Ive been with moneyway (secure trust bank one-bill) for 15+ years. Until now I was happy that a) they paid all my bills on one day b) they banked up my overpayments giving me a lovely lump sum which got me out of pickles c) I saved in the long run as they had deals with vendors However, it is now time to say goodbye because: a) Banks give me direct debit rewards (£2 per DD) b) moneyway no longer send me the lump sum, instead spread it to reduce my monthly bills (my money, so I should have it back) c) They send me letters when i set up a direct debit then dont pay them! This caused me grief when getting a new credit card, they didnt pay the insurance either causing me to have my insurance cancelled - they should just set it up, the bank dont ask me if i want a DD setting up they just do it. d) I dont see the point of them anymore - i can pay all my bills and switch companies (utility) without having to ring them up etc. from my current account with normal Direct debits. e) what do the bank do anymore?? They seem like they move from one bad new product to the next, so stability is poor. f) the sort code doesnt always work. I used to love OneBill, and would try to get all my mates on it, but now i just cant justify it - things have moved on.

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I have been with Moneyway for about 8 years. At first I couldn't fault them, service was brilliant. As someone who gets easily confuddled with paying bills on time, they were a great help.

I didn't know however that I was paying into a redundancy insurance policy until it appeared on my statement two years back. I didn't even know what I was paying to use their service. Neither item was listed.

As it happened, I did need to use the insurance policy. However, as I intended to claim income support rather than jobseekers, the insurance would not pay up. Because I couldn't give income support details of the what the insurance were paying, income support wouldn't pay up. I went for six months with no money from either. Moneyway, despite being informed of the situation stopped paying my bills.

When my insurance did start to pay, it was backdated. Too late though for interest charges and credit rating. Because of the huge foul up I wasn't sure when cover would actually end (officially end yes but because i'd had to pay a lot of the bills myself for months there would be spare money iyswim?). When the cover ended I cancelled the policy (found out I had been paying £50 a month for it which was never on my statement!!) I asked Moneyway to inform me when I needed to start paying a weekly amount again, they promised to do so.

They did not. In January my account was in so much credit I was able to transfer some money back to my current account. This week I have been referred to Moneyway's debt collection dept. No contact from them in between. Apparently I have a week to sort it out.

I will shortly be closing my account.

Once a good idea when the internet was not around, but now it's far easier to control your own finances on-line.
Expensive privilege and I have found their payment protection policy is poor,45 days before you can claim then wait another month for payment. 2 1/2 months is a long time without cover and you still need to find those payments! that's some peace of mind (NOT) Need to prove & supply more in depth details for job searching than both my mortgage & Job centre combined.
Their policy should explain when you actually receive your protected payment money. Please beware! I have paid this protection for 18 years and never used it till now. Should have saved the money myself, that way I would have the money straight away when I was made redundant after 26 years.