FAQ's
I have a bad credit history - can I have a Prepaid Current Account?
Yes - this is a guaranteed bank account available to anyone, regardless of their credit history. We just need to confirm your identity, which can be done electronically, at the time of application.
How long will it take to set up an account?
Applying online using the quick and easy application form takes a matter of minutes 0 once your ID checks are completed you will be issued with your new Prepaid Current Account number and sort code straight away. You should receive everything you need to operate the account (your prepaid card, PIN number, paying in slips and welcome pack) within 7 working days of application.
Is the Prepaid Card a credit card?
No. The card is linked to your Prepaid Current Account. Simply retain sufficient funds in your current account to cover your regular commitments and outgoings - the rest can be transferred onto your Prepaid card in a similar way to a debit card. But you can only spend the amount of money that you have pre-loaded onto the card, so you know exactly where you stand.
How do I load money from my Prepaid Current Account onto my card?
You can load money onto your card quickly and easily, using online banking or our automated telephone service, 24 hours a day, 7 days a week*.
How do I pay money into my Prepaid Current Account?
Salaries, wages or benefits can be paid directly into your Prepaid Current Account by electronic transfer. Cash and cheques can be paid in over the counter at any branch of Barclays Bank, using the paying in slips you receive with your welcome pack. (Please note: cash and cheques paid in at Barclays can take 7 full working days to clear, and will clear at 5pm on the 7th working day). You can also pay cash into your Prepaid Current Account at any Payzone retail outlet - so long as the cash is paid in before 10.00pm, in the majority of cases it will be credited to your account the very next day
What is the STB Reward Scheme?
As a current account customer you are automatically enrolled into the Rewards Scheme which gives you the facility to earn up to 4% cash back paid into your account.
How do I switch from my existing bank account to the Prepaid Current Account?
We'll arrange for all your existing direct debits, standing orders and regular payments to be transferred to your new Prepaid Current Account. There'll be no complicated forms for you to fill in or phone calls to make. We'll do all the work for you! This process takes approximately 10 - 14 working days.
Will I be charged for going overdrawn?
No. You cannot go overdrawn with the Prepaid Current Account. It is designed to help you keep control of your finances. There'll be no hidden or unexpected charges coming your way.
Can I set up direct debits and standing orders?
Yes, the account works like any other current account. You can set up standing orders online and manage both standing orders and direct debits online.
Does the account come with a cheque book?
No, we do not provide a cheque book with this account. However, you can request a cheque via our online banking service and it will be sent to your home address pre-completed with the details of the person or service you wish to pay or to an address of your choice. A fee of £2.50 applies for this service.
Is the Prepaid Card a chip and PIN card?
Yes - we take your security very seriously so the card is chip and PIN protected.
Why do you charges £0.50 for every ATM cash withdrawal I make?
This fee is what we are charged by the banks for transactions made with our cards.
Can I see my card balance at an ATM?
As from October 2010, we have introduced the facility to check card balances at all MasterCard® ATMs. Checking balances is free of charge but the 50p transaction fee for cash withdrawals still applies.
Some companies do not recognise my sort code. Why is this?
If a company does not recognise our sort code they need to update their sort code directory. Our sort code is 18 months old. Once they have done this the sort code should be recognised.
Does this account accept CHAPs payments?
CHAPs payments into the account are accepted, however, depending on the payment sent it can take up to 24 hours to show as a credit in your account.