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Egg.com - my favourite on-line bank
egg.com

Member Name: cswann
Product:
egg.com
Date: 02/10/00, updated on 02/10/00 (318 review reads)
Rating:
Advantages: Smart, easy to use website + best interest rates
Disadvantages: None that I know of
I like the egg website. It looks good - no garish colours or busy boxes (like you'll find on smile's website) - it's easy to use, too.
The interest rates are excellent. The online instant access savings account gives you 6.3% (no cash card), and 5.3 % if you opt for the cashcard - both excellent rates at the moment.
A current account is more convenient for cheques, direct debits etc, but if you have a bit left over, opening an egg account as well is a good idea.
There's no minimum balance - you can put as little in as you want - and transfers to your nominated account are very quick and easy (it's not quite 'instant' withdrawal but it's only a couple of days), and there's no penalty for withdrawals, unlike a lot of savings accounts with decent interest rates. You can make deposits by post, which I find very convenient - saves all that going into a busy branch somewhere.
Any correspondence you get from egg is always really easy to understand, written in plain English. You can get monthly statements via the internet, very easily - you just need to enter your details first for security reasons. The main plus here is that you don't have to type in all those account numbers / sort codes - like you do with the Smile internet account. Everything you have to type in is information you should be able to remember. Recently I haven't had any problems logging in, either - in the early days (I've had the account 2 years now) it sometimes got very busy and hard to get in, but it's fine now.
If you're interested in that kind of thing, the website has a shopping zone, and if you use you egg credit card to buy things on there, you get extra cashback. And there's some good retailers on there, such as CD Wow, WH Smith online, etc. May be worth investigating if you buy a lot of things anyway on the internet.
Summary:

24/04/01
Well I tried to open a savings account with them and went through the whole application procedure and then they decided not to contact me. I have however started recieving the email Eggzines but no progress on the savings account and this has been months. Ian