Secure Trust Bank and Thinkbanking

[sjbyron]

HI

Is their any difference to these two accounts? Which one would be recomended over the other and why?

[kallis3]

I have no idea if there is any difference, but they both charge per month, and as long as people can get free bank accounts, I'd got for that everytime.

[MelanieGiles]

The Secure Trust offers a full current account and pre-paid cash card as part of the same package. I am not sure if Thinkbanking do the same.

[sjbyron]

Thanks Melanie

Are they backed by Barclays like ThinkBanking are backed by RBS

[kallis3]

According to the website it's part of Arbuthnot Banking Group.

[MelanieGiles]

Arbuthnot Latham are perhaps one of the strongest banks you will find in terms of asset to loan book cover. I have all of my banking with them and they are fantastic.

[kallis3]

I was reading about them - the one finance director doesn't live too far from me!

They do sound like a strong bank.

[Skippy]

I'd choose free banking over a paid account, but if I had to pay for my banking I would go for the Secure Trust account.

[Andrew Graveson]

Hello Stu,

Hope all is well?

There's a pretty strong argument for not paying for a bank account.

Do you perceive a particular benefit for you associated with using this type of paid-for account?

[sjbyron]

Hi Andrew

Its simply the benefit of money management, that is a skill I have not got, I have tried doing the same thing i.e a cashminder account and a barclays account but which I failed with.

Having gone Bankrupt I dont want to go down that road again.

[kallis3]

I would chose a free account everytime while I can, but I do think that I would chose Secure Trust if I had to pay - sounds as though it has everything I would need.

[Teresa]

i have to say we are with think banking and it really helps me plan my bills as the salary account makes sure i have all my direct debits money put away. but the payment is quite high but its worth it for us.

[Shining]

I think sometimes the security of knowing bills etc., are paid and giving the account holder can bring to some posters outweighs the cost and although I would go with free banking everytime, some posters need that bit extra and it's always good to have the option available if needed.

[kallis3]

I know it seems to help some people but being in an IVA I can't justify the extra money.

[Teresa]

with mine the payment is written into my expenditure so it doesnt have to come out of my pocket as such.