BACS payment to Egg

Gambler

I sent a payment from my account on Friday 19th May to pay off the balance on my egg card (£13K) before the anniversary ends on 31st May.

Getting a little twitchy now as the money has still not hit my egg card.

I though BACS normally took a max of 4 days although checking the Egg website it is quoting up to 7 days.

Anybody have experience of this with Egg?


Thanks

EagerLearner

I sent a transfer from Cahoot to Egg Money on 23rd and it arrived on 25th - should imagine yours will be in soon? Unless it depends on the amount - I only sent them £30, maybe £13k takes longer. If it's 7 working days according to their site, it should arrive Monday 29th latest and you should be ok...

lisyloo

Bear in mind it actually shows up 1 or 2 days later on-line.
So for example a train ticket I bough on wednesday 24th only showed up today 2 days later.

So it's possible it's been done but just isn't showing yet.

EagerLearner

I am new to Egg Money so thanks Lisyloo, didn't know that and it will save me a panic moment in the future I'm sure ;o)

EagerLearner

Milarky

Gambler wrote:

I sent a payment from my account on Friday 19th May to pay off the balance on my egg card (£13K) before the anniversary ends on 31st May.

Getting a little twitchy now as the money has still not hit my egg card.

I though BACS normally took a max of 4 days although checking the Egg website it is quoting up to 7 days.

Anybody have experience of this with Egg?


Thanks

If you could have paid this by debit card (DC) you should have instead - because Egg then is responsible for collecting and applying the payment to your account themselves. This used to be the ideal way of paying Egg from own funds (i.e. not as a balance transfer payment by a third party) because it went in on the date of payment and you could time it perfectly (last day of 0% or 'due date' of statement). However DC payment now requires 2 'clear' working days. If you were to DC pay them on Tuesday 30th it would hit the account on Thurs 1st (and be viewable by Fri 2nd). But as it is you have sent the payment. I had a nightmare experience with Egg last month where a balance transfer to Egg Money looked like it was not going to arrive although it had 8 cwd from being sent until the 'due date'. By +5 cwd - with nothing showing on the account at +4 cwd I got worried. By +6 cwd still nothing and I had no alternative but to pay Egg Money by DC immediately - knowing this would hit the account on the last date. To complicate matters I have a min payment by direct debit (DD) set up. I gambled that this would be taken anyway because the manual payment would arrive too late to affect it. Finally - two weeks after contacting the sender (cahoot) and their contacting Egg to 'trace' the payment they sent - Egg just credits my account with this amount on 17th May - four weeks after it was sent.

I would say that if your payment entered the BACS system normally om 19th (we are now +5 cwd) and it is not showing by tomorrow then it is now a missing payment. Next working day is now Tuesday 30th. You can at least DC pay the 2% min payment if you still have to (assuming the due date is 1st?) I'm guessing that you haven't arranged the min payment to be included in this large payment and this will be taken by DD anyway. If your balancing payment does finally turn up late then ask Egg to waiver any interest due - I can't think of a 'ironcast' argument for this but you could say that your payment would have arrived at least a week before the end of the 0% period and so the added delay (taking it 7 days plus longer than this) is not acceptable performance by the BACS system for which you cannot be expected to bear any cost*. After all everyone relies on this system but when payments go astray it takes banks a lot longer to actually 'trace' them (i.e. they give themselves more time) than the payment itself takes to transit.

Good Luck (and don't forget to cover the minimum payment!)

*With the proviso that you either sent the payment quoting all the correct details or this was done for you and - again - the details you provided were the correct ones. No one else can accept responsibility if there was any mistake on your side, of course.

[What of the sending details? What date did payment leave - are those details the correct one for Egg etc?]