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Santander Edge Saver ended
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Do i understand it correctly?. I have edge explorer account and i got email about this edge saver (6% up tp 4k, bonus 2.5% for first 12 months after opening) but i ignored it as i thought bonus was only for 12 months (and I got 5k in natwest digital saver, 5.25%) - if i open it now i i got 6% for a year, after a year i close edge saver, then reopen it and i have another 12 months with 6% (new bonus?) or whatever they offer at this time?. If it's like this it's no brainer to use it for me..(I will keep edge explorer as its joint account and we opened it for a insurances and cashback on dd, it cost us £13 so its ok)
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Do i understand it correctly?
Yes.
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Just trying to understand this…
…a good reason to do it after or a good while before.
But what is it that is being done, and 'after or a good while before' what event?
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A good while before monthly interest is added (typically this would be in the final month, after notice of the rate change is given) - in case an automatic credit of interest gets in the way of the closure process.
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OK, understood.
Maybe @charlieboycat might have the best way to smooth the account closure process:
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Yes I like this approach. It means diarising and taking non-working days into account, but I may give this a try next time.
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I have just read the letter properly, was out on my mobile when I got the message and just saw 28th, and it says "On 28/11/26 we are changing ……" so not all bad. Hopefully all will be sorted well before then.
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
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Just received another "Welcome to your new Edge saver" e-mail for the first one I opened last Friday, the one they are going to downgrade !
Never associate with idiots on their own level, because, being an intelligent man, you'll try to deal with them on their level - and on their level they'll beat you every time.
Being hated by idiots is the price you pay for not being one of them.
Jean Cocteau 1889-1963
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Remember that with a joint current account you and your partner can each have their own Edge saver making it a possible £8000 earning 6%.
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My Edge Saver disappeared this evening (within the last couple of hours), so I've been able to reapply and fund the new account, though sadly not before the cut-off time. So it ended up being 8 days my money was languishing in an account paying 5% instead of 6%. Not ideal, but I can live with that.
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