thinkmoney Personal Account Reviews - www.thinkmoney.co.uk

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★★★☆☆
3.3 / 5
62% of users recommend this
  • Ease of use

  • Customer Service

Summary

"thinkmoney Personal Account 

If you thought all accounts were the same, think again. Anyone can apply - no credit check required. A thinkmoney Personal Account delivers three things: transparency, personal service and peace of mind.

  • Transparency. With no hidden fees, you'll always know exactly what you're paying per month. No nasty surprises, no sudden charges.
  • Personal service. We're committed to delivering a personal service. It's why we make sure your essential costs are covered first. It's why we provide so many different ways to manage your account, so you can use it the way you want to.
  • Peace of mind. With a new account from thinkmoney, you'll know you're taking care of your regular financial commitments. You'll know our experts are looking out for you, ready to warn you if they see any potential problems ahead. It's a very different kind of account. We’re a very different kind of company."
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Latest Reviews

★☆☆☆☆

“Blocked my card”

Written on: 16/12/2014 by Babydstubbs (1 review written)

Thinkmoney blocked my card for over spending all tho it's near Christmas and Iv been buying presents online Iv 3 young children 3 5 an 7 I done shopping online now Iv no food cos thinkmoney stopped my card now my shopping can't take there money and I can't go out as my youngest child is really ill I called thinkmoney and they wasn't any help at all they are happy to leave 3 kids with no food and no medicine for my child who is ill. I will be changeing banks first thing tomorrow and Iv also… Read Full Review

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★☆☆☆☆

“only fools and horses”

Written on: 07/12/2014 by Braelynr1980 (1 review written)

We find the think money account very stressfull trying to get through on the phone waiting for 20mins plus and as for their tex message service only thing its good for is knowing your balance plus being told by different members of staff we find the service very stressfull and will be seeking another form of banking… Read Full Review

By Thinkmoney

Written on: 09/12/2014

Hi,

Thank you for your feedback. We agree that call wait times have been too long recently. We been investing heavily in new staff and we are already seeing an improvement – we expect to restore the service to a level that you (and we) are happy with shortly.

I’m concerned by your comments surrounding the text service we provide. The text service is designed to allow you to manage your money whilst on the move. As well as retrieving Balances you can make amendments to your account, or request a call by texting us with CHANGE followed by any changes you need to make to your account (or to request a call). You can also request the last five transactions on either account, using TRANS or TRANC (up to 10 times a month).

To help you avoid the need to call in we offer a number of ways other than the phone that you can get in touch with us – even if it is just to request a call back. This includes Twitter and Facebook communication. You can also manage your account round the clock via Online Account Management. This service enables you to do almost everything that you can do on the phone. We now also offer an alternative phone number which may be cheaper to call from a mobile or land line (details can be found in the ‘Contact Us’ section of our web site).

I’m sorry to hear that you’re considering leaving us and would like to discuss the set up of your account to see how we can improve your experience. Please email us via the contact section on Review Centre and we can arrange this for you. Regards Steven Hewitt

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★★☆☆☆

“declined for credit facility”

Written on: 20/11/2014 by senator6973 (1 review written)

i am shocked by what think money have done to me a loyal customer for over 6 years, i usually borrow 100-200 a month because i have to find rent top up when it is due,they always get their money back when i say they will, they have left me distraught as my rent will now be late and my floorless payments will be scared, well all i can say is THANKS A LOT THINKMONEY!!!,I will be looking for another bank account… Read Full Review

By Thinkmoney

Written on: 21/11/2014

Dear senator6973,

As you would expect, we're committed to responsible lending so we assess each application for credit on an individual basis, at the point of application, using the most up to date information about you and your account. Our key concern is that any lending should be affordable. The credit facility we offer is designed for unexpected expenses, such as car repairs, and should not be used for regular bills or living expenses. We do appreciate that circumstances do change, but without knowing your full details I am unable to comment as to why your application was unsuccessful on this occasion, however regular use for everyday expenses may be the reason. If you would like to see our full Code of Practice on lending then please send an email to us via the contact section here on Review Centre.
Regards

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Gregor123's reply to Thinkmoney's Comment

Written on: 24/11/2014

do you have a number to complain to so that the poster can find out the reason?

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By Thinkmoney

Written on: 08/12/2014

Full details of our complaints procedure can be found on our website.
Thank you

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★☆☆☆☆

“The no choice bank account9”

Written on: 03/11/2014 by Leach283 (1 review written)

Telephone banking-up to 30 minutes waiting time. High interest on their payday loan system. Transactions declined for no good reason. Charge of14.50 per month. Why no free banking? Clearly this account takes advantage of customers who for some reason, can,t get a normal account. There's not much to like… Read Full Review

By Thinkmoney

Written on: 03/11/2014

Hi,

Thank you for your feedback.

