Debit Card vs Prepaid Debit Card Suits Me provides customers with prepaid Mastercard® debit cards. The main difference between the Suits Me debit card and a high street bank debit card is that you can only spend money that you have in your account. This means there are no overdrafts or loan facilities, and you cannot spend more than you have. But because credit is not offered, a credit check is not needed, making Suits Me accounts accessible to everyone. If you’re curious about the difference between a debit and a credit card, check out our other blog: What are th ..read more

Once Christmas is done and dusted, many of us will have resolved to cut back in some way or another, but then we are bombarded with January sales and ‘further reductions’ on things we probably don’t need anyway. However, this all means that being fiscally disciplined is never an easy thing and with the new year well and truly under way, trying to save money remains a priority for many people, whether that means being able to put some money away each month or simply to have a little extra cash for life’s various expenses. This is a difficult time of year to save, as the cold weather means you ..read more

Pros & Cons of a Cash Only Lifestyle Although we are increasingly moving towards a cash-free society, there still remains billions and billions of pounds worth of coins and banknotes in circulation, which suggest that many people are not ready to give up the cash just yet. While more and more people use electronic methods to make payments such as debit cards, credit cards and mobile payments, a sizeable amount still prefer to use cash for most of their transactions. There are a number of reasons for this and being cash only doesn’t just mean that you are walking around with a bulging ..read more

Missed payments, defaults, settled accounts, CCJs, HCJs, administration orders, bankruptcy orders DROs, student loans IVAs, mortgage debts. From the moment you take out credit in some form, and that includes getting your first mobile phone in your name and paying for it yourself, you have a credit file. When you apply for a loan, a credit card, a mortgage, or buy items on credit, the lender or creditor will look up your credit file which shows how you have managed repayments. If you maintain regular payments and manage your money efficiently, your good credit rating will remain on your file f ..read more

Open your account today People have been transferring money between bank accounts for decades, considering it a straightforward and standard practice. All you need to transfer money to someone else’s online bank account is their account number and sort code. You can transfer money from your own online current account to another in seconds. But what about transferring money between and credit card and a debit card? It is possible to transfer money from a credit card to a debit card, but there are several things you need to take into account first. You may want to send money to anothe ..read more

Your net worth is the value of your assets (everything you own), minus your total liabilities (debts). Knowing your net worth a useful way of measuring your financial wellbeing and we will explain how you can figure it out, but before we get into that, let’s explore more about why your net worth is a useful thing to know. What is Your Net Worth? You may have heard of the Forbes Rich List which showcases the net worth of celebrities and entrepreneurs, like Bill Gates, who currently has a net worth of $125.5 billion US dollars (£88.6 billion GBP). Although, it’s doubtful that your net ..read more

As always we will be running our competitions this month, this month’s prize is a family ticket (4 people) to ONE of the following: Alton Towers Thorpe Park Adventure Island To enter, all you need to do is: Make at least 4 contactless card transactions during the month,  Load your account with £100 or more during the month, Use your Suits Me card at an ATM 2 times during the month. The lucky winner will be picked randomly on Tuesday 7th May, find our terms and conditions here. The post Introducing our Theme Park Ticket Giveaway! appeared first on Suits Me ..read more

What is an e-Money Account? An e-money account exists purely in digital form. You manage the account entirely through an app on your smartphone, eliminating the need to handle cash. You can use it to pay for goods and services by utilizing your phone as a contactless debit card. Alternatively, you can use it to send money electronically. Are e-Money Accounts the Same as Online Current Accounts? They share many similarities, including being able to view balances and transactions in a click or two. However, the accounts do differ in several ways. With traditional current accounts, bank ..read more

Paying bills can be a pain, especially nowadays when there is so much to remember. It seems like our financial lives are just an endless stream of outgoings – electricity, gas, phone, broadband and mortgage or rent and this even before you factor in the fun stuff like Netflix or music streaming services. It can be hard to keep on top of it all, and that’s why setting up regular payments from your bank accounts is a good idea. That way, your bills get paid automatically for you, and you don’t have to worry about missing a payment, which can affect your credit rating. When it comes to setting u ..read more

Personal finance is to do with the way you handle your money and involves all aspects of financial decision making. Learning practical financial skills is key to leading a healthy lifestyle, one that brings security and removes the stress of worrying about money. Improving your understanding across the different areas of personal finance including, budgeting, debt management, saving, and in some cases investing, will help you to prosper in your day-to-day life and help to add clarity to any big or small financial decision. When seeking financial freedom, your personal finance plays a vital ro ..read more