Egg savings

Wibble

Lokolo wrote: »

Wibble - the t&c say you cannot put money from original savings into fixed. how did you do it?

I didn't transfer any from my other Egg account - I just went to Egg's home page, followed the prompts to open the 6.3% account, entered a few pages of info, then transferred in £50 (using a debit card) to get it going and it was immediately set up.

I'll transfer more money into it once my transfer from Kaupthing Edge appears in my current account - I'll not be transferring any from my other Egg savings account. I'll close that one down, as I don't need it now!

If you're wanting to transfer money from your existing Egg savings account to a new one then you may need to transfer it to a 3rd account then into the new Egg account.

Lynt_3

Just open the new account, and transfer money straight over, from old account. That's what I did. No need to use debit card.

following, is message from Egg, when I enquired.

"You can apply for the new Introductory Internet Only savings account from our website www.egg.com. You'll need to apply as an existing customer and follow the application through."

opinions4u

I've been opening a new 'option' once a month since May - this will allow me to effectively stretch my year fixed at 6.3% to a 17 month period (May 08 to Oct 09) even if they pull the product soon!!

beaujolais-nouveau

Lynt wrote: »

Good to hear others are 'relaxed' about Egg (citigroup)
... Some very large US financial institutions are/have been in trouble. Hopefully citigroup won't suffer same.

I've been with Egg for a number of years, too, but I have recently reduced the amount in my savings account after reading about how much trouble Citigroup has been in for at least the past year.

If you want to make an informed decision, you'll have to do more than just ask other people on MSE. Google

citigroup trouble

guli

opinions4u wrote: »

I've been opening a new 'option' once a month since May - this will allow me to effectively stretch my year fixed at 6.3% to a 17 month period (May 08 to Oct 09) even if they pull the product soon!!

You shouldn't do that

[FONT=Arial, Helvetica, sans-serif]11. During the Introductory Offer Period only one Account in your sole name may be opened, but you may open any number of joint Accounts with another party or parties provided the joint account holders are different to other joint account holders of accounts to which you are a party.

http://new.egg.com/visitor/0,,3_62179--View_149,00.html
[/FONT]

monkeyspanner

See this link for more background info:
http://www.answers.com/topic/citigroup-inc

Appears they have approx $45Billion of the toxic debt so will be taking a fair slice of GWB's $700+ Billion bail out fund. They are in some sort of court case about taking over Wachovia.

They do appear to have their own and separate UK FSA registration for EGG FSA No: 205621 so it appears the full £50k compensation would apply. If anyone knows anything to the contrary please correct me.

I got a bit unsettled last night as we couldn't access our account online but it appears to be ok today.

Lynt_3

Just when I thought it was safe to go back in the water!

margaretclare

beaujolais-nouveau wrote: »

I've been with Egg for a number of years, too, but I have recently reduced the amount in my savings account after reading about how much trouble Citigroup has been in for at least the past year.

If you want to make an informed decision, you'll have to do more than just ask other people on MSE. Google

citigroup trouble

Thanks for this. In fact, I've already done a bit more research before coming back on here. In response to 'they're one of the biggest - if they're in trouble we're all in trouble...' the same could have been said for Lehman Bros a couple of weeks ago.

I've decided to 'run for home', to go with what is known, familiar, tried-and-tested. All my savings are now with the Yorkshire Building Society, my e-ISA and then an Internet Saver which I've just opened. No more foreign banks of whatever nationality, no matter how big!

Lynt_3

...................
:eek: