Secure Trust Bank

ashteadgirl

Anyone got any experience of this bank??? Know they are covered by the FSA etc but would like to know personal experiences of saving with them. Thanks

SnowMan

Try this thread

https://forums.moneysavingexpert.com/discussion/3213912

The 183 day notice account paying 3% above base rate is an overlooked savings account

Ifts

I am currently in the process of opening a fixed rate bond with Secure Trust Bank.
I phoned them to send me out an application form, the call was answered promptly & politely.

Free phone number for Secure Trust Bank: 0800 694 2148

atypical

I opened their 183 day notice account mentioned above. It was opened the day they received my application. I'd called in the morning to check if they'd received it, they hadn't but they (unusually) called me back to tell me it had arrived in the later delivery.

It's a shame they weren't so good on providing specific account details e.g. how long does the 3% guarantee apply for (my email was ignored and the guy on the phone didn't know).

dalbum

I too had no problems in opening a 183 day notice account.

Their terms and conditions put no time limit on the rate guarantee. When I questioned this on a recorded line, it was confirmed that there is no expiry date to this guarantee. In other words as long as you hold the account, it will pay 3% more than base rates.

This is possibly the best rate guarantee that I have ever seen.

VT82

I'm not really in the market for this as I don't like the 6 month notice period and might need a big chunk of my money at any point. But is there anything to stop me opening one now with the minimum £1,000, then in 1/3/10 year's time when I won't need instant access, and this account is paying 4/6/8%, ploughing my medium-term non-isa cash into it?

And if Secure Bank ever goes down, I'd probably get my money from the FSCS quicker than giving my 183 day notice!

dalbum

There are two drawbacks to this account:

(1) the long notice period
(2) once the account is closed to new customers, no further deposits can be made to existing accounts

If it was not for these, the account would be too good to be true.

nzseries1

I know this is a slightly old thread, but it's the top result for Secure Trust Bank google searches.

Third drawback - no internet or phone banking. Apparently it's still 1993.