Egg rate cuts

apt

I don't think my post was asking for more. Indeed, if Egg Money were open to new customers Egg would be swamped with applications on the terms it currently offers. But quite a few Egg Money customers will also have opened the Egg 6.3% fixed rate account. They would be better off, like me, to keep Egg Money as a credit card paying off the full balance each month at least until the 6.3% rate expires.

caveman38

apt wrote: »

I don't think my post was asking for more. Indeed, if Egg Money were open to new customers Egg would be swamped with applications on the terms it currently offers. But quite a few Egg Money customers will also have opened the Egg 6.3% fixed rate account. They would be better off, like me, to keep Egg Money as a credit card paying off the full balance each month at least until the 6.3% rate expires.

Yes, I agree. Unfortunately I failed to take up on the ES 6.3% FR account. Why I don't know, I saw it and ignored it. I still ask myself why - p**t

No_6

Egg 6.3% until July 09
Egg Money card 1% cash back on spends
2% cash back on Shell fuel
Egg money manager to instantly view all my accounts

:-0 6

Lokolo

No_6 wrote: »

Egg 6.3% until July 09
Egg Money card 1% cash back on spends
2% cash back on Shell fuel
Egg money manager to instantly view all my accounts

:-0 6

If Carlsberg did banks....

unhealthyman

Lokolo wrote: »

If Carlsberg did banks....

To be fair - not far from the truth. Problem being that it's almost too good to be true. I've been really pleased with everything I've got from egg so far, so I'm just (pessimistically) expecting a catch somewhere. They've been good on service, the online system works very nicely and it helps me manage all my other accounts. That and I've got a painless 1% on all purchases on my Money card and never paid off less than the full amount, so if I can also use it for savings then it is the one stop shop for happiness.

withnell

apt wrote: »

the combination of 4% interest, free cash withdrawals and at least 1% cashback on purchases is attractive.

I didn't think cash withdrawals were free any more on Egg Money if in negative balance - when i had a look at my T&Cs the other day to see what the rate is now, it had a fee for cash advances.

jayell

Can any one help please. I have an EGG savings account but which one -

Egg Savings Account (Internet) (with introductory rate offer)

Egg Savings Account (standard)

Egg Savings Account (investor)

Egg Savings Account (Internet)

how can you tell?
the rates vary wildly

Also how do you know when the introductory thing has run out?
the site is not exactly user friendly

thanks

WaltD

withnell wrote: »

I didn't think cash withdrawals were free any more on Egg Money if in negative balance - when i had a look at my T&Cs the other day to see what the rate is now, it had a fee for cash advances.

Ooo-er! I've just put £15k into my Egg Money account to get the 4% AER interest. They wouldn't charge me a fee to make withdrawals of cash from that positive balance?

Would they?
:rolleyes:

WaltD

mary

You are withdrawing your own money. It would be different if you were using theirs.

YorkshireBoy

WaltD wrote: »

They wouldn't charge me a fee to make withdrawals of cash from that positive balance?

There won't be a problem if you're withdrawing small amounts from a large positive balance. However, there could be complications if any withdrawal *creates* a negative balance because such a transaction is likely to incur a fee (and interest).

Be particularly aware of the time lag between transaction dates and posting dates, ie there could be 2-3 days between the two. Be sure to allow for any purchase transactions made, but yet to be posted, when calculating how much you can withdraw.

Similarly, and from a stoozing perspective which is where my experience comes from, it's good practice to stop using the card for purchases for 2-3 days before a planned withdrawal from Egg Money. This is because these purchase transactions may be posted before the cash withdrawal (especially if making a BACS request by secure message) and so a fee & interest may be incurred if you're withdrawing the entire positive balance.