Santander is implementing a significant change for thousands of its current account customers, with a reduction in a key benefit coming into force within hours.
What is Changing with the Santander Edge Up Account?
From Wednesday, December 17, 2025, the bank will lower the interest rate paid on its Santander Edge Up packaged current account. The monthly fee for this account remains at £5. The rate on balances up to £25,000 will fall from 2.5% to 2.1%.
A spokesperson for Santander stated: “We regularly review rates in light of changing market conditions and offer a range of competitive current and savings accounts.”
What Perks Do Account Holders Keep?
Despite the interest rate cut, the Edge Up account continues to offer several valuable features. Customers still receive:
- 1% cashback on selected household bills paid by Direct Debit, capped at £15 per month.
- Fee-free transactions when using the debit card outside the UK.
- Access to in-app money management tools and various discounts.
It is important to note that cashback is not paid on TV licences, LPG or Calor gas, maintenance contracts, or for commercial use.
Requirements to Qualify for Benefits
To receive the cashback and interest, customers must meet two main conditions each month. Firstly, they must pay a minimum of £1,500 into the account. Santander clarifies that interest payments or transfers between the customer's own Santander accounts do not count towards this figure.
Secondly, account holders must maintain at least two active Direct Debits on the Edge Up account.
The bank also highlighted its wider product range, noting: "We offer other current accounts with different overdraft interest rates or without the option for an overdraft facility. We also have different borrowing options, such as credit cards, personal loans, and additional loans for our mortgage customers." Customers are advised to check the full terms and conditions for other potential charges associated with the account.
