NEWS****Egg Credit Cards Bought by Barclays Bank****NEWS

[alfwithhair]

http://www.bbc.co.uk/news/business-12612927

 

Could have implications if you owe Egg money and bank with Barclays

[maroondevo52]

Never rains but it pours !!!

[MARTIN3030]

Lets see what terms and conditions will follow.

[mills1]

Thought I saw that somewhere this morning.

Dont have an account with Barclays but have a credit card account which has been dormant for some time.

[raydetinu]

yep I owe egg and have been paying £1/month and bank with barclays where my benifits/pension are paid into.

There maybe trouble ahead if they pinch the money out of current account to pay of egg debt!

[joncow75]

I've not managed to get on here over the last few weeks, so just seen this. The one bit of light I can see from this is that Barclaycard caved in instantly when I asked for my charges back and paid money back onto my card. All 800 or so quid of it, so maybe, just maybe they might do the same again if I wait a little bit and ask nicely for the same back on my Egg card. Wishful thinking, lol!

[msowing]

I havent been around for a long time due to illness.

 

Just came across this and i am now very worried.

 

I bank with Barclays both my Carers allowance and my son's DLA go into my account and there is a saving account in my name and a friends name [its for our ladies darts team savings club and there is over £2000 in there] and have both an Egg CC and loan im paying both token payments of £1 a month. I also read that they haev now bought MBNA whom im also owe but I havnt paid anything on that for a while coz they dont have an agreement.

 

Can they take any monies from my current account even though its only benefits going in [most of which is not mine] and can they touch the saving account?

[victoria_siempre]

Hi msowing

 

Better safe than sorry; and it's safer to open a basic account and savings account elsewhere.

 

x

 

v

[msowing]

Hi msowing

 

Better safe than sorry; and it's safer to open a basic account and savings account elsewhere.

 

x

 

v

 

Thanks for that VS. Sorry it took so long to reply not been well. Have tranfered all monies from Barclays just to be safe.

[tortilla]

Hi all

 

just a thought I have today received an e-mail from egg telling me my account has been sold to barclays, and that they will run it through thier barclaycard. As I have a barclaycard that I maintain, and a terminated egg card that I don't does that mean that barclaycard will/can transfer the balance of the egg card onto the barclaycard?

 

Cheers

[stevehatesbankers]

raydetinu, beware because Barclays and Lloyds are like leeches and will empty your account

[stevehatesbankers]

tortilla, not sure if they can transfer it across but they will go into your account for the minimum payment.

 

I also received the same email from Egg. Used to bank with Barclays but account closed down now

[phatram]

This has just arrived.

Ownership of your Egg Card account

XXXXXXXXxxxx has been transferred to Barclays Bank PLC.

Dear Mrs Phatram

As you may be aware, on 1 March 2011 we announced Egg credit cards were to be sold to Barclays Bank PLC. As a result of this, the ownership of your Egg Card account transferred to Barclays on 29 April 2011. The sale involves the assignment of all Egg Banking PLC's rights as lender to Barclays Bank PLC, who have agreed to perform the obligations of Egg Banking PLC under the terms and conditions of your Egg Card Agreement. Barclays will manage your account through their credit card operation, Barclaycard. From 29 April 2011, references to 'we', 'us', 'our' and 'Egg' in your Egg Card conditions became references to Barclays Bank PLC and references to 'Group' will mean Barclays and each Barclays Affiliate including but not limited to Barclays Bank PLC and Barclaycard.

 

Your account has been transferred to Barclays Bank PLC as there's still a balance remaining. You should continue to make payments to your Egg Card in the usual way. If you're in any doubt over this please contact us by sending a secure message - just log in to 'your accounts' at www.egg.com clicking on the option to 'Contact us' then 'Send a message' and finally selecting 'Egg Card'.

 

If you have any other products with Egg, such as Egg Savings, Egg Insurance, Egg Mortgages or Egg Loans, they are not affected by this announcement and will continue to be provided by Egg Banking PLC. Any Direct Debits you may have set up with Egg will be collected as usual.

