The thinkmoney Current Account comes with a prepaid debit card to help you manage your spending.
Help budgeting for your bills
Spend within your means
No charges for late payments
What is a prepaid card?
Prepaid cards work a lot like pay-as-you-go mobile phones. You add money, use it, and then once the money has run out, you add more.
They can help you keep to a budget because you can’t spend more money than you’ve loaded onto the card.
The difference with the thinkmoney prepaid debit card is that you don’t need to keep topping it up. We’ll load it automatically with the money left after all your bills are budgeted for.
How a prepaid debit card helps you stay on top of your finances
The thinkmoney Current Account simplifies budgeting and helps you pay your bills on time.
Your money is automatically split 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 card.
You can then use your card in shops, cash machines and online, just like any other debit card.
Download our app to start. £10 monthly fee
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 it | No | Yes (if you have an overdraft) | Yes |
Your thinkmoney prepaid debit card 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.
Download our app to start. £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
Three out of four 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.
Download our app to start. £10 monthly fee
Help with your thinkmoney card
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.
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.
Can I make contactless payments?
Your thinkmoney card is contactless enabled to make paying for things quick and easy.