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Let Egg look after your bread - updated

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5 Mar 12th, 2001  (Oct 25th, 2001)

15 Ciao members have rated this review on average: helpful

Advantages:
easy, quick, good interest rate

Disadvantages:
none really

Recommendable Yes:

Detailed rating:

Efficiency of service

Competitiveness of charges/rates

Online - Content/organization of site

pagan

pagan

About me:

Hi- I'm back!!! And trying to get thousands of people to log into the MUSIC 20Q site http://ukmusi...

Member since:06.03.2001

Reviews:107

Members who trust:58

I opened an Egg savings account just over a year ago and have been thoroughly satisfied with it.

I chose the internet only option as it had the highest interest rate (currently 4.5% - it was 7% when I opened the account though!! But all banks are putting their rates down so you can't really complain!)

You can choose to have one with a cash card and also letters through 'snail mail' these have progressively lower interest rates (only slightly though) I applied on line and they sent some initial forms through for my signature, direct debit details etc.

I decided to save a regular amount each month by Direct Debit, but this also means you can use the same account to make ad hoc payments in or out. As my job involves commission this is great, if you have a good month you can add a bit extra in. I also put any Ciao, Dooyoo, Bigrag etc payments into it (least said about that the better at the moment!)

When making a transfer on line they ask a few security questions - all relatively easy stuff. Then you make your transfer - if you do this before 5pm they will start the process that day. You will need your Switch card with you as that is presently how they are moving the money. I am finding money is taking about 3 to 4 days to reach the target account, which I think is reasonable.

I got my interest at the end of my first year (September 2001) and was very pleased with my little sum!

As yet I have only set up one Egg account but you can set up as many as you want and name them so you keep focused on what it is you are saving for. I particularly like this bit as my 'House Deposit' title gives me that extra nudge to save a bit more as it reminds me what I want!! 

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Comments about this review »

Dave39 15.09.2002 22:49

Last night, I tried to apply for an egg credit card. It came up that I had to ring them up to register a security thing. I did after various attempts of speaking to a foreigner who couldn't understand english. Then I was passed to an operator who let me give her a password. Then I had to log on again, then the next process asked me for my last address'es postcode. God knows why, I have lived there for 15 years. Then it came up to ring them again. I got fed up and gave in.

Nick.A 14.03.2001 00:56

Just had a quick look at your reviews, thanks for the email it's nice when you get feedback like that. Basically I have been looking for a new media type job but I found that they wanted more skills and experience so I have been teaching myself some programs. I now am thinking of doing some travelling as I don't know if I could bare to stare at a screen all day when I havn't seen much of the world. Like you I have allot of things I want to do and I am worried that if I do get a job now it may stop me from doing all this. Are you looking for work? I havn't had much joy with the job sites so I think I will get some industry magazines and contact people that way. Thanks for the message, all the best. NICK

SusanLesley 12.03.2001 17:48

Great title! Good op too. I set up a savings account with egg to put my notice pay from work in so it would earn me some interest as I used it.



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