Egg not transfering faster payments on

cash-magnet

It would seem Egg are accepting faster payments, but are failing to actually put your money in your account until it has been sitting in their account for 3 days. Does this not just seem a way to get around the faster payment system and hang on to our cash for the same amount of time as the old system for transfers.

It would appear that using BACS or faster payments, either way you lose your cash for the same 3 days with Egg. :mad:

Halifax confirmed my payments were done in seconds and were not too happy when I said Egg blamed their system for not working when I challenged them over the delays.

jonesMUFCforever

This has never happened to me - additional payments have always shown at the next updated balance which is usually the following day.

cash-magnet

Would it make a difference this being a transfer to an egg money card holding a positive balance?
You make a transfer to a central account using your card number as the reference so it ends up in your own account. Not sure if this would make a difference?

Moggles_2

Halifax confirmed my payments were done in seconds and were not too happy when I said Egg blamed their system for not working when I challenged them over the delays.

Lol. I bank with the Hally and its staff have never hesitated to blame the other party when transfers take longer than anticipated. It's six of one ...

In theory, transfers from scheme members to other providers are covered by the faster payments system but, IME, it still doesn't operate 24/7 even between accounts held by participating banks.

benf90

I've made a couple of faster payments to Egg in the last week. Both have shown on my account the next day, and when they are applied they are backdated to the date they were received (ie, the date I made the payment) so they aren't earning extra in interest.

If you have a look at the FAQs on the Egg website it'll tell you the timescales for making payments, there's a cut off time as to whether it takes 1 working day or 2 if I'm remembering correctly.

I personally don't have a problem with it. A credit card isn't a current account so I don't expect to make a payment to it and for that money to be available immediately.

chuckley

i thought they wernt part of it. HOWEVER when i have phoned them in the past they have said 'oh I see you have just made a payment', but it takes 4 days to show on the account.

very glad i chose to close the account, i no longer like their constant switching of account changes.

withnell

I've made several FP to my Egg Money, as posted above, they appear a day/2 days after making the transaction, backdated to the day the money was paid over.

456789

Whenever I FP to Egg it usually shows up the next day unless the payment was made after 3pm then I think it takes 2 days to show up

Milarky

Compare and contrast with Capital One - who coincidentally share the same branch code as Egg, 40-02-50. A payment takes 3 working days to be 'posted' to the account (and another day to appear) even though the payment goes through as a faster payment and the 'transaction date' (i.e. when they receive it) clearly shows it was received the same day.

Degenerate

Try checking the sort code of the account you make payments to (Egg's receiving account, not your CC account number) on here:

http://www.apacs.org.uk/sortcodechecker/index.html

chuckley

capital one i find excellent. their trans are updated the next day and balance immediately, unles egg who take 3 days to show trans or balances on the account.

cap 1 is also 2 days for BT payments. I will never go back to egg. cap 1 is great for meeeeee