Santander Edgeup costing us money

DougWeller

My wife and I have a joint account. We had emails today saying

You've paid £30 in monthly account fees and earned £14.67 cashback and interest on your Santander Edge Up current account in the last 6 months.

This means you’re paying a monthly fee but aren’t getting all of the benefits of the account. Don’t forget to be eligible for cashback or interest you need to pay in £1,500 and have two or more active Direct Debits each month.

We might be able to pay that and then withdraw it, but that won’t work soon as I am dying shortly from cancer.

Any ideas as to what we should do? I presume switch.

Thanks

Doug

eskbanker

If you're not getting value for money from this account then you could get them to convert it to another within their range:

https://www.santander.co.uk/personal/support/current-accounts/compare-our-range-of-current-accounts

or switch elsewhere if you prefer, potentially benefitting from incentives on offer:

https://www.moneysavingexpert.com/banking/compare-best-bank-accounts/#switch

35har1old

https://forums.moneysavingexpert.com/discussion/6653830/santander-edgeup-costing-us-money

How do pay for electricity water council tax broadband and mobile phones.if these are paid from other current accounts which do not give you cash back or they are not required to mintain those accounts.

Setup the direct debits with Santander

35har1old

Some of the switch incentives require one of payments of £1000 and others on going regular funding of ssme

DougWeller

I have looked at their different accounts, according to the list the account we have has a £5 monthly fee but the email says £30!

Renfrewman

https://forums.moneysavingexpert.com/discussion/comment/81871294#Comment_81871294

The £30 covers a six month period ie £5/month.

DougWeller

Of course, thanks.

Doug

born_again

When Santander changed terms on 123 lite, I looked at edge acc, went from £6 a month to pence on rewards. Now with nationwide & getting £10 a month in interest & card rewards. OK only for year, but far better than even the 123 lite.

harz99

https://forums.moneysavingexpert.com/discussion/comment/81871378#Comment_81871378

Presumably a Flex direct, and you only get the interest part of it if you haven't had one before...

Stargunner

You could downgrade your edge up account to an everyday account. It will retain the same account No. You won’t earn any cash back, but you also won’t have to pay any monthly fees.

Maegi

https://forums.moneysavingexpert.com/discussion/6653830/santander-edgeup-costing-us-money

Sorry to hear about your condition.

There are calculators on the Santander website to see if Everyday or Edge would better.