Egg Money Manager

innovate

Any Egg account holders here who use the Egg Money Manager ? I am thinking of signing up (Egg give £10 for sign ups before Oct 1) but not entirely sure whether it's a good idea to register my non-Egg accounts with Egg.....the terms and conditions look ok but I would feel more at ease with any personal recommendations :cool:

Quandram

Hi,

I've been using the Money Manager for ages (forget how long but probably a couple of years). I haven't experianced any real problems, occasionally it can't connect to some of the other banks but those are only ever temporary. Find it useful to be able to see everything quickly in one place. If you use multiple computers you have to set it up multiple times (I only use it at home as although i think it's ok i prefer not to have it link in to all my other accounts on a computer that others can use easily).

Wish they'd tried to bribe me with £10 when i signed up!

James

innovate

Quandrum, thanks. Did you experience an increase of marketing bumpf from Egg? Do you think (or know) whether they store and analyse your account balances with other banks / credit cards etc?

MrChips

I have Money Manager. Signed up about 3 months ago just for the £10 bribe thinking that I wouldn't actually find it useful. However I would now recommend it very highly. If you have 15 or so accounts on the go (current accounts, savings accounts, isas, credit cards) it is really great to see them all in one place. You can also access them at the click of a button without having to type all your passwords and pins in (once you are logged in to Money Manager of course!). I haven't received any rubbish from Egg either - in fact I would say I receive less (if any) junk from them than any other institution!

Only slight drawback I have found is that I can never remember half my passwords now cos I hardly ever have to use them. Can be frustrating when using a different PC!

On a side matter - can anyone else get Egg Money Manager to hook up to Northern Rock Online Tracker Savings account? Mine just won't do it. I figure it is cos NR online banking is VERY security conscious and relies on various pop ups and downloads before you can log in??

innovate

I can see the advantage of the single log on (and have my actual access data neatly written down and locked in a safe). If someones stoozes with Egg cards, does the use of EMM potentially work against you?

Stonk

MrChips wrote:

On a side matter - can anyone else get Egg Money Manager to hook up to Northern Rock Online Tracker Savings account? Mine just won't do it. I figure it is cos NR online banking is VERY security conscious and relies on various pop ups and downloads before you can log in??

It's not that NR are security-conscious. Their web system is no more or less secure than anyone else's, but it does appear to have been designed by morons who thought (among other things) that ignoring readily-available techniques and starting from scratch instead was a good idea, and that doing everything in a non-standard way was somehow really cool.

I'm not in the least bit surprised Money Manager cannot hook up to it. It's bad enough for a human most of the time.

mary

I've used the EMM daily for the last 18 months. Can only agree with previous comments. Saves time logging individually to a myriad of accounts. Yes, occasionally one or other banks sites are temporarily not working, probably not a fault of Egg anyway. Never received any extra mailshots etc. Would thoroughly recommend it.

scooter74

Hi,

I didn't sign up to Egg Money Manager because I read their terms and conditions. In there was a section with words to the effect of saying they could monitor your accounts (keep tabs on how you spend, who and where).

Regardless of whether they might or might not share this information with equifax, experian or other agencies, is it not better to be sure that no one bank/organisation can see the way your organise all your money.

Question: Why would they want to offer £10 for you to use the service?

booogle

I think it's generally a good service, but I can't pursuade them to add citicards.co.uk which is annoying for me as it's my primary CC

innovate

scooter74 wrote:

Regardless of whether they might or might not share this information with equifax, experian or other agencies, is it not better to be sure that no one bank/organisation can see the way your organise all your money.

Question: Why would they want to offer £10 for you to use the service?

Agree with you, scooter74, those are my concerns as well. Egg will not know the details of the transactions on each of my accounts, but at any time I use EMM, they can capture my accounts' balances. From an initial snapshot on my first usage, they can then build a history of my finances and analyse them - probably better than I can do it myself!

Not sure I want to give Egg that privilege for a mere tenner.......

Mind you, I have signed up to bag the tenner! There is nothing in the terms that says you have to use EMM more than once, and with more than one non-Egg account

MrChips

Just to play devil's advocate here, what's the worst that can happen if they do "analyse" one's finances? All I can think of is they may target me for some of their products they might think I am more likely to go for? They may even be good products which will suit me, and I can always turn them down.

Or am I being naive?