Why get a thinkmoney app bank account?

Written by Editorial Team
Last updated: 7th February 2020

thinkmoney is a UK-based company, who offer an app-based mobile banking service.

thinkmoney offers lots of different features, including:

  • a thinkmoney current account
  • a mobile app
  • a credit card
  • loan marketplace

This is a banking service which is aimed at making banking easy with a big emphasis on helping people to stay on top of their bills. Their slogan is “banking made easy“, which certainly proves to be true of their multi-function app.

The main selling point of this mobile banking app is that the user is able to enter in their monthly bills and set these up to be paid automatically. The difference here is that the account stores this money separately, digitally earmarking the finances in the thinkmoney app for those bills. This helps users to control their spending, so that they will  have enough for their life expenses, which can be a really useful feature for those who struggle to keep track of their monthly bills.

If you are over the age of 18 and have lived in the UK for over six months, you are able to open an account with relative ease. You fill in a form, upload a form of ID to confirm who you are and set to go. The current account costs a £10 monthly management fee payable to thinkmoney.

Much like other digital banking financial services found in the app store, you can send money and receive money in app. You can also monitor how your finances are going in the app, check your balances and transactions and get instant notifications.

This can help users to have peace of mind that they will never miss a payment.

Also – for those very used to a brick and mortar bank style, there is the ability to use Post Offices for various banking transactions such as paying in cheques, withdrawing and paying in cash. This provides a great middle group between traditional banking and new mobile forms.

Thinkmoney also offers an in-app loan marketplace, meaning that you can browse different loan options from the comfort of your sofa on your mobile phone, to see what suits you.

Once you have an account, your thinkmoney debit mastercard is issued – and if you need a credit card, you can get one through thinkmoney too.


  • This can improve credit scores and ensure bills are paid
  • No credit checks to open the account
  • No minimum amount to pay in each month
  • Debit card with contactless payment
  • No overdraft or transaction charges
  • In-app function to lock your card if lost
  • Fingerprint and facial recognition for app security


  • In-app function means there is no brick and mortar bank
  • If you’re under 18, you can’t open an account
  • Only withdrawal capacity is at the Post Office
  • Limits of £500 withdrawals at one time

More Info »

These features and services were accurate January 2020. But banks are very aware of customer demands: features may change or be extended.