Bad credit won’t hold you back
If you have bad credit or a CCJ, bank account options are still available to you. We’re not interested in your credit history at thinkmoney, so you could open a Current Account with us if you’ve been turned away elsewhere.
Here's how we can help:
No credit checks
We don’t run credit checks. As long as you’re over 18 and you live in the UK, you can open a thinkmoney Current Account.
Boost your credit rating
Your credit rating takes a big hit when you get a CCJ. So choose the CCJ bank account which helps rebuild your credit score. The thinkmoney Current Account helps you pay your bills on time every month, and paying your bills looks great on your credit report.
No overdraft fees or unexpected charges
We won’t charge you for cash withdrawals in pounds in the UK, or if we are refusing a payment due to lack of funds.
Don’t worry about having a CCJ – you can still open a bank account with us
We won’t turn you down if you have a CCJ, bad credit or you’re going through bankruptcy, unlike some banks.
We take the hassle out of switching
For a simple and stress-free switch to thinkmoney, use the Current Account Switch Service.
Build your credit rating
It can be daunting to receive a CCJ if you’ve been struggling with your debts. Particularly as a CCJ will stay on your credit report for six years.
Having a CCJ on your credit report can damage your credit rating and make it difficult for you to borrow money in the future. You might also struggle to open a bank account as traditional accounts will usually credit check you.
You don’t have to worry about that with a thinkmoney Current Account. We don’t run credit checks, so you can open an account if you’ve got a CCJ or bad credit.
Plus, we’re here to help you get your finances back on track. We’ll keep money for your bills and repayments separate and make sure you pay them on time, which could improve your credit rating.
And if you need any help our Money Managers are just a phone call away. There’s no unexpected charges from us either so you’ll always know what’s coming up in your budget.
A Current Account built around you
With a thinkmoney Current Account, you can:
- Know exactly what’s yours to spend after we set aside the money for your bills.
- Get your credit rating back on track as we’ll help you to never miss a bill.
- Check your balance, set up Direct Debits and use Faster Payments for sending money within the UK online.
- Receive budgeting help from our UK-based Money Managers.
To get started, you need to be:
- Aged 18 or over
- A UK resident
£10 per month Joint Account
£15 per month
We've been awarded 4 stars by the Fairbanking Foundation.
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: