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Bank account after bankruptcy

If you’ve filed for bankruptcy, you might be looking for banks that accept bankrupts. Did you know there's a bank account that's available to undischarged bankrupts?

The thinkmoney Current Account:

Doesn't need a credit check

Helps you pay your essential bills on time

Lets you manage your account online, by phone or by text

Bank accounts for bankrupts

Being declared bankrupt can affect your finances in all kinds of ways. Your ability to open a bank account is just one of them.

If you've applied for current accounts from high street banks, you might have had your applications turned down. You might feel there's nothing you can do. But there are other accounts that won't automatically reject your application.

That's where thinkmoney could help you

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What we offer is an alternative to a bankrupt bank account that is ideal for people in your situation. The thinkmoney Current Account provides you with access to things like Direct Debits and cash machines, along with a level of personal service you'd struggle to find with other banks that accept bankrupts.

Your bankruptcy won't even be an issue: whatever your credit rating, you just have to prove that you're a UK resident aged 18 or over. You can even apply if you're going through bankruptcy right now.

So, if you've been declared bankrupt in the past (even if you're an undischarged bankrupt today) and you're looking for a bank account after bankruptcy, read on and find out how our account works. For just £10 per month, it's excellent value for money.

Bankrupt bank accounts - the alternative

We believe that having a bad credit history shouldn't stop you from having access to the best financial products. That's why we introduced the thinkmoney Current Account.

The account helps you to pay all your essential payments on time, so it’s an ideal bank account for bankrupts. It’s designed to get your finances under control, which is so important if you’re insolvent.

It's an alternative to high street bank accounts with a two-account system. Money for essentials like bills and repayments is kept in one and spending money in another so you can easily manage your money and start getting your life back on track.

If you're looking for a fresh start, what could be better than knowing you're in full control of your finances?

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Two-account banking system

Your thinkmoney Current Account is a combination of two accounts in one. The ‘Salaries’ account is for your essential costs like bills, rent or loan repayments. Your spending money sits in the ‘Card’ account.

All of your monthly bills are paid out of your Salaries account and the rest is transferred to your Card account. This means you can only spend what’s in your Card account that month.

We help you manage the essential commitments you've told us about, putting aside enough money to pay them – and making sure they're paid on time. So the thinkmoney Current Account is a go-to bank account for bankrupts.

Open an account during bankruptcy

You can apply for one of our accounts before, during or after bankruptcy. And since there's no credit check, we can usually approve your application in just minutes!

Our personalised banking system gives you the peace of mind that comes from knowing the money you're spending isn't meant to be going elsewhere. What's more, having your thinkmoney Prepaid Debit Mastercard® means you can access this money whenever you want.

Hands-on help for bankrupts

The thinkmoney Money Managers know how stressful going through bankruptcy can be– and that's why they'll be there for you when you need them the most. Any advice you require, any questions you have about your finances, any new instructions you need setting up, our Money Managers are just a phone call away.

So, if you've been made bankrupt, we could offer you exactly what you're looking for – a budgeting service, expert financial advice when you need it, and peace of mind that the money you need for essential costs is being set aside every month, so you can't accidentally go over budget.

More than just a bank account for bankrupts

Our account isn't just for people who've been made bankrupt. It’s suitable for those in all kinds of financial situations, including people with excellent credit ratings.

If you'd like to open a thinkmoney Current Account, just apply online and you can start looking forward to a better financial future.

Our account costs £10 a month or £15 a month for joint accounts.

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

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 (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.

Token TPP Interface Website

For more information on how we will use your personal information when you have an account with us, you can read our 'How we use your personal information' leaflet. For more detailed information you can also read our Privacy Policy.

Accounts opened after 7th November 2018

Accounts opened before 7th November 2018

Legal Information