Egg money 'hidden fee'

daveandstella

Hi all,

Just to alert you to what I think is a hidden fee emerging on Egg Money cards - particularly if you are 'stoozing'.

I recently put a £8,000 sum on an card interest free for 15 months with no balance transfer, used an Egg money card to pay my bills and put the cash into a 'high' intrest account. Done it a few times - great.

However, today I noticed a 50p debit on my Egg money statement for 'minimum interest charge'. Having queried it I am told that if the interest in any month is less than 50p then it levvies a charge to bring the interest payment to 50p - This is obviously something new as I have never paid it before.

Compared to the interest I get and the £200 cashback from Egg this isn't a lot but it is a £6.00 a year fee that has just been dropped in - No doubt they told me in one of their 'changes to your terms and conditions' bumph that comes through from time to time but it still seems unfair - If it's a fee, say so.

Rant over.

Paul_Herring

daveandstella wrote: »

This is obviously something new as I have never paid it before.

It's not new; it's been there for ages.

Compared to the interest I get and the £200 cashback from Egg this isn't a lot but it is a £6.00 a year fee that has just been dropped in

You only get charged the 50p if:
1) You are due to pay any interest and
2) The amount of that interest is < 50p

So if you're not due to pay any interest you won't get charged, if your interest due is > 50p, you'll get charged just the interest.

This 50p only gets put there if the interest due is 1p-49p.

YorkshireBoy

daveandstella wrote: »

No doubt they told me in one of their 'changes to your terms and conditions' bumph that comes through from time to time

They did...but being as it was four and a half years ago (14th November 2006 to be precise...and just 14 months after launch!) you've probably forgotten.

From this very website...

https://forums.moneysavingexpert.com/discussion/319441