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Egg savings - Paying in

SG_Guy
SG_Guy Posts: 100 Forumite
in Savings & investments
Do all payments in to an Egg savings account go by Faster Payments? The sort-code checker suggests that Egg savings accepts Faster Payments going in and my online transfer also went by Faster Payments - however, to-date both instances have taken 3-4 working days to be credited to Egg. Anyone else have a similar experience or an explanation? Thanks a lot!

Comments

  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    I pay in using debit card. Shows instantly. :)

    Also, the sending bank has to send by FPS too.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    edited 22 August 2010 at 9:20PM
    Egg accepts faster payments and debit card deposits.

    Which bank were you sending the payments from, how much were they for, what time of day did you organsise it and what type of account was it from?

    (just trying to assess the reason for the FP turning in to a BACS - it ain't Egg's fault though, unless you fired it off later on Friday).
  • SG_Guy
    SG_Guy Posts: 100 Forumite
    Transfer to Egg left by Faster Payments on Friday, which is why it is odd it has not hit the Egg account within two hours.
  • Mr_K
    Mr_K Posts: 1,171 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Car Insurance Carver!
    Don't think Egg deposits (apart from debit card payments) show up on the account straight away. Think it gets updated overnight. My guess is that as it was a Friday, it might not show up till Monday but with Friday's date as the deposit if its a Faster Payment. I use debit card deposits for Egg, simpler and you've got the reassurance of it showing instantly.
  • jamesd
    jamesd Posts: 26,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    They take a while to show up but if you do them before 6PM (check this time) they should be applied to your account on the same day. Withdrawing money doesn't use faster payments, so that takes three days unless paying for CHAPS is worthwhile.
  • Stompa
    Stompa Posts: 8,393 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    jamesd wrote: »
    Withdrawing money doesn't use faster payments, so that takes three days unless paying for CHAPS is worthwhile.
    Oddly, for me BACS payments from Egg generally happen in 2 days. I've no idea why, I've never had it happen with BACS payments from other banks.
    Stompa
  • YorkshireBoy
    YorkshireBoy Posts: 31,541 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Stompa wrote: »
    Oddly, for me BACS payments from Egg generally happen in 2 days.
    eg action Monday arrive Tuesday? That is strange!
  • Stompa
    Stompa Posts: 8,393 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 23 August 2010 at 10:12AM
    YorkshireBoy wrote: »
    eg action Monday arrive Tuesday? That is strange!
    Not quite that fast, I mean action first thing Monday morning arrive 48 hours later first thing on Wednesday morning.

    Ignore my previous post - having just looked up the BACS cycle it seems this is regarded as 3 days. It must be all my other banks that are slow!
    Stompa
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