The problem with “free banking” is that for millions of people it isn’t free. If you have a high street current account or a basic bank account and slip into unauthorised overdraft then you can quickly incur quite high fees with many providers. The thinkmoney Personal Account is designed to offer an alternative. Rather than unpredictable and often high overdraft charges there is a single clear monthly fee. And our budgeting system helps ensure that your bills are paid and that you never go overdrawn.

We do appreciate that of late call wait times have been longer than you, and we, would like. We offer a number of ways other than the phone that you can get in touch with us – even if it is just to request a call back. This includes Twitter and Facebook communication. You can also text us with CHANGE followed by any changes you need to make to your account (or to request a call). Of course, you can also manage your account round the clock via Online Account Management. This service enables you to do almost everything that you can do on the phone. We now also offer an alternative phone number which may be cheaper to call from a mobile or land line.

Should you wish to discuss the set up of your account or any other points raised then please email us via the contact section on Review Centre and we can arrange this for you.

Regards
Steven Hewitt

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★☆☆☆☆

“They offered me Credit facility just to decline”

Written on: 30/09/2014

I get a call one Saturday saying i have been chosen and I am eligible for credit facility. I have told them that i do get 417 pounds a week additionally from my employer (compensation for SSP). Anyway I have told them that and I did get respond that because my details have been changed they need approval from their Credit facility department. Cool. I was waiting till Monday and I got msg saying I was declined !!!!!!! Why I need a product which supposed to be for me and than be declined???? They… Read Full Review

Stevenhewitt's Comment

Written on: 03/10/2014

Hi, my name is Steven and I work for thinkmoney.

I am sorry that you’re unhappy about how we have approached you regarding credit. Credit acceptance is subject to a full assessment of affordability based on the most recent information we have on your account. We are committed to responsible lending and therefore credit may not always be available although previously offered. You can find details of our approach to responsible lending on our website.

If you would like to discuss this further then please email thinkmoney via the contact us details on Review Centre.

Thank you

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★☆☆☆☆

“The thinkmoney phone number is down ”

Written on: 23/09/2014 by Ezekiel45 (1 review written)

I can't access my account nor even send and view a txt balance why the phone number stated on thinkmoney website is not recognised… Read Full Review

Stevenhewitt's Comment

Written on: 24/09/2014

Hi,

My name is Steve and I work for thinkmoney.

I'm sorry to hear that you're having a problem accessing your account. We did experience a short outage, yesterday 23/9/14, with incoming calls but this was quickly fixed.

If you are still experiencing difficulties in contacting us then please pop me an email, via the contact details on review Centre, so I can look into this for you.

Regards

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★☆☆☆☆

“Bad custumer service”

Written on: 23/09/2014 by benstilla8852 (1 review written)

You can call the customer telephone number and remain on the phone for 30minutes or over before getting through to a so call money manager. Transfers(Faster payment)is awful, i mean seriously shocking. A friend recommended it but i will never recommend it to nobody… Read Full Review

Stevenhewitt's Response to benstilla8852's Review

Written on: 30/09/2014

Hi,

My name is Steven and I work for thinkmoney.

I’m sorry to hear that your recent experience with thinkmoney has left you looking to change account provider.

I’m sorry to hear you’ve struggled contacting us on the phone. In recent weeks we have been dealing with unexpectedly high numbers of calls – we are busy adding new staff members to our team to restore our service to a level that you (and we) are happy with.
To make life easier in the meantime here are some other suggestions for getting in touch. If you call outside peaks hours you should find that your call is answered very quickly. Our quieter periods are weekdays after 10am and before 5pm and on Saturday afternoons.

There are also alternatives to calling that you may find helpful. These include texting us with any changes you need to make to your account. We also offer email, Twitter and Facebook communication (during the working day). You can also manage your account round the clock via Online Account Management. This service enables you to do almost everything that you can do on the phone.

We also offer a range of text services including balances, mini statements and TEXT CHANGE (which allows you to tell us about changes on your account and request call backs). Finally we offer balances and some other services via our automated phone system.

Please contact me, via the contact details on the Review Centre page, if you wish to discuss your concerns further.

I look forward to hearing from you soon.

Regards

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★☆☆☆☆

“Dreadful customer service - avoid like the plague.”

