Secure Trust Bank

Secure Trust Bank is a UK bank that accepts savings deposits and provides credit. On the savings side it offers access accounts, notice accounts, notice tracker accounts and ISAs, all run online and by phone rather than through branches. On the lending side, the same group operates through sister brands such as V12 Vehicle Finance, V12 Retail Finance and V12 Season Ticket Finance, which finance cars, retail purchases and travel season tickets¹.

The bank behind the brand is authorised by the Financial Conduct Authority (FCA reference number 204550, authorised since 1 December 2001) with permissions to accept deposits, lend under regulated credit agreements and issue electronic money¹. It also appears on the Bank of England's list of banks incorporated in the UK authorised to accept deposits, dated 1 September 2026², and the company behind it is active, incorporated in 1954³. Because it is a deposit-taking bank, money held in its savings accounts is covered by the Financial Services Compensation Scheme, up to limits set out later on this page.

What Secure Trust Bank offers

Secure Trust Bank's savings range is made up of a small number of account types rather than a full high street banking service. There are no current accounts, no branches and no cash machine network: the bank operates online and by telephone. Its FCA permissions cover accepting deposits, entering into regulated credit agreements as a lender (excluding high-cost short-term credit, bills of sale and home-collected credit agreements) and issuing electronic money¹.

The lending side of the business reaches customers mainly through the group's other brands. The FCA Register lists V12 Vehicle Finance, V12 Season Ticket Finance, V12 Retail Finance, Moneyway, AppToPay and V12VF as trading names of the same authorised firm¹. In practice, most people encounter this side of the group not by applying to Secure Trust Bank directly, but when a car dealer, retailer or travel company offers finance at the point of sale. The bank also states that it shares customer information, including bereavement information, with other businesses within the group, including V12 Retail Finance⁵.

For savers, the range is explained in the sections below, with more background in the guide to savings accounts and ISAs. If you are weighing up where to keep money alongside debts, the guide to loans and the debt section explain the options, and the directory of banks and building societies shows the wider market.

Access Accounts: money available the same day

An access account is the straightforward end of Secure Trust Bank's savings range: money placed in it is designed to be withdrawn without a waiting period, normally on the same working day you ask for it. This type of account suits money you may need at short notice, because you are not locked into giving notice before a withdrawal.

The trade-off is explained in the general guide to savings accounts: accounts that let you take money out at any time typically behave differently from accounts that restrict access, and the restriction is what an account pays you to accept. With a bank that has no branches, withdrawals work by transferring money to a nominated account at another bank, which you set up when you open the account. That nominated account is worth choosing with some care: if you have debts with the bank that holds it, money arriving there can be at risk of being used against those debts. Guidance from Business Debtline defines a "safe" account as one with a bank or building society that you do not owe any money to, meaning no loans, credit card, mortgage or overdraft with that bank, and no personal guarantee given⁶.

Because Secure Trust Bank does not offer current accounts, your nominated account will be with another provider. The guide to current accounts explains how they work and how to switch one.

Notice Accounts and Notice Tracker Accounts

Notice accounts sit at the other end of the range from access accounts: you agree to give a set period of notice before withdrawing, and in return the account is built around holding money for longer. A notice tracker account combines that structure with a rate that moves with an external benchmark: the tracker element means the rate follows the Bank of England's Bank Rate up and down, rather than being fixed for a term.

What that means in practice is covered in the guide to Bank Rate, inflation and the UK economy. When the Bank Rate changes, a tracker account's rate changes with it, normally within a defined period set out in the account terms. A fixed rate, by contrast, does not move at all during its term. Which behaviour suits you depends on whether you would rather know exactly what you will get, or follow the market in both directions.

The bank's own website sets out the current notice periods, minimum balances and terms for each account, and those details change over time, so check them there before opening. The general principles, and how notice accounts compare with fixed-rate and access alternatives, are in the savings accounts guide.

ISAs and ISA transfers

Secure Trust Bank offers cash ISAs as part of its savings range. An ISA is a wrapper rather than a separate kind of account: the money inside it grows without being taxed on the interest, within annual allowances set by the government. How the allowance works, and how ISAs fit alongside other savings, is explained in the guide to ISAs.

One limit is worth knowing before you plan a transfer. Secure Trust Bank states that it does not offer APS accounts, the arrangement that lets you carry forward the unused ISA allowance of a deceased spouse or civil partner, but that you can use your APS allowance with another provider by asking the new ISA manager to carry out an APS transfer⁵. If inheriting an ISA allowance is part of your plans, that points you to the wider market rather than this bank.

