Egg Money

NewToThis_3

This may seem like a silly question to the more experienced, but having 'stoozed' money onto an Egg Money Card, earning 4%, how can I move this money to a higher-paying savings account without incurring any penalties? When I look at the Egg website, it looks as though the money can only be moved to a current account initially, which is fine, but not all of it can be moved. Is there a way round this?

Thanks in advance for any advice.

InMyDreams

I have just transfered almost 6k from my egg money into my egg savings account (from where I intend to move it to an even better account) with no penalty. I simply phoned up the number it throws at you when you look at the 'info about transfering money' or similar tab, then click the appropriate option. I'm pretty sure there is no penalty to withdraw money that is already sitting in the egg money. Only a penalty if it takes the card to less than 0.

Milarky

From the savings account it can be paid to any account from the 'address book' feature.

To make 'instant' withdrawals/transfers of up to £500 direct from Egg Money, you can go to an ATM and pay the cash over the counter of your chosen bank/building society of course - although that may be a little inconvenient. The is no withdrawal fee.

[Just on the transfer to your savings account, is there a minimum amount like £100 or just £1 as it is with savings transfers - and does it appear their the 'next day' only?]

InMyDreams

Milarky wrote:

[Just on the transfer to your savings account, is there a minimum amount like £100 or just £1 as it is with savings transfers - and does it appear their the 'next day' only?]

Hi Milarky,

Was that a question for me? Didn't look if there was a minimum amount (as I was obviously transfering a fair amount!). Yes, it did appear 'next day' or actually, possibly, even the same day. Have just checked my statements and the money on both money and savings is documented for the same day.

IMD