 

Things you need to know

Now that Egg credit cards are part of Barclays Bank PLC, we want to take this opportunity to clearly set out for you what this means with regards to how Barclays Bank PLC may use your personal information. Barclays Bank PLC will continue to process your information in the ways already advised to you by Egg. You can view an information sheet from Barclaycard on the Egg website called 'how we use your information', which sets out in some detail how Barclays Bank PLC may use your personal information, as we feel that it is important to be transparent.

 

how we use your information >

 

Where you have already indicated a preference not to receive marketing communications those preferences will continue to be observed by Barclays Bank PLC. You may of course let us know at anytime if you wish to update your marketing preferences.

 

For more information, please see our frequently asked questions.

 

frequently asked questions >

 

If after reading them you have any further questions, please send us a secure message by logging in to 'your accounts' at www.egg.com, clicking on the option to 'Contact us' then 'Send a message' and finally selecting 'Egg Card'. All you have to do then is select 'Barclays transfer question' from the drop-down box.

 

In the coming months, Barclaycard will get in touch to give you more information about the transfer of your account. Both Egg and Barclays are committed to ensuring the transfer of your credit card account to Barclaycard will continue as smoothly as possible.

 

Yours sincerely

Harald Schneider

Head of Egg Credit Cards

David Chan

CEO Barclaycard Consumer Europe

This private and confidential email has been sent to you by Egg. Egg Card refers to the Visa Egg Card. Egg Cards are issued by Barclays Bank PLC. Egg Banking PLC has transferred its ownership of its credit card accounts to Barclays Bank PLC. Barclays Bank PLC is authorised and regulated by the Financial Services Authority (Authorisation number 122702) and subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Barclays Bank PLC is registered in England with registered number 1026167 and has its registered office at 1 Churchill Place, London E14 5HP. Use of the "EGG" and "egg: card" trade marks by Barclays Bank PLC is under licence from Egg Banking PLC.

 

This email is confidential and for use by the addressee only. If you are not the intended recipient of this email and have received it in error, please return the message to the sender by replying to it and then delete it from your mailbox. Internet emails are not necessarily secure. Egg does not accept responsibility for changes made to this message after it was sent.

 

Whilst all reasonable care has been taken to avoid the transmission of viruses, it is the responsibility of the recipient to ensure that the onward transmission, opening or use of this message and any attachments will not adversely affect systems or data. No responsibility is accepted by Egg in this regard and the recipient should carry out such virus and other checks as they consider appropriate.

 

Please don't reply to this message if you wish to contact Egg about any other matter, as we will not be able to respond to you. Instead please send us a secure message by logging in to your accounts at www.egg.com and selecting the option to 'View your messages or send us a message'. You'll find this on the 'Your money' page.

At a glance

This email is about

Egg Card

 

It was sent to you in

May 2011

 

Sorry, we're unable to respond to replies to this email.

 

How to send us a secure message

Contact us securely via egg.com Log in to 'your accounts' and select the option to send a message.

[HP Mum]

I just received the same email today and do also bank with Barclays and have a Barclaycard.

 

Egg terminated my account as has been discussed on many threads here - especially the fantastic one by Toymaker. I followed Toymaker's advice and wrote letters to Egg solicitors and basically told them and Egg that as they had terminated my account I no longer had an account and did not owe them anything. I have not heard anything from them in a year. I take this to have meant that they agreed !! So how can my account suddenly be reactivated just by selling it on to Barclays ?? It can't. The same argument we all used before with Egg should still stand - surely ????

 

I have no intention of allowing Barclays to start taking money out my account on a "right to set off" basis.

They have to prove I have this debt with Egg, don't they ?

But I also run my whole life through Barclays and always have to keep money in the account for bills etc.

 

So what is the new plan of action here, everyone ??

[victoria_siempre]

Hi HP mum

 

The only safe way is to open account(s) elsewhere asap.

 

x

 

v

[HP Mum]

But I don't understand this.

Egg have not chased me for more than a year. Probably many are in the same situation.

I do not have an account with Egg - they terminated it. So how can they sell on an account that they terminated and which does not exist anymore??

Barclays would have to prove that the account exists to be able to collect any money. Barclays would need to answer the same argument that Egg were unable to answer (terminating account which was not in default)...

