NEW: Got questions about energy? Put them to Gary and Andrew from MSE's Utilities team during our energy-themed 'Ask An Expert' event. Check back here from Tuesday 9 August, 12pm

Halifax 1 to current account via green egg?

I have £4300 credit limit on my Halifax 1 card with a 2% transfer fee. I want to get it into my current account. Can I transfer to my green egg card and then into my current account or will this attract a fee from egg?

Replies

  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    Egg Card or Egg Money?
  • chocomonstachocomonsta Forumite
    487 Posts
    Part of the Furniture Combo Breaker
    Forumite
    Or is there another way to do it, any advice would be welcomed. I have missed the anniversary on the egg green card too.

    Thanks
  • chocomonstachocomonsta Forumite
    487 Posts
    Part of the Furniture Combo Breaker
    Forumite
    Its the green card, just says egg card
  • YorkshireBoyYorkshireBoy Forumite
    31.5K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    [strike]The Egg Card (aka green, visa) now has a 2.5% uncapped (S)BT fee.[/strike] Please ignore this statement. The BT fee doesn't apply outside a special promotion period (eg initial 0%, anniversary offer, or other promotion). Milarky has given further details below. Sorry for any confusion.

    However, I'm not sure if this also applies to the transferring of positive balances. Perhaps others have recent experience?

    For your information, Egg Money (aka blue [but now also green!], mastercard) doesn't charge a fee for BT's or BACS transfers to a current account.
  • I recently had a positive balance on my egg card (visa). I PMd them asking them to BACS the balance to my current account leaving a nil balance.
    If they did then try to charge a fee I would have argued they should not have done so as a nil balance was not left.
    God save the Queen!
    I'll save Elizabeth Fry, Charles Darwin, Adam Smith, Matthew Boulton and James Watt.
  • MilarkyMilarky Forumite
    6.3K Posts
    Part of the Furniture 1,000 Posts Photogenic
    [FONT=Arial, Helvetica, sans-serif] From 19 October 2006, we will charge:

    [/FONT][FONT=Arial, Helvetica, sans-serif] a handling fee of 3% of the amount of each Cash Advance (minimum fee £3.00). If you are an Existing Egg Customer, we will not charge a handling fee.

    a handling fee of 2.5% on the amount of each Transferred Balance made during an introductory offer period or made under a Special Promotion;

    2.65% commission on all Transactions which have to be converted into sterling (see Condition 9.2 of the Egg Card Conditions);

    £2 for each paper statement; and

    if you ask us for any non-standard service, an amount which we will tell you before we provide the service.
    [/FONT]
    The only time a balance transfer would attract a fee would be when it is offered at a special (non-standard) rate of interest. Egg are prone to roll these out unexpectedly - and them email you about it. They tend to last for one month (the period when you can do the transfer, that is) so what you could do is call/email Egg and ask if they are offering any special rates on BTs in that month. That however will give the game away. The alternative is to have your non Egg BT 'from' Egg lined up and then ask Egg for a BT - they will have to tell you if there would be a fee - is there is not - then leave it (eg Say: ''I won't do that just now") and then start your BT to the other card. This will put the positive balance on Egg and you know (from what Egg has told you) that any BT in that month will not attract a fee.

    When it comes to moving a positive balance from Egg you have two options

    1) wait for the positive balance to appear: that means waiting at least one day after Egg actually receives the payment from the other credit card - as balances are shown one day in arrears

    2) anticipate the date of arrival and try to make a 'crossing' (or blind) BT to Egg on the same day as you anitcipate the other card's cash will arrive. This generally takes two days (eg Mon to Wed) and payments from Egg take two days so that it is possible to SBT in just four days (Mon to Wed - followed by Wed to Fri) I've been caught out only once using the 'two day' rule when making crossing payment from Egg - it took 3 days for a payment from Citibank to reach the Egg card instead of the expected 2 - so I ended up paying a single day's interest. [Incidentally: Nationwide to Egg was consistently 1 day for some reason so that SBTs from NW took only 3 days]

    Halifax One to Egg: 2 days
    .....under construction....
This discussion has been closed.
Latest MSE News and Guides

Homes, hornets & high heels

This week's MSE Forum highlights

MSE Forum

Kids eat for 'free' or £1 this summer

Little ones can enjoy hot meals for less

MSE Deals