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Open a current account with a prepaid debit card

The thinkmoney Current Account comes with a prepaid debit Mastercard to help you manage your spending.

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£10 monthly fee

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What is a prepaid card?

Prepaid cards work a lot like pay-as-you-go mobile phones: you add money, use it, then once the money’s ran out, you add more.

They can help you keep to a budget because you can’t spend more money than you’ve loaded on to the card.

Though you don’t need to keep topping up your thinkmoney prepaid debit Mastercard – we’ll load it automatically with the money left after all your bills are budgeted for.

thinkmoney card

How a prepaid debit card helps you stay on top of your finances

The thinkmoney Current Account simplifies budgeting and helps you pay bills on time.


The thinkmoney Current Account automatically splits your money into what you need for bills and what you can afford to spend.


Money for your bills stays in your ‘Bills account’ and the rest is moved to your prepaid Debit Mastercard.


Use your card in shops, cash machines and online, just like any other debit card.

What’s the difference between a prepaid debit card and other cards?

You’re probably more used to seeing the Mastercard logo on the front of a credit card.

This table shows you the differences between credit cards, debit cards and the prepaid debit Mastercard which comes with your account.

Feature thinkmoney prepaid card Standard debit card Credit card
Accepted where you see the Mastercard acceptance mark Yes Yes Yes
Card payments in shops, online and over the phone Yes Yes Yes
Cash withdrawals in pounds in the UK Yes Yes Yes (credit card providers usually charge fees)
Spending limited to the card balance Yes No - you can spend the full account balance, and sometimes go overdrawn No - credit card spending is a type of borrowing
Purchases protected by the Chargeback scheme Yes Yes Yes
Use it abroad Yes (with a 2% transaction fee) Yes (fees vary between providers) Yes (fees vary between providers)
Borrow money with them No Yes (if you have an overdraft) Yes

Your thinkmoney prepaid debit Mastercard works just like any other debit card. The only difference is you can’t spend more than the balance on your card.

Benefits of the thinkmoney prepaid Debit Mastercard


Online fraud protection

Your thinkmoney prepaid Debit Mastercard is protected by Mastercard Identity Check. So when you shop online, we’ll take steps to make sure it’s really you.


Withdraw up to £450 a day

From cash machines showing the Mastercard Acceptance Mark. Pop into your local Post Office if you need to withdraw more.


Accepted around the world

Your prepaid card is a simple way to pay in shops and restaurants around the world. Just look for the Mastercard Acceptance Mark.

£10 monthly fee

What do I get with the thinkmoney Current Account?


No unexpected fees or charges

Pay a £10 monthly fee for us to run the account and help you budget. No fees to make a cash withdrawal in pounds in the UK, no fees for late payments, no surprises.


Help to boost your credit rating

73% of our customers improved their credit score by setting up Direct Debits to pay their bills and letting the account help them budget.


Convenient on-the-go banking

Check your balance, keep an eye on your spending and see when your bills are due for the next three months. All with a few taps on the thinkmoney app.

£10 monthly fee

Help with your thinkmoney card


Making contactless payments

Your thinkmoney card is contactless enabled to make paying for things quick and easy.

Read more >

How do I activate my card?

Log into the app to activate your card when it arrives. You need to activate it before you use it.

Read more >

Can I use my card abroad?

Tell us if you’re taking your card on holiday so that we know it’s you using your card.

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