Egg were never able to collect on the debts that were terminated whilst not being in default. So how can Barclays succeed where Egg failed ?

Are they more ruthless than Egg? Do they really have more muscle ? Will they just start taking money from everyone's current account - as set offs - and subsequently let the customer argue and fight to get their money back ...

How can this work?

 

I run my life through Barclays - paying bills, receiving maintenance/benefit, WCT etc - and it is not so easy to change everything.

I cannot believe that Barclays will be able to so easily collect an Egg debt.

Is it really so easy for Egg to pass the buck in this way ?

I'm amazed...and highly sceptical that it is legal !!

[unfoundfuture]

why should the general public be forced to change there bank account because Egg Card is i trouble, I am sick of the buying selling and assignment of debts it just goes round in circles and I think the OFT need to look into this as the general public dont know what to do especially when the account has been registered as a default and terminated

[HP Mum]

One thing - would Barclays/card have the right to set off from ANY account within Barclays - or just a personal account ?

ie: childrens accounts in the name of the parent? Savings account? etc

[victoria_siempre]

Hi guys

 

Whilst I obviously agree with the sentiments, the practical reality is that banks do offset from any account in the account holder's single or joint name. I agree that this is legally dubious but whilst one argues they have robbed your cash.

 

The only safe course of action is to move income to a different bank.

 

x

 

v

[raydetinu]

Trying to do that, but with little income and a dubious credit score banks not tripping over themselves with offers so far.

Any suggestions?

[alfwithhair]

Try the co-op

[Dotty50]

I bank with Barclays and since they rifled about £300 quid from my deposit account some time ago I make sure that the account is always in my overdraft, they have not taken anything since and if they do and increase my overdraft then that's fine, I will just have my wages paid elsewhere. Not ideal I know but at the moment it works for me.

 

I don't think they are supposed to take money if you are in debit and have an agreed overdraft limit but I have read that they have done this.

 

They only tell you after they have taken the money!

[victoria_siempre]

Hi ray

 

I used an old building society savings account to validate a current a/c; then the computer believes you exist. You can google basic bank accounts as well. Even overdrafts can be dangerous because they're more difficult to contest and can attract some quite nasty, yet lawful, fleas (sorry fees). The last resort is to get income paid into a savings account (easier to open) or a trusted third party account.

 

But they will xxxx your money; 'HELPFUL BANKING' is really help-them-selves banking.

 

x

 

v

[phatram]

Isn't selling something that doesn't exist illegal?

[HP Mum]

Ok

Now I am really angry.

Barclaycard just sent me an email regarding the egg card that they have "allegedly" bought. It appears they are looking at the balance of the egg card that I used to have, but which egg terminated, and adding it to my Barclaycard. Because the balance of the 2 cards is now too big - they are not renewing my Barclaycard when it is due to expire....

Barclaycard visa is the only credit card I have. I bank with Barclays, have a business loan with Barclays, have a mortgage with Barclays, my children have accounts with Barclays....

And somehow they have bought a "terminated account" and added it to all the rest....

Surely many other people are getting such emails today.

So what is the way forward?

How do we collectively fight this and get the egg card amount discredited ?

Without changing banks...

 

Just in case others have not received this email I have copied it below, highlighting some points in red.

I would really welcome some help here....

"Hello HPMum,

 

You will have received a communication to let you know your Egg Card account was transferred to us on 29th April 2011. Now we're writing to give you your new Barclaycard Terms and Conditions which will take effect from 7th November 2011.

Currently, we won't be sending you a new Barclaycard owing to the status of your account, and as a result, not all of these changes will affect you.

 

Please make sure you read through all the following sections and review the online frequently asked questions and booklets so you don't miss out on any important information. Your interest rate and credit limit will remain unchanged and any balance transfer or promotional purchase rate is also unaffected.

 

Changes to your statements and payments

If your monthly repayments are made by Direct Debit they will continue to be collected in this way. Further information on the changes we will be making to your Direct Debit is available using the link below.

