Egg announces....

Lynt_3

~Chameleon~ wrote: »

I've just had a very horrible thought! :eek:

What if they decide to stop any further deposits being made into the fixed 6.3% account? _pale_

:eek: Oo I hadn't thought of that.
Just transferred some money in, yesterday, and planning to transfer more in a day or two. Best be quick then, just in case! :eek:


(goes and lies down in a dark room)_pale_

Sam37

It would look very bad on them if they did it, I think.

I'd be quited miffed. I've first filled up my ISA, thinking I still have time to use this one. I'd not have made the same choices if they wouldn't have offfered this product. I am sure I'm not the only one.

I don't think that is the reason for the delay though. They could now have come out with a new variable account, and made any other changes later.

~Chameleon~

I've been thinking some more about this and yes, it could be a possibility that they stop any further deposits into the account, but surely they won't be able to "hold" the money already in there until the fixed rate expires???

I am starting to get seriously worried as all my stoozing money is held in this account so I'll need to be able to make periodic withdrawals before the rate ends as I'm not confident I'll be able to get any new BT cards the way things are going _pale_

I'm also hoping to stash my Icesave money in there until I decide what to do with it too.

Lynt_3

This is beginning to freak me out.
I didn't go with the Coventry Poppy Bond, because I had the Egg fixed, and could carry on adding to it, and withdraw when I need to.
Surely they can't change the rules just like that!

YorkshireBoy

~Chameleon~ wrote: »

I am starting to get seriously worried as all my stoozing money is held in this account...

It's easy for me to say "stop fretting" because I wasn't caught up in the Icelandic debacle...thankfully.

So, if it makes you feel better, I have my £10K A&L overdraft stooz in my Egg 6.30% account. As you will know, overdrafts are repayable on demand...and I'm not concerned at all by Egg's removal of their savings page - even though Citigroup's shares fell by over 10% at one stage today. Oh no!!! Now I've made things worse!

Mr_K

You don't scare me Yorkshire Boy ! I'm getting 35k out of B&B pronto by CHAPS,
and shoving it into my 6.3% Egg Account. :cool:

YorkshireBoy

Mr_K wrote: »

I'm getting 35k out of B&B pronto by CHAPS,
and shoving it into my 6.3% Egg Account. :cool:

You'll lose money with CHAPS won't you?

Why not BACS it to your nominated current account and deposit with Egg via debit card? Should only lose 2 days interest (£12 gross?). How much is the CHAPS transfer?

Mr_K

YorkshireBoy wrote: »

You'll lose money with CHAPS won't you?

Why not BACS it to your nominated current account and deposit with Egg via debit card? Should only lose 2 days interest (£12 gross?). How much is the CHAPS transfer?

Not much in it I reckon. CHAPS will be £20 and I always use my debit card to deposit into Egg so it could all be done tomorrow.
£35k still takes 3/4 days between accounts via Bacs and the interest lost would be about £5 a day.
Plus the paranoia in here about them not letting any more deposits (which of course I've ignored .:rolleyes: )

Then again Citigroups shares are currently down 12% today ...
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/2/15627/intraday.stm
Maybe I'll have another glass of wine and think about it...

YorkshireBoy

Mr_K wrote: »

Not much in it I reckon. CHAPS will be £20 and I always use my debit card to deposit into Egg so it could all be done tomorrow.

You know you can CHAPS straight into your Egg Savings account?...unless the CHAPS transfers have to go to the same nominated account? Just be careful to check their FAQ page first, because you need to use different details from those used for BACS.

£35k still takes 3/4 days between accounts via Bacs

Really? Are you saying a transfer initiated on Monday morning wouldn't arrive as cleared (for onward transfer by debit card) funds on Wednesday...meaning you would only lose interest for Monday/Tuesday?

sabretoothtigger

They staging a small recovery now