thinkmoney offers a current account with 3 different tiers \u2013 1 is free and the other 2 are paid options.<\/p>
thinkmoney isn\u2019t a bank, but it does have a range of financial products, including current accounts, credit cards<\/a> and loans<\/a>. It\u2019s an electronic money institution (EMI), authorised and regulated by the Financial Conduct Authority (FCA). Money held in an account is not protected under the Financial Services Compensation Scheme (FSCS), but it is still safeguarded.<\/p> The thinkmoney current account can be opened in the app. It comes with standard features you\u2019d expect from a current account, such as a debit card, Apple Pay, Google Pay, biometric logins and real-time notifications. The free account is quite basic, so if you want extra features you need to opt for either of the paid tiers.<\/p> The Everyday account is the free option. If you choose this you need to pay for the debit card and also pay a fee for most transactions.<\/p> The Smart account (\u00a312.50 a month) has budgeting features and ways to help improve your credit score.<\/p> SmartPlus (\u00a315.95) is the most expensive option and has what the others have, as well as access to exclusive offers and ways to save on your shopping.<\/p> These accounts could be useful for someone who wants to open an account using an app, then get it up and running quickly. However, there are other accounts that are also easy to option that come with much more in the way of features and have no monthly fees.<\/p> For most people, these accounts are probably not worth it. The Everyday account doesn\u2019t charge a monthly fee, but it charges fees for payments and standing orders, cash deposits and withdrawals, international transactions and to get a copy of your statement. There\u2019s also a fee to get a debit card. While the paid accounts don\u2019t charge these fees, their monthly fees are quite high for what you get. The features are also quite limited, especially when there are a range of bank accounts<\/a> with similar (or even better) features that don\u2019t charge monthly fees.<\/p> \nHow does the thinkmoney current account work?<\/h3>
The different accounts<\/h3>
Who is it for?<\/h3>
Pros and cons<\/h3>
Pros<\/h4>\n
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Cons<\/h4>\n
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Our verdict: Is an account with thinkmoney worth it?<\/h3>