Card One Money current account review

Find out whether a current account from Card One Money could work for you.

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Card One Money

If you have a poor credit history, getting accepted for a current account won’t always be straightforward. But the good news is that Card One Money is one of the few providers that won’t run a credit check as part of your application, you just have to verify your identity and residency. Here’s more about its personal currency account. If you are looking for Card One Money’s business account, we have a review on that too.

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Name Product Finder Score Account fees Funding requirement Interest (AER) Arranged overdraft Incentive Representative example Link
Current Account
Not yet rated
£12.50 per month
No minimum funding requirement
0% AER

tag iconEarn cashback of up to 3.5% at more than 35 major high street retailers when using CardOneMoney card.
Current account switch service guarantee badge Account fee of £12.50 per month or £5 per month.
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Types of current accounts on offer

Card One Money has 1 personal current account which includes a prepaid Mastercard. It doesn’t require a credit check and you can apply regardless of your employment status, which makes it a good option if your credit score isn’t up to scratch. However, it does charge a £12.50 monthly fee and there are certain fees that will apply for using your prepaid card. If you withdraw cash on your card in the UK, for example, you’ll pay a fee of £1.50. This rises to £3 plus a 2.75% foreign transaction fee when you withdraw cash from an ATM overseas.

Here are some key things you can do with the account:

  • Set up direct debits, pay bills and create standing orders
  • Receive a prepaid debit Mastercard
  • Earn 3.5% cashback when you spend at certain retailers
  • Order a second card linked to your own account which lets you set a fixed monthly allowance
  • Load your card through the mobile app
  • Manage your account online or via the app, plus you can contact the call centre over the phone

Benefits of opening an account

There are several benefits of opening an account with Card One Money:

  • No credit checks. Your credit history won’t be checked as part of your application.
  • Easy to open. Accounts can be set up quickly.
  • Cashback rewards. You can earn up to 3.5% cashback when you spend at certain retailers.
  • Multiple users. You can have more than 1 card set up on the accounts.

How to open an account

You can apply for a Card One Money account online by filling in the application form and providing a few details about yourself. As mentioned, no credit checks will be carried out. Instead, Card One Money will verify your identity and residence and you’ll then be up and running.

If you have any problems with your application, you can phone the call centre which will guide you through the process.

Is Card One Money safe?

Card One Money does not have its own banking licence, which means that your money won’t be protected by the Financial Services Compensation Scheme. This protects deposits of up to £85,000 per person if a financial institution goes bust.

However, Card One Money is authorised by the Financial Conduct Authority to operate as an Authorised Payment Institution in the UK. This means it has to safeguard customer funds in a ring-fenced account at a UK bank.

Pros and cons of Card One Money


  • No credit check required
  • Quick application process
  • Cashback rewards available on the associated Mastercard
  • Multiple cardholders


  • Account fees are high
  • Fees also apply to certain transactions
  • No overdrafts available
  • No FSCS protection

Customer service information for Card One Money

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Our verdict

If you have poor credit, Card One Money’s personal account is likely to appeal. With no credit checks and the only requirement being to verify your identity and residency, you can get an account set up quickly. The cashback programme is also a useful perk.

However, the big drawback of this account is the fees involved. As well as charging a monthly fee of at least £12.50, there are also transaction fees to watch out for such as UK ATM withdrawal fees and same-day payment fees. For this reason, it’s worth shopping around and comparing what else is out there before making your decision.

Frequently asked questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

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