Newbie needs clarification re. Egg Money - stoozing

indierocker85

Steve1981 wrote: »

yorkshire Boy - I know its not exactly in the right place - but it does follow on from the above - I've been using the site below to have a read through and it is clearing things up fo me - hopefully it will help me clean up to:D


http://www.matchedbetting.co.uk/

I agree that matched betting is a very profitable process, and if you are in a bit of debt. It can certainly help, but do be aware, you musn't think it will make money fall from the sky, as it won't.

dave_wolves

Guys, as a double check I emailed Egg Money the other day and got the following response.....I'm still not clear on the fees though so does anybody know what the fees are for transferring money to my current account?

Dear Dave
The Egg Visa and Egg Money World MasterCard both allow balance transfers to current accounts.
I'm unable to tell you about fees as this email service isn't secure and I'm unable to access any of your details.
If you're not an Egg customer yet, then you're able to view the fees for balance transfers while viewing the introductory offers on the Egg Website.
Thanks for your email.
Regards
Hayley
Internet Customer Services

YorkshireBoy

dave_wolves wrote: »

Guys, as a double check I emailed Egg Money the other day and got the following response.....I'm still not clear on the fees though so does anybody know what the fees are for transferring money to my current account?

If you're moving your own money, ie not creating a negative balance, then there is no fee payable according to reports on the stoozing website.

If you're making a BT to either product that will create a negative balance then any fees applicable are detailed either on their website (if you're not an existing customer) or in your credit agreement (if you are an existing customer).

dave_wolves

YorkshireBoy I'm probably being completely thick here, so if I just get an Egg Money card, ask them to transfer "x" amount into my current account, am I incurring a charge?

YorkshireBoy

dave_wolves wrote: »

...if I just get an Egg Money card, ask them to transfer "x" amount into my current account, am I incurring a charge?

No, but you will incur interest at 8.9% pa fixed for the life of that balance.

Have you read the Egg Money T&Cs and FAQ on their website?...especially this FAQ...

Is there a fee to make a balance transfer?

No, not at the moment although a balance transfer fee may apply on special promotions you may receive from us in the future.

http://new.egg.com/visitor/0,2388,3_79766--View_1709-bID_EMonFAQPayTransCredLim-dva_1,00.html#isthereafeetomakeabalancetransfer

Apologies, I thought you were wanting to stooz using the card, ie use it as a mule, not take a cheap loan.

dave_wolves

not at all YorkshireBoy, it was going to be used as a mule, and I intend fully to transfer the debt from the Egg card to a 0% balance transfer card ASAP, just wanted to know would there be an initial charge for doing the Egg transfer to my bank account? Thanks very much for the info......the way I read it then is as long as I transfer the debt from the Egg card to a 0%BT AS SOON AS they ok the move to my bank account, I'm ok? Sorry for the simple questioning, just want to be absolutely sure......

CannyJock

dave_wolves wrote: »

not at all YorkshireBoy, it was going to be used as a mule, and I intend fully to transfer the debt from the Egg card to a 0% balance transfer card ASAP, just wanted to know would there be an initial charge for doing the Egg transfer to my bank account? Thanks very much for the info......the way I read it then is as long as I transfer the debt from the Egg card to a 0%BT AS SOON AS they ok the move to my bank account, I'm ok? Sorry for the simple questioning, just want to be absolutely sure......

Would be better to move the money from the 0% balance card to the Egg Money card first. Then do the move to your current account and you won't get any fees or interest from Egg at all.