The Benefits of Secure Trust Bank for people with bad credit

 

If you have made a few mistakes or been unlucky with your finances in the past, you may think that you will never be able to open a current account or have a credit card again. Thankfully, this is not the case - Secure Trust Bank offers current accounts no matter what your credit history.

The Fairbanking Foundation uses an independent assessment to determine its rating, including feedback from regular customers. The Foundation found that this current account offers a variety of features to help you manage your money better.

One of these features is that your current account is a bank account featuring a prepaid credit card. Your MasterCard Prepaid Card can be used in the same way as a conventional credit card or debit card to make purchases in store, online and to withdraw cash from ATMs. The difference is that you can only spend the money that you have previously "loaded" on to the card - like topping up a mobile phone.

This means that you are in less danger of getting into debt, or accidentally spending money that you needed in your account to pay bills. This Prepaid MasterCard is one of the best features of your current account, as it not only allows you to better manage your spending, but enables you to pay for online shopping and book train tickets and flights without having to have a conventional credit card.

Of course, accidents happen, and everyone has unexpected expenses. With Secure Trust Bank, you will not be charged a fee if you do not have the funds to meet a direct debit or standing order.

This makes it so much easier to budget properly and manage your money, as there are no hidden fees or charges to catch you out. It's just a £12.50 set up fee, an account management fee of £12.50 a month and £0.50 every time you withdraw money from a UK cash machine. There are a few other charges you may have to think about, for example if you are abroad, but for day to day banking, those are the only charges you need to worry about.

You can also take advantage of the Rewards Scheme that Secure Trust Bank offers its current account holders. This Rewards Scheme allows you to earn cash every time you use your Prepaid MasterCard to shop in major retailers such as Asda, Argos, Debenhams, Comet and many more. You can earn up to 4% of what you spend, so just £300 of expenditure could almost cover your monthly account management fee.