Written on: 21/09/2014 by LCWales (2 reviews written)

Despite Think Money letting me down on more than one occasion over the five years that I have been with them, I have remained loyal. I am now massively regretting this. I submitted a complaint (regarding incorrect advice given by a member of their staff and an online banking error that caused a huge amount of upset and inconvenience) on 1st July 2014 and I have still not received a final response. Think Money have sent me three letters - all from different people, all saying my very… Read Full Review

Stevenhewitt's Response to LCWales's Review

Written on: 23/09/2014

Hi,

My name is Steve and I work for thinkmoney.

I’m sorry to hear that recent events have tarnished your opinion of thinkmoney.
We do appreciate your loyalty as a customer and apologise that the timeframe surrounding your complaint has not been one that you, and we, would expect.

Please can you make contact, providing your reference, via the contact details on review Centre, and I will pick this up for you.

I look forward to hearing from you soon.

Regards

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Lcwales's reply to Stevenhewitt's Comment

Written on: 24/09/2014

Hi,

Thanks for your comment. I had a telephone call from Thinkmoney yesterday to tell me that there is a huge backlog of complaints, and that my particular complaint is yet to be investigated. I was also informed that the three letters that I have received from Thinkmoney - telling me that my complaint was still being "investigated" and that Thinkmoney were not yet in a position to provide a response - were automatically generated and PP'd by people who were not named on the letters. In fact, the people named on the letters have never even looked at my complaint!

I still have no idea who is in charge of my complaint. Your advisor could not give me any timeframe for a resolution yesterday.

As I have said before, the Ombudsman are now dealing with Thinkmoney on my behalf. I am not prepared to put up with any more excuses or misleading information from Thinkmoney.

Also, as previously mentioned, I have emailed via the address on here a number of times over the last three months to no avail.

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Stevenhewitt's reply to Lcwales's Comment

Written on: 24/09/2014

Hi,

Please can you email again and make yourself known as I will personally pick this up for you.

Thank you

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Lcwales's reply to Stevenhewitt's Comment

Written on: 26/09/2014

I sent an email on 24th September, marked for your attention as requested. The Think Money response: "I will pass all the information onto the team at thinkmoney and ask them to provide an update. Again please accept our apologies for any inconvenience caused." Was this email from you (there was no name at the foot of the email, oddly)? I thought you were going to deal with this personally, not pass it on to the team of people who have done absolutely nothing as regards my complaint thus far? Where is my update?
Why is Think Money making this so very difficult? When will my complaint be investigated and resolved??

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Lcwales's reply to Lcwales's Comment

Written on: 17/10/2014

Still no resolution, despite being told on Weds this week that one might be forthcoming today. Had to call to chase them again today and I'm now being told that a resolution will be provided "soon" but that Think Money can't give me a timeframe (quelle surprise). I lodged the complaint almost 17 weeks ago. Trying to talk to their customer relations team is akin to banging your head against a brick wall - lots of apologies and conflicting information being given to me, but no facts. I'm so stressed by this issue that my hair has started falling out and I feel sick constantly. Literally can't take much more.

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★☆☆☆☆

“Bad Experience with a complaint”

Written on: 19/09/2014 by Hughesln467 (1 review written)

Well it has come to the point where I got so disgusted with this bank, I closed it. I submitted a complaint in May and all the complaints department could tell me is that they are still investigating my complaint. Yeah right! They passed the eight week time frame to resolve my complaint and yet to receive an outcome. This bank is quick to take the management fee, but they forget that the management fee pays their wages. They do not know what they are doing. I got a Barclays current account, and… Read Full Review

Lcwales's Comment

Written on: 21/09/2014

I am having the exact same problem with Think Money. It's almost three months since I originally submitted my complaint, and I still haven't received a final response. The Ombudsman are now dealing with it for me. Appalling conduct.

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Stevenhewitt's Comment

Written on: 24/09/2014

Hi,

My name's Steven and I work for thinkmoney.

I’m sorry to hear that this has been you experience with thinkmoney.

We do endeavour to resolve complaints immediately; however, sometimes this may not be possible. If this is the case our Customer Relations team will acknowledge receipt of your complaint in writing within five working days and provide details of the individual handling the complaint.

If your complaint is particularly complicated, we will keep you informed of the progress of our investigations. In the event that we are unable to send you a final response to your complaint within four weeks, we will write to you or telephone you explaining why we have not yet resolved the complaint and indicating when we will make further contact.

I’m concerned that the overall complaint has taken an extended period of time. Please email us directly, via the contact details on Review Centre, and I will be happy to chase this up for you.

I look forward to hearing from you.

