Egg BT Fee Official Line

Paul_Herring

dang wrote:

Thanks Yorkshireboy, i have been offered the 0% this month, i just wanted to check it would be fee free even if i transfer to a bank rather than a balance from another card.

My £14250 (see above) with no fees went direct into my ICICI account.

mary wrote:

(Can you really put a large positive balance on your card when the credit limit is pretty small?)

Yes. My Egg Money card has a limit of £3000 (has had since over a year ago.) In Feb I transferred £9650 to Lloyds TSB from Egg (putting Egg money £9400 in credit) then transferred £9350 to Egg from ICICI (leaving Egg Money £50 in credit and my ICICI account £9350 up.)

When using Egg Money for spending (to get cashback) and as a mule at the same time, the only thing you really have to be careful of is not to put the card into debit when you do the transfer, otherwise you may end up paying interest.

Edit: Incidentally, after this BT, if they're going to insist on charging an uncapped fee, I shall be closing my £15000 card without transferring any limit to the £3000 card. That's high enough for month to month spending, and if I need a higher limit occasionally on the only CC I use for spending, I can just transfer money to it.

YorkshireBoy

Paul_Herring wrote:

When using Egg Money for spending (to get cashback) and as a mule at the same time, the only thing you really have to be careful of is not to put the card into debit when you do the transfer, otherwise you may end up paying interest.

Just to add that this may mean the card is tied up for a few days because, in my experience, Egg are very slow to show the BACS transfer in your secure area 'recent transactions' list.

You need to wait until the BACS transfer is showing, so that it is a purchase transaction, rather than a delayed BACS transfer, that takes you into a negative balance.

Derek_Duval

I asked the question,

Date: 25 Mar 2006
Subject: 0% anniversary offer

I should have an anniversary offer in june. Does the new rules mean I'll be charged a BT fee, or will it still be 0 as I'm an existing customer?

REPLY

Date 27 Mar 2006

I'm pleased to tell you that your anniversary month is June. This means you can benefit from 0% for up to five months on Balance Transfers requested during June 2006. Once the 0% has expired the rate will revert to our typical variable rate, currently 15.9% APR.

You can make a balance transfer by selecting the ?Move money? tab at the top of the page then choosing the option to ?Make a balance transfer to your Egg Card?. Then follow the simple on-screen instructions.

You can transfer the balances of credit or store cards, loans and overdrafts. The minimum you can request is ?100, maximum 95% of your credit available.

There is no handling fee charge for requesting during anniversary month.

The money will be with your other lender within 10 working days of your online request.

Please continue to make payments to your other lender until they confirm receipt of the money.

Thanks for your message.

Regards

Jay Mistry
Internet Customer Services




I replied to this,

Date: 04 Apr 2006
Subject: 0% anniversary offer

Can you please confirm that I won't be charged a balance transfer fee on my june anniversary offer, because I have heard from other official sources that I will now.

Thanks


REPLY

Date 04 Apr 2006

I can confirm for you that the handling fee for balance transfers now applies during your anniversary month as well as your introductory offer and during any promotional balance transfer offer.

We've increased the handling fee from 2% to 2.5% and we've removed the ?50.00 cap. These changes will be put in place from the 1st May 2006.

It's stated in your terms and conditions, under section 17 'Changes' , that we are able to make these changes to your Egg Card. You can see this by clicking on the following link.

new.egg.com/visitor/0,,3_11087--View_1068,00.html

If you need any further help please don't hesitate to ask.

Thanks for your message

Regards

Phil Gardner
Internet Customer Services



I've now sent a complaint as the first reply was incorrect.

Careful_ly

Derek_Duval
Please update when you get your reply, our secure message was also answered to say June anniversary offer would be free.
Careful_ly

Derek_Duval

Careful_ly wrote:

Derek_Duval
Please update when you get your reply, our secure message was also answered to say June anniversary offer would be free.
Careful_ly

Done, hope this helps.

DJ1UK

Careful_ly wrote:

Derek_Duval
Please update when you get your reply, our secure message was also answered to say June anniversary offer would be free.
Careful_ly

So was mine! Have sent a message to get this confirmed again.

DJ

DJ1UK

Have now had a reply stating that they WILL CHARGE a fee of 2.5% uncapped.

Said this was sent to me by email, though the email did not state that outright, you had to click the link to the t&c's.

Nevermind.

DJ

thelma20

I put the note below on a previous page, (1st time I've used this forum) - Then read Galileo's note. How do we find if the BTF has been wrongly added onto our account, we opened our cards more than 3 years ago, before they bought in the anniversary offer.

My husband and I have used the egg cards anniversary offer the last 3 years to put money straight into our current account and then into a savings account to earn good interest. Making sure we paid it off at the end of the 5 months I had my 3rd year (and final) offer in April this year, and so got it fee free, My husbands anniversary was in May, so got stung for the balance transfer fee. Not only this but you also get charged interest on the balance transfer fee, (shown on statement as if it were a purchase.). Never had this with any other 0% balance transfer we have used. Does anyone else know of a card that does this?