I am looking to change from cardone banking to secure trust bank as they have direct debit facilities as I am ending my IVA. I have heard mixed reviews about secure trust so was wondering if anyone has any experience of them recently or know of an alternative bank.
I am with Secure Trust, since the start of my IVA, no problems at all. Good on-line facilities and the pre-paid Master card is accepted everywhere (other than card fuel pumps). Your balance is updated live so you always know exactly how much you have left as a balance. Asda have a deal with ST where if you use your card for goods then at the end of the month you get a discount back, I don't use it as we always use cash, the MC only gets used for drawing cash from the ATM. The monthly fee is budgeted in our I&E so we arn't the 12.50 a month down out of our disposable. I do recommend them.
Last Payment made 04/12/14. Completion Certificate 25/7/15. IVA company GT. No Issues
As an alternative it would be worth looking at the ClearCash account. Samuel Mond is a regular forum poster, and I am sure would be happy to have a chat with you about the facilities they provide as a very credibl alternative.
They are very good. Very easy to use online and text banking, and has been said previously, balances update real time, so no risk of forgetting transactions, and then inadvertently going overdrawn.
Also, they have a cash-back rewards scheme in operation - up to 4% in some cases. Lots of big retailers are included, so if you shop carefully, this cashback off-sets some of the fees (I even made money one Month).
Interest is also paid on your balance in the current account.
There are other similar fee-charging accounts: ClearCash and CashPlus are 2 other good ones. Personally, I chose Secure Trust over them because it is the only organisation that is a 'bank', and therefore your money is fully protected by the Financial Services Compensation Scheme.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