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★☆☆☆☆

“Can't access my own money!”

Written on: 09/09/2014 by Tezza1976 (1 review written)

I sold my car and deposited £5000 into my Think money bank account with cash. It sat in the salary account so I then telephoned them and asked them to transfer it into my card account, I was told this would clear next day by close of business. The next day arrives and I receive a call from Think money asking me where the funds came from and what I'm going to spend them on and could I prove where the money came from. I wrecked my house and found the receipt for the car I sold from the guy… Read Full Review

By Thinkmoney

Written on: 10/09/2014

Dear Tezza1976,

Thank you for your post. We have also received your emails and are doing what we can to resolve this matter as swiftly as possible for you.

Regards

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Tezza1976's reply to Thinkmoney's Comment

Written on: 10/09/2014

I'd appreciate it if it was a little more swift. I've deposited money via a cash deposit a week gone Monday and I can't access it...........additionally looking at the numerous reviews on here I'm not the only one inclusive of you actually blocking my access to my account.
I've been stuck at home as I can't commute to work (no money) for over 4 days now and my wife and family are also affected.
It is more than a simple issue and clearly the bank aren't playing by the rules, I've spoken with a lady at the FSA and as the bank you are obliged to tell me what's going on with my account and my money.
I'd appreciate a little communication here given that I've got funds sitting in an account I have no access to.
Will Think money reply to this publicly?............

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Mjclabby's reply to Thinkmoney's Comment

Written on: 18/09/2014

Exactly how many customers money arr you illegally witholding from them ??

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Mjclabby's Response to Tezza1976's Review

Written on: 18/09/2014

I feel your anger and grief as I have had five and a half thousand pound loan paid into my account last Friday morning and all they can say is we have no information at this point andwe cn not transact the funds.
I am allmost sure that think money are actually breaking the law in so many ways and lying through their teeth to the very people who pay their wages through account fees and premium rate phone calls etc.
I have toldthem I will involve the police and take legal action but again they respond with we hve no information at this point and will be in contact as soon as we have. This bank or so called bank is a complete and utter disgrace to its customers.
the amount of pressure stress hassle and amount of money this has cost me through having to use overdraft and borrowing is ridiculous and feel suicidal at times as theres no way out of this nightmare !!!!

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Tezza1976's reply to Mjclabby's Comment

Written on: 18/09/2014

I'm exactly the same as yourself, really struggling for money right now as the I've got no bank account and they have over £5000 of my money.
I'm no further forward with them and get the same dim response as you get, seemingly that nobody can tell me anything.
For sure if they haven't filed a SAR report which is a "suspicious activity report" then they are breaking the law including banking codes and FCA rules. If a SAR is filed usually after 7 days you get your funds but I'm now into 18 days!
If it progresses after 7 days then no one should be holding your money anything over 31 days as authorities have then had enough time to investigate to see if these funds were gained through criminal activity or money laundering. Seemingly banks do this when £5k and above are deposited and they then fob you off with " we have nothing to tell you yet" as if they told you then that through the eyes of the law is classed as tipping off. They can investigate me all they want as I've no issue with this but let's be realistic here......I put £5k in cash into my bank account as I sold my car.......£5k hardly the great rain robbery amount!!!
I am looking at reporting to watch dog and everywhere else I can so that people are aware of this dismal so called bank.
I'll keep you posted how far I get on.
Can only think what your going through as it's the same crisp as me and no one deserves this.
Good luck.

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Tezza1976's reply to Mjclabby's Comment

Written on: 24/09/2014

Quick update....... It's been 24 days but I got all of my money from my account and Think money have closed my account, something I was going to do anyway after this episode.
Certainly won't look to be any part of them again and pleased it's all over and I have my money back.
Still no answer as to why when I put in a cash deposit in that it takes 24 days for me to touch it, but hey I'm pleased the whole thing is done.
Good luck with getting your funds as I know exactly how frustrating it is and can only say the one thing I done was stay in constant contact with them, daily!!
Get your money and close the account, good luck.

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★☆☆☆☆

“I have recently received my think money card as i...”

Written on: 07/09/2014 by Bain480 (1 review written)

I have recently received my think money card as i thought they would be a good option and I'm about to get a payout from my insurance company and dont have a bank account i was told it would go in and would be available 1 day later at most as im payin £25 to insurance to speed up transfer and wasn't told that once u start paying u have to pay premium rates but as i have put a deposit down on my car i would not be happy if they block my card and hold my money as this will mean i will loose at… Read Full Review

By Thinkmoney

Written on: 10/09/2014

Dear Bain480,

Thank you for the post. We’d be happy to put your mind at rest on this – if you drop us an email with your thinkmoney reference number via the contact details page on Review Centre we will be able to address your concerns.

