Never used them mate but would make a couple of points in case it helps:
-3.9% handling seems very steep - ask them to justify this, I could understand maybe 2% tops, that seems like a bit of a rip off.
-Don't think you can pay cash into an account by card (cc cheques excepted). But if you even did that would only cover the account holder going under. Card companies only cover the first port of call for your hard earned.
Gut feeling is just don't bother with the hassle. Why not pay as you go - any respectable school will allow this. If they don't - ask why!!
Searching prune will show many more examples of people being done over by schools - a girl recently gave a school in SA over 8k apparently before she even arrived. Needless to say no-one met her off the plane when she arrived!! Don't let it happen to you.
SK