Santander is now paying customers free £233 - but you need £4,000 in account
Santander is offering a free £233 in interest to customers who hold £4,000 in an Edge Saver account. This comes as the bank launches a new free £36 offer for its customers and account holders nationwide, amid the ongoing Cost of Living crisis.
The £36 is a one-off payment that will be paid directly into the eligible Santander Edge current account within 60 days of opening. Customers will continue to pay the £3 monthly fee to maintain the account.
To benefit from earning monthly cashback, customers must deposit £500 a month and have two active direct debits. The £233.60 annual interest is based on £4,000 held in the Edge Saver for 12 months from opening at 6.00% AER / 5.84% gross (variable).
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This includes the 1.50% AER / 1.49% gross (variable) bonus rate which applies for the first 12 months from opening. Santander's Edge current account offers a range of features designed to help customers stretch their money further.
These include up to £20 monthly cashback. This includes up to £10 cashback from council tax, broadband, and mobile phone bills paid by direct debit - along with a further £10 cashback from essential debit card spending at supermarkets and on travel, including fuel and train tickets, reports Birmingham Live.
The account also allows customers to enjoy fee-free spending abroad when using their Santander Edge debit card, free use of Santander ATMs overseas and in-app money management insights through My Money Manager.
As of 30 June 2024, the bank employed approximately 19,600 staff and catered to around 14 million active customers. This includes 7 million digital customers through a nationwide network of 444 branches, as well as telephone, mobile and online banking.
Santander UK is fully supervised by the FCA and the PRA in the UK. Furthermore, eligible deposits made by Santander UK plc customers are protected by the FSCS in the UK.