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jetsetwilly_2

After making close to a grand last year from Stoozing, I have had to take a break.

I was all ready to pile my £14,500 Egg Card into my Savings Account only to see that the 2.5% nonsense will scupper this. So I have sent them a PM to cancel if they don't waive the fee.

Anyway.

I just got Egg Money Card

I just got 5k Barclaycard 0% for 10 months.

Now, how do I go about getting this into my savings account free of charge?

Can somebody tell me if I am correct....

Ring Barclaycard and ask them to transfer £4500 to egg money (number on the card)

This will put Egg money 4500 in credit.

Then move the 4500k into my high interest saver.

Will this cost me anything?

jetsetwilly_2

Oh, and also, how do I transfer money from my current account to Egg Money so that I have funds to spend on it? I don't wnat to pay to move monry from current to Egg Money

jetsetwilly_2

Oh, and one other thing. When do Egg pay your interest from your purchases? Presume its annually?

YorkshireBoy

The answers to all your questions can be found in the Egg Money FAQ on their website.

jetsetwilly_2

I have read that, just want to make sure I am not getting charged when I make the BT from Barclaycard

HGLTsuperstar

No fee if made within 60 days of opening the Barclaycard, and no fee for BACS transfer via Egg money, but it will be to your current account that your Egg money DD is set up with, then you need to move it your saving account.
Egg dont pay you interest on your purchases, though they do charge! They pay cashback annually in March, so you've just missed, and monthly interest on positive balances,
As for threatening to close your egg card if they dont waive the fee, try it if you want but many of us have already beat you to it and got nowhere!

jetsetwilly_2

"Egg dont pay you interest on your purchases, though they do charge!"

Charge?

If I have positive balance and spend on my card I get 1% cashback and there is no charge?

jetsetwilly_2

Sorry, lets get this clear.

If I ring Barclaycard to do a BT to Egg Money, will Egg charge me? (I know Barclaycard won't)

YorkshireBoy

jetsetwilly wrote:

Sorry, lets get this clear.

If I ring Barclaycard to do a BT to Egg Money, will Egg charge me? (I know Barclaycard won't)

It's a BT from Egg Money - the cash goes from Barclaycard to Egg Money.

There are no fees to pay at all.

Rafter

There is no point putting your egg money card in credit to earn interest, unless you aren't earning as much off your savings elsewhere.

Once you have moved your Barclaycard BT through it (free of charge just to confirm again) simply use your egg money as a 'full payer' credit card. So make purchases, start earning 1% cashback and just pay off in full each month to avoid paying interest.

No need to have it in credit and you can be earning interest elsewhere rather than having your purchases reduce your egg money credit balance every transaction, rather than maximising the benefit from the 50+ days interest free period.

R.

HGLTsuperstar

I meant they do charge interest on purchases! As your wording implied they pay interest on purchases, nice thought!