EGG - Money & Card question

AQUA-IAN

Quite simply, I have at the moment a healthy positive balance on my Egg Money account and an unhealthy negative balance on Egg Card. I simply want to pay my Egg Card off. Why not use the positive to pay for the negative?

grumbler

After reading Frequently asked questions I have some doubts.

Can I transfer balances to Egg Money?
Yes, you can transfer balances from credit, charge or store cards, loans or overdrafts. There is no charge to make a balance transfer and you can ask us to transfer any amount as long as it’s less than 95% of your available credit limit.

Transferring balances is easy. Just log in to 'Your accounts' at the top of the page, select 'Balance transfers' from the left of the 'Your money' page. On the next page, choose the type of transfer you want to make and after that you'll just need to enter the card, loan or overdraft details and we'll do the rest.

It is not possible to transfer balances between Egg accounts. Once you've completed your request to transfer a balance, the transfer should be processed in no more than seven to ten working days. Remember, you should continue to make your usual repayments to each card, overdraft or loan account until the provider has confirmed receipt of the balance transfer.

The procedure is described here incorrectly. In fact you must use Egg Money admin (as I explained). The information that 'It is not possible to transfer balances between Egg accounts' is incorrect too because in fact it is possible to move money from Egg Money to Egg saving account, but I am not sure about from Egg Money to Egg Card.

I am leaving the battle-field in a hope that those who have both cards will be more helpful ....:mad:

EDIT: now I see from your post that it is not possible to move money from Egg Money to Egg Card. And I was sure that YB will come to help sooner or later ...

AQUA-IAN

I hope YB does. All my savings are tied up with A&L.

I just can't understand why I can't BT from Egg to Egg ??

YorkshireBoy

AQUA-IAN wrote:

Quite simply, I have at the moment a healthy positive balance on my Egg Money account...

Why? It only pays you 4% AER. If you have money to save, why not put it somewhere that gives a better return?

Why not use the positive to pay for the negative?

Basically, because you can't! See my '3 ways to get money out of your Egg Money account' above.

YorkshireBoy

grumbler wrote:

The procedure is described here incorrectly. In fact you must use Egg Money admin (as I explained). The information that 'It is not possible to transfer balances between Egg accounts' is incorrect too because in fact it is possible to move money from Egg Money to Egg saving account, but I am not sure about from Egg Money to Egg Card.

I think the problem here grumbler, is that Egg have recently re-vamped the customer interface and simply haven't ironed out all the creases before going live.

Due to they way they have structured the tabs/options, the old written instructions no longer make sense!

YorkshireBoy

AQUA-IAN wrote:

I just can't understand why I can't BT from Egg to Egg ??

Setting aside the fact that you have a +ve balance with Egg Money, because that would be like robbing Peter to pay Paul.

Your debt would be passed around from one Egg Product to another and never get paid off.

Didn't my earlier post (about pre-loading a monthly spend) help you grasp that?

AQUA-IAN

Thanks anyway YB. Paid EGG CARD from my current account. Now nil balance ( 0% ends April ). Nil balance on egg card / positive on egg money.

EDIT: Thanks also to Grumbler.

browsingid

To answer your original question Aqua-Ian - I have transferred a positive balance from one egg card to another (can't remember whether it was Money > Green or the other way around, but I think this is irrelevant).

In order to effect this transfer I sent a secure email requesting that this be done - I think I told them that I had set up the original transfer to the wrong card, resulting in a positive balance. Can't remember how long it took, but it was not a complicated procedure by any means. No fees, no hassles.