Egg Money BT

chocomonsta

Can someone advise me

I have an egg money card that I have never used - it has a credit limit of £1,700

I have just been offered a BT of £2,750 with Tesco.

Can I transfer the £2,750 to Egg money? How long do I have to wait to transfer it to another account and would I be charged for this?

Thanks in advance

sicker

Yes, you can do a balance transfer to Egg Money which would give you a positive balance there earning 4% interest paid monthly. You would probably be charged a fee by tesco card and would have to make minimum monthly payment to that balance. You would also gain 1% cash back paid yearly in March on your Egg Money card on all purchases.

John

chocomonsta

but would I be charged a fee by Egg if I then transfer the money to another account?

Thanks in advance

sicker

Is you Egg Money card not linked to your current account? If it is and you don't go to a negative balance (on Egg Money) you should not be charged a fee.

YorkshireBoy

Egg Money doesn't charge a cash withdrawal fee/BACS withdrawal fee/BT fee, whether you have a negative or positive balance...

How do I make a withdrawal?
...<snip>...if a withdrawal gives you a negative balance you will be charged interest on the negative amount, but we will not charge you a fee.

You can also make a withdrawal by BACS (four day electronic transfer), to do this, please call us on 08451 233 233 and we'll arrange it for you.

You can also make a balance transfer to your Egg Money account (Egg Money admin/transfer a balance/current account) from a current account (the one you pay your DD from is best IMO).

PS: John (sicker), check your PM's mate.

sicker

YB Have checked and replied but not sure if it 'went', please advise if you didn't get it.

John