Looking for an IVA bank account?

Being on an IVA doesn’t mean you’re out of options. You might think you'd need an IVA bank account, but there are alternatives - such as the thinkmoney Current Account.

  • Practical help with budgeting
  • Manage your money online, by text or by phone
  • No surprise fees - just one monthly management fee

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Bank accounts for IVAs

If you're looking for an IVA bank account, you'll need an account that's open to just about everyone, regardless of their credit history.

If you're in an IVA - or about to enter one - and you're looking for a bank account, you might find that a 'bad credit bank account' is what you're looking for. Just remember that it's not your only option - the thinkmoney Current Account is a practical alternative to a bad credit bank account - and it could do a lot more to help you make all your payments and make sure your IVA succeeds.

An account for people in an IVA

Most people with a bad credit history will know how much it can stop them enjoying the best financial services.

Here at thinkmoney, we think that's wrong. In many cases, the people who've run into financial problems in the past are the ones who really want help with their finances today.

That's why basic bank accounts exist, but they're not always the answer. Basic bank accounts might be open to someone in an IVA, but can they actually help them to bring their IVA to a successful conclusion?

Our account is open to people with a bad credit history - you just need to be a UK resident and aged 18+. What's more, it could be an excellent partner to your IVA, helping you budget and make sure your IVA payments are made on time, every month.

And since there's no credit check, we can usually open your account as soon as we've verified your identity and address.

Get the right account for your IVA

Our account offers something you won't find on any basic bank account. We provide a budgeting service that's personally handled by our Money Managers, there to help you make sure your bills are paid on time, every time.

By managing your mortgage/rent, utility bills and other essentials every month, we can make it so much easier to ensure you stick to a budget and keep to the terms of your IVA all the way through, making every single payment exactly as you agreed to.

That means you're free to spend your remaining money without worrying about missing your IVA payments or your other essential bills.

Our advisers have plenty of experience working with people in financial difficulties up to and including bankruptcy. If you're in an IVA, we could provide exactly what you're looking for - a budgeting service that holds back money for you to pay your bills, as well as access to money-saving advice when you need it.

We think that makes the thinkmoney Current Account a practical alternative to a bank account - and the right choice for someone who's in an IVA.

Not just an IVA account

Having said that, our account appeals to people in all kinds of financial situations, not just people who are in an IVA, or struggling with financial problems or bad credit. A budgeting service; a guarantee of no unexpected fees; telephone, SMS & online account management - it's easy to see why so many people are turning to the thinkmoney Current Account.

We provide:

  • Transparency. No unexpected fees or sudden surprises. Always know exactly what you're paying per month - a straightforward management fee of £10 or £15 for a joint account.
  • Personal service. We're committed to delivering a personal, and personalised, service. Manage your account the way you want to, by phone, internet or SMS - and if you ever have questions that need answering, our Money Managers are there for you.
  • Peace of mind. You'll know the bills you've told us about are getting paid on time, so you'll know your 'spending money' really is just that. You won't even have to load it onto your thinkmoney card - you can leave it to us.

Based on reviews - 92% of customers who left a thinkmoney review recommend us with an average rating of 4.7 out of 5 from 11958 reviews left by thinkmoney customers (as of Feb, 2017)

Working out our score

Our score is based on reviews collected via Feefo, the independent customer research specialist.

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