Maybe not automatically but they could. The £15 is effectively a fine to discourage people who are not eligible for the account from using it. If you don’t meet the pay in or investment criteria then strictly you are not eligible for the account.
From the Ts & Cs:
To be eligible for this account you must pay in £5,000
or more into the account in any calendar month,
or have at least £100,000 of qualifying savings or
investments with us. We regularly review our accounts
and we’ll let you know if you aren’t meeting the criteria.
No but it does mean they can close or change it though if they want to as by the letter of the terms if you don’t meet either of those criteria then you are not eligible to have the account. If they didn’t want the ability to they may as well have made the terms like the club Lloyds one where you pay the fee if you don’t pay in the amount but it’s not a criteria to have the account whereas with premier they chose to make it a criteria in the terms. Whether they ever enforce it remains to be seen
That’s not true it’s a criteria to have the account at all. I pasted in the exact wording from the terms above. It clearly states it’s a criteria to have the account
No it doesn’t and in practical terms they may do nothing which is fine. I’m just pointing out what the terms say and that based on those terms what they could do if they wanted, I’m not suggesting they do or even will just that they could
I had opened an Edge account due to some cashback offer and switched my Barclays Premier. I wanted to change to the Edge Up and move my salary over, couldn’t do it online, chat suggested going into a branch instead I
Opened a new Edge Up account and got instant 1k overdraft
Downgraded Edge to a Everyday current account
Manage to move a couple of DD over (i.e. the account was recognised by Sky, Plus net etc instantly)
Steps 1 & 2 took 5 minutes tops
Overall really happy with the service, and I really like the app, not crowded like the Monzo one. Once I get paid this month moving everything over to Santander. I’m still keeping Revolut for subscriptions and commuting costs, but I am looking forward to deleting two more banking apps off my phone
Santander are running a promotion to win tickets to the British Grand Prix if you have at least £100 in a current or savings account on the last day of May:
Good catch Carl, just realised like Santander they removed all of their Text alerts other than the overdraft ones. I had a Spend & Save Plus account which I closed before Covid.
I have an issue with Santander app, not sure if it is because I al on iOS beta.
I can’t view personal details or apply for anything in the app, it asks for ID verification that never succeeds. Logging into online banking works fine and can change whatever I want to change with no issues. Chatted with them and they had no idea what was going on.
Not so keen on calling them.
The thing is i have been on betas for so long and this Santander issue started around June last year. It was working fine previous beta. Will try to switch to public release and see if that fixes it
