Bank Accounts with Prepaid Debit Card
Do the basic bank accounts you've looked at come with a prepaid debit card?
The thinkmoney Current Account does. It’s a basic bank account which helps you manage your spending with a thinkmoney Prepaid Debit Mastercard®.
All for a flat monthly fee of £10*
So how does a Prepaid Debit Mastercard work?
In exactly the same way as a ‘normal’ debit card, but with one major difference – the card is not linked to your bank account.
The money available on your prepaid debit card is just that: prepaid. Once the money for your bills has been put aside, the rest of your money will be automatically moved to your prepaid cash card.
Now all you need to do is decide how to spend it.
It’s as simple as that!
No unexpected charges
If you’re looking for the best prepaid debit cards, you’ve come to the right place.
The money that you have to spend is loaded onto your thinkmoney Prepaid Debit Mastercard.
Use your prepaid debit card to buy things in stores or online – just look for the Mastercard Acceptance Mark.
You don't need to worry about bank charges adding up, as there are no fees for us refusing a payment due to lack of funds.
All this and more, for one ﬂat monthly fee.
*£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 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.