Secure Trust bank

cherryade44

Hello, I've just registered a new account  with STB . I was sent  a temporary password, and logged on to change it. I got to the 2FA part but received nothing, prior to that the website was glitching and sending me back to the log in page. After 3 attempts I decided to ring them. The phone call was dreadful. he couldn't hear me properly,It took a while to hear my security answers. I was told there was a problem with 2FA and to try again later. I'm really surprised a bank has problems with 2FA, rhe website and phone lines. It's put me off to say the least. Is this common with this bank , cheers

subjecttocontract

Don't know your answer, but I won't be using them again for cash ISAs.....
* Don't allow partial transfers out.
* Can't pre arrange a transfer because at maturity they allocate another account number.
* Can't wait to see the back of this bank.
But as Nigel Farage says.......never say never !!!

cherryade44

Everything seems to working now. I was initially interested because of the interest rates, the 30 day window allowing multiple deposits . However I'm sure when I looked at rates earlier it was about 5.5% when I looked again it was 5.26%

refluxer

cherryade44 said:

Everything seems to working now. I was initially interested because of the interest rates, the 30 day window allowing multiple deposits . However I'm sure when I looked at rates earlier it was about 5.5% when I looked again it was 5.26%

Yes - Secure Trust lowered the rate on their 1 year bond today, unfortunately.

Rhubarbium

Opened a 2yr fixed rate ISA with them yesterday and was having problems with receiving my emails from them. Rang them to discuss and the lady I dealt with couldn’t have been more helpful & professional.

A._Badger

I have to say, in their defence, that I've been quite impressed with Secure Trust/ both online and on the phone. The only thing I dislike is the way they keep issuing new easy access accounts and leaving the previous issue at a lower interest rate. You can ask them to shunt your money to the new issue but it's a nuisance to keep having to do that.

25_Years_On

A._Badger said:

The only thing I dislike is the way they keep issuing new easy access accounts and leaving the previous issue at a lower interest rate.

Or as is the case now leaving the previous issue at a higher rate. Swings when rates are going up and roundabouts when they are going down. I don't dislike the roundabouts.

PragueAddick

Just to say that overall I rate Secure Bank the highest of the array of banks I currently use in this time of being a grumpy old man with cash . Whenever I have needed to call them I get through quickly to a proper human who is usually well on top of the question being asked. I presume they are either dedicated employees or at least a local dedicated call centre.  I'm probably going to go the full 85k with them.
I learnt that Secure Trust is a long established bank and it is nice to see a bank resisting the rush to inane chatbots. This is people's savings they're talking about.

cherryade44

This morning I made the minimum payment to my Secure trust bank which went through. After confirmation I tried to make another larger payment and received a text from my current account bank that the payment would not go through until I had spoke to someone from their fraud department. This call lasted 10 minutes plus, and has scared the crap out of me, is this the banks just doing their job ? I'm glad they are being vigilant but it has  really knocked my confidence

wiseonesomeofthetime

Thanks to AML regulations, APP frauds and similar scams, a lot of banks have been known to do this when you send a small transfer, followed by a large one, and some more regularly than others.

You may not experience it every time, however, get used to explaining to banks that you are not being coerced into making the transfer, you do know the risks, it is an account in your name that you opened, etc., whenever you try to transfer (normally large, but not exclusively) your own money from one of your accounts to another.

It's the norm now, and will be for a while, I guess.

cherryade44

wiseonesomeofthetime said:

Thanks to AML regulations, APP frauds and similar scams, a lot of banks have been known to do this when you send a small transfer, followed by a large one, and some more regularly than others.

You may not experience it every time, however, get used to explaining to banks that you are not being coerced into making the transfer, you do know the risks, it is an account in your name that you opened, etc., whenever you try to transfer (normally large, but not exclusively) your own money from one of your accounts to another.

It's the norm now, and will be for a while, I guess.

I think it may be me at fault. On my current account, when I was filling in " add new payee " I chose business not personal, and put the banks name not my own. The person I called did not explain  this, he just said the payee didn't match. I feel absolutely stupid