egg BT fee if positive balance?

mpazza

Hi can someone confirm the following for me please.

If I transfer a balance onto my green egg card so it then has a postive balance. I wont be charged a fee when I transfer that money out of egg (to my bank account)

I had an email from egg with a promotional offer which I dont want to use (3.9% with a 2.5% fee). As I am just using the card as a mule for a better deal and I dont want to get stung with this fee as I will not go into debt on the card.

MABLE

I have recently done this and transferred to Egg money and then phoned them to transfer to my bank account. Provided it is a positive balance and does not lead you into negative territory you will not be charged a fee.

mpazza

thanks, time to stooze!

YorkshireBoy

Egg Money card or Egg Card?...they're both green (in colour!).

If it's the Egg Card (Visa), then you WILL be charged a BT fee if you action the BT yourself...even if you don't create a negative balance. See condition 7.2 of your agreement.

You *may* be able to avoid this fee by asking for a BACS transfer (of the positive balance only) with a CSA. However, and depending on the size of the positive balance, you may draw attention to your activities by doing this.

jdavtz

Phone them or secure-message them and ask them. You want/need to be sure.

Doh

YorkshireBoy wrote: »

E
If it's the Egg Card (Visa), then you WILL be charged a BT fee if you action the BT yourself...even if you don't create a negative balance. See condition 7.2 of your agreement.

i assume this is only because theres a offer available, subject to this condition in 7.2:

[FONT=Arial, Helvetica, sans-serif] a handling fee on each Transferred Balance made under a Special Promotion. We will tell you what the fee is when we tell you of the availability of the Special Promotion

if there is no offer on the table then the BT is fee free right? just checking, if not its pretty pointless my having my old Egg Card (VISA)
[/FONT]

YorkshireBoy

Doh wrote: »

i assume this is only because theres a offer available, subject to this condition in 7.2:

[FONT=Arial, Helvetica, sans-serif]a handling fee on each Transferred Balance made under a Special Promotion. We will tell you what the fee is when we tell you of the availability of the Special Promotion[/FONT]

[FONT=Arial, Helvetica, sans-serif]if there is no offer on the table then the BT is fee free right? just checking, if not its pretty pointless my having my old Egg Card (VISA)[/FONT]

I agree with your assumption Doh.

People have been caught out because, although they were out of the introductory period and not in their anniversary month, Egg had placed a 'special offer' (similar to the OP's) on their account and not told them!

The first they knew was when they saw the BT fee had been applied, so it's always best to ring/secure message them and ask first.

sabretoothtigger

egg are listed as a no fee card afaik

Milarky

If you are considering using your Egg card [VISA] as a 'mule' then you should call Egg at the start of the month (Special Promotions all run from '1st' IME) and just ask them: "Is there a special promotion this month?" If they say no then do your transfer sometime in next four weeks and all should be OK - if they say "yes" then you're stuck for the month BUT there is then a near certainty (because of the way these SPs are structured) that there won't be another SP the following month - so then you wait four weeks - check again but should be able to do a bit of muling with high confidence..

This bit looks interesting however:

[FONT=Arial, Helvetica, sans-serif]7.2 We will charge:[/FONT]

[FONT=Arial, Helvetica, sans-serif] a handling fee of 3% of the amount of each Cash Advance (minimum fee £3.00). If you are an Existing Egg Customer, we will not charge a handling fee.
[/FONT]
[FONT=Arial, Helvetica, sans-serif]Existing Egg Customer means (a) an Egg Card holder who has an Egg account or another eligible Egg product and had that account (or product) before applying for a Card and (b) anyone who is permanently employed by Egg Banking plc
[/FONT]

So if you apply for an Egg card having already got an Egg Money or a savings account they appear to waive the fee on ATM withdrawals (some typo surely?)