thinkmoney Managed Current Account www.thinkmoney.co.uk – Questions & Answers

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Asked by Kevfk on 13th October 2021 Report this content
What is the limit you can pay on your card when purchasing goods and services?

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Asked by DENISEGRIFFITHS on 11th June 2020 Report this content
How do I close this acount, as it is not suitable for my needs?

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Asked by jasonbrighty on 8th November 2016 Report this content
After reading all the bad comments I'm a bit worried that my wages ain't gonna go in, can anyone tell me if I should be worried please?

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Answers (1)
Report this content Johnboy024 Written on: 08/11/2016
I don't think the negative reviews are about bacs payment. Even they can't get tha wrong
Asked by jasonbrighty on 8th November 2016 Report this content
I've got a thinkmoney prepaid current account and want to know will my wages will definitely get paid into my account via bacs and what details do I have to give to my employer?

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Report this content Johnboy024 Written on: 08/11/2016
Yes they should. Give your employer the sort code and account number shown on your card
Asked by chasewick on 1st December 2015 Report this content
I have been with Thinkmoney online banking for 5 years. Can someone please tell me if I can apply for a small loan from them for one month?

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Report this content Summer06 Written on: 04/12/2015
Hi I've been with thinkmoney for about 2 years and they telephoned me offering me a credit facility on my account I'd advise you to telephone think money and discuss with a adviser. Hope this helps.
Asked by leisha44 on 21st August 2015 Report this content
I need to unblock my card account. How do I do this?

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Answers (3)
Report this content clubrob6 Written on: 21/08/2015
You need to phone your money manager.
Report this content Summer06 Written on: 21/08/2015
You need to telephone think money as they will unblock your card.
Report this content grandad8 Written on: 21/08/2015
If you phone think money you will be asked a few security questions and once you have answered these correctly they will unblock your card account for you
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Asked by leisha44 on 8th August 2015 Report this content
How do I get my balance up? I can't access my account.

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Answers (2)
Report this content clubrob6 Written on: 10/08/2015
If you mobile is linked to your account text BAL to 81122 then you get a text back.Failing that log into your online account.If all of these fail give your money manager a ring who will tell you the balance plus sort any problems you have.
Report this content Summer06 Written on: 10/08/2015
Hi you text Bal. 81122. But there's a mobile number which be free to use as the other number is chargeable. If you still cant get access to your account balance then you will have to telephone them. Also check that your mobile number is the one you use for your think money account.
Asked by kiambirose1 on 16th March 2015 Report this content
I'm an account holder but can't access my account on my phone. Can anyone help? I bought stuff from a shopping channel on installments. They were unable to take the installments, now I have double to pay this month and they have refused to send me any future goods.

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Asked by madmamma72 on 20th February 2015 Report this content
Can thinkmoney refuse to let me withdraw my funds?  I've not been able to access my online banking or text services for 10 days now and I can't withdraw my funds. I'm sat with no food or gas and electric and I'm disabled.

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Answers (3)
Report this content clubrob6 Written on: 20/02/2015
Phone your money manager you should have their contact details,they should be able to tell you what the problem is and rectify it right away.
Report this content brype19 Written on: 20/02/2015
Hi I would suggest phoning your money manager and they should be able to help you sorry cant be more help
Report this content Karl-1 Written on: 21/02/2015
phone your money manager , there may have been a problem if you tried to buy online and forgot your password and put in the wrong one 3 times by mistake , something i've done myself .... Give them a call , have all your usual details ready , and they should be able to free up your account while you are on the phone ....
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Asked by Fmarie on 26th January 2015 Report this content
Can you pay money back into your card account?

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Answers (4)
Report this content brype19 Written on: 27/01/2015
hi yes you can this can be done at royal bank of Scotland and normally registers in your account with in one hour in my experience
Report this content SonOfBelushi Written on: 27/01/2015
Yep, you can go to an RBS for pretty much instant deposits (cheques take about a week) and I believe you can do it at Natwest too but it takes longer to hit your account. Also, I pay in directly from PayPal if I sell something on eBay and it's normally there within an hour if you do it before 3pm. ThinkMoney should give you a paying-in book (I have one) but to be honest since I got my account I have just banked online mostly.
Report this content willbabe Written on: 27/01/2015
Yes you can you get issued a paying in book where you can pay in cash or cheques to ur account at any natwest bank or RBS bank .
Report this content Karl-1 Written on: 21/02/2015
Yes , you can do this at RBS and Nat West banks , I have used Nat West and it will take 7 working days to clear cheques ...RBS will be quicker , so it just depends on how close either branch is and how soon you want to use the funds
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Asked by 13robbo13 on 17th September 2014 Report this content
When is it okay for a so called bank to hold your money and then tell you over the phone that they don't know when it will be released for your own use? That's what Thinkmoney have been doing to me for the last 4 days. I can't get access to over £7000 that was paid in via the normal banking channels, they asked me to prove it's origin which I did and still no release of funds. I have reported this to the appropriate channels and even written to the directors but this pattern of events is too common.  I have decided to take legal action against this company and it's directors for damages. If anybody has experienced the same treatment then perhaps you would like to join me in suing?

