Egg Money - a question

-monky-

Evening all.

I have been reading up with interest (no pun intended!) on Egg Money. It seems like a pretty good idea, and I'm on board right up to the point where you have a "debt" at 0% on Card X and a whopping credit on your Egg Money card, earning you 4%. nice.

OK.

So what happens now? Of course, I am earning 4% on it. But in the future I might have questions:

1) Can I get more than 4% by moving the funds again? What I mean is this: is it possible to transfer any credit on your Egg Money card to a "normal" bank account via BACS? If so, is this free of charge? (ie is this an extended way of getting a SBT?)

2) In X months time, the "debt" on Card X at 0% needs to be repaid. The credit on Egg Money covers this, but how can I use it? (Don't Egg charge a percentage fee to balance transfer back to Card X?)

YorkshireBoy

-monky- wrote:

1) Can I get more than 4% by moving the funds again? What I mean is this: is it possible to transfer any credit on your Egg Money card to a "normal" bank account via BACS? If so, is this free of charge? (ie is this an extended way of getting a SBT?)

In order, yes, yes, & yes! See the Egg FAQ...

http://www.egg.com/visitor/0,,3_79766--View_1709,00.html

-monky- wrote:

2) In X months time, the "debt" on Card X at 0% needs to be repaid. The credit on Egg Money covers this, but how can I use it? (Don't Egg charge a percentage fee to balance transfer back to Card X?)

BACS transfer from Egg to card X, or take out card Y to repay card X.

-monky-

ooooh goody!

ta for the link, i've been trying to get that info from Egg's website but couldnt find it anywhere

i think Egg Money is gonna turn out to be quite "useful" :-P