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

MKitson

Hi All,

A very important question, are egg technically registered as a bank or building society? And therefore, will savings in this account be guaranteed by the UK Government up to £50,000?

MKitson

Misstique wrote: »

Thanks OP, just opened an account. Now trying to get my money out of Alliance & Leicester but seems a problem with their website, anyone else having problems wiht A/L?

I have spent so much time messing around with Alliance & Leicester's website, helpline and service that I'm at my witt's end. Just glad to have found the egg account - its a million time's simpler.

noh

MKitson wrote: »

Hi All,

A very important question, are egg technically registered as a bank or building society? And therefore, will savings in this account be guaranteed by the UK Government up to £50,000?

If you took the time to look on the egg website you would have found this:-
http://new.egg.com/visitor/0,,3_57308--View_1073,00.html#eggcompanies

Revel

natman wrote: »

Thanks for the INFO.


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 too had that message and I only closed an account with them about 3 months ago. I'd had that account open with them for a good few years and could still log in to the internet banking site.

MKitson

noh wrote: »

If you took the time to look on the egg website you would have found this:-

Noh, many thanks.

dougs

shame there's no monthly interest option.

opinions4u

dougs wrote: »

shame there's no monthly interest option.

It's an easy access account. Work out how much your net interest would be and make a monthly withdrawal.

MKitson wrote: »

A very important question, are egg technically registered as a bank or building society? And therefore, will savings in this account be guaranteed by the UK Government up to £50,000?

Why does it matter if they're a bank or building society?

HairY

I currently have an iNG Savings Account at 0.5% with a 2.22% gross p.a. 12 month bonus. I don't suppose iNG will lower their base rate below the BoE base rate, so 2.75% minimum seem guaranteed.

What about Egg? Do people suppose that in a month or two they might pull the plug and reduce their 1.25% base?

Worth the minor effort in switching?

Lokolo

HairY wrote: »

I currently have an iNG Savings Account at 0.5% with a 2.22% gross p.a. 12 month bonus. I don't suppose iNG will lower their base rate below the BoE base rate, so 2.75% minimum seem guaranteed.

What about Egg? Do people suppose that in a month or two they might pull the plug and reduce their 1.25% base?

Worth the minor effort in switching?

I have found Egg to be very easy to handle and open up savings accounts even if they are not top of the list (as long as they are near the top of course!)

fablad75

opinions4u wrote: »

You could open it with £1 now and add to it later on. That way you've "booked" your 2% bonus until Augst 2010.

I thought of that - but then the account is unused for 4 months while my money is in the other account. I'll only have it for 8 months after that.