Think Money Account?

Kitten_Claws

Hi I am looking to open a joint basic bank account and applied to Think Money. However after searching the internet it seems they get a bad opinion. Has anyone had experience of this company?

pmduk

The main basis of the bad comments they receive is the fee they charge for doing what would take you just a few minutes to do yourself. I'd avoid any of these accounts unless your credit is so shot that no high street bank will touch you.

I've never held one of these accounts fortunately.

MrSilk

IMO, they prey on the desperate and take £££ a month with nothing in return. Get a basic bank account from a high street bank and you'll be better off.

AVIOD

Kitten_Claws

I thought as much. I'll get down to Barclays today. Thanks x

pmduk

I think that's the best idea.

Kitten_Claws

Thanks guys. I have opened a Barclays Cash Card Account. I have read further 'adverse' about TM and I am appalled that companies are out there waiting to pounce on those who are struggling already. When is something going to be done about payday loan companies and other such sharks?

pmduk

To be fair, there are people who are unable/unwilling to manage their money or have such a poor history with accounts that thse are the only accounts available to them. But as I've already said these accounts should be a last resort.

jonesMUFCforever

Kitten_Claws wrote: »

Thanks guys. I have opened a Barclays Cash Card Account. I have read further 'adverse' about TM and I am appalled that companies are out there waiting to pounce on those who are struggling already. When is something going to be done about payday loan companies and other such sharks?

They only survive because people use them. What's the saying ''a fool and his money are easily parted''.

In theory they have an use to some people.
They are an electronic version of the pawn shop - if you fully read their terms and conditions and pay back in full on the day you are supposed to they are ok to some desperate people.

Like everything today buyer beware.