SANTANDER is axing a key bank account perk used by millions.
Customers with a Santander Edge or Edge Up account will no longer earn 1% cashback on certain spending from September 9.
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The bank confirmed it’s cutting this perk due to increased costs.
The Santander Edge account currently gives 1% cashback on certain household bills and spending with a debit card on supermarket shopping, fuel, and travel.
This comes with a £3 monthly fee, and cashback is limited to £10 a month.
The Santander Edge Up account, which costs £5 a month, offers a higher cashback limit of £15 a month on both bills and debit card spending.
The categories covered for cashback with the debit card are the same as those for the standard Edge account.
To keep these accounts active, Edge customers must deposit at least £500 a month, while Edge Up customers need to deposit £1,000.
From September 9, customers with either account will no longer earn 1% cashback on supermarket, fuel, or travel spending.
Only the 1% cashback on household bills, such as council tax and utilities, will remain.
A Santander spokesperson said: “We regularly review our products to ensure that we can continue to offer customers long-term value in view of wider market conditions.
“As a result, we have made the decision to remove cashback on supermarket and travel debit card spend on our current accounts from September 9, 2025.
“Customers can continue to benefit from the existing features on the account, including cashback on household bills paid via direct debit and fee-free debit card spending abroad.”
This change will affect both new and existing customers.
Santander is reaching out to account holders to tell them about the updates.
This overhaul of the bank’s cashback offer isn’t the only recent change affecting Santander customers.
On May 12, the bank discontinued five types of text message alerts that helped users monitor their account activity.
What is cashback?
CASHBACK is a type of reward offered by banks, credit card providers, and retailers where customers receive a percentage of their spending back as cash.
Essentially, it’s a way to earn money while making purchases.
For example, if your card offers 1% cashback and you spend £100, you’ll earn £1 back.
Cashback can be credited to your account, deducted from your balance, or saved up for future use, depending on the provider’s terms.
It’s often offered on everyday purchases, such as groceries, fuel, or online shopping, and may be part of a promotional deal or an ongoing benefit of your account.
However, remember to check the terms and conditions, as some transactions may not qualify for cashback rewards.
By using cashback offers wisely, you can usually make your money go further on purchases you’d already be making.
What other card providers offer regular cashback?
Several major banks and lenders offer cashback through their current account or credit card products.
Use these cards wisely and you’ll end up making your money go further with every purchase.
These cards deduct a percentage of what you’ve spent from your balance – effectively giving you money back on your spending.
The Chase debit card is a standout option, offering 1% cashback on most spending (capped at £15 per month).
While there are some exclusions, it’s a straightforward deal, and you only need to pass an ID check to open a new account.
After the first year, you’ll need to pay in £1,500 each month to continue earning cashback.
If you’re considering a credit card, the American Express Cashback Everyday Credit Card is a great option for those expecting a high-spend period.
It offers an impressive 5% cashback on purchases for the first five months (up to £125).
After this introductory period, you can earn up to 1% cashback, but you’ll need to spend over £10,000 annually to qualify for ongoing rewards.
For those who might not meet the £10,000 annual spending threshold, the American Express Cashback Credit Card is another strong choice.
It also offers 5% cashback for the first three months (up to £125), followed by 0.75% cashback on spending up to £10,000 per year and 1.25% above that.
However, this card does come with a £25 annual fee.
If you frequently shop online the Amazon Barclaycard is great for its regular customers.
It offers 1% cashback on Amazon purchases (boosted to 2% during Prime Days and Black Friday) and 0.25% cashback elsewhere (0.5% in the first year).
It also provides an Amazon voucher upon acceptance, usually worth £20.
Think before you borrow
BORROWING sounds like a simple way to help pay bills – but beware falling into debt you cannot pay back.
It’s always vital to ask yourself if you actually need to borrow before committing to a new credit card, personal loan or overdraft.
If you cannot afford to pay off debt you already have, you should avoid at all costs taking on any more.
