Thinkmoney

Thinkmoney

Thinkmoney is a banking services provider based in the UK. Part of the Thinkmoney Group, the company helps customers who are worried about money or have struggled in the past. The bank now has more than 100,000 current account customers.

Reviews Rating
28%
Review Score
This figure is an average of the reviews score, taken from customer reviews and the overall rating of the bank.
30%
BankRank® Score
This figure is the average of the bank’s total sentiment score and the review scores.
Matt Crabtree
Senior Editor
Matt Crabtree
Matt Crabtree is a senior editor at CompareBanks. He has over 10 years experience in writing about all aspects of finance and is passionate about helping consumers make informed decisions about their money.
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Overview

First Glance

Thinkmoney is a banking services provider based in the UK. Part of the Thinkmoney Group, the company helps customers who are worried about money or have struggled in the past. The bank now has more than 100,000 current account customers.

Features

Contact Info

Bank Website
Address
Think Park, Trafford Park, Mosley Rd, Stretford, Manchester M17 1FQ, UK

About Thinkmoney

Thinkmoney is a banking services provider based in the UK. Part of the Thinkmoney Group, the company helps customers who are worried about money or have struggled in the past. The bank now has more than 100,000 current account customers.

Thinkmoney Products and Services

Thinkmoney offers a current account service plus loans, insurance and credit cards. The current account is unusual in that customers can apply for credit after the first payment made into their account. This credit takes two forms; Flexi Loan and a credit facility.

The Flexi Loan account ranges from £500 to £1500 that can be repaid over 6-12 months. Thinkmoney then helps customers budget their monthly repayments and helps the initial application. Once an account is open, the customer can apply for credit just three months after starting to pay into their account.

After three months customers can upgrade to Current Account Plus, where they can borrow up to £400 for up to 30 days.

Current account customers are also assigned a Money Manager, who sets aside the money needed for their bills and adds the rest to a pre-paid debit card, helping customers who have financial worries to budget.

Thinkmoney also offers home and life insurance products. Life insurance covers customers until the age of 89 (84 if Critical Illness cover is added) and can be taken out as a single or a joint policy with two types of cover – level, which provides a fixed amount no matter when death occurs and decreasing cover, which reduces over the term of the policy. This type of cover is most popular with customers paying off a repayment mortgage.

Home insurance is offered in partnership with Be Wiser and includes gadget and bag cover, heating and boiler cover, identity theft cover and no-claims bonuses.

Thinkmoney offers credit cards to customers who may have a less than perfect credit history, including CCJs or IVAs. The company conducts pre-checks which do not appear on customers’ credit files and let them know if they’ll be approved even before they apply. These cards can help rebuild a credit score provided repayments are met.

Thinkmoney Security

Thinkmoney is not a bank and deposits are therefore not covered by the Financial Services Compensation Scheme (FSCS). The company is an authorised Electronic Money Institution and is authorised and regulated by the FCA. 

ThinkMoney Contact Details

Think Park
Trafford Park
Mosley Rd
Stretford
Manchester
M17 1FQ

Have a question about Thinkmoney?

Find answers in Q&As and ask your question

my wife has a think money account she was able to use the texting service but they have now discontinued it saying that she should use the app -- thats fine but she does not have a smart phone and is not willing to get or use a computor as she does not have an email address and does not want one -- so question is how does she use think money. — Brian Bentley

Thinkmoney Reviews

Rebecca Hanley
March 26, 2024

“New app is not fit for purpose. Budgeting is wrong”

New app is not fit for purpose. Budgeting is wrong. Account stating shortfalls when there is money in the spend account that would previously have automatically been moved to bills. New bills are not automatically set up as they said and have no option to add it as a bill so it is budgeted for unless I want to pay it by standing order! Absolutely shocking.
Can’t get through on the phone. Emailed and they responded 5 days later without resolving the issues at all!
I think I will be moving from Think Money after 12 years+ with them due to this! I have bank accounts with other providers and only stayed with Think due to the ease. However it is FAR from easy with them now and in fact is wholly stressful having to check my account daily to see if it has rectified.

Lee Broadbent
March 26, 2024

“Why you not sharing my reviews”

Why you not sharing my reviews

Bryony Morris
March 26, 2024

“Since the changes have been made, this has to be the most confusing and horrendous place to have your money”

Since the changes have been made, this has to be the most confusing and horrendous place to have your money. Pending transactions do not appear to be removed from your available funds so you have no idea anymore how much you actually have to spend. I am paying for the plus account at 17.50 a month to have the account “managed”, yet it is anything but managed. You cannot get through on the phone lines as they are too busy with over an hour wait time, but oddly they ring you if you leave a bad review to offer help. Unfortunately I missed the call but they left a voice message to ask me to call in using the same number that I struggle to hold of someone on. Needless to say I still haven't spoken to a human yet, and my account is in disarray leaving me short of funds for bills, and without any cleared money available. The figures keep changing as to what I have in and warnings of shortfalls a plenty. This was never the case using the old app. I was also told the person would try to call again by the following morning in the voice message, but that failed to happen. The app is so much worse than the old one that worked perfectly fine. I feel that let down I will be moving my to banking elsewhere. Would not recommend at all, stay well away.

Lee Broadbent
March 26, 2024

“Not had access to my account/ money for almost 3 weeks”

Not had access to my account/ money for almost 3 weeks have my in date card deactivate with warning no new card sent out after 6 days of trying to call bank none stop I eventually got through to be promised a new card would be sent as a emergency almost 2 weeks later still no card so no access to my money also new app does not recognise my details disgusting bank and service almost 10years of bad service!!!! New bank almost sorted then I am gone from TM for good stay well clear of TM

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Thinkmoney Accounts

Standard Current Account
Standard Current Account
Current
Monthly Fee
Interest Rate
Yes
Overdraft
Overdraft Rate
Packaged Account
Packaged Account
Current
Monthly Fee
Interest Rate
Yes
Overdraft
Overdraft Rate
Basic Account
Basic Account
Current
Monthly Fee
Interest Rate
No
Overdraft
Overdraft Rate
Regular Savings Account
Regular Savings Account
Savings
Monthly Fee
Interest Rate
Overdraft
Overdraft Rate
Easy access Savings
Easy access Savings
Savings
Monthly Fee
Interest Rate
Overdraft
Overdraft Rate
Notice Accounts
Notice Accounts
Savings
Monthly Fee
Interest Rate
Overdraft
Overdraft Rate
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