Egg Money - Savings Guarantee

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Does anyone know - is money "saved" in an egg money card protected by the £50,000 bank guarantee scheme?

I guess it probably is, because Egg have a banking license and operate savings accounts, but does anyone know for sure?

Comments

  • seeya23
    seeya23 Posts: 2,330 Forumite
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    yes it is protected by the £50,000 bank guarantee scheme
  • anotherpaul_2
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    I presume that in asking this question you have a large sum of money 'invested' I only ask as I asked the following on another thread but as yet have had no replies.
    I don't (or even have a card, unfortuntately), but I didn't know the answer and I didn't see that anyone had asked it before. Since Egg Money is unusual, I thought it was worth asking - before you and lots of other people are tempted to do this and get burnt. ;)

    In this case, I wasn't asking the question for my benefit.
  • DeepSporran
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    From Egg Money help screens:

    What is the maximum positive balance I can have in Egg Money?
    The maximum positive balance allowed is £99,999.99.
  • noh
    noh Posts: 5,804 Forumite
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    I don't (or even have a card, unfortuntately), but I didn't know the answer and I didn't see that anyone had asked it before. Since Egg Money is unusual, I thought it was worth asking - before you and lots of other people are tempted to do this and get burnt. ;)

    In this case, I wasn't asking the question for my benefit.

    Thread asking same question here:- http://forums.moneysavingexpert.com/showthread.html?p=18472945

    To answer the question from mini_cooper
    The maximum positive balance allowed on an egg money card is £99999.99 Edit: already answered above

    I can't give you a link to confirm this as all the T+Cs and FAQs relating to the egg money card are no longer available on the web site.
    Edit: The FAQs are available if you are logged in and already have an egg money card.
    Nigel
  • anotherpaul_2
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    noh wrote: »
    Ah, thanks. I did search and didn't find it. Cheers.
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