Transferring an ISA between providers should be done as an ISA transfer, not by withdrawing the money and paying it back in, because withdrawing uses up your current year's allowance. The ISAs guide sets out how the transfer process works and what to check before starting one.

How rates change and what it costs to hold an account

Savings rates are set by the bank and can be changed, and the mechanics of that are set out in each account's terms. For variable rate accounts, including access and notice accounts, the terms explain when and how the bank can change the rate and what notice it must give you. For tracker accounts, the rate follows the Bank Rate mechanically, so a change in Bank Rate flows through to the account within the period stated in the terms. The Bank Rate and the economy guide explains how Bank Rate is set and how it reaches savings rates.

On charges, savings accounts at UK banks generally work on interest rather than fees: the cost to you of holding the account is the difference between what your money could earn elsewhere and what it earns here. Where the bank does levy charges, for example on specific services or on early access to a notice account, they are listed in its terms and on its website, and this page does not carry today's figures. Before opening, read the account terms for the withdrawal rules, any minimum balance, and what happens if you fall below it.

One charge to be aware of sits outside the account itself. The bank's bereavement guidance notes that the Post Office offers a chargeable certification service for certifying documents, alongside professionals such as accountants, solicitors or barristers, and doctors, who can certify documents for the bank⁵. Certification is usually free from a professional you already know, so it is worth asking before paying.

Opening an account: the identity check and your credit file

Opening a savings account with Secure Trust Bank follows the standard UK process: you apply online, the bank verifies your identity and address, and you set up a nominated account for transfers in and out. The bank carries out electronic identity and verification checks, and if those checks fail it asks for additional information⁵.

The legal backdrop is worth understanding. Research by the House of Commons Library explains that banks are required to close bank accounts if they cannot complete the "know your customer" checks required by the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Paying) Regulations 2017⁷. In practice this means that if you cannot be verified electronically, for example because you have recently moved or have a thin credit file, you may be asked for documents, and an application can be refused if checks cannot be completed. The guide to credit scores and credit reports explains how to check your file beforehand and correct errors.

A savings account is not credit, so opening one is not the same as applying for a loan, and a refused savings application is not a credit refusal. But the identity checks draw on some of the same data, so a file that is accurate and up to date makes the process smoother. If you are opening an account for someone else, for example under a Power of Attorney, the extra steps are in the support section below.

Managing the account online and by phone

Secure Trust Bank has no branches, so the account is managed through its website and by telephone. Its support team is available Monday to Friday from 9am to 5pm, Saturday from 9am to 1pm, and is closed on Sundays and bank holidays⁴.

For security, the usual protections apply to any bank you deal with online. If you receive a call or message that claims to be from your bank and you are unsure, Citizens Advice highlights the 159 service, a secure line that connects you directly with your bank so you can check whether the contact was genuine⁸. Never move money because of an unexpected call: a genuine bank will not mind you hanging up and calling back. The scams and fraud guide covers the common scripts and what to do if you have already paid.

Payments into and out of the account are made by bank transfer to and from your nominated account. The rules that govern those transfers, including what happens if a payment goes wrong, are covered in the guide to sending money in the UK and abroad.

Extra support: attorneys, third parties and accessible formats

Secure Trust Bank states that it has a dedicated Customer Care team providing additional support to customers who may need it, covering circumstances such as illness or accident, disability or health conditions, job loss, relationship breakdown, bereavement, mental health and financial difficulty⁴. If any of these apply to you, telling the bank gives it the chance to adjust how it deals with you.

For someone to manage an account on the holder's behalf, there are two routes. To register a Power of Attorney, you download the bank's Use of Personal Data information sheet, complete the form and return it to Freepost SECURE TRUST BANK; if you do not have a lasting Power of Attorney access code, you provide an original or certified copy of the Power of Attorney document. To authorise a third party, both parties read the Use of Personal Data and Third Party Access information sheet, complete the form together and return it to the same freepost address⁴.

The bank can also provide communications in alternative formats for savings accounts: braille, large print and audio. Alternative format documents can take up to one week longer than standard printed versions, and you receive communications in both standard and alternative formats separately⁴.

When an account holder dies

When someone with a Secure Trust Bank account dies, the bank stops further transactions on the account to prevent unauthorised withdrawals or deposits, but the account continues to earn interest, and it stops communications about the account⁵. Notification is made using the bank's Notification of Death form (BT02), together with proof of death, which can be any one of the following, as an original or certified copy: a death certificate; an Extract of Entry into the Register of Death; a Coroner's Certificate of the Fact of Death; a Grant of Probate; or Letters of Administration⁵.

