Egg Savings to Egg Money

Joe_Bloggs

I've recently opened an Egg savings account (6.55% gross) and I was wishing to stash some of my unused positive credit on Egg Money (1% cash back etc.) balance into the savings account. There does not appear to be a way to do this with their online system. Has anyone got to grips with their system ? Would it be popular move if they were able to transfer money between savings and spending accounts ?
J_B.

benf90

Joe_Bloggs wrote: »

I've recently opened an Egg savings account (6.55% gross) and I was wishing to stash some of my unused positive credit on Egg Money (1% cash back etc.) balance into the savings account. There does not appear to be a way to do this with their online system. Has anyone got to grips with their system ? Would it be popular move if they were able to transfer money between savings and spending accounts ?
J_B.

Online you can only transfer money from Egg Savings to Egg Money.

To do this you have to go into Move money > Make a one-off payment and select the savings account in the from box and Egg Money in the to box.

To transfer a credit balance from Egg Money to the Egg Savings account the easiest and quickest way of doing it is to phone them up. It'll take a few days to transfer over though as they have to get some other department to do it.

YorkshireBoy

benf90 wrote: »

To transfer a credit balance from Egg Money to the Egg Savings account the easiest and quickest way of doing it is to phone them up. It'll take a few days to transfer over though as they have to get some other department to do it.

But would you get 6.55% on this money, or only 4.75%? After all, it's not 'new to Egg' money.

To be fair, the T&C's talk of money from an Egg Savings account, not Egg Money, but I'd be checking (and getting a reply in writing) before risking it.

Joe_Bloggs

Benf90, I thank you for you reply and knowledge of the situation.

To transfer a credit balance from Egg Money to the Egg Savings account the easiest and quickest way of doing it is to phone them up. It'll take a few days to transfer over though as they have to get some other department to do it.

[My Rant at Egg]
This should not be the quickest way, given twenty first century banking technology, to transfer money between accounts held by the same bank!
J_B.

In a 21st Century way, deposits made to the Egg Savings account with a debit card are credited instantly!