Egg Money - reducing interest from 4 % to 0.5%

benf90

rownada wrote: »

oh or do you mean the general changes to the terms and conditions? I can see that from the link in the 15th April 2009 Important changes to your Egg Money account email... sorry.

But yeah, going back to my point- I was never told about the 4% to 0.5% interest reduction on 15th April!! very annoying :mad:

That was the email that listed all of the changes, including the interest rate! The change in interest rates is the very first change they've listed, it's highlighted in bold text.

"The changes, at a glance

Interest on positive balances
From 24 April 2009 the interest rate you receive on positive balances will reduce from 4% pa/AER to 0.5% pa/AER and from 15 May 2009 interest will no longer be paid on positive balances. Because of this, Direct Debit payments will only be taken when you have a negative balance."

rownada

Not really no. Well, at least not on the email I received. The one I got said:

We're making some changes to the terms and conditions of your Egg Money agreement.

If you log in to 'your accounts' you may notice some changes to Egg Money – don't worry, these don't affect you; simply continue to pay money off your account in the normal way.

A summary of all the changes can be found below. To view a complete version of your revised Egg Money terms and conditions click on the link below.

[LINK DELETED]

Summary of all changes effective from 15 May 2009:
Your terms and conditions (including debit interest rates) are otherwise unchanged.

Condition 2 – This Condition is amended to give you more information about minimum payments. The minimum payment which you have to pay remains unchanged.

Condition 4.1 – This Condition is simplified but its meaning and effect is unchanged.

benf90

rownada wrote: »

Not really no. Well, at least not on the email I received. The one I got said:

We're making some changes to the terms and conditions of your Egg Money agreement.

If you log in to 'your accounts' you may notice some changes to Egg Money – don't worry, these don't affect you; simply continue to pay money off your account in the normal way.


A summary of all the changes can be found below. To view a complete version of your revised Egg Money terms and conditions click on the link below.

[LINK DELETED]

Summary of all changes effective from 15 May 2009:
Your terms and conditions (including debit interest rates) are otherwise unchanged.

Condition 2 – This Condition is amended to give you more information about minimum payments. The minimum payment which you have to pay remains unchanged.

Condition 4.1 – This Condition is simplified but its meaning and effect is unchanged.

That's the start of the second half of my email (from 'Summary of all changes effective' onwards).

The first half also explains about the new insurances and that a new card will be issued etc.

It's a bit strange that you've had a different email to everyone else. I wonder why.