Thread: Egg Advice Please

Dear all,

After chasing Egg about a million times for my statements (paid the £10 for the full lot) I got one very small envelope with jsut a summary of accounts in it. Firstly- is this right? £10 for that?

Secondly I asked for statements from the opening of the accoutn with them, they have sent me 5 years and I know it goes back further than that.

And finally, can anyone tell me what I can claim back. is it just unpaid DD'd and overlimit charges?

thanks

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This is probably due to muddle. Best to send secure Eggmail and say you have paid, but still waiting for full statements over 6 years, to which you are entitled by law.

Yes, only overlimit and monthly DD not paid penalty charges are reclaimable, unless you have any special unheard-of charges over say £10. Cash advances charges are lawful and unreclaimable.

Thank you. I ahve done just that. Its not the statement type that bothers me really as I can work out my charges through this, I am more annoyed that they have only sent 5 years which i find quite strange.

Any tips on how to work out the interest accurately would be helpful.

If you know Excel enough to use computation formula, e.g slot C2 contents to depend on B1 contents, then you can build your own calculator. Full statements will show the monthly compound interest rate fluctuating from time to time. If you do not have full statements this will be a problem. Obviously you can only reclaim only so much unlawful interest as was actually levied on you in the first place. If over several years £500 unlawful charges were levied, with theoretically £300 unlawful interest accrued, but in practice only £100 was levied (because you constantly reduced your account balance, say down to £300) then you can only reclaim £100 unlawful interest. In this scenario things can get a little complicated, because interest was levied on both unlawful interest and lawful spending. Hopefully nobody is going to split hairs and fight over a few pounds over or under.

Vampira also has Excel spreadsheets to calculate Contractual Interest.

well I sent a SM to Egg to tell them that they have only sent me 5 years of statements and in a format that I shouldnt have paid £10 for. They said they would get back to me. It has now been 41 days since my initial request and I am starting to get a little angry. I am tempted to claim the 5 years work (and thank you Mistermind the excel spreasdsheet worked a treat) but the pure stubbornness makes me want to wait for the extra year.