Urgent question re egg money sbt

aliasojo

Sorry, I asked this on another thread but no answer yet and I need to know asap as I've just had a phone call telling me a family member is ill and I need to deal with this before I leave for down south.

Can the Egg Money card hold any size of positive balance regardless of the amount of credit limit? I realise the credit limit technically has nothing to do with holding a positive balance but wondered if there was any sort of clause somewhere that states you can't + balance more than your limit?

Egg Money limit is £3k, I want to put a + balance of £5k on it then transfer to current ok. Ok to do that? (Old Egg money acc btw , not under the new t's& c's).

TIA.

izools

technically you aren't allowed to put it into credit atall any more but they allow it and there are yet to be any negative reports of a positive balance being returned to sender as of yet.

aliasojo

Yes that's what I read so I was going to chance my arm, I just didn't know about the amount? Does it make any difference?

izools

I'll have to pass on that I'm afraid

CLAPTON

why would you put 5k on your card and then take it off again?

tipsychick

Yes, you can put it in credit by any amount. It has nothing to do with the CL.

I make sure not to spend on the card for a few days before I do a SBT, so I know exactly what the balance is. Don't accidentally take it into negative territory when doing the SBT or you will be charged.

SBT facility (on old EM card at least) was all working fine in December 2010 when I last used it.

jonesMUFCforever

tipsychick wrote: »

Yes, you can put it in credit by any amount. It has nothing to do with the CL.

I make sure not to spend on the card for a few days before I do a SBT, so I know exactly what the balance is. Don't accidentally take it into negative territory when doing the SBT or you will be charged.

SBT facility (on old EM card at least) was all working fine in December 2010 when I last used it.

No you cannot put a credit card in credit especially by £2k unless expressly agreed by the card issuer in this case Egg.
You used to be able to do this with Egg and I rememeber they use to pay inbterest on it too but the T&c have now changed.

YorkshireBoy

jonesMUFCforever wrote: »

You used to be able to do this with Egg...

You still can, in practice.

...but the T&c have now changed.

Indeed they have. They now say...

You are not permitted to have a credit balance on the Account. If this occurs, we may return such balance to you, usually by making a payment to the account from which your Direct Debit is taken.

http://new.egg.com/visitor/0,,3_79778--View_1666,00.html (condition 11.1 [last sentence])

So, the way I read that is they'll even make the SBT for you.

aliasojo

Thanks all. I've given it a go, will update when I find out if it still works or not.

lisyloo

why would you put 5k on your card and then take it off again?

Presumably to use it as a "mule" card.
So you can do a BT but not an SBT on another card.
So BT to EGG then SBT from EGG to current account.

aliasojo

Quick update in case it helps anyone else.

£5K transfer from Barclaycard to Egg Money went through ok, account showed positive balance.

Transferred the £5K to current account using the online balance transfer option on left of screen.

Recent transaction screen showed £5K as a BT. No charges or fees listed.

Process obviously still works.

Thanks to all for help.