We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Additional payments by BACS to Egg Loan

ChampagneTastesBeerBudget
ChampagneTastesBeerBudget Posts: 13 Forumite
in Loans
Hi,

On Tuesday 20th June I transferred some money from my Alliance & Leicester current account to my Egg Loan account by BACS. I was expecting that it would take 3 working days to arrive at Egg (hence I would see the money on my loan account on 22nd June).

I have checked yesterday & today (23rd June) but there's still no sign of it. I have checked with Egg & they cannot see it coming in yet, but my bank says it has definitely gone. I can see it debiting my Alliance & Leicester account on 20th June.

I have triple checked I used the correct account number/refs etc.

Does anyone have experience of making overpayments to Egg & know how many days it took to show on their account?

I'm scared my money is lost somewhere...

Thanks x

Comments

  • mountainofdebt
    mountainofdebt Posts: 7,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It be delayed for any number of reasons:

    - perhaps you made the transfer after the cut off point from A&L's point of view

    - Egg may have received the money on the 23rd (especially if above applies) and their computers will have updated over last night.
    2014 Target;
    To overpay CC by £1,000.
    Overpayment to date : £310

    2nd Purse Challenge:
    £15.88 saved to date
  • beanielou
    beanielou Posts: 98,709 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    In my limited experiance it seems to take Egg longer than expected to show payments to an account when paid by any other method than DD
    HTH
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger.
    One debt remaining. Home improvement loan. 20 months left.
  • MarkyMarkD
    MarkyMarkD Posts: 9,913 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It definitely wouldn't have even arrived with Egg until 23 June, if you told A&L on 20 June to transfer it - BACS transfers actually leave A&L the day after you instruct them, and then take 2 further working days to arrive, so it's always at least 3 working days to get there (not including the first day).

    What you call 3 working days, I call 2 working days - leaves you Monday, arrives Wednesday: Wednesday is the THIRD working day, which is TWO working days after it left.
  • ChampagneTastesBeerBudget
    ChampagneTastesBeerBudget Posts: 13 Forumite
    Thanks all,

    It is now showing on my Egg Money manager. Seems they were just slow in updating to my account. Nearly all paid off now, woo hoo!

    X
  • frenchconnection200
    frenchconnection200 Posts: 180 Forumite
    I usually make extra payment to my EGG loan by BACS on a Monday and they show up by Friday. I agree it is very slow.
    Sealed pot challenge number 513
  • Jazzking
    Jazzking Posts: 312 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    Has anyone had any experience of asking Egg for a loan statement?
    I too make overpayments every month off my Egg loan but it annoys me that all you can see online is the remining balance and not when specific payments have been credited to the account....
  • frenchconnection200
    frenchconnection200 Posts: 180 Forumite
    I agree, a loan statement would be good. Just cancelled my
    PPI so a big chunk will be coming off my loan. Yipee:beer:
    Sealed pot challenge number 513
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.8K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.2K Spending & Discounts
  • 246.9K Work, Benefits & Business
  • 603.4K Mortgages, Homes & Bills
  • 178.2K Life & Family
  • 260.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture