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Open a current account with no credit check

No need to worry about your credit history when you apply for a thinkmoney Current Account.

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For £10 a month, you’ll get all the things you need from a bank account, plus help managing your money.

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*Based on a sample of customers who held an account for 12 months and previously had limited credit history or substantial credit use

Is the thinkmoney Current Account right for you?

You don’t have to pass a credit check to get an account with us.

So, we can help if:

  • You’ve had problems getting other accounts
  • You’re going through an IVA, debt management plan or bankruptcy
  • You’re looking to build your credit score

You need to live in the UK and be over 18 to apply, but that’s all. Whatever your circumstances, you’re welcome here.

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What is a no credit check bank account?

Bank accounts which you can get without a credit check are sometimes called basic bank accounts. Basic accounts let you pay in income, set up direct debits and withdraw cash, but they don’t usually come with overdrafts or other extra perks.

These accounts are ideal if you’ve got limited credit history, bad credit or you’ve just arrived in the UK. Though you can open a basic account if you’ve got good credit too.

How is the thinkmoney Current Account different to a basic bank account?

  • Money for bills is kept separate to help you pay them on time
  • You’ll know exactly how much you can afford to spend each month
  • No fees if we are refusing a payment due to lack of funds (such as if a Direct Debit bounces)
  • Get help to improve your credit score
  • Bank when it suits you with the thinkmoney app
  • Access to our loan marketplace in the app
  • £10 monthly fee

You need to live in the UK and be over 18 to apply, but that’s all. Whatever your circumstances, you’re welcome here.

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What do I get for the monthly account fee?

The thinkmoney Current Account costs £10 a month. But unlike some other account providers, we don’t charge anything extra for late payments and you can’t go overdrawn.

And while we’re budgeting for your bills, you shouldn’t get any late payment fees from your suppliers either.

How can the thinkmoney Current Account build my credit rating?

The thinkmoney Current Account budgets for your bills to help you pay them on time. Paying bills on time shows that you’re responsible with money, which could improve your credit score.

A good credit score helps you get better deals on all sorts of financial products: that’s everything from credit cards and mortgages to phone contracts and insurance.


No-stress budgeting: how it works

Your money is automatically split between your bills account and your card depending on what regular payments you’ve got coming up.

Here’s how it works:


Bills account

  • Pay in wages, benefits, pensions and any other incomes
  • Money for bills, loan repayments and mortgage payments is held

Debit card

  • Money which you don’t need for payments is moved to your card
  • Use it to withdraw cash and spend in shops or online

Your bills get paid out of the money kept aside in your bills account, and whatever’s left over is yours to spend how you want.

Banking that fits around you

Queuing in branches and inconvenient opening times aren’t our thing either. The thinkmoney app is here to help you manage money well, even when life gets in the way.

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    Check your balance and transactions from anywhere
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    See a forecast of how your account will look in 3 months’ time
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    Tell us about changes to your income and bills to keep your budgeting accurate
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    Check when all your payments are due
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    Send money to friends and family instantly

Help opening a thinkmoney Current Account

How long will it take to approve my application?

Most applications get approved within minutes (slightly longer if we need to check your ID).

Read more >

What ID do I need to open my account?

Have your passport or driving licence ready in case we ask to see it. We can also accept other types of ID.

Read more >

Can I open an account if I’ve just arrived in the UK?

If you’re able to provide proof of ID and address you can open an account with us, even if you’ve just arrived in the UK.

Read more >

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