Egg instant access now 3.25% (2.00% bonus).

KTF

Dont forget that the account gets you access to egg money manager (shows all your accounts from various providers in one place) which is very handy if you have multiple accounts.

echelon_2

I've just applied - how long does it take to open an Egg account roughly??

Former_MSE_Dan

Hey folks, we spotted this too and it's in our Top Savings guide. I think MSE Guy is knocking up a news story about it too

bonzer

Stompa wrote: »

Does anybody know if you can make payments into these accounts by just specifying account number and sort code, or do they require it to be a transfer from a linked account?

Seems to be OK with BACS payments using sort 40-61-99. Says it supports faster payments too.

Tip: Egg let you name your account. I've named mine with the date the bonus expires to remind me to shift elsewhere.

Bonzer

mini_cooper

bonzer wrote: »

Tip: Egg let you name your account. I've named mine with the date the bonus expires to remind me to shift elsewhere.

Bonzer

SNAP - I have done exactly the same thing. 7th August next year I'll be moving my money (if not before).

John_3:16

Would I be right in thinking if you take your money out before the year is up you will only get 1.25%? Or is the 2% added to the 3.25%.

If my first thought is right the way saving rates are going up this will be behind in a couple of months? And your money will be trapped in.

bonzer

No you can withdraw money at any time and keep the bonus interest. It's a normal instant access account which currently pays a variable rate of 1.25% + a 2% bonus = 3.25% in total. The bonus part disappears after 12 months. So after that point you just get the variable rate which is currently 1.25%.

mini_cooper

John_3:16 wrote: »

Would I be right in thinking if you take your money out before the year is up you will only get 1.25%? Or is the 2% added to the 3.25%.

If my first thought is right the way saving rates are going up this will be behind in a couple of months? And your money will be trapped in.

I read it that you get 3.25% from day one and with instant access I can withdraw as soon as I see a better rate. This is from the Egg website

Egg Savings Account (Internet) If interest rates and easy access are your main priority, then open a new Egg Savings Account (Internet) and get a very attractive rate of 3.25% gross pa/AER variable (includes 12 month fixed bonus rate of 2.00% gross pa from the date the account is opened) on balances up to £1,000,000. No interest payable on balances over £1,000,000 during the first 12 months. The account will then move to our standard variable rate currently 1.25% gross pa/AER variable. The introductory rate is a limited offer for new accounts and only applies to new money into Egg that is not already held in an existing Egg Savings Account (Internet) or Egg Savings Account (Investor).

Lansdowne

natman wrote: »

Now this comes along to throw a spanner in the works - darn it!!!!
I have just opened it, however at the end it highlighted i could not open it as tehy would need to write to me for further info , dont know what they would want, but hey I will await.
I have no experience with egg at all, so heres looking forward to it.......

Thanks again

If you have the audacity to live in a FLAT it could take weeks as it did for me.
Never got a proper explanation but it seems that Egg does not want flat dwellers.
Their computer (they don't even have humans in their call centre only machines) seems to insist you are on the electoral roll, have a current account, and show a utility bill etc, with the home address identical in every tiny detail.
For example my electoral entry says "Ground Floor Flat", my gas bill says nothing, my bank statement has the road misspelled. It took me four attempts to get Egg to open the account. Never had any trouble anywhere else.

fablad75

I'm going to rely on the kindness of you good people to tell me when this offer is about to expire! My savings are currently in a Halifax Guaranteed Saver Reward (6%) and will stay there till the end of November.

Don't want to open this now and waste almost 4 months with no money in it.