Secure Trust Bank

Sniblet

cwep2 said:

I have had the issue 7 since March this year. They upped the rates several times and it was matching the more recent issue 8 until last week. I was on 4.45%AER I think (4.36% gross). The issue 9 rate at 4.55% wasn't passed on, so I closed my 7 and opened a 9.

A bit of a faff. If they do it again I will close down altogether tbh, unless there's at least 0.1% premium over the next best account. I have used Cynergy for a lot longer and the continual closing/opening of accounts is similarly not worth it for me unless they are the best rate by some margin and frankly there are others that match or beat them almost all the time. The difference is that I can leave £1 in Cynergy to keep it open to speed up any account opening if they come up with something market leading again, but Secure Trust needs £1000 minimum. 

I'm totally feeling you and have just done the same; a few weeks ago I closed an ISA with them and switched to a far better rate elsewhere, after checking using MSE calculator. It's a faff as having just opened the Issue 9 online it's showing 0.00%APR and I will call them on my day off to sort out the straight transfer across. Agree with all of your sentiments on this @cwep2. Cheers!

t33

EA Issue 9 has recently been upped to 4.98% AER.  It appears that the Issue 8 has not been uplifted likewise (as it was a couple of times previously) or is too early to know, I think in the past it has taken a few days to receive an email from them announcing an adjustment to rate.

Is the online application for the Issue 9 (then close Issue 8) fairly straightforward for joint accounts, as it would be the first time I'd be obliged to do this?

Thanks

25_Years_On

t33 said:

Is the online application for the Issue 9 (then close Issue 8) fairly straightforward for joint accounts, as it would be the first time I'd be obliged to do this?

Thanks

It's not entirely straightforward but it's ok. There is an existing customers application link but that process has always failed for me on any browser. It this happens you apply as a new customer but make sure all the details including security answers are exactly the same. They will then match you to your existing account and open the new issue.This takes a couple of days. Then you phone them up and ask them to transfer funds from the old issue to the new one.

t33

STB have just upped its rate on the Easy Access Issue 9 to 5.03% AER.

As a heads up, I went to apply for this with the intention of transferring funds from a lower paying Issue 8.  However, though the Issue 8 was opened as a joint account, the Issue 9 cannot be opened jointly.

Very frustrating.  I've sent them a secure message for clarification, but if this is the case will probably defund the account and transfer to Santander.