Trouble at Egg?

Milarky

I'm just reading the Terms and conditions for Egg Money w.e.f. 4 September 2008 after receiving an email from them and it looks like charges will apply for the first time to

Balance transfers (3% unless advised otherwise)

Cash withdrawals (3%, £3 minimum)

both hitherto fee-free..

See http://new.egg.com/visitor/0,,3_107468--View_2282,00.html

7.2 We will charge:

• £2 for any payment to the account other than by direct bank transfer (using the Faster Payments Service, BACS or CHAPS), Direct Debit, debit card, or transfer from an Egg Savings Account;
• a handling fee of 3% of the amount of each Cash Advance (minimum fee £3.00);
• a handling fee of 3% on each Transferred Balance, or less if we tell you so;
• 2.95% commission on all Transactions which have to be converted into sterling (see Condition 9.2 of the Egg Money Conditions);
• £2 for each paper statement;
• if you ask us for any non-standard service, an amount which we will tell you before we provide the service; and
• a top-up fee where the amount of interest charged to your Account on any statement is less than 50p and the fee will be the amount required to make the top-up fee plus that interest equal to 50p.

This still leaves the option of a 'transfer' to savings - for 0% transfers put onto the card as I see it, but I will await other discoveries

[FONT=Arial, Helvetica, sans-serif]8[/FONT][FONT=Arial, Helvetica, sans-serif] In this Agreement:[/FONT]
[FONT=Arial, Helvetica, sans-serif]Transferred Balance means the amount you owe us on any sum you transferred to us under Condition 9.3.[/FONT]

Ergo, positive balances transferred to current account (etc) still attract no fee..[phew!]

sicker

Another bit of not so bad news, my reply regarding withdrawels from a positive balance:-

Date05 Aug 2008 Time15:47 Subjectcash withdrawelsDear JohnIf your Egg Money account is £600.00 in credit and you withdraw £500.00 there's no charges.Thanks for your message.RegardsPatricia FairhurstInternet Customer Services