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Answers (2)
Report this content ihatethinkmoney Written on: 27/01/2015
Hi there, have,unfortunately,been there. Upon depositing a few thousand pounds into my card account the first thing I noticed was I had no access to my account via the internet and my card was declined despite ample funds...no warning or notice was given by TM. Querying this over the phone I was meet with all sorts of questions about where it came from..who,why,where,what!! And you better give us evidence! Side winded by this I complied and sent all relevant emails,documents etc (I hasten to add it was entirely legit and therefore didn't imagine this sort of thing could happen) and then.......nothing! I thought (wrongly) that once they had critiqued my 'evidence' (laughable really) my money would be released without a moments delay,alas it wasn't to be. Over the course of the next two weeks or so I was given no information as to progress or why it was taking so long...or most importantly what the problem (with my sum of money) was! I had no access to my account because it was blocked and phone calls to TM's 'money managers' was akin to being put into 'Coventry' (kids game) they would tell you nothing,answer no questions,were rather rude and dismissive. (I know only too well that being rude and aggressive over a phone gets you nowhere so I was cool,calm and collected....despite how utterly outraged I was) I was in limbo...blind(no information) and crippled (financially) After a week of no news I eventually got in touch with the financial ombudsman as an initial step to taking action against them. The ombudsman (as part of the action) then informs TM that a complaint has been lodged against them and that they (ombudsman) will be investigating. By the end of week two I had already had paperwork from the ombudsman....
Report this content ihatethinkmoney Written on: 27/01/2015
....for me to give the go ahead.(apparently once a bank or institution is aware of a particular complaint against them and a potential investigation...it seems to concentrate their collective minds and resolve the said complaint in short order!) A day or so later TM got in touch to inform me that the funds were now available and access to my account had been granted as well as Internet. There was NO apology or explanation. I also received a few pounds 'goodwill' payment put into my account from TM....which amounted to two months bank charges! I was never informed of this...I discovered it by chance. During my enforced financial sabbatical I did a little digging and from the little information I could gather this is,more or less,the 'money shot'. Because TM takes on 'all comers' with NO credit checks done as a matter of policy....they assume (by default) that their paying customers are criminals or potentially so and therefore must be treated as such. When you tell them how much goes into your account each month and where it comes from....that's you nailed to a cross. IF you deposit a sum of money NOT connected to regular work/benefits ie proceeds from car sale,gifted or inheritance money,lotto win etc etc...it is immediately deemed as suspicious and frozen. You see,with TM you are by default 'guilty' and you must 'prove' your innocence....hard to stomach! They are super paranoid about money laundering and they (TM) can be fined heavily or shut down if any customer is guilty of doing so.....which makes them NO different from any other high St bank or financial institution.The difference being TM attacks their 'preventative measures' with a certain exuberance...to put mildly!! Unlike their counterparts. I'm so sorry for your experience...it will resolve itself...ombudsman if not. All the best.
Asked by Tezza1976 on 15th September 2014 Report this content
Think Money mention their a bank with transparency, why would a bank that advertise their that have no procedures and not be able to give me no information what so ever regarding a cash deposit I paid into my account and the fact it's now been TWO weeks and I still can't access it and they've also blocked use of my account. Surely a so called "bank" is breaching banking codes never mind actually breaking the law? This organisation needs some sort of penalty for its mismanagement and lack of procedure/professionalism.

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Report this content clubrob6 Written on: 16/09/2014
Cash should clear right away but cheques on this account take longer than other accounts to clear.Plus with the account now being so popular they don't have the money managers to cope with demand,everytime you phone it takes longer than 15 min wait plus you keep getting cut off.The account now coasts £14-50 per month but they now rely on the text and online to keep the accounts going basically they do not have enough money managers.
Asked by S7u8sa9nna on 23rd June 2014 Report this content
I am British woman married to a Greek living permanently in Greece but I have a small income from a property in UK...can I open an account with them to be able to pay standing orders etc. in sterling?

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Answers (2)
Report this content brype19 Written on: 24/06/2014
to be honest I am not sure best call them and ask :0 sorry cant be more help
Report this content thinkmoney Written on: 22/08/2014
Hi S7u8sa9nna, Unfortunately we can only open an account if you are a UK resident living in the UK. We wish you luck in finding an account provider. Thank you
Asked by parismc on 21st June 2014 Report this content
I recieved my think mony mastercard with sort code and account number do i have to wait on my pin to come in post does anyone know?

