egg money mastercard as savings account 4% ?

mking007

anyone use there egg money mastercard account for savings ??

they pay 4% on postive balances ! (to my knowlegde its always been this)
im with ingdirect and they are only paying 3.5% and thats a promotion.

is it monthly or anually added to yr account, the interested ?

joface

hi, i've just started using my egg money as a savings account for this same reason.

according to the t&c's they pay the interest monthly, calculated on your daily balance so if you use your egg money card for purchases then you will technically be spending your savings (although you will still get the 1% cashback on purchases).

also, you can't do a quick withdraw/transfer online like you can with other internet based savings but you can withdraw £500 in cash from a cashpoint per day or i believe they also allow you to request a transfer to your bank via the secure message facility.

all in all its a good way of getting 4%!

Reaper

mking007 wrote: »

anyone use there egg money mastercard account for savings ??

Try doing a search, the forum is awash with threads discussing it.