Santander Edge - Stopping cash back on debit card

[wiggydiggy]

Just had notification that from September the cashback for debit card spending on the Santander Edge Current Acccount will be stopping, a shame as between that and the DD cashback I easily made back the account fee every month. Don't think I'll be changing bank accounts as its still pretty good, but I will be pivating my spending onto a credit card that does cashback from September (and making sure to pay it back in full of course!). Only disadvatage is that cashback comes yearly not monthly.

 

[fossyant]

Lloyds do cash back on certain retailers, and that changes. The only one I use is Morrisons for my shops, but it's an occasional 'cashback', not something that's on regular. You also have to select the benefit, so it means checking the app offers on a frequent basis.

 

[wiggydiggy]

Is that through Club Lloyds? That's £11.50 p/month so nearly 4 times the price of the Edge! I'm rarely at Morrisons though, Aldi is my goto shop these days and one I'd spend most at.

 

[Jenkins]

I've not had cashback on debit card spending with Santander (old basic Edge account), but do get the cashback on the direct debits for some bills which more than covers the £2 charge per month.

Chase have also massively reduced their cashback incentive - initially it was 1% on everything as long as you paid in £500 per month, then it became a minimum of £1500 paid in to get cashback, now it's £1500 paid in and cashback only on groceries, transport & fuel for existing customers

 

[wiggydiggy]

Yeah that Chase account did come up as a possible alternative but restricting cashback isn't ideal. I've opened one as an experiment to use as a purely groceries/transport/fuel card.

The £1500 pay in is awkward but mangeable if I transfer in that amount, then take back out everything I'm not planning on spending on groceries/transport/fuel.

It'll need a bit more money management on my part but lets see how it goes.

 

[fossyant]

Is that through Club Lloyds? That's £11.50 p/month so nearly 4 times the price of the Edge! I'm rarely at Morrisons though, Aldi is my goto shop these days and one I'd spend most at.

Yes, but, you get phone insurance, worldwide travel insurance and AA Home relay. AA alone was coming in at £40 a month. It covers family, and my son's used it twice since moving over.

Aldi is our main shop, although I now get 4% off shopping vouchers for Morrisons through work so it adds up.

 

[wiggydiggy]

Yes, but, you get phone insurance, worldwide travel insurance and AA Home relay. AA alone was coming in at £40 a month. It covers family, and my son's used it twice since moving over.

Aldi is our main shop, although I now get 4% off shopping vouchers for Morrisons through work so it adds up.

If I didn't already have AA through my car insurance thats a good perk, though the travel insurance wouldn't cover a relative due to age so we'd still need another policy. Couple of other providers offer none age limited accounts so one to consider for the future.