Egg Money Card - Cashback Query

Afahmaep

mor7s wrote:

I have just logged in to my egg money account and there was a £200 credit yesterday so looks like my 2007 cash back has been paid; statement simply says "Adjustment TC 280 -£200.00". My March statement isn't due for another week but i am arranging to switch the cash to egg savings then out to my current account to bear fruit as cold hard cash!

Happy days :T

mor7s

If your EGG MONEY account is in CREDIT you can access the cash as a CASH WITHDRAWAL via ANY free link machine. There will be a prompt saying you MAY be charged a fee but this will not happen as you are in credit.
You can then deposit YOUR cash anywhere you wish with no loss of interest.
I have moved over £10,000 this way during the last year with NO charges and the daily limit is £500 often making the withdrawal from within the recipient bank.

YorkshireBoy

Afahmaep wrote:

There will be a prompt saying you MAY be charged a fee but this will not happen as you are in credit.

This will not happen anyway, since Egg Money does not charge a fee for ATM withdrawals - whether you have a positive or negative balance.

You would be charged interest (from day 1) on any negative balance created/increased as a result of the withdrawal though.

TheDink

Why don't they just label the transaction as "cashback"??? Adjustment TC 260 really threw me when I checked my statement this morning!!

mor7s_2

Didn't think to use the ATM route, mind you not sure I know my PIN and for the sake of a few pennies in interest on £200 I'll stick with the savings transfer route. Worth bearing in mind for next year though.

Thanks folks

mor7s

neetugopal

Can someone please confirm if cashback loophole from Egg money to savings is still working?

Many thanks

Milarky

neetugopal wrote:

Can someone please confirm if cashback loophole from Egg money to savings is still working?

Many thanks

That won't be known until the first statement after today - and assuming someone has used the loophole during this month. A short time to find out in other words.

kalos

Got my cashback credited too, and I've already moved a sizeable sum from Money to Savings.... I've 'diarised' to let people know if the 'loophole' is still working when I get a statement early next month. Here's hoping.

neetugopal

Thanks for replies. I got my first stoozing card from MBNA. I was surprised to find out that they transfered the money straight into my current account. From there the money has already gone into NS&I ISA :j

cashprincezac

The loop hole in Eggs system is working still, just got my 200.00 for last year credited, then changed my statement date to early March and already at 120.00

EagerLearner

I got mine a few days ago and have asked them to transfer it directly into to my current bank account, which they have already put in process.

Why is everyone else first putting it into Egg savings and then moving it? Is there a benefit I should know about?

Also, am I better off stopping spending on this 1% cashback card now and stoozing on my new 9 month interest free credit card with RBS? I immediately transfer any money spent on the c/card to my IceSave account which is 5.7% right now.