Does Egg World Masercard charge for moving positive balances to current account?

britboi

I know that there have been changes made to Egg Money card when it became Egg World Mastercard. But I am not sure whether it is still possible to transfer positive balances from the Egg card account to a current account without incurring a charge.

The reason I need to know is because I want to take advantage of a promotional balance transfer deal offerred on a MBNA card I have. As I don't have any outstanding credit card debt, I am just looking to get the money on offer by MBNA into my current account by the cheapest method. I note that MBNA charge a 3% fee for transferring a balance between credit cards, but charge a 4% fee for doing a money transfer to a current account.

I was therefore considering whether to use my Egg World Mastercard as the intermediary credit card, thus incurring the lower 3% fee imposed by MBNA, then transferring the positive balance created from the Egg card to my current account. In this way I could avoid MBNA's 4% fee for doing money transfers directly.

Does anyone know whether this approach would make sense, now that the operation of the Egg Money card has changed?

YorkshireBoy

It's an old Egg Money card yes?

If so, then the T&C's, with respect to (the allowing of) positive balances and BACS/fee-free BTs (from a positive balance), have not changed.


EDIT: Just out of interest, what's the deal MBNA gave you?

britboi

Yes, it's an old Egg Money card.

The deal is nothing special, 0.9% till Jan 2010. I'm not using the funds to place on deposit. I have another need for the cash which will give me a return I am looking for.

the_dogs_testicles

Egg, no way.. help