Santander launches new savings account offering £30 a month plus 3.5% interest rate | Personal Finance | Finance

The new Santander Edge Up current account launched today, offering customers the ability to earn over £100 a month with up to £30 in cashback.

Cashback can be earned on selected monthly bills (up to £15 a month) and essential spending (up to £15 a month).

Customers will be able to experience a range of benefits from cashback on essential bills and spending, to interest on their current account balance for a £5 monthly fee.

‌Edge Up follows the launch of the Santander Edge current account last autumn.

The account offers customers the ability to earn over £100 a month with up to £30 in cashback and up to £71.77 in interest.

A minimum of £1,500 must be paid in the account each month with two direct debits to benefit from the cashback and interest features.

The account can be opened online, over phone, or in branch.

Individuals can use Santander’s new online calculator to help compare which Santander current account is best for them. The calculator also compares Santander Edge current accounts to 1|2|3 accounts.

‌Andrea Melville, director for personal current accounts and savings at Santander UK said: “We know many people are experiencing financial pressures at the moment with the increased cost of the weekly food shop, high energy costs, and other bills going up.

“Our new Edge Up Current Account is all about making it easier for our customers to make the most of their everyday spending and help them make their finances stretch a little bit further.

‌“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.”

Holders of the Santander Edge Current Account, which launched last November, will also benefit from no fees on debit card use aboard from today.

For more information, people can get the details of the Santander Edge Current Account on the Santander’s website.

The bank is also launching a new Private Current Account offering customers the benefit of all the Edge Up features alongside the continued support of a personal private banking contact.

With the introduction of Edge Up and new Private current accounts, Santander has also announced that the existing 1|2|3, Select, and Private current accounts are being removed from sale today.

Anyone who already has a 1|2|3, Select, or Private Current Account can choose if they’d like to retain their existing account or transfer to an Edge Up account.

Anybody choosing to transfer will keep all their existing details including their account number and sort code. The 1|2|3 Student and 1|2|3 Mini accounts will remain on sale.

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