Egg 95% Maximum Balance Transfer

YorkshireBoy

Apologies if covered elsewhere (I did search!), but I've found out tonight that Egg are now limiting BT's to 95% of available credit limit for ALL customers - not just those who applied post-May 1st.

Apparently, the T & C's for ALL customers were changed on May 31st to incorporate this 95% clause. I've done at least 1 (and possibly 2) SBT's since 31st May (the last being around a week ago) and been able to transfer the full 100% - maybe their systems have taken a while to fully implement the changes?

I had checked these T & C changes before (when prompted to do so on logging out), but it appears the 95% clause is hidden away in the FAQ section - and how many people check the FAQ section once they're up and running?

So, I'm looking for a "loophole" now - bearing in mind the BT is limited to 95% of *AVAILABLE* credit limit, can this be interpreted as being able to carry out a further BT of 95% of the 5% remaining *AVAILABLE* credit limit (if you see what I mean?).

Has anyone done this, or does anyone have a view?

PS: Apparently, you can use the remaining 5% for purchases and that's OK.

aliasojo

That's very strange, I just transferred £4950 yesterday (from £5000 credit limit) with no mention of a 95% transfer limit.

You would think that they would be quicker off the mark implementing this, if the change was made on 31st May.

Hobo_2

For pre-fee customers, this seems to have been sorted on my anniv got limited to 95%, then after reading this thread was able to BT remaining 5%

http://boards.fool.co.uk/Message.asp?mid=9352931&sort=postdate

YorkshireBoy

Hobo wrote:

For pre-fee customers, this seems to have been sorted on my anniv got limited to 95%, then after reading this thread was able to BT remaining 5%

http://boards.fool.co.uk/Message.asp?mid=9352931&sort=postdate

Thanks Hobo, I'd seen that thread - but nothing on this board.

You've obviously proved my theory that the remaining 5% "can" be done. However, I've sent them a secure message (with supporting material) asking them to reconsider. If they still refuse, I'll try online to see if their system can be "defeated" by a smaller BT request. I'll you all know how I get on.