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What to do if you need a bank account fast

Open a thinkmoney Current Account in a few minutes, even if you’ve just moved to the UK.

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£10 monthly fee

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What should I do if I need a bank account now?

Open a thinkmoney Current Account now and if we can verify your identity online it could be ready to use by the time you’ve made a cuppa.

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    Press ‘Open an account’ to start your application
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    If we need to see ID we’ll tell you at the end of the form
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    You’ll get your card in 3-5 days

Check what ID we accept before you start so you’re ready to submit it straight away.

£10 monthly fee

Why do I need a bank account?

Work and benefits

You need a UK bank account to receive certain benefits, and some employers will only pay wages directly into your account.

Paying bills

Use Direct Debits or standing orders to pay your bills, rent and mortgage straight from your current account.


Your money is protected, and if your card gets lost or stolen you can block it before anyone can use it.

Keep track of your money

Use the app and online banking to see exactly how much money you have and where your money is going.

What should I look for in a bank account?

Affordable fees

Some accounts charge fees if you miss Direct Debits or go overdrawn. We think it’s fairer to charge one monthly fee instead. And you can’t go overdrawn.

No credit checks

Having lots of credit checks on your credit report can make you look risky to lenders. We don’t run credit checks when you open an account with us.

Help managing money

Look for features which take the stress out of money. Bank with us and we’ll put aside the money you need for bills so you can’t accidentally spend it.

Convenient mobile banking

You’ve not got time to queue in a branch or wait to speak to someone. You need your account to keep up with you. Our app and online banking do just that.

Great service

You want to know that your account provider will be there for you when you need it. Our 4.5 star Trustpilot rating is proof that we’ll look after you and your money.

£10 monthly fee

Are extra features worth it?

Some providers offer cashback, others offer interest, and some add on insurance. So it’s no wonder comparing bank accounts gets confusing. Use these tips to decide what’s best for you.

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    Think about what you need

    If you’re tempted by accounts with mobile phone insurance, breakdown cover or travel insurance, you need to consider whether that cover is right for you.

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    Look at where your money goes

    If your utility bills are high, an account offering cashback on bills could save you money. But it might not be good value if you use your account mainly for card purchases.

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    Weigh up offers against fees

    Incentives like high interest rates or cash rewards might be tempting, but make sure to check what fees you’ll be paying too.

How do I get an account if I’ve just arrived in the UK?

Affordable fees

Getting a UK bank account opens up job opportunities, places to live and much more. But opening an account when you first arrive in the UK is rarely that simple.

Why have I been turned down for a UK bank account?

Most providers will look at a combination of these things to confirm your identity when you open an account:

  • Your credit history
  • The electoral register
  • Proof of your ID and address (e.g. your passport, driving licence or bills)

When you first move to the UK, there might not be enough information from these sources to prove who you are and where you live. If that’s the case, you could get turned down for a bank account.

Opening a thinkmoney account if you’re new to the UK

You can bank with us if you’ve recently arrived in the UK, as long as you’re over 18 and you’ll live here for at least 6 months a year. All you need to do is have your ID and proof of address ready.

£10 monthly fee

How can thinkmoney help if I need a bank account?

No credit checks

So you can open an account with a limited credit history.

Help budgeting for bills

Money for bills and spending money is held separately.

No surprise fees

If we are refusing a payment due to lack of funds.

And that’s on top of all the usual stuff you need from a current account: a contactless debit card, Direct Debits and standing orders, and a mobile app.

£10 monthly fee

Help if you need a bank account

Is my money protected?

We’re authorised and regulated by the Financial Conduct Authority as an e-money institution. This means if something happened to us you’d always get your money back.

Read more

What should I do if I don’t have any of the documents you need?

You can get copies of documents which prove your ID and address by contacting the relevant authorities (for example, HMRC or the Department of Work and Pensions).

Read more

How long will it take to approve my application?

If we can verify your identity online, your account will be ready to use in a matter of minutes. It could take a few days if we need you to send us original ID documents.

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More Information

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 the thinkmoney Current Account click here.

For information about the thinkmoney Current Account Plus 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, once you open your account you can add another person to it to make 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

Please read this leaflet for more information about your rights when making payments in Europe. Contact us if you need a large print or braille version.

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

Accounts opened after 1st February 2020

From the 1st April 2020 the below Terms and Conditions will come into effect for all customers:

Legal Information