Unfortunately this basic bank account is no longer available.
Secure Trust Bank is a UK retail bank that provides specialist banking services to UK customers who may have been refused an account by other UK banking institutions. These services include deposit and fee-based current accounts. It was established in 1954 and is based in the West Midlands.
One of the accounts they offer is a basic personal UK bank account with an attached rechargeable prepaid Mastercard debit card. This account is available to anyone (including undischarged bankrupts and those in an IVA) provided they are a UK resident over 18 and subject to satisfactory identity and residency checks. There are, however, charges for this account. These consist of a one off £12.50 application/set-up fee and a monthly management fee of £12.50.
What Secure Trust Bank offers:
- A guaranteed (subject to ID checks) basic personal account for those resident in the UK.
- No credit checks. They will only use information from the credit reference agencies to check an applicant’s identity and address. Those undischarged from bankruptcy or those with an IVA (Individual Voluntary Arrangement) can open an account. If they are unable to confirm these identity details electronically they may ask for several original identity/address documents.
- Mastercard prepaid debit card. Sufficient funds must be loaded onto the prepaid Mastercard from the attached Secure Trust Bank current bank account before it can be used. This way the prepaid and current accounts are kept separate. The prepaid card can be used at millions of places worldwide to buy goods and services as well as access cash at Mastercard® branded ATMs. It can also be used to make phone and online purchases.
- Direct Debits and Standing Orders.
- No ‘returned item’ fees for refused Direct Debits or Standing Orders. Most other UK basic bank accounts will charge a fee if this happens. Do it 3 times with the Cashminder or Bank of Ireland UK account and that account could be closed.
- Pay in cash at over 20,000 Payzone outlets for free and can pay in cash and cheques at Barclays for free. It is also possible to pay in cash and cheques at most other banks but they will charge a fee for this service.
- Withdraw up to £500 in cash per day (max. £250 per withdrawal) using the prepaid Mastercard debit card at any cash machine in the UK and abroad displaying the Mastercard symbol. LINK branded cash machines cannot be used. There is a UK ATM cash withdrawal fee of £0.50. Withdrawing cash abroad costs £2.25 per transaction. All withdrawals are subject to sufficient funds being available.
- Earn up to 4% cash rewards at over 35+ high street retailers.
- Secure online banking. Automated telephone banking is also available as well as SMS banking. The prepaid Mastercard debit card can be quickly loaded using the SMS banking option.
- Pay in salary, wages or benefits.
- Online statements.
- No overdraft facility.
- No cheque book.
- Cannot use prepaid Mastercard at LINK ATMs.
- One time set-up fee of £12.50 plus a monthly management fee of £12.50.
No interest is paid on any credit balance.
Some of the fees for this Secure Trust Bank basic account include:
UK cash machine withdrawal £0.50.
Overseas cash machine withdrawal £2.25 per transaction.
Additional card £5.00.
Replacement card £5.00.
POS transactions (UK) Free.
Overseas point of sale transactions 2.75% of transaction amount.
Returned standing order/direct debit payments Free.
Customer service telephone enquiries Local Rate.
Account closure Free.
Account re-activation Free.
Duplicate statements £2.50 per statement.
Banker’s cheque £2.50.
Card loads from account Free.
Card unloads from account Free.
International transfer £25.
Click on button below to go to Secure Trust Bank Current Account page.