I look forward to hearing from you soon.

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★☆☆☆☆

“Banking for vulnerable people - with premium cost...”

Written on: 04/09/2014 by loO'Donnell1991 (1 review written)

I have had so many problems with Think and their tough it's now yours attitude. It all starts out well with local and free phone numbers - but once you're paying them their monthly high fee - you cannot get through - it's all premium rate. The number I was given for the free text balance service turned out to be chargeable on Vodafone - causing my bills to rocket up. When I finally got through to Think I was told the usual - tough. On the rare occasions I have endured the horrendous wait… Read Full Review

By Thinkmoney

Written on: 05/09/2014

Hi,

I’m sorry to hear you’ve struggled contacting us on the phone. Of late we have experienced a high number of calls and this has reflected in the wait times of our customers. We are actively recruiting staff to help improve the speed at which we answers calls as we know this is very important to customers. In the meantime there are some suggestions that may help you going forward. If you call outside peaks hours you should find that your call is answered very quickly. Our quieter periods are weekdays after 10am and before 5pm and on Saturday afternoons. There are also alternatives to calling that you may find helpful. These include texting us with any changes you need to make to your account. We do not charge for the texts but offer both a short code and a long code number as some mobile providers may charge for using the short code number when texting. We also offer email, Twitter and Facebook (during the working day and at the weekend). You can also manage your account round the clock via Online Account Management. This service enables you to do almost everything that you can do on the phone. We also offer a range of text services including balances, mini statements and TEXT CHANGE (which allows you to tell us about changes on your account and request call backs). Finally we offer balances and some other services via our automated phone system.

If you’re not registered for Online Account Management then our YouTube channel and website have helpful ‘How To’ videos that show you how to register.

With regards to cheque clearance times: we do appreciate that eight working days is a long time to wait, however the reason for this is that your thinkmoney Personal Account protects you from your account going overdrawn. Other account providers may allow you to withdraw funds from cheques earlier (before they are fully cleared) as they know that if the cheque is not honoured they can reclaim the money from the customer, even if it takes them overdrawn. The standard cheque clearance cycle can take up to six days with some releasing on day seven. Our processing systems allow extra time on the cycle and minimises the risk of an overdrawn balance for our account holders.

I’m also concerned that you feel the Money Managers are insincere. Our intention is to make you feel welcome when speaking on the phone and I’m sorry if this has come across in any other way.

Clearly there are a number of issues raised surrounding your thinkmoney account. If you’d like to discuss any in more detail then please email us or via the contact details on Review Centre, and we can arrange a convenient time to call you.

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★☆☆☆☆

“i lost 100 pound on tuesday went cashpoint tryed take...”

Written on: 31/08/2014 by Jeremyh422 (1 review written)

i lost 100 pound on tuesday went cashpoint tryed take out 100 money did not come out yet it was taking from my card i have tryed evry day contact thinkinmoney money manager just toping my phone up evry time all i get aprox waiting time 15 to 20 mins i am changing my bank for sure thinkmoney… Read Full Review

By Thinkmoney

Written on: 01/09/2014

Dear Jeremyh422,

I’m sorry to hear that you’ve had difficulty in contacting us to discuss your account. Please send a private message to us via our Facebook or Twitter page, details of which can be found on our website, so we can look into this for you.

If there have been any inconsistencies with your account then we will do all we can to rectify these for you.

We look forward to hearing from you soon.

Regards

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★☆☆☆☆

“Worse Bank Ever”

Written on: 29/08/2014 by McBride210 (1 review written)

Absolutely useless as a so called Bank (which they are not) as they state when you question their practices. They charge you a monthly Fee for having the joy of your Money and do absolutely nothing for that Fee. Phonecalls to them are always at a cost to your pocket and is always a 15 minute wait or more before actually speaking to someone, then get put on hold for a further 20 mins until they finally ask you "Would you like me to call you Back" problems can be and usually are resolved with… Read Full Review

By Thinkmoney

Written on: 29/08/2014

Hi,

I’m sorry to hear you’ve struggled contacting us on the phone. Recently we have been dealing with unexpectedly high numbers of calls – we are busy adding new staff members to our team to restore our service to a level that you (and we) are happy with.

To make life easier in the meantime here are some other suggestions for getting in touch. If you call outside peaks hours you should find that your call is answered very quickly. Our quieter periods are weekdays after 10am and before 5pm and on Saturday afternoons.

