Free Cash Loophole for ALL Egg card customers

ceivegz

auditor6 wrote: »

Can anyone explain the quickest way to get the money in and out this euro account without suffering any conversion charges etc

You have three accounts which you can view and manage from the same login session. One in £, one in € and the other in $. You simply transfer money from one account to the other and it's instant (you're told the value of your transfer before you confirm it).

If I'm going to Europe for a weekend I can, say for example, transfer £500 into my € account so that I have €580 (not based on actual rates) to spend on my Citibank debit card (which I then ask Citibank customer services to link to my Euro account until the date of my return). When I go away I spend €400, so the €180 I have left I simply transfer back into my £ account for next time. Much easier than it sounds and definitely easier and cheaper than the changing cash elsewhere (also a lot safer than carrying ALL of your holiday money in your purse as you can withdraw money as and when you need it)

auditor6

Does anyone know if you can double up on this offer by opening one euro account and one dollar account?

SewerSide

FWIW, here's a chat I had with "Fatima" from Citibank's liveperson service:

[FONT=arial,arial,helvetica,geneva]Welcome to Citibank. An online representative will be with you shortly. Your wait time will be approximately 0 minute(s) and 2 seconds. Thank you for waiting.
Thank you for chatting with us today. My name is Fatima. How may I assist you?
Fatima: Hi Mark,how may I help you today?
Mark: I'm an Egg customer, interested in opening a Citiback Euro Current Account
Fatima: Sure I'll be glad to help you with that.
Mark: There's an offer on at the moment, where the first €50 spent is reimbursed by Citi, is that right?
Fatima: Mark are enquiring about an offer wherein Get the first $75 or €50 you spend back from Citi.if you open a US Dollar or Euro Current Account with Citibank before 27 February 2009 and spend at least 75 US Dollars or 50 Euros by 15 April 2009 from your new account to qualify.
Mark: Thats right. Am I too late to apply?
Fatima: Mark the account needs to be opened by 27th February 09.
Mark: So if I printed out the form, and sent it to you recorded, and you go the form on friday, would I be eligible?
Fatima: Mark on recieving the signed application form and documents we do undergo a credit check,and its takes 5-10 working days to process the application.
Fatima: Only after that the account is opened.
Fatima: Well you will not be able to qualify for the offer.
Mark: The Citibank press office is still promoting this offer
Fatima: One moment please while I find that information for you.
Fatima: Mark we have checked on this,wherein the account needs to be opened by 27th February 09 to avail of an offer.
Fatima: Is there anything else that I may help you with?
Mark: May I post this chat log on a website?
Fatima: Mark are you looking for the transcript of this chat ?
Mark: I want to copy and paste this information on a forum, so others dont apply thinking this offer is still open.
Fatima: One moment please while I find that information for you.
Fatima: Mark if you log onto the Egg website it is clearly mentioned in there, that the account has to be opened before 27thFeb 09 to qualify for an offer.
Fatima: The link on the Egg website is :
Fatima: http://new.egg.com/visitor/0,,3_107592--View_2284,00.html
Fatima: Onece you log in here,its clearly mentioned about the offer.
Mark: I appreciate that. But I know others are being told differently: http://forums.moneysavingexpert.com/showthread.html?p=19128621#post19128621
Mark: So I wanted your permission to post this chat onto that forum so others know the offer is now closed.
Fatima: Mark I would not be the right person to give such kind of permission ,as the information is already mentioned on the website.
Fatima: Again on the link that you gave ,its still say that the account should be open by 27th Feb 09 to qualify for the offer.
Fatima: Is there anything else that I may help you with?
Mark: No that's everything. Thank you.
Fatima: Thank you for your time Mark.
[/FONT]

auditor6

This contradicts the previous post from DSE Dan who has a a different version in writing!! Is this correct?

Alfie_E

MSE_Dan wrote: »

If you make a Euros/Dollars purchase while you are in the UK (ie. online/over phone) then the 2.75% is charged.

If it’s online or over the phone, how will they know you are in the UK?

For distance sales, Citibank won’t know where you were located when you made the purchase. They will know the location where the card transaction was processed. For Amazon.fr, that’ll probably be in France. But, Amazon.fr is just a trading name for Amazon EU Sàrl, Luxembourg, so I wouldn’t be surprised to hear that they process some transactions in Luxembourg. Even a merchant can’t be certain of your location when they accept a distance sale, which is why banks are only interested in the transaction currency and the location where it was put into the payment system.

It could be that Citibank have a list of merchants associated with distance sales, just as they have a list of merchants associated with gambling. However, that would affect you no matter where you were. Excluding distance sales would mean hitting you with the 2.75% charge, even if you bought from Amazon.fr when spending time in France (or other Eurozone country). If people are going to carry on using the card after the promotion, it would be important to know how distance sales are treated. I can’t imagine distance sales are excluded. It would go against their claim of “spend overseas, just like a local.”

shop-to-drop

I think hubbie has an egg card, is it the one that is a funny shape?

(Ignore me I've just remembered it's a mint card he has.)

MSE_Martin

Hi folks,

On the issue of whether you'll be accepted. We have been given the info from Citibank officials, but sadly it seems there's contradicting info. If there are problems we will do our best to lobby citibank to sort it - but it is a question of who to believe, the call centre staff or the press office.

There really should be a homogeneity of message, but there obviously isn't. Sadly at this point we can't offer any more guidance. We've been told officially it will work... that's all we have

michaels

They ran the offer for a couple of months last year and then again the current offer so even if it is too late this time they may run it again.

Interested on the comments re excahnge savings, I think you get more EUR/USD per pound withdrawing on a Nationwide Visa than you do using the Citi internal transfers between accounts

Currently xe.com says 100 GBP will buy you 142.74 USD whereas if I ask citi to transfer 100 GBP to my USD account they will give me 139.48 about 2.3% loading (citi internal transfer currently unavailable online, I will update later)

tomhill

Just rang up Citibank and they told me that this offer was long closed. Citibank say that the account needs to be opened by Friday 27th and that it takes 8-10 working days to open the account.

Harry_7040

I am afraid that we had no chance with this.................I had completed the form online and then spoke with Customer Services.............. they stated they would have to process the application which would take at least 5 working days................... Unless the acount was opened by close of play Friday 27th ( impossible !! ) then this cashback offer does not apply.............

The whole thing is a scam...............

:mad: