Thinkmoney Explained

thinkmoney
Type:Private
Industry:Financial services
Location City:Trafford Park, Greater Manchester
Location Country:UK
Products:Current Account, Credit Card, Insurance, Loan
Owner:tmg
Num Employees:1000

Thinkmoney, stylised as thinkmoney, is a UK-based banking services provider that primarily offers current accounts for a fixed monthly fee with no overdraft or transaction charges.[1] [2] Thinkmoney's online system offers a budgeting service that sees customers money split into two accounts, one for spending and one for bills – an approach sometimes known as jam jar banking.[3]

Thinkmoney's current account has received a four-star mark by the Fairbanking Foundation.[4] [5] [6] [7] [8]

In 2012 customers of thinkmoney (then known as thinkbanking)[9] were left without access to their money, due to a computer failure at Royal Bank of Scotland which it relies on for access to the payments infrastructure.[10] A similar failure at RBS left some thinkmoney customers without access to their incomes again in June 2015.[11]

See also

External links

Notes and References

  1. Web site: 60 second guide to basic bank accounts. Which?. 9 April 2016. 7 November 2018. https://web.archive.org/web/20181107010204/https://www.which.co.uk/news/2011/08/60-second-guide-to-basic-bank-accounts-263790/. live.
  2. Web site: Can jam jars really save you money?. Yahoo! Finance. 9 April 2016.
  3. Web site: thinkmoney Personal Account: bank account that ensures you'll pay all your bills. AOL. 9 April 2016. 5 March 2016. https://web.archive.org/web/20160305215907/http://money.aol.co.uk/2013/06/21/thinkmoney-personal-account-bank-account-that-ensures-youll-pa/. live.
  4. Web site: Current Mark Holders. The Fairbanking Foundation. 9 April 2016. 17 June 2016. https://web.archive.org/web/20160617173436/http://fairbanking.org.uk/fairbanking-marks/current_mark_holders/. live.
  5. Web site: Fairbanking to certify UK bank accounts. Financial Times. 9 April 2016. 1 July 2016. https://web.archive.org/web/20160701182837/https://next.ft.com/content/5b7acb6a-0e25-11e2-8b92-00144feabdc0. live.
  6. News: RBS account gets Fairbanking award. Eley. Jonathan. Financial Times. 22 November 2013 . 14 April 2016. 10 August 2022. https://web.archive.org/web/20220810140841/https://www.ft.com/content/fd3ded4c-537a-11e3-b425-00144feabdc0. live.
  7. Web site: Basic bank accounts: what are the options for bankrupts?. https://ghostarchive.org/archive/20220507/https://www.independent.co.uk/money/basic-bank-accounts-what-are-the-options-for-bankrupts-8209580.html . 7 May 2022 . subscription . live. The Independent. 12 October 2012 . en-GB. 14 April 2016.
  8. Web site: Britain's best and worst banks. Yahoo! Finance. 14 April 2016. 22 November 2016. https://web.archive.org/web/20161122072436/https://uk.finance.yahoo.com/news/britains-best-worst-banks-105552663.html. live.
  9. Web site: thinkbanking's name change: your questions answered. thinkmoney.co.uk. 9 April 2016. 24 April 2016. https://web.archive.org/web/20160424214021/http://thinkmoney.co.uk/news-advice/thinkbanking-name-change-your-questions-answered-0-3961-0.htm. live.
  10. Web site: Royal Bank of Scotland-Nat West computer glitch: Computer says no. The Daily Telegraph. 9 April 2016. 5 May 2017. https://web.archive.org/web/20170505225250/http://www.telegraph.co.uk/finance/personalfinance/bank-accounts/9353390/Royal-Bank-of-Scotland-Nat-West-computer-glitch-Computer-says-no.html. live.
  11. Web site: Farrell. Sean. Fishwick. Carmen. RBS could take until weekend to make 600,000 missing payments after glitch. The Guardian. 9 April 2016. en-GB. 17 June 2015. 28 March 2016. https://web.archive.org/web/20160328164532/http://www.theguardian.com/business/2015/jun/17/rbs-fails-to-make-600000-payments-customers-it-technology-failure-bank. live.

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