 

Read the Direct Debit update >

 

From 7th November 2011, you'll get 56 days' interest-free credit on new purchases made on your account instead of the usual 45 days. Your statements will continue to be produced on or around the same date each month, but your payment due date and when we collect your Direct Debit will change to approximately 10 days later. This means if you only pay the minimum payment, your first payment could be higher because of the increased time between your old and new payment due dates. If you've got an outstanding balance on your account then the interest you're charged will also be higher on your first statement for the same reason. Please bear this in mind and ensure you have sufficient funds in place for when the payment is taken from your account.

 

For further information on your statements and payments or if you have a repayment plan please see the frequently asked question information at the end of this e-mail.

 

New benefits

The benefits applicable to this new account may become available to you should your account status change in the future. The benefits currently include earning Reward Money at participating retailers with Barclaycard Freedom, contactless payments, discounted holidays and travel services.

 

Changes to your Terms and Conditions

A summary of all the changes that will take place on 7th November 2011 is provided and a full copy of your Barclaycard Terms and Conditions are available using the link below. It's important you understand what the changes mean for you, so please read the following information carefully.

 

Minimum Payment – will be clause 2 of your Barclaycard Conditions

If you have Card Repayment Protection insurance, the amount of your premium will no longer be included in your minimum payment. Remember you can always pay more than your minimum payment – you may wish to increase the amount you pay each month to cover this.

 

Interest – will be clause 6 of your Barclaycard Conditions

Interest will be charged on all fees, including those on balance transfers. Default fees will only have simple interest charged – so you will not pay interest on interest.

 

The minimum amount of interest that will be charged on your statement will increase from 50p to £1. This only applies if there is an amount of interest on your account less than £1.

 

If we increase your interest rate, we will give you 30 days' notice before any reprice, and 30 days to opt out after you see the effect of the reprice on your statement.

 

Default Fees – will be clause 10.1 of your Barclaycard Conditions

Default fees will be reduced from £16 to £12.

 

Balance Transfers – will be clause 12.6 of your Barclaycard Conditions

When you ask us to make a payment from your account (like a balance transfer) we will process this transaction on the next working day unless you have agreed to make the payment on a future date. In that case the payment will be processed the working day after the date we have agreed.

 

Any promotional balances, such as balance transfers will now be paid off starting with the earliest expiry date first, rather than the earliest start date.

 

Other changes to your Terms and Conditions

• We are giving you longer to pay off your transactions before we start charging you interest. After your account transfers, you will always get up to 56 days to pay off your transactions before interest is charged as long as you pay your account in full by the payment due date
  
• The minimum possible credit limit on your account is now £250, reduced from £500
  
• There is now a limit to the amount of cash you can withdraw on your Barclaycard. This may be a percentage of your balance, or an amount. We will let you know before we make any changes
  
• The fee payable if you want an additional copy of your statement will increase to £3. Remember your statements will still be available online
  
• If you authorise a transaction in the European Economic Area and the amount wasn't specified beforehand and you later find out the amount is more than you could have reasonably expected, we will review this for you and refund the transaction
  
• Your account will now be included in Barclaycard Freedom and will no longer be registered for the Egg Cash Back Store powered by Quidco. For further information on your Quidco membership please see the frequently asked questions below
  
• We will discontinue the following insurances: purchase protection, internet delivery guarantee and travel accident insurance
  

Read the full Barclaycard Terms and Conditions >

 

Are your contact details up-to-date?

It's really important we have your most up-to-date contact details so we can get in touch by e-mail and post and send you reminders about key dates by text message. You can check and update your details by logging in to your Egg account at egg.com and clicking on the 'Personal details' tab. If you can't log in to your Egg account you should contact us on the usual number.

 

Questions?

For further information, please see the below frequently asked questions using the link below.

 

Frequently asked questions >If you have any further questions, you can send us a secure message via the Egg website by logging in to 'your accounts' at egg.com clicking on the option to 'Contact us' then 'Send a message' and finally selecting 'Egg Card'. All you have to do then is select 'Transfer of Egg credit cards' from the drop-down box. If you can't send us a secure message you should contact us on the usual number.

 

Remember to look out for future updates heading your way with more information about how to manage your account from 7th November 2011. You'll also find all the latest news at barclaycard.co.uk/egg

 

Go to barclaycard.co.uk/egg >

 

Kind regards,

Paul McWeeney

Head of Consumer Sales and Service