Santander Review
Santander is a major UK high street bank offering current accounts, savings, credit cards, mortgages, loans, and insurance. Its current account range is now led by Santander Edge, Santander Edge Up, Santander Edge Explorer, and the fee-free Everyday Current Account, with a focus on cashback, linked savings, mobile banking, and branch support.
Key Features
| FSCS Protection | Yes — up to £120,000 per person, per authorised firm |
| Monthly Fee | Everyday: £0 | Santander Edge: £3 | Santander Edge Up: £5 | Santander Edge Explorer: £17 |
| Branch Network | Santander is moving to a refreshed 305-branch network, plus Santander Local support locations |
| Mobile App Rating | 4.8/5 Apple App Store | around 4.7/5 Google Play |
| Cashback | Santander Edge: 1% cashback on selected household bills, capped at £10 per month |
| Linked Savings | Santander Edge Saver: 6.00% AER/gross variable on balances up to £4,000, including a 12-month bonus |
| Regular Saver | 5.00% AER/gross fixed for 12 months, save up to £200 per month from a Santander current account |
| Overdraft Rate | Representative 39.94% APR/EAR variable on many current accounts |
| Spending Abroad | No Santander debit card fees abroad on Edge accounts; standard accounts may charge 2.95% |
| Apple Pay / Google Pay | Yes — mobile wallet payments supported |
Santander at a Glance
- Santander is best known for cashback-style current accounts. The modern Santander Edge account costs £3 per month, pays 1% cashback on selected household bills up to £10 per month, gives access to the Santander Edge Saver, and does not charge Santander debit card fees abroad. The fee-free Everyday Current Account is the simpler option, while Edge Explorer adds packaged benefits such as travel insurance and breakdown cover for a higher monthly fee.
Santander Services
Santander provides a broad high street banking service: personal current accounts, instant-access and fixed-term savings, cash ISAs, regular savings, credit cards, residential mortgages, personal loans, insurance, mobile banking, online banking, telephone support, and branch services. Its current account range is more cashback-led than many traditional banks, while its Regular Saver and Edge Saver can be useful for customers who already bank with Santander.
✅ Pros
- Santander Edge pays 1% cashback on selected household bills, capped at £10 per month
- Santander Edge costs £3 per month and gives access to the Santander Edge Saver
- Santander Edge Saver pays 6.00% AER/gross variable on balances up to £4,000, including a 12-month bonus rate
- Regular Saver pays 5.00% AER/gross fixed for 12 months, with deposits up to £200 per month
- Everyday Current Account has no monthly account fee
- Santander Edge and Edge Explorer debit cards have no Santander fees for use abroad
- FSCS protected up to £120,000
- Apple Pay, Google Pay, and Samsung Pay supported
- Large UK customer base with branch, telephone, online, and mobile banking support
⚠️ Cons
- Cashback is capped and only applies to eligible categories and qualifying Direct Debits
- Santander Edge has a £3 monthly fee and eligibility requirements, including monthly pay-in and active Direct Debits
- Edge Saver's headline 6.00% AER rate includes a bonus for the first 12 months and only pays interest up to £4,000
- Everyday Current Account debit card spending abroad can attract a 2.95% foreign currency fee
- Arranged overdraft rate is high at 39.94% APR/EAR variable on many accounts
- The branch network is being reduced and reshaped, with more reliance on Santander Local and digital support
- Older 1|2|3-style account benefits are less central for new customers than they used to be
Why We Like Santander
We like Santander for customers who can make practical use of its cashback and linked savings features. The Santander Edge account can work well for people with regular household Direct Debits, especially if they also want no Santander debit card fees abroad and access to the Edge Saver. The Everyday Current Account is a straightforward no-fee option, while Edge Explorer is aimed at customers who want packaged benefits such as travel insurance and breakdown cover.
How We Compare Digital Banks
Compared with other high street banks, Santander's clearest difference is its cashback-led Edge account range. Lloyds focuses more on Club Lloyds lifestyle perks, NatWest has a very strong app and Reward account, while Nationwide stands out for its mutual structure. Santander is strongest for customers who will use household bill cashback, linked savings, and the no-Santander-fee travel benefit on Edge accounts. Customers who simply want a free current account may prefer Santander Everyday or another fee-free high street account, while frequent travellers should compare Edge against digital banks with wider fee-free overseas features.
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Financial Information Disclaimer
The information on this website is provided for general guidance only and may not always reflect the latest fees, rates, or terms offered by each bank. While we do our best to keep content accurate and up-to-date, you should always check the bank's official website or app before applying for an account. Nothing on this site constitutes financial advice.
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