The bank then completes electronic identity and verification checks on the appropriate representatives or executors of the estate, and asks for additional information if those checks fail⁵. Two thresholds and shortcuts matter:

• Joint accounts: only an original or certified copy of the death certificate is required, and the account becomes a sole account in the name of the remaining account holder⁵.
• Small estates: if the total balance of the accounts is under £50,000, the bank can accept a copy of the Will, original or certified, instead of a Grant of Probate⁵.
• Inheritance tax: if funds are needed to pay inheritance tax, the bank needs form IHT423, which is obtained on gov.uk by searching "IHT423"⁵.

Documents that require certification can be certified by a professional person: the bank's list includes the Post Office, an accountant, a solicitor or barrister, and a doctor, and the Post Office's certification service is chargeable⁵. The bank also states that it shares bereavement information with other businesses within the Secure Trust Bank Group, including V12 Retail Finance⁵, so a single notification can reach the group's lending businesses too. Wider guidance on dealing with an estate is in the life events section.

Complaints: three business days, then up to eight weeks

Complaints start with the bank's own support team, by phone or in writing. The bank's published process follows the standard timeline that all UK banks must observe. It aims to resolve complaints within three business days, and where it does, it sends a summary resolution letter. If the complaint is not resolved, it acknowledges it in writing within five business days, gives a progress update at four weeks if the investigation is not complete, and at eight weeks writes to explain any delay and when a final response is expected. After a final response, the customer may be eligible to take the complaint to the Financial Ombudsman Service⁴.

The Financial Ombudsman Service is free and independent, and it decides complaints that the bank and customer cannot settle. Its published case work shows the kind of thing it examines: in one case study, a couple complained that a secured loan was unaffordable, the loan having been taken to clear unsecured debts, mortgage arrears and fund house repairs, and the ombudsman assessed whether the lender had lent responsibly¹⁰. The same principles apply to savings complaints, for example about transfers, interest or administration. How to complain in detail, and what the ombudsman can and cannot order, is in the consumer protection guide.

How money with Secure Trust Bank is protected

Because Secure Trust Bank is a bank authorised to accept deposits², eligible deposits are protected by the Financial Services Compensation Scheme (FSCS), the UK's statutory scheme that pays out when a bank fails¹¹. Research on basic bank accounts notes that providers of these accounts may have a full banking licence, giving Secure Trust Bank as an example¹², and its presence on the Bank of England's list of deposit-taking banks confirms that status².

The bank's own guidance gives two figures for the level of protection: £120,000 per person, and for joint accounts £120,000 each, £240,000 in total⁴. The two statements appear in different places in the bank's guidance and are not reconciled there, so treat £120,000 per eligible person as the figure to check, and confirm the current limit on the FSCS website before relying on it. Protection applies per person per banking licence, not per account: because the V12 brands trade under the same authorised firm¹, money owed to you by those businesses and deposits with the bank sit within one licence.

Two further points of protection are worth knowing. Money you hold with the bank is not protected against your own debts elsewhere, and the "safe account" principle in the access accounts section above explains why the nominated account matters⁶. And if you have borrowed through the group's lending brands, those are regulated credit agreements¹, which means the affordability and complaint rules that the ombudsman enforces apply to them¹⁰. The full picture of who protects what, and where each protection stops, is in the consumer protection guide.

Scotland, Wales and Northern Ireland

Secure Trust Bank's accounts work the same way across the UK: it is an online and telephone bank, so there are no branch differences between nations, and its savings accounts are open to customers in England, Scotland, Wales and Northern Ireland alike. Its bereavement process also recognises documents from all the UK jurisdictions, accepting a death certificate, a Scottish Extract of Entry into the Register of Death, or a Coroner's Certificate of the Fact of Death⁵.

Where the nations differ is in the wider money landscape around the account. If you are dealing with problem debts alongside your savings, the solutions have different names and rules: bankruptcy applies in England, Wales and Northern Ireland, while in Scotland the equivalent is sequestration, which works differently¹³. Scotland also has its own insolvency solution, the protected trust deed, which StepChange describes as similar to an individual voluntary arrangement but with different benefits, risks and fees¹⁴. The debt section explains each option and where free advice is available.

Payment security rules are the same everywhere: the Strong Customer Authentication requirements that govern how your bank verifies online payments are UK-wide¹⁵. And when bank holidays shift payment dates, the principle is UK-wide: an August 2026 government announcement on benefit payments being made early applied across the entire United Kingdom, with Scotland following the same principle despite different bank holiday arrangements¹⁶. More on the differences that do matter, from care funding to council tax support, is in the guide to money in Scotland, Wales and Northern Ireland.