Santander edge account vs 123 account

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By Ed Magnus For Thisismoney. Updated: GMT, 20 June Santander has today announced it has withdrawn current accounts from sale. Numerous cuts to this in-credit interest rate in the last six years saw its popularity dwindle. Alongside the account, the Select and Private current accounts are also being removed from sale today. Anyone who already has a , Select, or Private current account with Santander can choose if they'd like to retain their existing account or transfer elsewhere. Anybody choosing to transfer to a new Santander account will keep all their existing details including account number and sort code.

Santander edge account vs 123 account

From time to time banking regulations and laws change. Or there can be an update to a current account and the way it works. We will always let you know if these changes affect your current account and the way you bank with us. We changed the names of 2 of our current accounts. Everything else about the accounts stays the same. This change will reduce the cost of using the account. Account holders can continue to use their account as they do today. If you already have one of these accounts, you can continue to use it as usual. The features and benefits with your account remain the same, including cashback, in-credit interest and the monthly account fee. You can find details about your account on our Important information for accounts no longer available to open page. Not sure if the account you have is still right for you? You can also use our cashback and interest calculator to find out what your estimated earnings will be with the accounts we currently have available. This fee previously applied when you withdrew cash or made purchases outside the UK. Please choose to transact in the local currency to avoid other fees.

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Santander is removing its flagship current account from sale after more than a decade, as it launches a new current account offering cashback and other perks. Santander said that with the introduction of its new offering, its existing , Select, and Private current accounts are being removed from sale from Tuesday. We have a strong history of providing our customers with innovative accounts and we are pleased to be able to continue this with our new Edge Up current account. Its customers who already have a , Select, or Private Current Account now have a choice over whether they would like to keep their existing account or transfer to an Edge Up account. Those choosing to transfer can keep all their existing details, including their account number and sort code, Santander said. However, the perks on the account became less generous in the era of ultra-low interest rates.

Santander has launched Santander Edge, a new current account to replace its popular 1 2 3 Lite product. Then on top of all that, you can get cashback through Santander Boosts, which gives you random offers like cashback with certain retailers, vouchers, offers and prize draws when you sign up for free. Unlike the 1 2 3 Lite, Santander Edge lets you earn cashback on your everyday spending as well as direct debits for bills, so there are more opportunities to earn. Plus, not every company is eligible for cashback. Shell Energy for example is no longer on the Santander cashback list. With no special switching offers to sweeten the deal, the benefits are too marginal to be worth it. Skip to content Search for:.

Santander edge account vs 123 account

There are lots of good reasons to change your bank, including cash bonuses, high interest, fee-free travel money and low-cost overdrafts. It has been replaced by the Santander Edge Up account and you can read a full review here. Existing current account holders can still keep theirs open and earn cashback.

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Try the Santander calculator. You can read my full Santander Edge review here. Was this helpful? Please note: Santander debit card, chequebook and arranged overdrafts are subject to status. I agree with Gill. Will they still pay interest at this rate even if I have closed down the old current account? For all its benefits, there are some hoops and charges for any would-be customers to be aware of. Andrew Hagger, personal finance expert at MoneyComms says: 'Santander is freshening up it's offering - perhaps partly to try and attract more switchers particularly with the 3. Sush April 29, at pm. If I downgrade to a Lite account, what are the consequences of not logging in every 3 months? Most notably, new customers will be able to earn 3. Lianne October 19, at am. Santander launched its first proper switching bonus in late I switch energy provider frequently well, I did when this was possible and ditched pay TV years ago.

With a selection of current accounts available, you're sure to find the one that's right for you.

Suman September 29, at pm. This fee is non-refundable. Use the table below to check the features of the 1 2 3 Mini Current Account. I used to have an Edge account and this savings account. Alistair Edmondston July 14, at pm. I was going to switch to another bank when they announced the cut in interests but I decided to just downgrade to the Lite instead. Santander kills off its accounts: Bank launches new Edge Up deal offering 3. This includes some changes to when we may not make your payments and when we might block or close your account. Anybody choosing to transfer to a new Santander account will keep all their existing details including account number and sort code. It replaces the Lite account for new customers. On 7 February , we increased the in-credit interest rate for 1I2I3, Select and Private current accounts as shown below. Start your Independent Premium subscription today.