Stop using Edge Current Account but keep Edge Saver Account?

sandyman80

I have been cutting back on what I spend on direct debits from my Santander Edge Current Account and because they no longer give cashback from shopping I now have less than £3.00 cashback which no longer covers the £3.00 fee so I am thinking of closing my edge current account ( maybe switching to get a switching bonus)

However I have a Santander edge savings account which is giving me £19.84 a month interest.so how do I close or switch my edge current account and still retain my edge saving account?

GingerTim

You can't. As I understand it, the Edge Saver is exclusively for those with an Edge Current Account - so close the CA, lose the Saver.

eskbanker

You must be 18 or over, live in the UK and have a Santander Edge current account.

You can have a maximum of two accounts – one for each Santander Edge current account you have (in your sole name or that you hold jointly with someone else).

If you don’t keep to these terms, we might switch your account to an Everyday Saver.

https://www.santander.co.uk/personal/savings-and-investments/savings/santander-edge-saver

noitsnotme

I don’t think you can.  Without the Edge current account you don’t qualify for the Edge Savings account.

When I changed from an Edge to an Edge Up current account, they changed my Edge Savings account a few months later to an Everyday Savings account.

Voyager2002

There 

sandyman80 said:

I have been cutting back on what I spend on direct debits from my Santander Edge Current Account and because they no longer give cashback from shopping I now have less than £3.00 cashback which no longer covers the £3.00 fee so I am thinking of closing my edge current account ( maybe switching to get a switching bonus)

However I have a Santander edge savings account which is giving me £19.84 a month interest.so how do I close or switch my edge current account and still retain my edge saving account?

There was a post a few months ago that explained this...

Apparently the Edge Current Account only starts charging the fee once you meet the conditions. So if you get rid of your present one; then open a new one but do not set up any direct debits on it, you can still have the Edge Saver but not pay the monthly fee.

Find that post for the exact details.

DiamondLil

The answer lies here:

https://forums.moneysavingexpert.com/discussion/6601967/how-to-get-a-santander-edge-saver-without-using-the-current-account?utm_source=community-search&utm_medium=organic-search&utm_term=Santander+Edge+

Open the Edge current account. Deposit a nominal amount. Do not set up DDs and do not pay in the monthly requirement. 

I did this and have had the Edge saver for two years now. First year paying 7%, second year paying 6%.

Current account hasn't been used since the initial £10 deposit.

Slinky

DiamondLil said:

The answer lies here:

https://forums.moneysavingexpert.com/discussion/6601967/how-to-get-a-santander-edge-saver-without-using-the-current-account?utm_source=community-search&utm_medium=organic-search&utm_term=Santander+Edge+

Open the Edge current account. Deposit a nominal amount. Do not set up DDs and do not pay in the monthly requirement. 

I did this and have had the Edge saver for two years now. First year paying 7%, second year paying 6%.

Current account hasn't been used since the initial £10 deposit.

I've done the same, and so has my husband. As we also have a joint 123 account we are allowed 2 Edge savers each, so currently have £16K between us earning 6%. I've just closed and reopened a new Edge saver that was due to lower the interest rate next month.

danny13579

sandyman80 said:

However I have a Santander edge savings account which is giving me £19.84 a month interest.so how do I close or switch my edge current account and still retain my edge saving account?

You can close your Edge current account and open a new one with no direct debits on it (to avoid the £3 fee). Then just leave it there.

If you were to close your Edge current account, Santander will write to you giving you 2 months to open a new Edge current account or else your Edge saver will be downgraded.

So you can have the saver without the current for up to 2 months. 

Nasqueron

DiamondLil said:

The answer lies here:

https://forums.moneysavingexpert.com/discussion/6601967/how-to-get-a-santander-edge-saver-without-using-the-current-account?utm_source=community-search&utm_medium=organic-search&utm_term=Santander+Edge+

Open the Edge current account. Deposit a nominal amount. Do not set up DDs and do not pay in the monthly requirement. 

I did this and have had the Edge saver for two years now. First year paying 7%, second year paying 6%.

Current account hasn't been used since the initial £10 deposit.

The monthly requirement is not a concern, I have paid in more than that when opening the account x2 to get the savers, it does not trigger the fee, only also having the 2x DD setup will do that

Nasqueron

sandyman80 said:

I have been cutting back on what I spend on direct debits from my Santander Edge Current Account and because they no longer give cashback from shopping I now have less than £3.00 cashback which no longer covers the £3.00 fee so I am thinking of closing my edge current account ( maybe switching to get a switching bonus)

However I have a Santander edge savings account which is giving me £19.84 a month interest.so how do I close or switch my edge current account and still retain my edge saving account?

Open a new Edge account (you can have 2 and 2 savers FWIW) and then close the other one, if you do want the £8k savings option, open another after the first is closed. I was able to open the account and saver in a couple of hours last month 

danny13579

Slinky said:
I've just closed and reopened a new Edge saver that was due to lower the interest rate next month.

Is there a new issue about to be released? We're currently on issue 3 (6.00% AER / 5.84% gross variable including bonus rate). Do you have a link to this? I couldn't find anything on Santander.