There are also alternatives to calling that you may find helpful. These include texting us with any changes you need to make to your account. We also offer email, Twitter and Facebook communication (during the working day). You can also manage your account round the clock via Online Account Management. This service enables you to do almost everything that you can do on the phone. If you’re not registered for Online Account Management then our website has helpful videos showing you how to register.

We also offer a range of text services including balances, mini statements and TEXT CHANGE (which allows you to tell us about changes on your account and request call backs). Finally we offer balances and some other services via our automated phone system.

I am sorry that you were unhappy about how we have approached you regarding credit. Credit acceptance is subject to a full assessment of affordability based on the most recent information we have on your account. We are committed to responsible lending and therefore credit may not always be available although previously offered. You can find details of our approach to responsible lending on our website.

Regarding complaints – We do take every complaint seriously and aim to resolve them within a realistic time frame. I’m sorry if our communication has not been up to scratch in this instance and would urge you to get in contact with us so we can look into this further for you. You can send us a private message via our Facebook page or our twitter feed with your reference and we'll pick this up for you.

Thank you

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★★★☆☆

“Think Banking with a sting in its tail ”

Written on: 28/08/2014 by Willbabe21 (2 reviews written)

We'll Iv been a customer of think banking for 5years now and Iv not had many problems until now and this is where it went wrong I had a personal loan of them 12 months ago for £1200 to which they contacted me and offered to which I used to buy a new car with. So since then Iv kept up with the payments and never not paid I actually made my last payment this month (August) so I though mmm now Iv paid all there money back I'll ask if I allowed to reapply again to which I did I went through the… Read Full Review

By Thinkmoney

Written on: 29/08/2014

Dear Willbabe21

I’m sorry that your recent experience with thinkmoney has tarnished your view and made you feel that you need to leave thinkmoney.
As we are committed to responsible lending, we complete a new assessment upon each application for credit. This is completed at the point of application, using the most up to date information about you and your account. We obviously want to ensure that any lending is affordable for you to repay and because the usage of your account can change over time this may mean that although you are accepted for a credit facility at one time you may be rejected on a future occasion. Please accept our apologies as it’s clear we didn’t communicate this clearly to you. You can find details of our approach to responsible lending on our website.

I’m sorry that the manner in which you we’re informed of the decision seemed impersonal and this is something we’ll be looking into going forward.

Regards

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Tracey0245's reply to Thinkmoney's Comment

Written on: 24/11/2014

I have had the same experience I have a credit facility of 300 which I always paid on time went to renew and got told no even though my income haa increased since my last one!

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★☆☆☆☆

“CANT ACCESS MONEY IN MY ACCOUNT??????”

Written on: 21/08/2014 by 260Peacock (1 review written)

When I first joined Think money I thought they were really good - since day 1 I explained that I get a weekly amount paid into my account and once a month I got a bonus amount paid in which varied in its amount - NO PROBLEM initially - HOWEVER recently they have started to do something really frustrating and Im pretty sure must be breaking some sort of banking conduct? When my monthly bonus goes in I get a text saying they have received it but then they hold on to it and won't let me access… Read Full Review

By Thinkmoney

Written on: 22/08/2014

Dear 260Peacock,

I am sorry that you’ve had this problem. It is certainly true that on some large deposits into thinkmoney Personal Accounts we have to do additional security checks which can delay the releasing of funds. However, I wouldn’t usually expect this to be an issue on regular bonus deposits if they are from your main employer. I would like to investigate this for you further and try and resolve it – please email me your thinkmoney reference via our Facebook page – you can find our Facebook address on the ‘Contact Us’ section of our website,

You can close you thinkmoney Personal Account at any time without penalty. I think the confusion here may be that if there are payments waiting to clear in (or out) of your account they will need to do so before we can shut it.

I look forward to hearing from you.

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Logbo1's Comment

Written on: 22/08/2014

I just do not understand why such company is allowed to run with so many complains. It's time to contact BBC or financial ombudsman.

