Egg Money Positive Balance?

YorkshireBoy

Stable wrote: »

Is there anything in the T&C's that suggests they could charge a fee making a transfer to a current account from a positive balance

Old card or new card? Either way you have your T&Cs/FAQ don't you? Have you looked yourself?

or has anyone ever been charged a fee?

I have the old card, and have never been charged a fee*. Most recent transaction was just last month.


* I make BACS transfer requests, rather than online BT requests, by telephone. Gives me the chance to verify there's no fee (for the benefit of the tape and all that!).

Stable_2

Old card or new card?

Old card (although now rebranded). Are there different T&C's?

Either way you have your T&Cs/FAQ don't you?

Yes.

Have you looked yourself?

No, I asked here instead.

m5rcc

Just called Egg today and they confirmed that "postive balances" are no longer avaliable. Has anyone had any problems?

m5rcc

m5rcc wrote: »

Just called Egg today and they confirmed that "postive balances" are no longer avaliable. Has anyone had any problems?

FYI:

Dear x

Thanks for your message.

This change took effect in May 2010.

Let me know if you need any further help.

Regards

Jana Stejskalova
Internet Customer Services

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Original message

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Date: 29 Jun 2010
Time: 10:38
Subject: RE: Egg Money / General

Could you advise when you have stopped this service?

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Original message

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Date: 29 Jun 2010
Time: 10:26
Subject: RE: Egg Money / General

Dear x

I'm afraid it's no longer possible to go into credit on your Egg Money Card.

I'm sorry I couldn't help you further with this matter.

If you have any further queries please contact us again.

Thanks for your message.

Regards

Helen Harris
Internet Customer Services

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Original message

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Date: 28 Jun 2010
Time: 21:24
Subject: Egg Money / General

Could you advise if you still permit positive balances on my Egg Money card? I used to be able to do this but would like to find out before I do anything else....

Kindly advise.

noh

Whatever they say it is possible to have a positive balance.
Although I don't know what action they would take if a large balance transfer arrived in the account.

There was a previous thread on this subject concerning the Egg card (not egg money) where a poster claimed it was not possible to make a BACS payment to the account if that payment would cause a positive balance.
https://forums.moneysavingexpert.com/discussion/comment/34084629#Comment_34084629

The T+Cs of the egg money card do not refer to positive balances at all so no confirmation either way.

anewstoozer

I used the Egg Money Card as a mule a couple of months ago and confirm it still works.

As long as you have a positive balance, just use the 'move money' tab and select transfer a balance from a current account. As long as your egg money is in credit, there will be no charge.

YorkshireBoy

anewstoozer wrote: »

I used the Egg Money Card as a mule a couple of months ago and confirm it still works.

Do you have the old one, or the new one with the £1 per month fee?

echamings

I would love to know that also, I have just got an Egg Money card with a limit that is quite a bit lower than my BT RBS card.

thor

I have the old non monthly fee Egg money card and I seem to remember that EGG sent a change of T&C email a few weeks ago saying that positive balances were now forbidden. I can't find the email now but if true it would defeat the original purpose of the card which was supposedly having the convenience of a cc but with the possibility of not having to borrow off it.

echamings

Until the 1st of november they are doing fee free transers for new customers (8.x% APR), my limit is the standard online web app £3k so I will hopefully be able to transfer that money to a current account... (edit: the november thing is now december, it seems to be a 3 monthly offer for new customers).

and then pay it off with my RBS 0% one.

Just called them, they do not allow positive balances, however I posed a theoretical scenario to the guy on the phone, and he said that if you're account was to go into +ve funds (through a manner that EGG cannot influence, ie a balance transfer from another card) then you would simply have to remove it. He did try to warn me off saying you may loose a benefit such as the 8.9% for the life of the balance, but I don't intend on keeping it for more than a week.

Not sure if I should try the positive balance thing or not, my Egg limit is very close to the amount I actually require and so I could just do it the normal way and let the egg one go into negative balance, then transfer the balance onto it. Thoughts?

Just had an idea, can you balance transfer to the same card, from the same card, more than once? ie after I've moved my limit out of Egg and into the bank, cleared it with RBS, then do the same again I wonder.