Egg

Lynt_3

They seem to be taking a long time to decide what they are going to do about their savings accounts.

Milarky

As long as you have a fixed rate account you are OK. Access to existing accounts seems unaffected.

Lynt_3

I am lucky to have the 6.3 fixed for a year.
Was just wondering what they're up to. Message been the same for a few days now.
I hope they haven't run off with my money!

You

That 6.3% fixed easy access account is looking like it may cause them a real headache. As I understand it, as long as it was opened by 10 October even money added today will get 6.3% interest (until the anniversary of account opening)! If that is so, they will see quite a mass movement of funds in from anyone with that account. Have I misread the terms?

notverymerrywidow

Mmmmm. I have some ( not a lot) in both the 6.3% fixed and the later 6.55% variable.

Wonder if I can transfer all back to the 6.3, or have to shuffle it back to nom a/c first, so as not to fall foul of the 'new money' clause??

Doin' my head in.

notverymerrywidow

PS - hi lynt. Hope you and Pearl OK today :-)

Luv, A x

Mr_K

I took the opportunity to open to open the 6.3% accounts for both myself and wife. So we can have £100k instant access at fixed 6.3% ,fully protected for the year. Probably the best financial decision I've ever made. I think Egg are really nice people.....

YorkshireBoy

notverymerrywidow wrote: »

Wonder if I can transfer all back to the 6.3, or have to shuffle it back to nom a/c first, so as not to fall foul of the 'new money' clause??

Check your T&C's but I believe they say they won't pay 6.3% on money transferred from an account opened BEFORE the 6.3% account was opened.

Since you've clearly opened the 6.55% account AFTER the 6.3% account, it is *new to Egg* money since the 6.3% account was opened so you should be OK.

I'd be clarifying it with them via secure message to be certain though (don't forget to save/print the reply because it will be deleted after 90 days).

If you use the board's forum search facility you'll find previous discussion on this very subject.

notverymerrywidow

Thanks for the sound advice, Yorkshireboy :T

Will do as you suggest.

hap123ciu

Will money transfered from Egg Money account be "new money to Egg" ?

Lychee

YorkshireBoy wrote: »

Check your T&C's but I believe they say they won't pay 6.3% on money transferred from an account opened BEFORE the 6.3% account was opened.

Since you've clearly opened the 6.55% account AFTER the 6.3% account, it is *new to Egg* money since the 6.3% account was opened so you should be OK.

I'd be clarifying it with them via secure message to be certain though (don't forget to save/print the reply because it will be deleted after 90 days).

hiya, I was just wondering if Egg have got back to you on this? Thanks