Cracks appear in Egg's service

By ALISON POTTER
Updated:

 

Have you had problems signing up for good financial deals over the internet? If so, you're not alone. This Is Money asked users for their experiences with Egg, Prudential's online banking arm, and first-e, the new internet-only bank. The response was phenomenal, and shows that cracks appear to be forming in Egg's credit card administration - prompting concerns that the Prudential's online banking concern has bitten off more than it can chew.

Egg's internet-only credit card was launched four weeks ago with an interest rate of just 9.9%. By comparison, the biggest credit card operator, Barclaycard, has a rate of up to 19.9%. So far, Prudential claims, the card has proved 'very popular', with applications flooding in.

But the venture may fall victim to its own success. Many This Is Money users experienced problems with the site.

One writes: 'I spent three hours on the internet trying to apply. The helpline told me to try after four or five days as they are facing a massive influx.

'I didn't get a decision for three weeks despite more than 30 telephone calls.'

Another complains: 'I have repeatedly tried to apply over a number of days but after several minutes filling out the forms, the system bombs out. I can't be the only one with this problem.'

Other comments include: 'I completed my online application form two weeks ago and was told that an operator would contact me the next day. I am still waiting.'

But three respondents said they were delighted with the service they had received from Egg.

Egg is satisfied with the administration of the scheme.

A spokesman for Prudential, owner of Egg, says: 'There are no problems that I am aware of.

'Given that there are many applications, these problems represent only a small proportion of cases, although that does not mean they are unimportant.

'The majority of people appear to be happy.'

In contrast First-e, the Internet-only bank which went live in early September, has reported few problems. This Is Money readers also praised the site.

One says: 'I've had no problems whatsoever with first-e and have recommended them to friends and family.'

However, some complained about hitches in the service.

Another reader writes: 'I've just opened an account with first-e and found it ironic that I had to send, via snail mail, paper copies of utility bills before they would accept me.'

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