Egg Savings: their service

anna42hmr

cottager wrote: »

For your overall query, you would probably now be better starting a new thread on the board for more thoughts from others. This one began as a specific Egg comment and your details are rather 'buried away' under a topic title which quite likely won't be read by many.

Good luck!

thanks thats a good point, i have just done that

LesU

cottager wrote: »

Had to mention one of the most impressive and painless 'business' phone calls I've had in I don't know how long!

I've had a modest amount languishing in an Egg Savings account for literally years -- nothing added, nothing withdrawn, almost forgotten. Happened to check the interest rate yesterday and noticed it had taken a dive recently, so decided to close it.

Rang at about 6.15 this am (never called them before) and TBH expected the 5th degree and to 'do battle' -- why do you want to close, have you thought of this, and the typical sales pitch. Went through the auto-checks, all very efficient, chose the closure option at the end and got through to a very cheery (considering the time of the morning) and charming lady who from the auto-checks already knew what I wanted and who I was, put up none of the expected 'resistance' but just handled the matter in a helpful, willing and extremely efficient manner, checked where I wanted the money sent to then reeled off the account details to me for confirmation, and finished up by saying the payment would go out Monday and be in my account Wednesday. Job done, probably less than 2 mins.

If that sort of service and attitude is typical, and if it wasn't for the poor-ish rate, I'm almost sorry to leave them. Credit where it's due -- this was a really pleasant surprise. Well done, Egg!

Are you sure that your account is closed? I have been trying to leave them for years and never succeeded. I gave up and opened a new savings account with them and stuck some more money in. They may say your account is closed, but if you bring up Egg's web page in a year's time and try to log in to your account, you will get in. You won't have any accounts to be seen, but you can alter your details, open a new account etc etc. They are the only bank I have ever dealt with, that refuses to take me off their system.

Lokolo

But your accounts were closed...?

johnoz

You should find, when logging in using Egg Money Manager, that the final entry is "you have n closed accounts".

You can indeed gain access to them, as they are kept as historical records of your transactions, but you should find that you cannot add to or take from them, and they do not appear when you access the deposits and withdrawals options.

cottager

LesU wrote: »

Are you sure that your account is closed? I have been trying to leave them for years and never succeeded.

Well, I took them at their word it was -- will try and remember to check in a couple of years! Very odd.
I could imagine your login details maybe hanging around on the system and be 'in use' if someone else coincidentally went for the same username or password, but not that you could still log in.

LesU

cottager wrote: »

Well, I took them at their word it was -- will try and remember to check in a couple of years! Very odd.
I could imagine your login details maybe hanging around on the system and be 'in use' if someone else coincidentally went for the same username or password, but not that you could still log in.

My accounts were indeed all closed, because I intended to move onto another savings institution. However, every other on-line savings company I have ever dealt with, and I have gone through maybe 9 or 10 in the last 15 years, have shut down my online access after I closed all of my accounts with them. If I'd tried to log-in the month after, I would have been refused entry. Not so Egg, after several fruitless attempts to force them to take me off the system, I gave up, changed some of my on line details to incorrect entries in case anyone hacked in and used them and moved on.
That was nearly 5 years ago. Last month I was trying to spread my savings around and opening new accounts is time consuming. So I thought, I wonder if I can go back into my Egg on-line access and open up a new savings account.
I had a new savings account within 15 minutes! Of course I've changed my details back to their correct settings now I am a real customer again.

pamish

I caught the fixed rate Egg saver at 6.something on drop-day. Also have an Eggsave a/c at 6.55% fixed. The Eggsave a/c shows up OK and lists the £1500 transferred to the fixed bond, but that account has been blanked since it was opened - "we cannot show details". As Egg is owned by Citibank which is - um - struggling, am I hitting another iceberg? Egg claim their acs are FCS guarateed I'm not too worried but what have others found?

apt

Pamish the 6.55% is not fixed. It's now a lot less than the 6.3% fixed account. But if you want to move money you have in elsewhere in Egg to the 6.3% you must do it via an external account not an internal transfer.

pamish

@ apt - !!!!!!. I misread this. But I'm sure on the day it said fixed rate.

Never mind, at least I have a job and money to save, even at 1%.

Egg Savings Account (Internet) (with introductory rate offer) interest rates.

Accounts opened between the dates below received an introductory variable offer rate as specified from the date the account was opened. After this period the variable Egg Savings Account (Internet) rate is payable. Please see relevant table below for rates.

Date Interest rate paid monthly paid annually Accounts opened between 11 October 2008 - 7 November 2008

On balances up to £100,000 - 6.55% gross pa/AER (variable) for first twelve months (includes 12 month variable bonus rate of 1.80% gross pa from the date the account is opened).

pamish

I opened mine on 9th October (with £1...) and at that point it was fixed. :T

'Egg Savings Account (Internet) introductory rate (for accounts opened between 8 May and 10 October 2008)
6.30% gross pa/AER fixed for 12 months'

Should always print off the web pages as a supersticious measure, in case they dont publish this archive info.


Still no sign of the fixed bond on my a/c list, but it shows the transfer out from the saver ac. So my memory of shuffling ££ that day is about the bond, not the savings a/c.