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Tezza1976's Comment

Written on: 09/09/2014

Hi, I am going through the exact same thing. I sold my car and deposited £5000 into my account with cash. It sat in the salary account so I then telephoned them and asked them to transfer it into my card account, I was told this would clear next day by close of business. The next day arrives and I receive a call from Think money asking me where the funds came from and what I'm going to spend them on and could I prove where the money came from.
I wrecked my house and found the receipt for the car I sold from the guy that bought it and hand wrote what he paid me. I scanned this across to Think money as requested and heard nothing more., next issue was I then couldn't access my account online. I've spoken with them every single day for the last 8 days and nobody I've spoken to can tell me what's going on. The only response I get is that they don't know what's going and they'll let me know when I can have my money.
I'm stuck at home with no fuel in my car and very little money for groceries but Think money aren't concerned.
Surely by doing this they must be breaking rules, I've spoken with the FSA and have been told that they are supposed to make you aware, therefore I'll continue to peruse this and report Think money to all of the financial institutions including the financial ombudsman.
These people are appalling and clearly are breaking rules / laws.
Advice to anyone, stay well away and avoid Think money.
Once I've got my money which hopefully will be this year then I will be closing this shambles of a bank account.

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Logbo1's Comment

Written on: 22/08/2014

Same thing happened to me today! poor ethic and very poor customer service. I would not recommend this service at all.

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★★★☆☆

“Opening Times”

Written on: 15/08/2014 by dee2308 (1 review written)

Iv been with think money for a few years now and still feel the closing times need to be extended not necessarily 24hr but as most people work later now that closing time should be around 10pm-11pm. Like today i had money in my salaries account that should have been put back on to card get home from work at 7pm and guess what not put back on as it a Friday cant get hold of them as closed!! Now left with no cash and cant pay the rent which means now in going to have to make late payment… Read Full Review

By Thinkmoney

Written on: 18/08/2014

Hi,

Thank you for the feedback. We do keep the opening times of our phone lines under review. As you know at present they are 8am – 8pm Monday to Thursday, 8am to 6:30pm on Friday and 8am to 4:30pm on Saturday. We do appreciate that some customers want to make transactions outside those hours – although a great many of these can be done online via our Online Account Management service.

If you want to avoid calling us altogether then you can contact us via email, Twitter and Facebook and we will call you back. You can also make changes on your account by text during working hours – just text CHANGE “Please transfer £ to my card account” and we will action it for you.

We hope this helps your experience of using thinkmoney going forward.

Thank you

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★☆☆☆☆

“made 1 transaction on the internet then barred the card ”

Written on: 07/08/2014 by Brooksfv78 (1 review written)

Wow .. I made 1 transaction on the internet and they barred my account .. then to get the bar lifted I have to ring the customer service number. Now not only do you have to pay for the phone call but I was on hold for a total of 40 mins . Now this is not acceptable and especially not when they are charging you to call it. So the outcome is they bar your card for no reason so you have to call and then charge you a fortune to call them. so they make money of you for no reason at all and for doing… Read Full Review

By Thinkmoney

Written on: 11/08/2014

Hi,

We are sorry you are unhappy with your account.

We take the security of your account seriously and would only block a card if we had good reason to, this would usually happen if we needed to confirm that transactions were being made by the account holder.

We understand that call costs can mount up and are working hard to reduce call wait times, typically our busiest time of day would be 8-10am Monday to Saturday and 5-7pm Monday to Friday. We do offer a number of different ways to manage your account and get in touch with us, you can manage and track your account via Online Account Management, use our text change service, email us, or contact us via Facebook or Twitter.

It is sometimes necessary to transfer money from your card account to salaries account to ensure your bills are paid are on time, this often happens if a bill is claimed for on a different due date or for a larger amount than is being budgeted for. Likewise if a bill is less than we are budgeting for we will transfer the surplus to your card account. Providing we have a registered mobile number on your account we will always text you to confirm if we have had to move funds.

If you would like to get in touch with us we will be able to confirm why your card was blocked, ensure we have the most up-to-date information for any bills you have and check your account is running smoothly.

I hope this helps.
Sarah

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★☆☆☆☆

“Shocking services”

Written on: 29/07/2014 by Angryteddy12 (1 review written)

I have been with think money for over a year now have had a loan with then for a year never missed a payment even rang them up asked if I settled the loan could I get a new one they wouldn't commit but said it shouldn't be a problem I explained to them that if I paid it off early it would be taking everything I have left for the month they again said it should be fine I paid the loan up only to be told I have to reapply for a loan this I did every thing was going well e signed everything sent… Read Full Review

By Thinkmoney

Written on: 31/07/2014

Hi,

Thank you for the feedback. I would like to look into this in more detail for you so please do email me via the email address listed in the Contact Us section of the thinkmoney website so we can investigate the advice you were given.

We are committed to responsible lending. In practice what this means is the each time a client applies to borrow money we will do a review of their circumstances to ensure that the loan is affordable. The applications do take into consideration the patterns of usage of your account, which we appreciate can change over time. Unfortunately this can mean that although you are accepted for a credit facility or loan at one time you may be rejected on a future occasion. We apologise if this was not explained clearly to you. You can find details of our approach to responsible lending on our website.

