Thinkbanking

Dr_Cuckoo3

pmduk wrote: »

So a self-appointed organisation like fairbanking consider thinkbanking is a good buy, whilst many of the members on here says they aren't. This is a money-saving site. Why encourage people to pay over the odds for a service that they can do for themselves for nothing?

Thinkbanking sell their services on the basis of fear.

I think the Fairbanking charity has conducted more research on the subject than "members on here" therefore the charity will have more credibility :whistle:

I was a little surprised that only Thinkbanking and Secure Trust met the required standards for promoting 'financial well-being' in a current account , I was expecting Credit Union current accounts to score highly too :think:


Mark Hoban, Financial Secretary to the Treasury, welcomed Fairbanking's work, saying he was 'pleased' to support voluntary initiatives promoting financial well-being.

So look out for the Fairbanking Mark. The product carrying it may not be the cheapest in the market or even the best given your own circumstances, but it will have proven that it can make a real difference to how in control of your finances you feel.Antony Elliott, Director of the Fairbanking Foundation

Thinkbanking - Fairbanking

I see that pmduk lives in Salford , where Thinkbanking are based :silenced:

MS Kitten holds an account with Thinkbanking and cannot recommend them highly enough

MS_Kitten wrote: »

I tried an account with the Co-Op, did not work for me. They let me go overdrawn so easily. In the end the account became yet another overdraft to add to the pile.

A friend reccomended Yorkshire Bank. I tried but slip 1p overdrawn and enjoy £35 per transaction in fees (Max £210 per month). I tried to reason with them but in the end it wasnt working out.

I joined thinkbanking in March. I have an account manager called Rachel. She personally texts me to let me know when my wages have gone in, how much she has automatically held back, how much is available on my card and if i would like that balance to become gradually available for example £100 per week. Since joining i have not paid one bank charge or missed a direct debit.

It sucks that Rachel is going on holiday for two weeks in August and i wont be able to text her about my money but she is trusting me not to make a mess of it all lol.

I cannot reccomed them highly enough. For me its worth £150 per year for someone to help me break the cycle of financial reoffending i was in.

Hope this helps. xx

masonic

Dr_Cuckoo3 wrote: »

MS Kitten holds an account with Thinkbanking and cannot recommend them highly enough

:rotfl: How totally surreal. It's like a rehab clinic for people who can't keep control of their bank balance. Maybe £150 isn't such a rip off if these people are able to learn from the coaching, and then get released back into the community and are able to stay clean.

pmduk

There are many organisations in Salford (Indeed the registered office in this website used to be based in Salford). However I have no connection with either of these organisations. I'm just sensible enough to recognise that a new organisation like fairbanking will often make controversial claims in order to get publicity. I still feel their recommendations have little relevance to either the ordinary man on the street or the generally more canny members of this site.

While you're drawing generalisations, you've made no comment on the fact that there are few recognisable supporters of fairbanking.

jaijo1971

I have been with think banking a few years now and find them very helpful except when rbs screws up with their software downloads and you can't get to your money for a few days/week.

datostar

masonic wrote: »

:rotfl: How totally surreal. It's like a rehab clinic for people who can't keep control of their bank balance. Maybe £150 isn't such a rip off if these people are able to learn from the coaching, and then get released back into the community and are able to stay clean.

Perhaps you're being a little harsh with the comment about being 'released back into the community' but having seen that post and considering the huge number of people in these forums on limited incomes who do have difficulty managing their money, there does seem to be a distinct need for an account to run like that. Obviously it costs more to provide than one that just ticks along until it rapaciously attacks the customer with charges and makes a profit that way.

vincerob69

KingElvis wrote: »

Crooks, just go to a bank and get a basic account.

These people should be put out of business.

A touch unfair here I feel.

Personally I use a similar account with Secure Trust Bank which
functions perfectly well as a basic bank account. I was able to open an account without any problems even though my I.V.A meant the standard High St Banks wouldn't touch me with a barge pole.
Of course you ARE supposed to be able to open a basic
bank account but that's not how it actually works.
In reality the Banks are keen to 'upsell' so they run a credit check and then show you the door.
(In my case the CO-OP wasn't an option)

The main issues with these accounts are the monthly charge,
the 50p a time ATM fee and the fact that some on-line merchants will treat the linked Mastercard as a credit card and apply a surcharge - however it's horses for courses.
Secure Trust and others like ThinkBanking and Cashplus provide a useful service if (as is the case with yours truly) you have screwed up in the past.

Must confess I am thinking of giving Dr_Cuckoo's tip about the Bank of Baroda savings account a whirl.

bagpuss38

I've been with thinkbanking for just over a year and my bills have never been paid so regulaly.
Yep it costs £14.50 a month but I was paying £35.00 a month in charges as well as the debits itself.
I like their internet banking as you can amend DD's and SO and see exactly what money is coming and going for weeks in advance.
It may not be everyones cup of tea but it has been a great help to me.
Although not this week given that their parent company is RBS:mad: