thinkmoney Current Accounts

thinkmoney Current Accounts logo
  • The thinkmoney Current Account can be compared with others in the table below.
  • Compare up-to-date interest rates, fees, credit facilities and other features.
  • Apply online directly with thinkmoney by clicking on the relevant link.
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Compare thinkmoney Current Accounts

  • thinkmoney logo

    thinkmoney Account

    • Monthly Fee
      £10
    • Interest Rate
      0%
    • Arranged Overdraft Rate
      No overdraft
    • Minimum Monthly Credit
      None

Compare similar products from other providers

  • Starling Bank logo

    Starling Bank Personal Current Account

    • Monthly Fee
      Free
    • Interest Rate
      0.05%
    • Arranged Overdraft Rate
      15.0%
    • Minimum Monthly Credit
      None
  • Barclays logo

    Barclays Bank Account

    • Monthly Fee
      Free
    • Interest Rate
      0%
    • Arranged Overdraft Rate
      35.0%
    • Minimum Monthly Credit
      None
  • first direct logo

    First Direct 1st Account

    • Monthly Fee
      Free
    • Interest Rate
      0%
    • Arranged Overdraft Rate
      0%
    • Minimum Monthly Credit
      None

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Information written by Tim Leonard Last updated on 13 September 2021.

thinkmoney Current Account FAQs

What is thinkmoney?

thinkmoney is an electronic money institution and credit broker that offers current accounts, loans and credit cards. It is based in the UK and regulated by the Financial Conduct Authority (FCA). It launched in 2001 with the introduction of the thinkmoney Current Account.

How does the thinkmoney Current Account work?

If you hold a thinkmoney Current Account, you can arrange to have your wages, benefits and pension paid straight into it. Cash and cheques can be paid in at the Post Office and there is no minimum amount you must pay in.

To help you better manage your finances, the account automatically divides your funds into two separate pots – one to cover bills and one that you can spend on the debit card you are given with the account. The account can be managed 24/7 using the thinkmoney Current Account app or by registering for online banking.

What fees does a thinkmoney Current Account charge?

The thinkmoney Current Account has a £10 monthly fee. However, there are no charges if you have a payment refused because you don’t have enough money in your account and a direct debit bounces.

Is thinkmoney safe?

thinkmoney is authorised and regulated by the FCA and is an authorised Electronic Money Institution. This means your money is required to be protected using a system known as safeguarding and held in a separate safeguarded account at the Royal Bank of Scotland. Should thinkmoney fail, it means your money should be protected from creditors and your money can still be returned to you subject to whatever charges are levied by an insolvency practitioner, assuming safeguarding rules have been followed correctly.

Can I open a thinkmoney Current Account?

If you’re aged 18 or over and live in the UK for six months of the year, you can open a thinkmoney Current Account. A credit check isn’t carried out on those who apply, so if you have bad credit or no credit history you should still be able to open an account. thinkmoney may need to see documents to verify your identity, such as a passport or UK driving licence.

How long does it take to open a thinkmoney current account?

It’s possible to apply for a thinkmoney Current Account in a matter of minutes. If the information you provide can be verified without the need to send supporting documents, the card you get with the current account will be posted immediately. If thinkmoney needs you to provide some documents, these will usually be checked within one working day.

Can I switch my existing current account to a thinkmoney Current Account?

Yes, you are able to switch to a thinkmoney Current Account using the Current Account Switch Service. thinkmoney will do the hard work for you and make sure your money and monthly payments are all transfered over to your new account.

About the author:

Tim draws on 20 years’ experience at Virgin Money, Moneyfacts and Future to pen articles that always put consumers’ interests first. He has particular expertise in mortgages, pensions and savings. Read more

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