Secure Trust Bank Account – The Review
We trust that you find this Secure Trust Bank review of the above basic bank account informative. It is one of several that we have carried out on companies that offer similar types of bank accounts for bad credit. You can apply online with them and no credit check is undertaken.
Who is Secure Trust Bank PLC?
It was established in 1954 providing a retail banking service that includes a basic bank account, loans and savings accounts. The current account is available even if you have a poor credit history which makes it attractive to many of those people that are struggling financially.
Is a credit reference search carried out by them?
No, you will be pleased to hear that no credit check is made about you.
If your credit rating is poor you can still open one of these bank accounts for people with bad credit. Even if you are an undischarged bankrupt or are in arrears with your mortgage, credit card, rent or utility bills this should not be a problem.
How do you open the current account?
As long as you are over the age of 18 and a UK resident and can prove your identity and verify the address you live at you should be able to open one of their current accounts.
The application process can be completed quickly and simply online meaning that you can do this at any time of the day or night. They will usually be able to go though their identity and address verification checks electronically. If this is not possible then suitable documents would be required such as a current valid passport and a credit card/bank or building society statement issued in the last 3 months.There is a list of acceptable documents on their website.
What does the account provide?
You can ask your employer to pay your salary straight into the account or have your pension or benefits paid in and then pay your regular bills such as mortgage, insurances and utility bills by standing order or direct debit. You can also pay cash into the account at over 20,000 Payzone retail outlets without any charge. It is also possible to pay cash or cheques in at any branch of Barclays Bank free of charge. Some other high street banks offer this facility but you may be charged.
A Securetrustbank MasterCard Prepaid card is provided that you top up. This can be used to withdraw cash from cash machines and pay for items online, over the phone or in high street shops. It can be used abroad.
You can access information about your account online or by telephone meaning that you can keep track of your spending very easily.
How much does the account cost?
The Securetrust Bank account costs £12.50 to apply for the account and there is a monthly administration fee of £12.50. There are other transaction fees such as to withdraw cash from ATM machines.
We hope that the above has been of benefit. You may also wish to look into the CardOne Banking current account which is another bad credit bank account. If you do decide to open a Secure Trust Bank basic current account we trust that it meets your requirements.