Thank you

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Willbabe's Response to Angryteddy12's Review

Written on: 19/08/2014

Hi I had the same issue Iv been with think banking for 5years and last year I got a loan from them I paid my loan on time and made the last payment last week I asked if I could reapply again and they yes so I did application and they did a credit check then the guy said over the phone yes your loan has been approved in principle so i got the email of e-sign and agreed to it sent it back then I got my contracts on a second email and that they are at the final stage of my loan application so I thought this is good and I reserved a car I was gonna buy. Then on Monday afternoon I got a email from think banking saying thank you for your application for your loan unfortunately your application is declined due to internal credit check fail. So I rang think banking up and the girl said it was down to your internal credit score we use and didn't match are criteria needed but we will phone you if it changes in the future . But she said as a plus customer you are entitled to the £200 credit line you have for 30 days . So my answer was no thankyou . But my question is why was it 1 year ago I was good enough for there personal loan and now all of a sudden I'm not good enough for them ? What's changed. I know one thing after 5 years I'm gonna say good bye to think banking and under the 7 day switch service I'm moving to Barclays Bank instead so stuff you think banking for broken promise it can not keep . Iv had to cancel the car I had reserved and keep going with what I have .

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★☆☆☆☆

“Terrible Service - There is a limit to how many purchases”

Written on: 28/07/2014 by Darkwii (1 review written)

I have had one of these accounts for a few months now. Please, if you're thinking of opening one...then don't. I had some experiences this weekend of paypal transactions being refused by my 'card issuer' even though there is plenty of money in my account to pay for them. So assuming it is the bank doing a 'usual spending pattern' automated security check I waited until after the weekend to ring them up. Really unhelpful and all they could tell me was that because I had exceeded my 'allowed'… Read Full Review

By Thinkmoney

Written on: 28/07/2014

Dear Darkwii,

I’m sorry that this experience has tainted your view of your Personal Account. Unfortunately our security system does look for any ‘unusual’ account activity. A large number of relatively small transactions in a short period of time can be an indication that an account has been compromised and as a precaution the system does block further transaction to give us time to investigate. Ultimately this is for your protection.

We do appreciate that in this case the purchases were nothing untoward and apologise for any inconvenience this has caused. Accounts will usually re-set overnight and as you say cash withdrawals are still available during this time. We are always looking at ways in which we can improve our customer experience and have taken your feedback on board.

One way that you can avoid this issue when using PayPal is to make a single transfer to pre-load your PayPal account then use that to make the multiple smaller transactions.

We value your custom and hope that you decide to remain with us.

Thank you

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Darkwii's reply to Thinkmoney's Comment

Written on: 29/07/2014

Firstly, your call centre told me it was a 'transaction limit'...not suspicious activity.

Plus that isn't what every other bank do though... they don't block your card and then tell you 'tough... it'lll work again in a couple of days'

They block it until you ring them... then they unblock it immediately. Like I say in my review, I've worked at manager level in several banks..at head office. I know what other banks do, so why aren't you? Your parent company RBS has the capability to do unlock a card immediately so it's nothing to do with the IT systems not having that capability - it's a business decision, and one for the life of me I can't work out why you'd have a limit of how many transactions (not suspicious ones...that's not what I was told had triggered it, just the amount of them)

After I wrote this yesterday I went to the Citizen's Advice Bureau to speak to someone I know there about this. They've never heard of a 'transaction limit' on an account that can't simply be taken off either. They're going to write to your Chief Exec for some clarification because they have lots of clients who by the very nature of their circumstances are making lots and lots of small amount payments to different people that could trigger the same events.

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Darkwii's Response to Darkwii's Review

Written on: 29/07/2014

Also,

"One way that you can avoid this issue when using PayPal is to make a single transfer to pre-load your PayPal account then use that to make the multiple smaller transactions."

Do you shop like that? Make a guess as to how many things and for what value you're going to spend and then put that money into someone else's hands until you decide you've seen something?

No... didn't think so, and neither does anyone else.


I did transfer enough money over to paypal in one go yesterday to pay for everything - but hey guess what? Yup... a day later and they still haven't arrived at paypal. Your literature says that when someone with one of your accounts wants to pay a bill, it will 'usually' be with the other person the next day.

So your answer to all this is to put money directly to paypal....... but even that takes OVER A DAY to do with your bank.


Seriously, to anyone at all reading reviews before choosing an account... .don't choose this one.

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