Bank Accounts for Bad Credit – Open Online Today
Worried bad credit will stop you getting a bank account?
If you’ve been searching for bank accounts for bad credit, try the thinkmoney Current Account, even if you’ve been rejected elsewhere. It can help you make sure your bills get paid on time!
A clear, simple monthly fee of £10 (Joint accounts £15).
Can I open a bank account online with bad credit?
You can open a thinkmoney Current Account online in a few minutes, even if you’ve got a bad credit history. Click ‘Open an account’ to get started.
When you choose us, you get all the benefits of a basic bank account, plus:
Get a bank account with bad credit
Don’t worry about your credit history. The thinkmoney Current Account is a current account designed for those with bad credit. We won't run a credit check when you apply for an account.
Our account costs £10 a month or £15 a month for joint accounts. When you sign up, you can:
- Check your balance, set up Direct Debits and move money around online
- Manage your account online, by text or by phone
- Have your salary or benefits paid directly into your account
To apply for a bank account, you need to be:
- aged 18 or over
- a UK resident
We take the hassle out of switching
Should you want to open an account with us to enjoy a stress-free banking experience, you’ll find it easy to switch with the Current Account Switch Service.
Take your payments with you
There’s no need to update your details for every payment. We’ll move all your regular incoming and outgoing payments to your new account and close your old account for you.
Payment made to your old account? No worries
We’ll transfer your balance and redirect payments made to your old account to your new account for at least 36 months when you set up a current account for bad credit with us.
Any problems? We’ll cover the costs
Under the Current Account Switch Guarantee, we’ll refund any interest and charges if something goes wrong with your switch.
PLUS expert money help
Nobody likes paying bills. Especially when you’ve got lots of other expenses to worry about.
So we created an account which does the work for you. We’ll keep money aside for your important bills so you know they’ll be paid on time.
If you’re already struggling with your money, a thinkmoney Current Account could really help you manage your finances.
You can get a thinkmoney Current Account if you’re over 18 and a UK resident – it’s as simple as that. It doesn’t matter if you’ve had bad credit in the past or you have no credit history as we don’t carry out a credit check when you apply for your account. All we need to do is verify that you are who you say you are and you can open an account online.
The Financial Conduct Authority requires us to publish information about our personal current accounts. For more information about this click here.
These documents inform you about the fees for using the main services linked to the payment account. It will help you to compare these fees with those of other accounts. Fees may also apply for using services linked to the account which are not listed here. Full information is available in our terms and conditions. A glossary of the terms used in this document is available free of charge.
For information about accounts opened before 7th November click here.
For information about accounts opened after 7th November click here.
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
- The service is free to use and you can choose and agree your switch date with us.
- We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
- If you have money in your old account, we will transfer it to your new account on your switch date.
- We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
- If there are any issues in making the switch, we will contact you before your switch date.
- If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
For more information read more at www.currentaccountswitch.co.uk
You can apply for the credit facility three months after you’ve paid your first income into your thinkmoney Current Account. This means you could access a credit facility up to £400. We’ll need to carry out some affordability checks and then you’ll be able to apply for and access the credit facility through Online Account Management, subject to eligibility.
The money you hold in your thinkmoney Current Account is not protected under the Financial Services Compensation Scheme (FSCS). As thinkmoney is authorised and regulated by the FCA as an e-Money Institution, your money is protected and, unlike the FSCS, this protection is not limited to a certain amount. This means that your money is held separately and securely and, if something were to happen to thinkmoney, you would always receive it back.
Yes, there is an option in the online form to open a joint account. Joint accounts cost £15 per month.
Think Money Limited has partnered with Token.io (UK) to provide and support a dedicated interface for Third Party Providers offering AISP, PISP and CBPII services.
TokenOS is the operating system for open banking that allows banks, merchants, enterprises and individuals to interact in a global marketplace of financial services.
If you are a Third Party Provider offering AISP, PISP and CBPII services, please use the link below to access the Integration Guide for information on how to register as a member to access information or make payment requests using the Think Money dedicated interface.
Accounts opened after 7th November 2018
Accounts opened before 7th November 2018
From the 13th September 2019 the below Terms and Conditions will come into effect: