In the midst of the ongoing Cost of Living crisis, Santander is stepping up to support customers by offering a highly praised cashback deal. Trusted financial expert Martin Lewis, along with his Money Saving Expert (MSE) team, has applauded Santander’s Edge current account for its valuable perks.
The Santander Edge account delivers 1% cashback on household bills paid by Direct Debit, up to £10 monthly, for a modest £3 monthly fee. This means many households can easily cover the fee and benefit from extra savings. Eligible bills include Council Tax, energy, water, mobile and home phone, broadband, and paid TV subscriptions.
Additionally, the account offers a linked savings option boasting a competitive 6% variable interest rate for a year on balances up to £4,000, putting it among the top easy-access savings accounts currently available.
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Another notable feature is Santander’s debit card, recommended by MSE for overseas spending thanks to its near-perfect exchange rates, making it ideal for travelers.
To qualify for these perks, customers must pay at least £500 per month into their Santander Edge current account (excluding interest and transfers between Santander accounts named on the same account) and maintain at least two active Direct Debits. Cashback payments are capped at £10 each month. However, it’s important to note that cashback excludes payments for TV licences, LPG or Calor gas, maintenance contracts, or commercial usage.
Santander advises potential applicants to review any existing Santander cashback accounts they may hold. Holding multiple cashback accounts could lead to fees outweighing rewards for some customers.
Overall, Santander Edge presents a compelling option for customers looking to gain ongoing cashback on essential household bills, enjoy strong savings interest, and access a reliable debit card for international spending.