Thinkmoney

thinkmoney
Private
Industry Financial Services
Headquarters Trafford Park, Greater Manchester, UK
Owner Think Money Group
Website thinkmoney.co.uk

thinkmoney is a UK-based banking services provider. It is regulated by the Financial Conduct Authority under the Payment Services Regulations.[1] thinkmoney’s Personal Account is a managed bank account and has been granted a four star mark by the Fairbanking Foundation.[2][3][4][5][6]

thinkmoney charges all customers a fixed monthly fee - £17.50 for a single account and £24.50 for a joint account with no overdraft or transaction charges.[7][8] It 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.[9][10]

In 2012 customers of thinkmoney (then known as thinkbanking)[11] 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.[12][13] A similar failure at RBS left some thinkmoney customers without access to their incomes again in June 2015.[14]

In 2014, thinkmoney introduced the First Data’s PIN Now SMS solution.[15]

thinkmoney is an associate member of the British Bankers' Association.[16] thinkmoney is a member of Think Money Group and has been listed in the Sunday Times’ Best Place to Work in the UK for the past 10 years[17] thinkmoney's research and surveys has been featured in many media outlets including the Daily Mirror,[18] The Independent,[19] Daily Express, Metro,[20] Mail Online[21] and etc.

References

  1. "Think Money Limited". Fca.org.uk. Retrieved 9 April 2016.
  2. "Current Mark Holders". The Fairbanking Foundation. Retrieved 9 April 2016.
  3. "Fairbanking to certify UK bank accounts". Financial Times. Retrieved 9 April 2016.
  4. Eley, Jonathan. "RBS account gets Fairbanking award". Financial Times. Retrieved 14 April 2016.
  5. "Basic bank accounts: what are the options for bankrupts?". The Independent. Retrieved 14 April 2016.
  6. "Britain's best and worst banks". Yahoo! Finance. Retrieved 14 April 2016.
  7. "60 second guide to basic bank accounts". Which?. Retrieved 9 April 2016.
  8. "Can jam jars really save you money?". Yahoo! Finance. Retrieved 9 April 2016.
  9. "thinkmoney Personal Account: bank account that ensures you'll pay all your bills". AOL. Retrieved 9 April 2016.
  10. "‘Jam jar’ idea fits the bill". Daily Star. Retrieved 9 April 2016.
  11. "thinkbanking's name change: your questions answered". thinkmoney.co.uk. Retrieved 9 April 2016.
  12. "Second RBS computer glitch hits bank’s savers as 100,000 customers' balances are not updated". This is Money. Retrieved 9 April 2016.
  13. "Royal Bank of Scotland-Nat West computer glitch: Computer says no". The Daily Telegraph. Retrieved 9 April 2016.
  14. Farrell, Sean; Fishwick, Carmen (17 June 2015). "RBS could take until weekend to make 600,000 missing payments after glitch". The Guardian. Retrieved 9 April 2016.
  15. "First Data deploys PIN Now SMS service at Thinkmoney". Telecompaper.com. Retrieved 12 April 2016.
  16. "thinkmoney". Bba.org.uk. Retrieved 9 April 2016.
  17. "The Sunday Times 100 Best Companies". The Sunday Times. Retrieved 9 April 2016.
  18. Smith, Mikey. "60 people a week use food bank near David Cameron's home as food poverty bites". Mirror.co.uk. Retrieved 12 April 2016.
  19. "Food banks 'storing-up health nightmare for the future', Government warned". The Independent. Retrieved 12 April 2016.
  20. Mary, Stringer. "23 reasons your gym membership was always wasted on you". Metro. Retrieved 12 April 2016.
  21. "UK children's tsars moan to the UN about child poverty". Mail Online. Retrieved 12 April 2016.
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