Egg... Information?

jetfighter

It looks kind of like a pocket calculator. It just provides extra security - when doing transfers, you have to physically put your debit card into the card reader and it displays a code, which you have to input on the website. It just means that someone who knew your PIN would actually have to have your card as well in order to make the transfer.

I have a lot of accounts with different banks but NatWest is the only one I need to use the card reader for.

noh

Squibbler wrote: »

I just found out (by accidentally using the wrong one) that my card reader for Barclays cards works for my Nationwide account cards and vice-versa. I don't think they are bank independant. So you could use one from another account with someone else

You can do that.
The problem with the Tesco account is that most people don't find out that they need a card and a reader until they come to set up the first external payee. They may have a reader from another bank but they don't have a card to use.
A card and reader then has to be requested and this may take a couple of weeks to arrive.

Nigel

Baldur

frames1_uk wrote: »

I really don't know what you're on about with these card readers.... from the link, they are debit card machines (like I used to use to charge customers at work)....? you need one of those to operate your savings account???

For an example, see http://www.nationwide.co.uk/rca/Introduction/why.htm

noh

jetfighter wrote: »

It looks kind of like a pocket calculator. It just provides extra security - when doing transfers, you have to physically put your debit card into the card reader and it displays a code, which you have to input on the website. It just means that someone who knew your PIN would actually have to have your card as well in order to make the transfer.

I have a lot of accounts with different banks but NatWest is the only one I need to use the card reader for.

With me its Natwest, Tesco and Nationwide

frames1_uk

wow, well thanks for the information, I have never ever heard of such a thing!

MimiJane

You also need a pin number of course for these card readers. Yet more security details to remember (which is no bad thing). I for one will not be opening an account with Tesco as they don't make it clear you need one of these readers when you open an account. This has caused loads of hassle for people and makes you wonder what other facts they might not be disclosing.

've also read it's difficult to re-set your password with this account and you can be waiting weeks to have it done (though this is old info. and may have been improved since). Reviews for this account are not good.

OK, so that's a "no" to Tesco ... the search goes on

DavidAC

Does anyone know how long it takes to setup a Tesco Internet Saver account? On the plus side they accept faster payments, in and out I think.

jetfighter

:mad: :mad: :mad: Guess this answers my question about whether the fixed rate account application I made (the day before it was withdrawn) was successful or not:

"I've checked our records again and can't find an application for an Egg Savings Account so we're unable to open this product. Applications made and funded with a debit card payment will usually be opened immediately and confirmed by e-mail. I apologise for any inconvenience caused."

So because I didn't make an initial deposit (I was given the option of doing so or not doing so!) the account wasn't opened and there's no record of it?!

The resulting page said "Your application was successful" (or words to that effect) so this is very disappointing.

:rolleyes:

silps

As Egg is FSA registered, does that mean that our savings with Egg are ring fenced to stay in the UK if anything happened to Citigroup?

frames1_uk

jetfighter wrote: »

:mad: :mad: :mad: Guess this answers my question about whether the fixed rate account application I made (the day before it was withdrawn) was successful or not:

"I've checked our records again and can't find an application for an Egg Savings Account so we're unable to open this product. Applications made and funded with a debit card payment will usually be opened immediately and confirmed by e-mail. I apologise for any inconvenience caused."

So because I didn't make an initial deposit (I was given the option of doing so or not doing so!) the account wasn't opened and there's no record of it?!

The resulting page said "Your application was successful" (or words to that effect) so this is very disappointing.

:rolleyes:

I put £1 in the Egg fixed rate, but now I've opened a B&B 1 year fix at 6.7%, which is better than Egg, just waiting for my BACS from Icici, so I can then send B&B a cheque.