Open new Santander Edge and Current accounts?

FataVerde

Hi, my 6% on the Edge saver accounts expired today so I closed them via chatbot. I noticed that if you open new current accounts you also get Amazon vouchers. However, you need to use the current accounts for purchases to qualify for the voucher, which I imagine would trigger the monthly maintenance fee, wouldn't it.

Is it more advantageous to also close the current accounts and just reopen two new opens for the voucher? Can you avoid triggering the maintenance fee for the current accounts?

Here's are the conditions for the voucher

IMPORTANT: To be eligible for the Gift Card you must have been accepted for and activated a Santander Edge, Edge up, Edge Explorer or Everyday Current Account and make 10 debit card transactions each with a minimum value of £5 in each of the consecutive months of May, June and July 2026 (30 or more in total) and the account has not been closed. 

You will not be eligible if you have previously received, or are due to receive, a switch incentive or Amazon.co.uk Gift Card in the last 12 months.

PRAISETHESUN

You get charged the monthly fee the first time you qualify for DD cashback. If you never qualify, then the fee is never charged. So as long as you never pay in £500+ and pay out 2x DDs, in a single month then you are okay. However if you do this even once, then the fee will be then always be charged until you downgrade/close the account.

Debit card transactions for these offers are not DDs, so you can make as many debit card purchases as you need to qualify for the offer.

FataVerde

https://forums.moneysavingexpert.com/discussion/comment/81965622#Comment_81965622

Thanks! I couldn't remember the details in the T&Cs on what specifically triggers the fee.

35har1old

https://forums.moneysavingexpert.com/discussion/comment/81965622#Comment_81965622

Makes no difference if you do pay over £500 in

Just don't have any DD

35har1old

https://forums.moneysavingexpert.com/discussion/6664447/open-new-santander-edge-and-current-accounts

You can apply for a new saver account

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81966196#Comment_81966196

Agree that's the easiest way.

Not relevant to this particular offer, but for switch incentives which require you to set up multiple DDs and make a large deposit within a certain time frame to qualify, then it does become important to make sure you do not do both in the same statement month

danco

There certainly is a benefit in reducing the interest earned, but it will very much depend on individual circumstances. For me, once I have got to the £500 savings interest allowance, a cash ISA provides better rates than anything taxable. YMMV.

Nasqueron

https://forums.moneysavingexpert.com/discussion/comment/81968663#Comment_81968663

The Santander Edge paying 6% on £8k (over 2 free accounts) gives £480 a year near enough, with £5k in the NatWest and RBS regular saver at 5.5% that's another £250-270 (forget when they lowered the interest) before anything else but it also depends how quickly you need the money and how easy it is to get the money from the ISA. I suck up a small amount of tax for that flexibility but I keep more long term in an S&S ISA for better growth

georged123

I currently have a standard Santander current account. Can I simply open up an edge current account aswell to get a free gift card?

Also, if you don't pay in more than £500 into the Edge account, it doesn't charge you the £3 fee?

Stargunner

https://forums.moneysavingexpert.com/discussion/comment/81974062#Comment_81974062

yes you can and there will be no monthly fee.

danny13579

https://forums.moneysavingexpert.com/discussion/comment/81974062#Comment_81974062

Yes, see this thread about the current gift card offer. There are a number of accounts you can open to get the gift card, but you must register with VoucherSent before opening the account.

With the Edge account you can avoid the fee by either not paying £500+ into the account per month (month starting on the date you open the account, not per calendar month) or setting up fewer than 2 direct debits on the account (i.e. none or one are both fine).