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Balance Transfer Fee

Last post Tue, Jul 25 2006, 10:24 PM by ziknik. 2 replies.
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  •  Tue, Jul 25 2006, 10:24 PM

    Re: Balance Transfer Fee

    They never mentioned that there was a fee during the transfer, i did it on the website.. I wouldn't have gone through with it if i had known. I would have asked them return the money to my current account
    • Post Points: 5
  •  Thu, Jul 20 2006, 3:14 PM

    Re: Balance Transfer Fee

    Technically this transaction is a cash advance so it looks like Egg have levied a cash advance fee - Egg charge a 2.5% handling fee. However since this was your money, not theirs I think you should dispute this as its not fair to charge a fee on transferring your own money. Also they should not be charging any interest unless your account is in the red. Ask them to clarify how they treat cash advances when the account is in credit and explain that you made a mistake in the first place when you mistakenly transferred too much money into the account and were just trying to correct this mistake.

    They should also have told you they were going to charge you this fee when you asked them to transfer the money to the other credit cards - did they tell you this?
    • Post Points: 20
  •  Wed, Jul 19 2006, 10:36 PM

    Balance Transfer Fee

    I have had an egg card for years and i have not really been using it. Recently i got a borrowed some momey to pay off a couple of other credit cards and accidently paid all the money on to my egg card leaving it £7500 in credit (thats what you get for trying to pay credit cards half asleep. I'm alway cocking up my payments, but thats another story).

    Instead of asking egg to return the money to my current account, I balance transfered the money to the credit cards where it was meant to be.

    I got charge £132 for balance transfers.

    I didn't know there was a charge for balance transfering (I would have expected it if it were some kind of 0% deal) and egg never mentioned it.

    Given that my account was in credit and the money could have been returned to my current account without charge; Am I right to ask for my £132 back and all interest accumilated on the money?

    Is there anything I can do about it?
    • Post Points: 20