Egg Money launched

Egg Money has been launched for consumers who wish to spend their money and be rewarded for doing so.

The account offers customers four per cent variable interest as well as one per cent cash back on purchases guaranteed until 2007.

This cash back amount stands at two per cent for customers making purchases between November 16th and December 10th of this year.

Mark Nancarrow, Egg’s chief financial officer, said: "Liberating our spending money from the more mundane things in life would not only save us money, but would enable us to understand, control and budget more efficiently. It’s time to change how we spend."

Another advantage of Egg Money is that it allows customers to separate their spending money from compulsories such as bills and mortgages.

Customers can thus spend their money with confidence, without fear of overspending.