing.

danny13579 said:

seriously said:

I'm about to apply for the Cahoot 5% too. Should I ask it to pay monthly or annually?

How much are you planning on putting into the Cahoot account? If it's the full £3,000 you should get it monthly and withdraw it as soon as you get it (same as with the Edge). If it's under £2,857.14 you're probably better getting it annually as the interest compounds at any amount under that amount over the course of the year.

If it's between £2,857.15 and £3,000 it will stop compounding at some point during the year, depending on the amount in the account. So probably monthly as you can't change your mind during the year.

This assumes you keep the amount you put into the account when you open it the same for the full year (no dipping in and out) and the rate doesn't change.

Thank you two! That makes things very clear for me. Much appreciated