confusion : The middle route + 'tarting'

lipidicman

Ok, so I have a positive balance on egg now. Can you still get this 2% cashback loophole by balance transferring this out to a savings account (via a current account) ? Can anyone provide more info, or a link?

YorkshireBoy

lipidicman wrote:

Ok, so I have a positive balance on egg now. Can you still get this 2% cashback loophole by balance transferring this out to a savings account (via a current account) ? Can anyone provide more info, or a link?

I don't think you ever got it with a 'BT' did you? I thought you had to ring them up and ask them to do a 'BACS transfer'.

lipidicman

Sorry thats what I meant. So when you ring them up and do a BACs transfer out to your savings account then you qualify for the cashback. Is that the loophole mentioned earlier?

lipidicman

andrew_b6k wrote:

Im also planning to transfer £10,000 savings into the egg money, and get 2% for transferring it out as mentioned on another thread on here.

This was what I was referring to

YorkshireBoy

lipidicman wrote:

Sorry thats what I meant. So when you ring them up and do a BACs transfer out to your savings account then you qualify for the cashback. Is that the loophole mentioned earlier?

I believe it is. However, I've posted before that this would (in my opinion) draw attention - especially if it were a large transaction or several smaller transactions.

As a stoozer, I wouldn't want to lose my Egg card so even if I had an Egg Money card (I don't, I have the Green) I wouldn't be doing what you're proposing.

I've seen posts where people have had their Egg account closed for "unusual" activity.

My suggestion, if you really want to go through with it, would be to try a small BACS transfer to see "if it works", and then take a decision on whether to go for the big one.

lipidicman

Well I have the balance there and I need to move it to a savings account so I can pay back the other card when I need to. 4% is ok, so I could leave it there, but will I be able to pay off my other 0% card directly from egg money? (via a BT, is there a fee here?). In any case I was only going to do this the once and I dont have an egg green, this is my first stooze

YorkshireBoy

lipidicman wrote:

Well I have the balance there and I need to move it to a savings account so I can pay back the other card when I need to. 4% is ok, so I could leave it there, but will I be able to pay off my other 0% card directly from egg money? (via a BT, is there a fee here?). In any case I was only going to do this the once and I dont have an egg green, this is my first stooze

Doesn't look to be a BT fee...

Can I transfer balances to Egg Money?
Yes, you can transfer balances from credit, charge or store cards, loans or overdrafts. There is no charge to make a balance transfer and you can ask us to transfer any amount as long as it’s less than 95% of your available credit limit......

http://www.egg.com/visitor/0,2388,3_79766--View_1709-bID_EMonMovingFAQ-dva_1,00.html#canitransferbalancestoeggmoney?

lipidicman

I hope the 95% isn't enforced when in credit or this will take three goes!

So maybe it is safer to leave the balance with egg. Oh well without egg money I had no SBT card, so its better than nothing. Still that cashback is tempting (can anyone confirm that you get the cashback with a BACs transfer from egg money?)

lipidicman

I really need to know about this loophole as the MSE search feature still appears to be down.

I have two options. Using the online balance transfer and clicking 'overdraft' or phoning up and requesting a bacs transfer. Please, does anyone know if either of these routes is attracting the cashback?

YorkshireBoy

lipidicman wrote:

I really need to know about this loophole as the MSE search feature still appears to be down.

I have two options. Using the online balance transfer and clicking 'overdraft' or phoning up and requesting a bacs transfer. Please, does anyone know if either of these routes is attracting the cashback?

Online (S)BT's don't attract cashback.

Re the BACS transfers, I posted this reply for you last Monday...

My suggestion, if you really want to go through with it, would be to try a small BACS transfer to see "if it works", and then take a decision on whether to go for the big one.

If you had done this, and then checked your account in the secure area, you would have your answer now.

PS: The MSE search feature works for me!