Is my money protected?

Yes, your money is protected. We are an Authorised Electronic Money Institution, authorised and regulated by the FCA.

Your thinkmoney Current Account is not protected under the Financial Services Compensation Scheme (FSCS); however, as we're authorised and regulated by the FCA as an e-money institution, your money is protected. Furthermore, unlike the FSCS, this protection is not limited to a set amount.

This means that if something were to happen to thinkmoney, you would always receive your money back.

Is thinkmoney a bank?

We’re permitted to process payments and provide the account service to you. The main difference is that unlike banks, we are not allowed to use customers' money to invest in markets or in any other way.

Your money is held in a trust account dedicated to you, which is "ring fenced" and separate from any other money.

Other features

The thinkmoney card also uses the latest Chip and PIN and Contactless technology, giving you heightened protection when shopping and making payments.

We also employ the latest security measures for fraud detection – helping to ensure your money is safe.

It’s also protected by the Mastercard Identity Check programme and Mastercard® biometrics technology.

For information on how you can ensure your money stays safe, check out our 'Protecting your money' section, or you can view our terms and conditions here.