Advantages: 24/7 access online, excellent customer service Disadvantages: Not all accounts include offline access
...I took a look at Egg because they have become such a well-known, trusted bank. Most people will have heard of the Egg credit card (0% balance transfers for 6 months - "the card that loves you back") but they may not realise that Egg provides a whole range of standard financial products including mortgages, loans, ISAs and, crucially, savings accounts.
Accounts Available
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Egg offers 4 different types of savings account: Internet, ... ...customers who already hold an Egg ISA.
Opening An Account
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I chose to apply for the Egg Internet account. Applications are done online; the questions are fairly standard apart from the security questions. You must give your date of birth, mother's maiden name, memorable date, memorable address and password. I suggest you choose relatives' anniversaries and addresses, as I find it embarrassingly easy to forget anything else. Another ...
ariadne 12.01.2003 (17.08.2004)
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Ciao members have rated this review on average: very helpful Review of Egg Accounts
Advantages: Great interest rates, can view your balance whenever you want Disadvantages: Non
...field really, Smile, Cahoot and Egg being the main contenders. Egg seemed the best choice to me, they offered the highest interest and also, you didn’t need a current account with them to open a savings account, you can literally just have somewhere to put your money, plus, on top of that I get a gross interest rate of 4.0% which is guaranteed until 2007!
Signing up to Egg was easy peasy, I simply filled in an online form that took about 10 ... ...prepaid envelope and your done. Egg will then open an account for you on receipt of your signed form and your away.
The website is very easy to use and for extra security you are asked to fill in 6 fields before you can get into your account area, so that added bit of security is there, don’t let it put you off though, it takes literally 30 seconds. Once inside your account you can view all the services your signed up for, and then view them ...
GR-Design 25.11.2002
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Ciao members have rated this review on average: very helpful Review of Egg Accounts
Advantages: High Interest Rates Disadvantages: Its called egg
...I have been with Egg since shortly after Prudential laid them a couple of years ago and initially opened account merely chasing the high interest rates. I have a telephone and Internet account which offers a lower rate of interest than the Internet only account but I feel offers greater accessibility. The savings account still offers a competitive rate of interest although not the highest available in the market, yet I have stayed with Egg simply ... ...the treatment I received.
Egg has grown (or hatched?) since I first joined and now offer various other financial services, mortgages, credit cards, ISAs etc. The credit card offers a very juicy incentive in that of cash back, which makes a pleasant change from air miles or whatever and also has a competitive APR. It has proved very popular in the market place with credit card customers increasing by 70% in the last year.
Egg for me have consistently ...
roons_y 21.02.2001
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Ciao members have rated this review on average: very helpful Review of Egg Accounts
Advantages: Competitive interest rates Disadvantages: No cash card
...can transfer money to another Egg Savings Account, or transfer it to any other UK bank or building society account.
Transfers to other banks/building societies can be made in two ways:
- by BACS. The money will normally be available within 3 working days.
- By CHAPS – Provided you request this before 2pm, the funds will reach your bank/building society account the same day. Egg charges £25 for this service.
However, there is no cashcard linked ...
mandyhaley 14.09.2002
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Ciao members have rated this review on average: very helpful Review of Egg Accounts
Advantages: Great interest rates Disadvantages: none i can think of
...already being a customer with Egg (I have already got their fab credit card) I decided to take a look at their savings accounts to see whether they offer a better account than the one I had. They did.
First of all, you apply online and the process is very quick , with my application taking no longer than just 8 minutes. Questions are straight-forward which is good because i'm a bit thick!!
There are several different types of accounts available, ... ...be paid into either your Egg savings account, a different Egg account (if you have one) or your main bank/building society account. Postal statements are annual but you can always check your balance online whenever you want to. It's simple to make regular payments by Direct Debit too, you just have to fill in the information on your online applictation form. There are many different options available when doing this.
*Standard - With this account ...
java 02.03.2001
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Ciao members have rated this review on average: very helpful Review of Egg Accounts
Advantages: High interest on funds. Disadvantages: Need to transfer between accounts.
...bank cheque account. Open an EGG savings account on the internet. Then when your salary or pension gous into your bank account, transfer all your funds in excess of short term standing orders/direct debits to your Egg account and earn OVER 6% interest on the money.
When you need to present a cheque on your bank account, do so, and immediately transfer the same amount of money from Egg back into your bank account. I find that the internet transfer ...
wiseoldowl 18.08.2000
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Ciao members have rated this review on average: very helpful Review of Egg Accounts
Advantages: A good rate of interest with instant access. Disadvantages: Be careful with your transfers
I have recently opened an Egg savings account. I am impressed so far but have a cautionary tale to tell.
I have recently been forced to leave my job as a result of continued ill health and have received three months pay in lieu of notice. It’s not a lot after 30 years service, but that’s another story!
I wanted to put this money somewhere where it would earn a reasonable interest, but where it would be accessible, as I need it to live ... ...Egg website and read all the terms and conditions and decided that this was the savings account for me. I chose the Internet only account, thus getting the highest rate of interest, currently 6.3% per annum or 6.13% if paid monthly. There is also the Egg Savings Account, which can be operated by Internet, telephone or post – 6% per annum or 5.84% paid monthly. The lowest rate of interest is 5.5% per annum or 5.37% paid monthly on the Egg Savings ...
