Suits Me is a UK based online money account (an e-money account) and although it is not a bank account it offers many of the features that you would expect to find in a traditional high street bank account.
Suits Me UK has over 130,000 customers.
An e-money account, like the personal account offered by Suits Me, is an account that stores money in electronic form which can be used to make payments.
It is available to UK residents and non-residents living in the UK and may be suitable for those who require a personal bank account and contactless prepaid debit Mastercard who may be unable to obtain a conventional account from a high street bank.
Individuals with an adverse credit history and even undischarged bankrupts and those in an IVA can open an account.
You must have a UK address (no proof of address required), be over 18 and must prove your identity by providing a suitable document such as a Driving Licence (if a UK resident), Passport or a National ID card. You must also have a valid photo ID document which can be compared against a selfie video.
The money account can be operated online via a web browser or through the Suits Me mobile phone app.
The account can be opened in about 10 minutes and you will receive your free prepaid debit Mastercard in around 3-5 working days.
There is a monthly management fee of between £0 and £9.97 depending on what services and facilities are required.
The Essential account which has no monthly fee may be suitable if you just require a prepaid debit Mastercard.
You can send an International money transfer through a third party partner on the app. However you can’t receive International money transfers.
The Suits Me account is an e-money account provided by Prepay Technologies Limited (trading as PPS). PPS is authorised and regulated by the Financial Conduct Authority for the issuance of e-money and provision of payment services.
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What the Suits Me UK Personal Prepaid Card Account offers:
- Free account opening.
- Easy to set up and can be opened online in as little as 10 minutes.
- No credit checks.
- Suitable for undischarged bankrupts or those in an IVA.
- Free contactless Mastercard prepaid debit card. The prepaid debit card can be used at over 30 million places worldwide to buy goods and services as well as access cash at Mastercard ATMs. The card can also be used for online and phone transactions.
- Use your Mastercard debit card to make payments outside of the UK.
- Direct Debits and Standing Orders for Premium Plus account (£9.97 per month).
- Pay in salary/wages using BACS. You can also receive money from friends and family through UK Bank Transfers. Bank transfer limit is £10,000.
- Can deposit funds at PayPoint. You can pay in up to £500 by PayPoint each day.
- Your Suits Me account can hold a maximum of £10,000 at any time.
- Can send International transfers via third party app.
- Online statements.
- Multilingual support by phone, email or live web-chat.
- No overdraft facility.
- Monthly management fee is payable for some facilities/benefits.
- Can’t deposit cheques into account.
- Cannot receive International transfers. Can send International transfers via third party app.
- Regular Direct Debits and Standing Orders only available on Premium Plus Account.
- No cheque book provided.
Some of the fees for the Suits Me UK Personal Prepaid Card Account include:
Contactless debit Mastercard – Free.
Essential account – £0/month.
Premium account – £4.97/month.
Premium Plus account – £9.97/month.
Contactless debit card transactions – Free.
ATM fees – UK – £1.50/£1.29/4x Free transactions depending on account type.
Europe – from £2.24/2% of transaction value.
International – from £1.00/2% of transaction value.
Card payments within UK – Free.
Card payments outside UK – Free.