Unknown charges on Egg Card

pmorrison_2

Hi, Ive just checked my Egg statement, I tend not to check it every month, but this time I did. I noticed that there were three charges on there that I dont think should be:

22 Dec 2008 CHARGE FOR CASH ADVANCE £9.32 DR
06 Jan 2009 CHARGE FOR CASH ADVANCE £12.04 DR
13 Jan 2009 CASH INTEREST AT 1.736 PER MONTH £5.69 DR

From the sounds of it they are saying that I have either withdrawn money on the card or gone overdrawn, which I havent. Ive sent a secure message to them to find out what the charges are. Has anyone else had charges like this on their account, and if not, just have a quick check to make sure!

YorkshireBoy

Foreign currency purchase?
Gambling establishment?
Online purchase (given the wrong merchant code)?

At 3%, the two charges would correspond to transaction values of £310.66 and £401.33 - recognise them?

pmorrison_2

Ive not used it abroad, no gambling etc and there are no purchases on there that shouldnt be and nothing not there that should be

MrsTinks

I THINK some cards view certain transactions as cash advances... I could be wrong and it might not apply to Egg either but someone mentioned Car Insurance and also deposits on gambling sites - however I could be totally barking up the wrong tree

YorkshireBoy

pmorrison, did you see my subsequent edit (made as you were posting)?

NickX

MrsTine wrote: »

I THINK some cards view certain transactions as cash advances... I could be wrong and it might not apply to Egg either but someone mentioned Car Insurance and also deposits on gambling sites - however I could be totally barking up the wrong tree

Gambling Transactions including Bingo sites are usually treated as Cash Advances.

As I said on the other thread I have never heard of Car Insurance being treated as Cash Advances.

However there have been reports of certain gift vouchers being treated as Cash Advances.

To the OP, you need to identify which transactions those charges relate to. If you post all the transactions from the statement we may be able to work it out for you.

pmorrison_2

Just realised that I misunderstood YorkshireBoys foreign currency suggestion, I assumed that you meant purchases abroad, but looking at the dates on the charges, they are both the same day s I ordered currency from onlinefx. I never knew that they could charge for these purchases, is it a standard practise? If it was, I would never have used the card in the first place.

NickX

pmorrison wrote: »

they are both the same day s I ordered currency from onlinefx. I never knew that they could charge for these purchases, is it a standard practise? If it was, I would never have used the card in the first place.

Yes that is it, and I'm afraid it is standard practice with Credit Cards.

Best bet now is pay the balance off in full to stop the interest accruing.

TFD_2

pmorrison wrote: »

ordered currency

That'll indeed be a cash advance. Otherwise onlinfx would have to pay a percentage of the transaction as a handling fee, which would be impossible on the tiny margins made in currency sales. I would have thought it would make it clear when the card details were being entered.

CLAPTON

pmorrison wrote: »

Just realised that I misunderstood YorkshireBoys foreign currency suggestion, I assumed that you meant purchases abroad, but looking at the dates on the charges, they are both the same day s I ordered currency from onlinefx. I never knew that they could charge for these purchases, is it a standard practise? If it was, I would never have used the card in the first place.

yes quite common

NickX

TFD wrote: »

I would have thought it would make it clear when the card details were being entered.

Actually I don't think that it is stated on the currency website, but it will be in the cards Terms and Conditions somewhere so they have covered themselves.