Our thinkmoney Current Account comes with our Smart budgeting tool. We help set aside enough money for your bills and pop the rest on your card for you to spend. The award-winning thinkmoney app lets you manage your money on the go and is packed full of easy-to-use features. And we’re super simple to understand.
What is a think money account?
thinkmoney is an E-Money Institution so your money is not protected by the Financial Services Compensation Scheme (FSCS). It is protected through safeguarding. Find out more. The thinkmoney Current Account comes with a prepaid debit card to help you manage your spending. Help budgeting for your bills.
What can you do with a think money card?
Where can I use my card? You can use your Prepaid Debit Mastercard® to make debit card payments in pounds (in shops or online) and to make cash withdrawals in pounds in the UK. Wherever you see the Mastercard Acceptance Mark, you can use your card. You can also pay in cash and cheques at any Post Office branch.
Is Think money real?
Yes Thinkmoney is an Electronic Money Institution (EMI) authorised to lend money by the Financial Conduct Authority (FCA). However, the money is not under the Financial Services Compensation Scheme (FSCS).
What do think money do? – Related Questions
What bank is think money with?
thinkmoney is an independent company and is not part of RBS, we are part of the Think Money Group. However, we continue to work with RBS and money held in thinkmoney accounts is held in trust in your name by RBS.
Is Think money a safe bank?
Yes, your money is protected. We are an Electronic Money Institution (EMI), authorised and regulated by the Financial Conduct Authority (FCA). The money you hold in your thinkmoney Current Account is not protected under the Financial Services Compensation Scheme (FSCS), like traditional high street banks.
How do I deposit money into thinkmoney?
How do I pay cash into my account? Go to the counter at the Post Office, put your card in the CHIP and PIN device, enter your PIN, hand your cash to the cashier and the money will go into your account instantly.
Who Is Behind think money?
Does think money charge?
No unexpected bank account fees
The thinkmoney Current Account offers you control of your money. The bank account monthly fee of £10 will cover the day-to-day running and management of your account. And we won’t charge you anything extra for us refusing a payment due to lack of funds.
Does think money improve credit score?
Having a thinkmoney account has helped thousands of people avoid late payments and improve their credit score. This is because while we’re taking care of your bills, you’re unlikely to miss a payment which shows lenders that you can repay on time and in full.
How many customers does think money have?
With over 100,000 customers throughout the UK, thinkmoney is helping people manage their finances, get back on their feet, and improve their credit rating.
Is Think money a challenger bank?
thinkmoney is a digital banking app that offers all the features of a current account. The company was founded in 2001, when today’s most popular challenger banks such as Monzo and Starling were still miles away from happening.
How long does a bank transfer take thinkmoney?
Faster Payments in and out of your account are normally completed within two hours (and in many cases, within minutes). In some circumstances, they can take up to the end of the next working day. Faster Payments will always reach your/the recipient’s account by the end of the following business day.
How much can you withdraw from Think money?
Go to the counter and tell the cashier how much you’d like to withdraw (you can withdraw any amount between £0.01 and £500). They’ll ask you to pop your card in the card reader and enter your PIN, then they’ll hand you the cash.
How much cash can I pay into think money account?
You can pay cash into your account at a branch of the Post Office using their over-the-counter service. You’ll need your thinkmoney card to do this and the maximum deposit amount is £20,000 per day. However, at some smaller branches the maximum deposit amount is £1,000.
What time does money go in with Think money?
They’re mainly used to pay benefits or wages into your account. We process BACS payments overnight so that the money is in your account first thing in the morning (usually by about 7am).
Can I withdraw money from thinkmoney credit card?
As a thinkmoney customer, you can use your card to withdraw cash from any ATM displaying the Mastercard® Acceptance Mark.
Can I set up Direct Debit on think money?
How do I set up Direct Debits and standing orders? You can set up, amend, and cancel Direct Debits and standing orders anytime, anywhere using the thinkmoney app.
Where can I top up my thinkmoney card?
Yes, you can – all you’ll need is your debit card, and you can pay cash into your thinkmoney account at any Post Office.
How do I pay my Think money Credit Card?
People can send Faster Payments through online, mobile, or telephone banking, and they can also be arranged in physical branches. Those with a thinkmoney Current Account can send and receive Faster Payments using the thinkmoney app.