Egg Money / MoneySavingExpert.com Discussion Area

Matt83UK_2

Yep, just like withdrawing on an arranged overdraft.

WSO

I pay the balance of my card each month but can't quite work out if I will be charged the interest on any Cash Advances I make (I understand there is no fee, but suspect I might be charged the interest so might be best to use it as a last resort).

Also, does anyone have experience of using the new Egg Money card to get cash when there is a negative balance. OH tried to use it at his favourite hole in the wall at a Yorkshire Bank but didn't go ahead with it since it mentioned he would be charged. Does anyone know who is levying the charge he is talking about? (I wasn't there and he didn't tell me if it told him what it would be). Are there any ATM networks I should be going to or avoiding and which banks use them? (Only one I know off hand is Link)

The query about the interest on the card I can use secure messaging for if necessary - however I would expect to get a "we can't guarantee that an ATM network or bank would charge for giving you money on your credit card" response if I were to ask them where I can withdraw money... so if anyone has any real world experiences with getting cash from their Egg Money card it would be appreciated.

Voyager2002

Do EGG deduct tax on that 4 per cent interest they pay when you are in credit? If not, that would make them even better than we know they are already.

pollag

So how much do I have to spend to get the £200. LOTS >?????? +-

asandwhen

£20,000 at 1% - although in nov/dec its 2%

charlie12

Voyager2002 wrote:

Do EGG deduct tax on that 4 per cent interest they pay when you are in credit?

Yes they do, if you're not eligible for tax-free interest when your income is less than the threshold.