For customers with Edge accounts, Santander eliminates 1% cashback on purchases

Santander will restrict cashback to bills and cease giving Edge customers cashback on regular purchases

Customers of Santander Edge will no longer receive 1% cashback on their purchases of groceries, gas, and travel expenses as of September 9.

Customers who pay with direct debit and have Santander Edge Up or Edge current accounts will only be eligible for 1% cashback on specific household bills.

Currently, Edge Up customers can claim up to 30 cashback per month, split between bills and everyday spending, while Santander Edge customers can claim up to 20 cashback per month, split between bills and everyday spending.

The new changes will limit Edge Up customers to 15 cashbacks per month and Edge customers to only 10 cashbacks per month on bills.

Customers who wish to keep their Santanders Edge and Edge Up accounts must pay a monthly fee. Edge costs three dollars a month, while Edge Up costs five.

The cutback follows Chase Bank's decision to lower its cashback offer on all debit card purchases to just 1% for fuel, daily transportation, and groceries in the UK.

Customers who value benefits from their banks will find the Santander Edge account less appealing due to the reduced cashback.

An alluring savings account with an interest rate of 6% AER variable (including a 2 percent boost for the first 12 months) is available to Santander Edge customers on balances up to £4,000.

One of the accounts with the greatest savings rates available at the moment is the Santander Edge Saver. Nonetheless, it would be prudent for savers to determine whether the interest they will receive on their account balance will surpass the three or five monthly account fee.

Additionally, Santander is terminating its current 123 Lite account.

Customers will be switched to the Everyday current account (which does not offer cashback) on August 21. The account currently costs £2 per month and offers up to 3% cashback on bills.

On what will Santander Edge customers continue to receive cashback?

Santander Edge customers will still be able to receive cashback on certain purchases, but cashback on groceries, travel, and gas will be eliminated as of September 9.

Customers will still be able to earn cashback on most of their household bills, including:

Most major suppliers offer cashback on broadband, paid TV, council tax, energy, mobile phones, and landlines, but not all of them are covered. For complete information, visit the Santanders website if you are unsure.

What will be the sources of cashback that Santander Edge customers cannot receive?

Customers of Santander Edge and Edge Up are eligible to receive cashback on a variety of regular expenses until the regulations change in September.

When you spend money on:, the bank gives you cashback.

The cashback restriction will take effect on September 9th, but customers can still take advantage of the offer until then. Supermarkets, Trains, Buses, Electric Vehicle charging, and more.