News Article

We have changed to fixed fee dates

Published 29 November 2016 by

As a thinkmoney customer, you are probably well aware of the recent changes to your account. We have made a number of improvements to bring you a new, even better thinkmoney and, as part of this, we have changed the way we charge your thinkmoney account fee.

Until now, the thinkmoney account fee came out of the first income that moved to your card each month. This meant that the fee date could vary: for example, sometimes we took the fee from cash you had paid into your account for a specific reason.

You told us that this variable fee date wasn't working for you and we listened to what you had to say, and decided to make a change.

Fixed fee date

From now on, your thinkmoney fee date will be fixed, so we'll collect it on the same date each month. You won't be able to change your new fee date, but we'll budget for it based on the incomes you have coming in, as we do any other bill you set up.

If you have already paid your November fee, for example on the 2nd November, then this will be the date of your account fee in future. If you have not yet paid your fee this month then we have now budgeted for it and it will come out of the first available income we receive.

And if your first monthly income is already used for your budgeting, we will take the account fee out of the next available income. In short, whatever date your account is taken out of this month will be the same date it is taken out from this point onwards.

Do I need to do anything?

No, we'll take care of everything with your account and you'll be able to continue using it as normal. It is just the date of the fee that's changing – the amount stays the same.

You can find out more about the other improvements to your thinkmoney account here.

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