Paying money into your account
Paying money into your account should be a simple and hassle-free experience - and that's what you get at thinkmoney.
There are various methods of paying money into your account, and as a thinkmoney customer, you'll find it useful to understand the 'ins and outs' of each one.
Faster Payments / BACS / CHAPS
Paying money into your account via Faster Payments, BACS or CHAPS is simple. In most cases, you'll just need to provide the payee with your account number and sort code for them to be able to complete the transaction.
When money is paid into your account using Faster Payments or CHAPS, the funds will usually be credited to your account within 2 hours of receipt, 7 days a week. Funds received after 5.00pm will normally be credited to your account the next morning.
When money is paid into your account using BACS, the funds will be credited to your account on the working day we receive them.
A little information on Faster Payments, BACS and CHAPS
Faster Payments is an electronic transfer which was introduced to speed up the transfer of funds between accounts in the UK.
BACS is a service allowing organisations of all sizes - your employer, for example - to make payments via electronic transfer directly into your account. 90% of the UK workforce are paid this way.
CHAPS is an electronic same-day payment service allowing money to be transferred into your account.
If you've got any questions about paying money into your account, just give one of our Money Managers a ring on 08444 155 155.
If you want to pay cash directly into your thinkmoney Personal Account, simply head into any Royal Bank of Scotland (RBS) or Natwest branch with your paying-in book.
If paid in at RBS before 5.00pm, the funds will be credited into your account that day. If paid in after 5.00pm, the funds will be credited the next business day. If paid in at NatWest, the funds will be available on the third business day.
You can pay a cheque into your account in the same way you would pay cash into your account. Simply take your paying-in book to an RBS or NatWest branch. The funds will be available up to eight business days later.
You can also post us a cheque to be paid into your account:
South Langworthy Road
Cheques take eight working days to clear into your account.
Please see our terms & conditions for further information about paying cheques into your thinkmoney Personal Account.