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Egg Savings - display of interest rate inaccurate

samizdat
samizdat Posts: 398 Forumite
edited 10 August 2010 at 7:44PM in Savings & investments
When you log in to an Egg Savings account, you can display the rate currently being paid on your account by following the link "see interest rates" from your main account page.

However, I don't think mine is accurate. I opened an account more than 12 months ago, and this account came with a 12-month introductory bonus. The account paid 1.25% gross plus a 2% bonus, making 3.25%.

The bonus period is now over, yet I am still being told I am getting 3.25%. I am tempted to rely on this, and leave my money in the account, because I cannot do better in today's market. On the other hand, I will probably end up getting paid a paltry amount of interest once Egg's computers have caught up.

Anyone else had any experiences?
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Comments

  • KingL
    KingL Posts: 1,713 Forumite
    I'm still in the bonus period (for another month) and this is accurate on my online banking. They've just sent me a letter telling me when the bonus runs out, which is nice. I'm sure if you give them a call, they'll tell you what's what. Whether that would prompt them to correct an error in your favour I have no idea....
  • John_3:16
    John_3:16 Posts: 849 Forumite
    I was on the better 12 mth deal I cannot even see what interest they have given me it just shows a new account??????

    Is this normal or how do I find my old transactions?
    The measure of love is love without measure
  • samizdat wrote: »
    When you log in to an Egg Savings account, you can display the rate currently being paid on your account by following the link "see interest rates" from your main account page.

    However, I don't think mine is accurate. I opened an account more than 12 months ago, and this account came with a 12-month introductory bonus. The account paid 1.25% gross plus a 2% bonus, making 3.25%.

    The bonus period is now over, yet I am still being told I am getting 3.25%. I am tempted to rely on this, and leave my money in the account, because I cannot do better in today's market. On the other hand, I will probably end up getting paid a paltry amount of interest once Egg's computers have caught up.

    Anyone else had any experiences?

    My bonus period ended yesterday and interest was credited to the account and today it is showing the reduced interest rate of 1.25%. Are you sure your 12 months is up?
  • Stompa
    Stompa Posts: 8,379 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Mine's showing 3.25% but the bonus period ends today, so I guess I'll find out tomorrow (when I log in to close the account) if it has changed as expected.
    Stompa
  • malik999
    malik999 Posts: 376 Forumite
    edited 10 August 2010 at 10:18PM
    Stompa wrote: »
    Mine's showing 3.25% but the bonus period ends today, so I guess I'll find out tomorrow (when I log in to close the account) if it has changed as expected.

    Spooky. My 3.25% ends today also.
    I'm disapointed egg haven't offered a better deal to get me to open another account. Last year they timed it so the 3.25% was being offered as the 6% ended.
  • Stompa
    Stompa Posts: 8,379 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    malik999 wrote: »
    Spooky. My 3.25% ends today also.
    I'm disapointed egg haven't offered a better deal to get me to open another account. Last year they timed it so the 3.25% was being offered as the 6% ended.
    Fortunately I opened one of their 2.8% accounts a few weeks ago in readiness.
    Stompa
  • D1zzy
    D1zzy Posts: 1,500 Forumite
    samizdat wrote: »
    When you log in to an Egg Savings account, you can display the rate currently being paid on your account by following the link "see interest rates" from your main account page.

    However, I don't think mine is accurate. I opened an account more than 12 months ago, and this account came with a 12-month introductory bonus. The account paid 1.25% gross plus a 2% bonus, making 3.25%.

    The bonus period is now over, yet I am still being told I am getting 3.25%. I am tempted to rely on this, and leave my money in the account, because I cannot do better in today's market. On the other hand, I will probably end up getting paid a paltry amount of interest once Egg's computers have caught up.

    Anyone else had any experiences?
    Just had a letter from them advising that my bonus period ends next month - have you had one? I think they now have to advise you, by law, when your bonus ends, so if you have not heard from them presumably your bonus is still in force.
  • malik999
    malik999 Posts: 376 Forumite
    Stompa wrote: »
    Fortunately I opened one of their 2.8% accounts a few weeks ago in readiness.

    Yes I was 2 days too late spotting that deal. I guess they got their quota.
  • samizdat
    samizdat Posts: 398 Forumite
    My bonus period ended yesterday and interest was credited to the account and today it is showing the reduced interest rate of 1.25%. Are you sure your 12 months is up?
    Pretty sure. I labelled my account name with the date of opening. On the other hand, the anniversary was only a few days ago, so maybe it took a few days for Egg to open the account in the first place.

    Not sure whether I will call them!
  • Geoffo_M
    Geoffo_M Posts: 1,161 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Stompa wrote: »
    Fortunately I opened one of their 2.8% accounts a few weeks ago in readiness.

    I thought it had to be 'new' money?
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