Changes to the way we protect your money
Published 21 October 2016 by Hayley Cox
Soon, we will be improving how your money is protected.
As a result of the improvements we are making to your thinkmoney Current Account this year there will be a change to how the money in your account is protected.
When we complete our upgrade, money you hold in your thinkmoney Current Account will no longer be protected under the Financial Services Compensation Scheme (FSCS).
However, as thinkmoney is authorised and regulated by the FCA as an e-money institution, your money will continue to be protected and, unlike the FSCS, this protection is not limited to a certain amount.
This means that if something were to happen to thinkmoney, your money is held separately and securely meaning you would always receive it back.