Managed Current Account

Managed Current Account Plus - Credit Facility

We'll tell you what you need to know about the thinkmoney credit facility. We've covered everything from how to apply, the amount you can borrow and how you'll make repayments.  

What is the thinkmoney credit facility?

The thinkmoney credit facility offers you a way to borrow money when you need it and pay it back over a time that’s right for you. You can apply for a credit facility with a limit of up to £400 – depending on…

Am I eligible for the thinkmoney credit facility?

If you’ve had an active thinkmoney Managed Current Account for three months. You can give us a call on 0161 672 8977 to see if you're eligible. If you’ve already been accepted for the credit facility, you can apply…

How can I apply for the thinkmoney credit facility?

Give us a call on 0161 672 8977 and we’ll be able to take you through the application process and see if you’re eligible for the credit facility. And if you’re accepted, you can then apply to access it throug…

When can I get the thinkmoney credit facility?

You can apply for the credit facility if you've had an active thinkmoney Managed Current Account for three months. You can give us a call on 0161 672 8977 to go through an application to see if you're eligible. Whether or not …

Where can I access the thinkmoney credit facility?

You’ll need to apply for the thinkmoney credit facility with a limit of up to £400 initially. You can do this by giving us a call on 0161 672 8977. We’ll take you through the application process and see if yo…

Can I use the thinkmoney credit facility through my Online Account Management?

Yes, you can apply to access the credit facility through your Online Account Management. When you’re logged in on Online Account Management, just click the ‘Credit Facility’ button. You’ll only see th…

Can I use the thinkmoney credit facility through the App?

Yes, you can apply to access the credit facility through the App. Click ‘Apply for credit’ button on your app. You’ll only see this if you’ve already been approved for the credit facility. Let us kno…

Can I apply for the thinkmoney credit facility more than once?

Yes – if you’ve applied for the credit facility, you can apply for it again depending on your limit. You can borrow in amounts of £100 depending on your credit limit and you can make more than one application…

What happens if I don’t pay back my thinkmoney credit facility on time?

If you’re struggling with your thinkmoney credit facility repayments, we’re here to help. Just get in touch with us and let us know you’re having difficulties and we’ll do everything we can to help. If …

How do I pay back my thinkmoney credit facility?

You’ll repay your thinkmoney credit facility when you get paid, so it works just like any other bill – we’ll budget for it from the incomes that we can see on your account. If you want to pay back your credit…

Will you report to credit reference agencies about my thinkmoney credit facility?

Yes, we will report to the credit reference agencies if you have a credit facility on your account. We’ll also report how you manage your repayments – for example if you pay back on time or miss any payments. That…

Can I have the thinkmoney credit facility on a joint account?

Yes, you can apply to get access to the thinkmoney credit facility if you have a joint thinkmoney Managed Current Account. Both joint account holders will need to apply for the credit facility together. Once approved however, …

Is there a credit check for the thinkmoney credit facility?

We don’t currently do any credit checks when you apply to get the thinkmoney credit facility. So your credit history won’t affect the decision on whether you get accepted or declined. When you apply, we will do aff…

How much can I borrow on the thinkmoney credit facility?

You can borrow up to £400 with the thinkmoney credit facility. The credit limit you’ll get is subject to affordability so you might be accepted for a lower amount than you applied for. Just give us a call on 0161 …

Will you budget for my thinkmoney credit facility repayments?

Yes, your credit facility repayments will work just like any other bill. We’ll budget for it from the upcoming incomes we can see on your account. If you want to pay back your credit facility early, you can do this throu…

Do I have to pay to get the thinkmoney credit facility?

No – you don’t have to pay to get access to the thinkmoney credit facility. We’ll just need to take you through a few affordability checks to see if you’re eligible. Just give us a call on 0161 672 8977 …

How can the thinkmoney credit facility improve my credit rating?

We will report to the credit reference agencies if you have a credit facility on your account. We’ll also report how you manage your repayments on this – so if you pay back on time or miss any payments. If you’…

I have a credit facility, but it isn’t showing up on the App/Online, why is this?

There are a number of reasons why you might not be able to see your credit facility when you log into the App or go on your Online Account Management. Our eligibility criteria change every day, so it’s possible you might…

Why have you stopped me using my credit facility, I’ve always paid it back on time?

There are a few different reasons why you might not have access to the credit facility anymore. Our eligibility criteria change every day, so it’s possible you might not be eligible for the credit facility, even if you p…

I need to change the date of repayment, how can I do this?

If you want to set a different date of repayment for your credit facility than the one you agreed to when you borrowed the money, you’ll need to get in touch with us. Please give us a call to discuss this. You can only b…

Can I repay my credit facility early?

Yes, you can pay back your credit facility early from your Online Account Management or by calling us on 0161 779 5000. You can repay the entire amount you borrowed or just a portion of it. To do this, log into Online Accoun…

I can't repay my credit facility on the date set, what should I do?

If you can’t repay your credit facility on the date you originally agreed or you’re struggling with repayments in any other way we are here to help. Call us on 0161 779 5000 as soon as you’re having difficulti…

I am struggling to repay my credit facility, what should I do?

If you’re struggling to manage your thinkmoney credit facility repayments in any way, it’s important that you know we are here to help. Just give us a call on 0161 779 5000 and we’ll do everything we can to he…

What will I be charged for using the credit facility?

There is no charge for access to the thinkmoney credit facility. You only pay for the credit facility when you use it. The interest is set at 0.75% per day on the outstanding amount borrowed. This means that if you borrow £…

My application has been referred – what does this mean?

When you apply for the thinkmoney credit facility, we look at our eligibility criteria to see if you can borrow with us. We can either accept, decline or refer your application. If your application is referred, this means we r…

My application has been referred – how long will this take?

If your application for the credit facility has been referred and you applied during business hours, we’ll get back to you with a decision by close of business the same day. If you applied out of opening hours, we’…

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