If you’ve filed for bankruptcy, you might not know where to turn to get a bank account. But did you know that you can get a thinkmoney Current Account no matter what stage of bankruptcy you’re at?
No credit check
Your bills are paid on time
Manage money with the app
Not in the best financial shape? You can still apply!
Being declared bankrupt can affect your finances in all kinds of ways. Your ability to open a bank account is just one of them.
We think everyone should be able to get a current account, so filing for bankruptcy or being a discharged bankrupt won’t stop you.
You might have had applications turned down by high street banks and feel like there's nothing you can do. But as long as you're 18 or over and live in the UK for at least six months a year, you can open an account with us.
How will the account help me?
Getting back on your feet at any stage of bankruptcy can be a challenge, but a thinkmoney Current Account can help to make it easier.
Pay your income directly into your current account
Money is set aside from your income to pay essential bills
The rest is all yours, and is transferred to your card
Bankruptcy will affect your credit rating for six years from the day it begins. This can mean you'll be turned down when you apply for a bank account, or if you need credit in the future.
The account can help you to get your credit score back on track by making sure that your bills are paid on time.
We found that 73% of our current account customers improved their credit score banking with us.*
You can start to rebuild your credit rating, and make a fresh start with your finances.
£10 monthly fee
*Based on a sample of customers who held an account for 12 months and previously had limited credit history or substantial credit use
What happens when you’re declared bankrupt?
You're officially declared bankrupt when a bankruptcy order is made.
Once your bank account provider is made aware of the order, your account will be ‘frozen’.
Some banks may decide to close your account altogether, so you’ll need to open a new account elsewhere.
What is a discharged bankrupt?
Once you’ve completed bankruptcy, you’re known as a discharged bankrupt.
In most cases, bankruptcy lasts for a year, and when it ends you’re discharged. Following this, you may be expected to make payments towards your debts for up to 3 years.
But it's not your only option!
There are other accounts available, such as the thinkmoney Current Account. You can apply for an account before, during or after bankruptcy.
Because the account is designed to make managing your money hassle-free, it could be ideal to help you bounce back.
The account for everyone
Our account isn't just for people who've been made bankrupt. No matter what your credit rating is, or what your finances look like, you can get an account with us.
If you’re keen to get on top of your budgeting and to make sure you’re paying your bills on time, then this could be the account for you.
Sound interesting? Apply for your account online today!
£10 monthly fee