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Answers (2)
Report this content brype19 Written on: 23/06/2014
Hello I received my pin a few bays after but I think they have changed the system as when I got my new card I sent a txt to a number they gave me and they sent my pin via txt msg
Report this content thinkmoney Written on: 22/08/2014
Hi parismc, Your PIN should usually arrive by post shortly after you've received your card. If you do need the PIN sooner though we do offer 'PIN by Text' where you can receive your new PIN by text message in a matter of minutes rather than days by post. If you're not registered for this the log into Online Account Management and follow the instructions on your home page. You can also find 'How to' videos on our website and our YouTube channel that can help you with this should you need them. Thank you
Asked by stevechedz on 27th April 2014 Report this content
I have a think money gold account with travel insurance does it cover my family?

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Answers (1)
Report this content thinkmoney Written on: 22/08/2014
HI stevechedz, Thank you for your question. The travel insurance, linked to the thinkmoney Gold Account,is no loner available. The thinkmoney Gold Account was stopped in August 2013. We did send out confirmation of this in June 213 to all customers with this facility. Thank you
Asked by martinjohn07 on 29th January 2014 Report this content
Can you have an overdraft?

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Answers (13)
Report this content river123 Written on: 30/01/2014
I haven't actually asked the question but I would imagine you could get one. It will depend on your credit rating.
Report this content paulineandco Written on: 30/01/2014
No you cannot have an overdraft the idea of the account is to keep you out of debt so that whatever is in your card account is yours do spend as you like knowing that all bills are being paid and therefore keeping you out of debt it is an excellent account making it easier to manage your money and bills without getting overdrawn
Report this content clubrob6 Written on: 30/01/2014
You cant have a overdraft,its a managed account so you cant go overdrawn.You never get charged more than the monthly management fee.They have just started a credit facility where you can get £100 advance and you are charged £1 per day to your agreed repayment day.
Report this content Groovychic Written on: 30/01/2014
No you cant have a traditional overdraft with THINK MONEY. They offer customers who ahve been with them for a couple of months what they call an overdraft facility, but it is a pay day loan!! They charge very high interest rates and want it paid back in full on a specific date. If you fail to pay it back on that date they hammer you with really ridiculous charges. Fair to say that nothing Think Money do over and above their horrid account is very very very expensive. Think Money is one to avoid.
Report this content grandad8 Written on: 30/01/2014
No you can not
Report this content GaryNathan Written on: 30/01/2014
No you can't have an overdraft
Report this content philpownall Written on: 30/01/2014
as far as i know you can not have an overdraft
Report this content walsh239 Written on: 30/01/2014
No there is not a overdraft that way you can't get in to debt and having to pay bank charges as other bank do Thinkmoney are not like other banks this is the best as you can only use the money you have in your account . I hope this can help you ,
Report this content Wasthatmee Written on: 31/01/2014
As previously stated Thinkmoney have introduced a credit facility to account holders who have held accounts for some time with them. The facility offers either £100 or £200 that account holders may apply for. The easiest way to explain it is by example: Borrow £100 on the 14th February having agreed to repay it on the 28th of the same Month. The credit facility for £100 is charged at £1 per day. Amount Borrowed £100 for 14 days £14 Total Re-payable on 28th = £114 Similarly if you Borrow £200 it is charged at £2 per day. So if you Borrow £200 on the 10th February and agree to repay on the 28th: Amount Borrowed £200 for 18 days £36 Total re-payable on 28th = £236 Obviously in deciding whether or not to grant this facility Think take into account your ability to repay it. The re-payment amount is set aside from your Salary in the same way as your normal Monthly Bills so in normal circumstances it is not possible to miss your re-payment date thus incurring extra charges. Hope this helps.
Report this content Morzzy1 Written on: 31/01/2014
No, afraid not. But I think this is a good thing in some ways because it makes you budget better.
Report this content chunkymouse1110 Written on: 04/02/2014
No. Their is an emergency credit facility which works almost like a very cheap pay day loan, but obtaining that depends on your circumstances and involves phoning them and applying every time. Their is no arranged or unarranged overdraft facility on the think money account as you don't need one due to the fact that their system should put enough money aside to cover your bills without the need to get in to debt.
Report this content clcampbell Written on: 06/02/2014
No, I don't think you can have an overdraft. You have 1 account with 2 'pots' in. Pot 1 is your 'salary account' & this is where your wages etc are paid into. All your regular bills are paid out of this account and anything that is left over is put into pot 2. This is your 'card account' & its basically the money you have left till you next get paid. You can get instant balances by text so, in theory, you shouldn't need an overdraft because you'll always know how much money is left!
Report this content thinkmoney Written on: 22/08/2014
Hi martinjohn07, Thank you for your question, We do offer a small credit facility to customers who have been with thinkmoney for more than three months. Acceptance is subject to meeting suitability and affordability criteria. Thank you
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