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How does a joint bank account work if one of us has bad credit?

Getting a joint account with bad credit can be difficult. Even if only one of you has bad credit, some banks might turn you down. But don’t lose hope, you can open a thinkmoney Current Account without a credit check.

UK-based call centre

Speak to friendly, expert staff at our UK based call centre about your joint account for bad credit.

No unexpected charges

Our team of Money Managers will help you budget so you won’t miss bills and you won’t go overdrawn.

Easy online account management

Manage your account online, by phone or by text.

No credit check – just a quick application

If you’re struggling to get a joint bank account, bad credit could be the reason. Luckily, you don’t need good credit to open a joint thinkmoney Current Account. We won’t run a credit check, so you can open an account whatever your credit history.

You need to be:

  • 18 or over
  • A UK resident

Look forward to...

  • A safe place for your salary or benefits to be paid in to
  • Services you’d expect from a basic account – like Direct Debits and standing orders.
  • A thinkmoney Prepaid Debit Mastercard which you can use to make debit card payments in pounds, and make cash withdrawals in pounds in the UK. Check your balance, set up Direct Debits and send money within the UK online, by text or by phone.

PLUS expert money help

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If either of you has debt problems at the moment – or you’ve had money troubles in the past – you may struggle to get a joint bank account. Bad credit can mean you both get turned away even if only one of you has a poor credit score.

Bankruptcy has an especially negative effect on your credit rating. And if you’re still going through the bankruptcy process you could struggle to open a joint account.

The thinkmoney Current Account is a joint account bad credit scorers can open. We won’t run a credit check and we’ll help you pay your bills on time, which could improve your credit score.

Every month, we’ll take the stress out of budgeting. We’ll put money aside for all your bills and the other commitments you've told us about so you know the important stuff is always covered.

We’re ready at the end of the phone to sort out any problems with your joint bank account for bad credit and offer practical, day-to-day financial help too.

Our excellent customer service is just part of the whole thinkmoney experience – which costs £15 a month for a joint account.

All this and more, for one flat monthly fee.

  • UK based call centres
  • We won't charge you for making a cash withdrawal in pounds in the UK
  • No more unexpected bank charges
  • No more bounced Direct Debit or standing order fees
  • A thinkmoney Prepaid Debit Mastercard
  • Manage your account 24/7 by phone, text or online
  • Budgeting help every month
  • Speak to a real person who can help you with what you need
  • A simple monthly management fee of £15 for joint accounts

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