Egg vs AA

bodmil

Just looking for some quick advise over which to pick? Obviously the same rate so has anyone found one to be particularly bad and worth avoiding? Slow transfers or anything like that?

oldagetraveller

I have accounts with both. I prefer the AA only because, if making a deposit, they specify the date on which the funds will be removed from the linked account.
However, I'm fortunate to have an old 3.25% rate (with bonus until August) on the Egg account. In that respect, and in my case, they are better!
The Egg account did seem to be set up quicker, AA (Birmingham Midshires) take ages for the linked account Direct Debit to set up fully and funds could be deposited.

opinions4u

Both use BACS to transfer funds out.

Both accept FP to take funds in.

Both have decent online servicing.

Egg has a slightly shorter web address to type in!

Egg has its own banking licence. The AA account comes under Bank of Scotland along with Halifax, BM and IF.

The AA tends to have a fixed rate available at a competitive rate more often than Egg.

oldagetraveller

opinions4u wrote: »

Both accept FP to take funds in.

Well, that I didn't know! Thanks.

Edit to correct. I've just called the AA, because I've never seen that anywhere on their website, and they DON'T use faster payments. So if they are wrong then please show where that information is available.
Thanks withdrawn.

Stompa

oldagetraveller wrote: »

I've just called the AA, because I've never seen that anywhere on their website, and they DON'T use faster payments. So if they are wrong then please show where that information is available.

I've been moving some funds into the AA over the last few days, and it's been going by faster payments. It came as a bit of a shock as this is my first encounter with FP.

Of course it also depends on the sending bank, Egg -> AA doesn't appear to go by FP.

Sceptic001

Egg is more versatile. AA is tied to a nominated current account. Payments can be made to any bank or building society account with Egg. You can also pay into Egg with a debit card.

G_M

oldagetraveller wrote: »

Well, that I didn't know! Thanks.

Edit to correct. I've just called the AA, because I've never seen that anywhere on their website, and they DON'T use faster payments. So if they are wrong then please show where that information is available.
Thanks withdrawn.

When they say "they DON'T use faster payments." they are talking about payments out. They DO accept payments in.

Whoever you spoke to gave poor/incomplete advice.

If you put the AA sort code 20-97-78 into the sortcode checker this is confirmed.

MarkFromCornwall

oldagetraveller wrote: »

Well, that I didn't know! Thanks.

Edit to correct. I've just called the AA, because I've never seen that anywhere on their website, and they DON'T use faster payments. So if they are wrong then please show where that information is available.
Thanks withdrawn.

If you use the facility on the AA website to pay into your account it goes via BACS but if you 'push' the money from another acccount, just quoting your AA sort code and account number it goes as a Faster Payment and shows up in your AA online account within a couple of hours. I've done it several times.

Mark

Stompa

MarkFromMullion wrote: »

If you use the facility on the AA website to pay into your account it goes via BACS but if you 'push' the money from another acccount, just quoting your AA sort code and account number it goes as a Faster Payment and shows up in your AA online account within a couple of hours.

Though only if the 'pushing' account also supports FP, obviously.

prabu

hi,
i am new to this forums!!!!

bodmil

Cheers guys! Went for Egg in the end so fingers crossed it all goes smoothly. Thanks again.