Thinkmoney

thinkmoney

Type	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 2016, thinkmoney customers where unable to access money pay bills when a system update went wrong. dispite a 12 month trial when all accounts where migrated the system went into meltdown on both internal and external systems. FCA where made aware yet seemed to do nothing . uk media where also alerted yet little reports of the 100 thousand customer base afected where repoted.|website=Telecompaper.com|accessdate=12 April 2016}}</ref>

thinkmoney is an associate member of the British Bankers' Association.^[15] 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^[16] thinkmoney's research and surveys has been featured in many media outlets including the Daily Mirror,^[17] The Independent,^[18] Daily Express, Metro,^[19] Mail Online^[20] and etc.

References