Suits Me Review

suits me card
  • Easy to open
  • No proof of address needed
  • £4.97 or £9.97 per month
  • Saving and budgeting features
  • Cashback rewards

There’s plenty of people in the UK that can’t open a bank account for one reason or another. Maybe they just moved into the country, or they have a bad credit score. Suits Me is focusing on this niche market. 

But how does it stack up to other players in the market? Let’s find out. But first, here’s our short verdict:

People looking for a simple bank account that offers cashback and gives you a free Visa debit card will find Suits Me bank a good choice for their day-to-day banking needs. Those who travel abroad a lot or need more features like loans, overdraft, or savings accounts need to look elsewhere.

suits me review

About Suits Me

Suits Me card was launched in 2015 in Cheshire, England. It’s a challenger bank that’s trying to carve out a niche in the UK banking sector. Since 2015, they have acquired more than 100,000 customers and have won numerous awards for their banking services.

All Suits Me bank account holders get a current account and a contactless Visa debit card with a secure online banking facility and free mobile banking app to manage their finances.

Why is Suits Me so special?

Suits Me positioned itself as an alternative banking solution to financially excluded people from mainstream banking either because of poor credit, no proof of address, or aren’t a good fit for some other reason.

Their vision is “to be the UK’s most inclusive banking solution and financial services provider, eliminating financial exclusion and connecting everyone to a banking facility to safely and securely manage their money and finances.”

And they’re succeeding in it, as you don’t need a proof of address to open an account which can be hard to get by when you’re new to the country or live in a shared household. 

Suits Me pros and cons

Pros

  • Easy to open
  • No proof of address
  • Cashback rewards
  • Free Suits Me transfers
  • Multilingual customer care
  • Free debit card

Cons

  • First load fee
  • Fee for ATM withdrawals
  • Cash top-up fee

Where is Suits Me available?

Suits Me Card or bank, as some people call them, is only available to people that live in the UK.

How to open a Suits Me bank account

To open a Suits Me account, visit their website. You’ll need:

  • To be over 18 
  • To have an address in the UK where they can send you a debit card, not as a proof of address
  • To have one form of ID (UK driving license, passport or a national ID card)

suits me application

The company doesn’t do credit checks and doesn’t need proof of address, and the whole process is finished within minutes. You’ll have instant access to your online banking account and mobile banking app, and your new Suits Me debit card will arrive in 3-5 business days at your address.

How to add funds to Suits Me Card

You can add funds to your Suits Me account in several ways:

  • Cash – deposit cash at any of the 28,000 PayPoint locations in the UK
  • Bank Transfer – Faster Payments, BACS and CHAPs payments can be made into your Suits Me account
  • International Transfer – can be made into your account in 5-7 working days using your IBAN
  • Wages – your employer can transfer money using your account number and sort code

The first time you load your account, you’ll have to pay the ‘First load fee’ of £9.97.

Suits Me accounts

There are two Suits Me accounts to choose from – the Premium and the Premium Plus account. 

Premium

  • £4.97/month
  • Free debit card
  • ATM Withdrawals 
    • UK: £1.25
    • Europe: £2.50 plus 2.35% of the transaction value
    • International: £1.97 plus 2.57% of the transaction value
  • Cash Top-Up £0.99 + 2.6%
  • First load fee of £9.97

Premium Plus

  • £9.97/month
  • Free debit card
  • ATM Withdrawals 
    • UK: 4 free, £1.25
    • Europe: £2.24 plus 2.35% of the transaction value
    • International: £1.97 plus 2.57% of the transaction value
  • Cash Top-Up £0.50 + 2.6%
  • First load fee of £9.97

Both accounts come with a contactless Visa Debit card, online banking, mobile banking and the cashback reward scheme. The only difference between the two is the monthly fee, different fee structure, and the fact that you get four free UK ATM withdrawals with the Premium Plus account. 

There are also some limits to both accounts:

  • Maximum daily ATM withdrawal: £300.00 (£500 Premium Plus)
  • Maximum balance: £10,000.00 
  • PayPoint daily pay-in: £249.00 
  • Minimum first load: £20.00 
  • Expiry: 36 months

Suits Me card

The Suits Me account comes with a free Visa debit card. You can use it anywhere where Visa cards are accepted – in-store or online. It comes with the contactless payments option, so all transactions below £45 can be paid by tapping. 

It has all the usual security precautions, including blocking it or unblocking it in case you lost the card. 

You don’t even need to take out the card from your wallet to use it as you can easily connect it to Google or Apple Pay and use your phone to pay for stuff.