SusanLesley 07.02.2001
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Ciao members have rated this review on average: very helpful Review of Egg Accounts
Advantages: High interest on savings Disadvantages: Poor customer service and Cahoot offers higher rates right now
Egg has been outstanding for me. I haven't had much experience with them and I only use them as a savings account at the minute - they don't require you to have a current account to do this unlike some. Mine is an internet only account but here are the other possible accounts you can get:-
Internet Only Account:
*6.0% guaranteed interest p.a.
*All 'paperwork' done online
*Check your account any time online through simple user name and password ... ...brilliant, but look at Cahoot for its 7.0% rates and look at First Direct for security, they've been around far longer so may be worth a look if you want be sure they aren't going to collapse overnight and take all your money. Egg surely is safe enough though. ...
leahslad 04.03.2001
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Ciao members have rated this review on average: very helpful Review of Egg Accounts
I started using an Egg current account due to their high interest rates and their connections with Prudential. Joining was easy, and all information they send is clear and concise. I then decided to get an Egg Credit Card. Interest rates on this card are low, but I like to pay my credit card bills in full each month so that I don't incur any interest. This is really simple to do with egg, you just set up a direct debit on line (from your egg or any ...
Advantages: online, good interest rate Disadvantages: slow sometimes, no personal contact without costs
I have had an Egg savings account for some time and have found it a useful addition to my financial portfolio.
All transactions take place online with a direct debit setup to your current account at another bank for transferring money. You can do all of this online and it is fairly simple to do.
The online account servicing can be a bit slow at times but seems to function well enough. there are hidden charges if you call Egg as they charge you. ... ...it has enabled me to keep better track of my savings and transfer money quickly and easily to the best place for me at the time.
The interest rate is also very competitive which adds to the usefulness of this account. they pay interest on a daily basis. read the small print as in all financial transactions and then see if it suits you but it has been good so far for me. ...
rowemg 25.08.2000
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Ciao members have rated this review on average: helpful Review of Egg Accounts
Advantages: great interest rates. 3 days to transfer money. easy to maintain account. Disadvantages: some of you may find the adverts on the website pretty annoying
...have had an account with egg for about 5 years now. I originally had the current savings account. My interest rate was about 4%. I used to get a statement in the post every 3 months. I never took any money out but used to pay by posting a cheque in a deposit envelope. It was all quite safe and I used to look forward to the quarterly statements to see how much I had!
Then I was surfing the net about a month ago when I realised that by switching to ... ...4.6%. I have been with egg for about 4.5 years….and egg didn’t think of informing me of this?! I fixed it straightaway by ringing up customer services. Within an hour I had transferred all my money to an egg internet account. For those of you with no Egg account, you can open an Egg internet account with as little as £1.00.
I had to wait a few days before I was able to log on. The website is pretty easy to use. Its easy to log on, you ...
randhawa 28.12.2002 (29.12.2002)
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Ciao members have rated this review on average: helpful Review of Egg Accounts
Advantages: Secure and efficient website. Disadvantages: The site's layout could be improved.
...my sister to get an Egg account, I was amazed at how easy it was to apply, and to get the account running. Within four days of first applying, the account was up and running. The paperwork was through the door the next day for me to sign, and the day after that I had my money in the account. Transffering money through either a fixed or variable direct debit is simple and easy to do through the secure website. Several pieces of information must be ... ...very secure way of managing your money. This account is perfect for both short and long term investors looking for a high interest rate. With an extra 0.3% given for the 'internet only' option (your choice) on top of the standard 6.0%, it is surprising how much interest can be generated monthly or yearly (again your choice). The communication to staff via e-mail is both quick and informative, when it is needed. (which is rare!) The only negative ...
danradders 21.12.2000
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Ciao members have rated this review on average: helpful Review of Egg Accounts
Advantages: High returns, easy access Disadvantages:
...recently opened an "internet only" Egg savings account due to the 6.3% p.a. return beingf offered on balances of £1+.
I was slightly worried about the level of service I would receive following the adverse publicity in the press recently but was pleasantly surprised.
The account was extremely easy to open via the internet and the necessary forms arrived by post within a couple of working days. All my details were pre=printed and all that was required ... ...and withdrawals directly from the Egg site if you set up a direct debit mandate for your current account. Many other internet savings accounts only permit you to make withdrawals using their system - deposits must be initiated from your current account provider which causes extra administrative difficulties.
Interest is credited monthly or annually, whichever you prefer and on-line statements are available at all times.
All in all I am extremely ...
m.ruegg 13.08.2000
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Ciao members have rated this review on average: helpful Review of Egg Accounts
Advantages: easy, quick, good interest rate Disadvantages: none really
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) ... ...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!! ...
pagan 12.03.2001 (25.10.2001)
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Ciao members have rated this review on average: helpful Review of Egg Accounts
Advantages: Easy to use, excellent instructions and great web site Disadvantages: Website could be brighter and more colourful
...service. I found that the Egg Internet savings account had a good rate of interest compared to most high street banks and I decided to apply online and go for it! Applying was really easy and my information pack came through the post within days.The pack included step by step instructions on how to use my internet account. At first I was a bit dubious because it's an internet account and I was worried about not being able to access my money very ... ...any bank account to your egg savings account. The website is fantastic and very easy to use. It asks you about 6 security questions every time you want to access it, but it makes you feel more secure knowing that all these questions have to be answered in order to access your account online. The website allows you to view statements, update address details, keep an address book of bank accounts, make credit/debit card payment to your egg account ...
gouldts 23.09.2002
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Ciao members have rated this review on average: helpful Review of Egg Accounts