This can't be right, can it? (Egg Money cash back)

[Deleted User]

sicker wrote: »

Sorry, [Deleted User], you will only get 1% cash back on money you spend not transfer. You will however get 4% on the positive balance paid monthly.

John

That's a shame... :think: how come Mary (see above) seems to think she's got it though?

YorkshireBoy

Deleted_User wrote: »

how come Mary (see above) seems to think she's got it though?

Mary, like myself and many others, got her transfers in early in the cashback year because we suspected the loophole wouldn't be open for ever.

Indeed, the loophole was officially closed in May (from memory) of this year. However, because Egg's CSA's weren't fully briefed to always action BACS transfers over £100 as BT's, some stoozers still managed to sneak through and earn cashback.

There are the odd reports of cashback still being earned now, but these are very much few and far between.

My own advice would be if you have cashback earned already, then don't risk any more BACS transfer requests because Egg appear to be removing existing cashback already accrued for such transaction requests.

However, for new customers who don't have any BACS transfer generated cashback accrued there's nothing to lose and I'd say go for it!

To get the full picture, and how it's unfolded over the last few months, you should read this thread and the two or three threads on it on the stoozing.com 'Stoozing Credit Cards' board:

http://www.stoozing.com/cgi-bin/forum/YaBB.pl?board=stcard

smarmo

Thanks Sicker, just what I wanted to hear. The £60 isn't nice but it's under 1% so I just about make enough to make it worthwhile. Oh for the old days back.

lipidicman

Hi, I would like to clarify something. I am going to ask my lloyds CC to chuck a load of money over to egg money. I used to bung it in the egg saver and grab the cashback. However I have £180 owed and do not want to rock the boat.

So, what should I do when the egg money is in credit? Move it back to my current account that covers the egg DD? YB said something about getting calls from egg and what is the procedure for this?

P.S. I find the direction of description of balance transfers confusing. The balance transfer goes in the opposite direction to the money, right?

mary

Go on the Egg Money Statement
Click on the orange writing on the left hand side: Egg Money Admin
Then click on Select an option: Transfer a Balance
Then click on Current account/overdraft
Then put in the Sort Code, acct. no, ref no. account name, amount etc. of what you want to transfer.

I have just got £14,800 from Lloyds Plat. Transferred £9,800 initially and then a couple of days later, once I had seen that had gone through and no phone calls and awkward questions asked, then sent through the other £5,000.

Yes, I equally get confused with what is going in which direction, but basically the debt goes one way and the money in the opposite.

Just do as I did, and you will get what you want.
No problems at all.

lipidicman

No, still confused. I know how to get a positive balance on Egg Money. Are your instructions for how to get that money out to a current account? As I said, before I just moved it to egg savings. Now I need to do it a different way and want to be sure before I load Egg Money up

mary

lipidicman wrote: »

Are your instructions for how to get that money out to a current account?

Yes, and subsequently on to a higher rate savings account.

So, do I understand correctly, you now have a large balance with Lloyds CC and you want to transfer it to Egg Money?
If so, do that bit exactly as you used to. No problems

lipidicman

No. I am going to ask Lloyds to do a BT to egg money. Then secrete the positive balance in a saver. I used to use egg savings but now I want to shift it elsewhere (cashback preservation)