Suits Me app

You can download their dedicated mobile banking app from the Apple Store and Google Play Store. You can easily manage your finances with the app, although some people find it a bit unresponsive. Still, you can check your balance, of course, view transactions, statements, create and manage standing orders and direct debits. 

You can also control your Visa card from it. For instance, to activate the card, retrieve the PIN, report the card as stolen, or to block or unblock it.

Is the Suits Me card fit for travelling abroad?

You can use your Suits Me Visa card anywhere in the world, but that does come at a cost, and you could find better deals elsewhere if you tend to travel abroad a lot. 

Within Europe, Suits Me will charge you £2.50 plus of the 2.35% transaction value, and outside of Europe, it’s £1.97 plus 2.57% fee. The same for ATM withdrawals. 

I think you can agree that those aren’t the cheapest rates, by far. If you aren’t travelling or using the Suits Me card abroad, you’ll be glad to know that UK transactions are free. 

Saving and budgeting 

Like other digital banks on the UK market, Suits Me offers a way to put some money aside for things like utility bills, rent, mortgage, or any other stuff that is worth saving for, like holidays or a new car, perhaps.

They call this feature ‘envelopes’. There are already a dozen envelopes created for you, but you can make some new, bespoke ones. For each envelope, you can select the date and the amount of money that you’d like to be moved from your account to the chosen envelope each month.

Cashback 

Frequent shoppers will be happy to know that Suits Me Card offers cashback rewards from some of the most popular brands in the UK. Here are some of the retailers:

  • Argos 4%
  • Asda
  • B&Q
  • Boardman 6%
  • Carpetright 8%
  • Clarks 7%
  • Ernest Jones 7%
  • Foot Locker 7%
  • Goldsmiths 12%
  • Halfords 7%
  • New Look 7%
  • Sainsbury’s 4%

The cashback is paid back into your Suits Me account and the end of each month.

Discounts

Apart from cashback, Suits Me is also offering you a dozen discounts on their website. Granted, you can use them without being a Suits Me customer. Go have a look at their website and snag one for yourself now. There’s Easy Storage, Taste Card, Buy a Gift, Muscle Food, and others.

How is Suits Me regulated?

Suits Me isn’t a bank but a fintech company with an e-money license with the Financial Conduct Authority. They have to obey by their rules and keep deposits safe under e-money legislation rules.

Is my money safe with Suits Me?

Because it’s not a bank, your deposits aren’t insured with the FSCS scheme, but your deposits are kept in a separate account in a respectable banking institution. So, if something were to happen with Suits Me, you’d get your money back. 

E-money institutions are required to keep customer deposits separate by the authorities.

Suits Me also applies industry-standard security like website encryption, One-Time Passcodes (OTPs), or card control.

Competitors

Revolut 

revolut

Revolut has become a global player in the neobanking world and has introduced many features that other challenger banks have started copying. While the company has to work out some kinks, it does offer plenty of incentives for you to switch to their slick app.

Monzo

monzo

Monzo is registered as a bank in the UK and can therefore offer some banking products like loans and overdrafts. The government also insures your deposits for up to £85,000.

Starling

starling bank

Starling is winning award after award in the UK banking sector. It has only one type of personal account, and it is free with no monthly fees. It might not offer all the bells and whistles, but it’s a superb offering and one of the best if not the best bank account in the UK, period. 

Wise

wise

We recently made a comprehensive review of Wise and its low money-transferring fees and the ability to hold, receive and send money in more than 55 currencies. It’s great for travelling and for transferring money in multiple currencies and countries. 

Customer reviews

Suits Me bank has a 4.3-star rating out of 5 on Trustpilot, with 75% of 3,000 reviewers giving it an excellent mark and 13% a bad one. With a 4. score, Suits Me is placed lower than Monzo (4.5), Starling (4.4), and the same as Revolut (4.3), for example.

People who disliked their service mention accounts getting blocked with their funds frozen, unresponsive customer service, and HMRC grants being put on hold. 

Customer service

Suits Me bank boasts a multilingual customer service team that speaks in English, Romanian, Polish, Bulgarian, Russian and Spanish. You can get them over the phone on 0330 159 0199, via email at [email protected], or through live chat in-app or on suitsmecard.com (positioned bottom right).

The customer service team is available Monday to Friday, 8 am to 6 pm. 

The bottom line

Suits Me serves a relatively narrow niche of unbanked and underbanked people in the UK. If you cannot open an account with a high street bank or other digital banks like Starling or Monzo, Suits Me bank is an okay choice that offers a no-frills account with unexpected and, in our opinion, unnecessary fees.