egg card

Legacy_user

when i go to Egg Money admin then Transfer a balance then [FONT=arial,helvetica]Current account / overdraft[/FONT] i want to transfer my postive balance 9k but at the top all it says is [FONT=arial,helvetica]credit limit[/FONT] [FONT=arial,helvetica]£3000.00[/FONT] so if i transfer 9k it wont come out my credit limit will it just seems strange it doesnt say a total of 12k on the balance trasnfer screen and does it take 3 working days

cheers

YorkshireBoy

Answered in your previous thread...

http://forums.moneysavingexpert.com/showthread.html?t=903869

Again, so long as you're using your positive balance only, the size of the BT is irrelevant (other than the >£10K which can sometimes require further authorisation).

And yes, transfers are 3 days (as stated in your other thread).

midnite

James,

Egg money is a dual card whereby you can have a positive balance but you can also use it as a credit card.

The credit limit you are seeing is your "credit card" credit limit. i.e. you can have debt up to £3000.

You can transfer out up to the value of your positive balance (your positive balance would be money you payed in less any debt that you have on the card). If you have no actual debt then your positive balance is 9K.

From previous posts you are recommended to transfer less than £9999.99 so no checks are triggered, and yes it will take approx 3 days.

If you have a egg savings account you could transfer to there first to trigger cash back at 1% up to £200 per annum, this however will take another 3 days or so.

System

i also applyed for the abbey zero card its takeing ages to come i have been aproved £2,800 but need it in my current acount before the end of the month if when i do a BT i also transfer 2.5k of my card limit will thier be any charges if i pay the amount off next month in full

YorkshireBoy

jamesdawson70 wrote: »

i also applyed for the abbey zero card its takeing ages to come i have been aproved £2,800 but need it in my current acount before the end of the month if when i do a BT i also transfer 2.5k of my card limit will thier be any charges if i pay the amount off next month in full

If your BT to Egg Money (from your current account) creates a negative balance, then yes you will incur interest on the amount of the negative balance only. There will not be a fee for the BT.

http://new.egg.com/visitor/0,2388,3_79766--View_1709-bID_EMonMovingFAQ-dva_1,00.html#howdoimakeawithdrawal?

System

did the transfer yesterday about 2.45 think it said they would email me with updates is this normal not to get an email until know and my postive balance is still showing is this normal

cheers
james

System

is this correct postive balance still showing on my egg card and moneys ment to be in my current account 2moro

CannyJock

Think I saw something similiar transferring money from my Egg Money to my Egg Saver account - money shows in Saver account and in Money account at the same time, sorted itself next day. I think it's just that there's a lag in the statement because it's not real-time.

System

can any one also confirm that if i go to Egg Money admin then Transfer a balance then [FONT=arial,helvetica]Credit card or store card[/FONT] thier are also no fees or costs on postive balance need to pay my halifax off soon and how many wworking days would it take to do this or would it jsut take the same time as going to my current account

thanks

Milarky

YorkshireBoy wrote: »

If your BT to Egg Money (from your current account) creates a negative balance, then yes you will incur interest on the amount of the negative balance only. There will not be a fee for the BT.

http://new.egg.com/visitor/0,2388,3_79766--View_1709-bID_EMonMovingFAQ-dva_1,00.html#howdoimakeawithdrawal?

But there is a fee now on EM balance transfers

7.2 We will charge:

• a handling fee of 3% on each Transferred Balance, or less if we tell you so;
• http://new.egg.com/visitor/0,,3_79060--View_1643,00.html

This doesn't apply to positive-only balances but surely does apply if you are 'borrowing' (incurring any negative balance)? In other words, 'balance transfer' £2800 of a £2500 positive balance and you have 'borrowed' £300 and the fee would be £9 (3% of £300)

dbdragon

Just a quick question, kind of relating to this thread. If I want to put money into my egg money account from my debit card, I transfer FROM the debit card TO the egg money card right? This isn't a balance transfer is it, which would happen the other way?

Sorry, I'm a complete noob to this.