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

InMyDreams

david78 wrote:

Why do you think we will know on monday InMyDreams? I was thinking we will only know once the next payment date has passed, which for me is 23rd March.

Hi David,

I didn't say *we'd* know, I said that *hopefully I'll* know. That is because Monday is when my March statement will be ready, and if I understand it correctly, when my cashback for the year (even though I've only had the account for a couple of months or so) will be actually credited to my account.

Hope that's clearer

IMD.

mariner99

This is interesting.

Are you saying that if i make a card payment to egg money to give a positive balance (say £20,000) and then BT the £20,000 to another account i will get £200 cashback from EGG??

david78

Well InMyDreams, I have my March statement already and the cashback is shown but has not been convered to a credit on the account, so perhaps you will still be in the dark come Monday (as am I).

I'm thinking they will pay it after the due payment date. If this happens it means my account will be in credit again and I'll have to pick up the phone again to get the money.

david78

mariner99 wrote:

This is interesting.

Are you saying that if i make a card payment to egg money to give a positive balance (say £20,000) and then BT the £20,000 to another account i will get £200 cashback from EGG??

No, not quite. What you do is

• Put £20,000 in account to create a +ve balance
• telephone them and withdraw the money to your current account.
• get £200 cashback.

Balance transfers from another credit account won't work -- it has to be your current account.

**It is important to telephone them; doing it online doesn't work**

mariner99

Thanks for the help david.

Just waiting for the £28k from my latest MBNA stooze. Those guys are great, I take 95% of the limit every 6 months on a 0% and then repay before the 0% ends.

I had only just repaid the card last week when they rang me and offered another 0% for 6 months.

I have been doing this for nearly 2 years now. :rotfl: :rotfl:

Add the other cards and i'm regularly stoozing £50k with icici these days. :cool:

InMyDreams

OK, so now I'm confused. It clearly says on their site that all cashback rceived from March to Feb statements will be paid in the following March, but my March statement is showing my total cashback to date, from both March and Feb statements (I've only had two).

However, with my egg card, I just checked, and that cashback was paid into my bank account (from where the direct debit repayments come from) in September, on a date that doesn't match with either statement or payment dates. So here's still hoping.

David -the cashback you have shown on your March statement though - was that only awarded on your March statement (in which case my guess is it won't be paid until *next* March) or is it Feb's carried forward?

Has *anyone* here recieved *any* egg money cashback this month?

sly_dog_jonah

InMyDreams wrote:

Has *anyone* here recieved *any* egg money cashback this month?

Nope, on my statement today it is still accumulating. I've messaged them to find out whats going on, as according to the website:

Your cash back amount is calculated over each 12 month statement period commencing from the March statement in each year to the February statement the following year.

Lorian

sly_dog_jonah wrote:

Nope, on my statement today it is still accumulating. I've messaged them to find out whats going on, as according to the website:

If they pay it later in March than you statement date then I guess it'll turn up on April statements as a credit.

sly_dog_jonah

Lorian wrote:

If they pay it later in March than you statement date then I guess it'll turn up on April statements as a credit.

Egg (green) Card cashback has traditionally been paid directly to my current account, I imagine egg money will work the same.

I was secure messaged back to say it would be credited 'sometime before the end of March'.

david78

InMyDreams wrote:

OK, so now I'm confused. It clearly says on their site that all cashback rceived from March to Feb statements will be paid in the following March, but my March statement is showing my total cashback to date, from both March and Feb statements (I've only had two).

However, with my egg card, I just checked, and that cashback was paid into my bank account (from where the direct debit repayments come from) in September, on a date that doesn't match with either statement or payment dates. So here's still hoping.

David -the cashback you have shown on your March statement though - was that only awarded on your March statement (in which case my guess is it won't be paid until *next* March) or is it Feb's carried forward?

Has *anyone* here recieved *any* egg money cashback this month?

No I've not had any yet!!!!!!

The cashback I have been awarded was for a BACS transfer I made on 24th February. This first showed up as part of my running total on my March statement. I'm hoping this means I'll get it this month.

From my reading of the T&Cs cashback on egg money will be paid to the credit card account, not your current account, but I could be wrong.

I still think they will wait until your payment due date is out of the way, or even till the end of the month, so as to maximise any interest they may earn on people with -ve balances who can't pay is all off.