Santander is launching a new account offering up to four percent interest plus help with essential bills and spending. The Santander Edge current account and saver means customers can earn up to £20 in cashback and £13.10 in interest per month for a £3 monthly fee.
Santander Bank said its new account has been specifically developed to support customers with today’s economic climate in mind
Enrique Alvarez, Chief Customer Officer, Santander UK commented: “We’re excited to be able to unveil Santander Edge, designed around what we know our customers want from their bank.
“We’ve created a new account to help customers make the most of their money today and save for a better tomorrow.
“Building on our focus on cashback, we will be rewarding them for their essential spending, whether that’s the weekly supermarket shop or travelling to work, and their household bills – particularly relevant given current pressures.”
READ MORE: State pension warning as thousands could miss out on latest pay rise
The bank’s new rewards platform Santander Boosts, which is available to all current account and credit card holders aged 18 and over, offers customers cashback, vouchers, discounts, prize draws, and giveaways all tailored to their individual interests.
Current offers include a £2,500 cash giveaway and £500 eGift cards towards groceries, alongside thousands of other prizes, including instant wins for free hot drinks and breakfasts.
The Edge brand and wider Santander accounts will continue to evolve based on customer feedback, with new features due to launch in the coming months including:
Carbon footprint tracker – tracks customer carbon footprint based on spend and suggests actions to reduce it; and
Smart Budgets – enables customers to set budgets in categories of their choice, such as groceries, and notifies them when they have reached their budget/ limit.
READ MORE: List of conditions and benefits that qualify for free prescriptions
When it comes to savings accounts there is no one-size-fits-all solution and people may be able to get more interest with another savings account.
FirstSave now offers a top interest rate on a one-year fixed account – paying 4.5 percent interest on savings, however there’s a small catch.
Customers need a minimum of £1,000 in savings and can choose to receive interest each month, although they will need to have at least £5,000 to access this feature.
This account has been highlighted as a “top pick” in MoneySavingExpert’s latest weekly newsletter.