Introducing the
Prepaid Current Account
Simple, no surprises banking
Why choose the Prepaid Current Account?
Because it's been carefully designed to put you in control of your finances. You can set up automated loading from your account to your new MasterCard® prepaid card.
This will help you to manage your money by leaving enough in your current account to cover all of your direct debts, standing orders or other outgoings.
The money loaded to your MasterCard® prepaid card can be used to withdraw cash, make purchases online, in-store or over the phone. You won't ever go overdrawn on your current account, so you'll find it dead easy to budget yourself.
If you are on or starting a Debt Management Plan, an IVA or are Bankrupt, don't worry - this will not affect your eligibility for the Prepaid Current Account. Our Debt Advisors are trained to help you complete the forms.
Banking & Credit News
- Debt help: Banks 'failing to treat customers fairly'
- Creditors encouraged to use appropriate debt solutions
- Debt help could get people out of the red
- Debt help may be needed as earners only just clear interest
- Debt help: Insolvencies 'set to rise in 2010'
- Many consumers 'failing to tackle credit card debt'
Frequently Asked Questions
No credit checks? Are you sure?
That's right we do not credit check. We only carry out a check for 'Identity verification'.
How long does it take to set up an account?
We will provide you with everything you need to operate your account within 10 working days (providing all information requested has been returned).
Is it a credit card?
No.
Is the MasterCard® prepaid card also my Current Account card?
Yes.
How do I get the money from my account to my card?
There are two ways:
Firstly, we will set up a standard transfer of funds each month following receipt of your salary, this will be based on your monthly disposable income, this amount can be altered at any time by contacting our customer service team and speaking to one of our friendly advisors.
Secondly, you can request additional transfers at any point during the month, again by contacting one of our advisors all you need is sufficient funds in your account to transfer.
Will I be charged for going overdrawn?
No, the account is designed to ensure that you cannot go overdrawn so you don't need to worry about any unexpected charges coming your way.
Is this another one of those cards with another electronic account attached?
NO! You will be provided with the actual current account provided by a fully licensed and regulated bank... US!
Can I set up Direct Debits and Standing Orders?
Yes, we have the facility to allow you to set up both Standing Order and Direct Debits from your Current Account.
Do I have access to Cheques?
Although the account does not carry a chequebook facility you can ask us to raise a cheque in your name from your account similar to a banker's draft. This cheque can be made payable to and sent to the person or company of your choice. Details of the charge for the issue of a cheque are detailed in the Scale of Charges.
What if I want to close my account?
A closure is simple, firstly send us written confirmation that you wish to close, this will set the wheels in motion. We will check the available balance on your account, if the amount is greater than £2.50 we will send you a cheque for the amount (minus the standard £2.50 cheque charge) this will be accompanied by a letter confirming that your account has now closed.
How do I get money into my account?
Two ways, by electronically sending to your sort code / account number, this is normally how your employer pays your salary directly into your current account. Secondly, by paying cheques and cash over the counter at any Barclays Branch using one of the paying in slips you received with your welcome pack.
Is my new card Chip and PIN or mag-strip?
Here at Secure Trust Bank we take protecting your money very seriously, that is why all our cards are chip and PIN protected.
Where can I use my new card?
Your new card carries the MasterCard® acceptance mark and so can be used at all ATMs and Retail outlets that display the MasterCard® Logo. (Some pay@pump machines at petrol stations may not be accepted.)
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