Using cash plus as bank account

vicky1001

Hi all,

i was wondering if i could use cashplus as replacement for my secure trust bank account and was wondering if anyone had any info about this or first had knowledge



thanks i would appricate it

from vicky

[Deleted User]

Why would you want to?

Your'e already paying Secure Trust £12.50 a month I assume, why not just get a basic bank account with someone like Co-Op bank?

vicky1001

I am yes - because i cant get one they declined me which is why i went with secure trust

ian_h

HI

Yes the CashPlus card allows direct debits, standing orders, direct "bacs" payments and has faster payments in using a unique sort code and account number for your account so apart from either the per txn or per mth fee you would only really have to weigh up the cost of cash withdrawals and you can get round this with many savings accounts that offer a cash card.

money_grows

Hi Vicky,

Have you tried opening a basic Barclays account?

thatsean

It does everything a basic account does - and comes with the Mastercard purchase protection too, so it could work out ok for you. Make sure you're happy with the times that they take to process credits - i read somewhere that salary credits often take a full 3 day cycle though - worth checking?

[Deleted User]

I thought it was the law that banks had to offer at least a basic account to everyone?

chanz4

I dont think cashplus are an actual bank, just a payment processor type of setup but could be wrong

System

Have you tried something like a YBS Cash Transactor ?

It's basically a savings account with cashpoint, direct debit & standing order facilities. It should be easier to obtain than even a basic account with a bank. I would personally prefer that over cashplus/secure trust

YBS also offer funds transfers, so you could get a purchase transaction charge free pre-paid MasterCard too.

vicky1001 wrote: »

I am yes - because i cant get one they declined me which is why i went with secure trust

pmduk

billbennett wrote: »

I thought it was the law that banks had to offer at least a basic account to everyone?

No, they still pick and choose. Some people claim that there has to be a reason for a bank to decline you, in practice this is rubbish.

christ87

the problem with co-op and barclays basic accounts is if you run into problems with overdrafts, they will charge you DEARLY for it. too my knowledge cashplus is just a card.

I used card one banking a few years ago when i was unemployed and didnt have to pay the setup fee, i also really enjoyed their service - unlike what i can say for HSBC who decided to cut my overdraft almost overnight!