Gregory pennington/Think Banking Account

pinkisgreat1984

I just looked this up online- a managed bank account with gregory pennington called think banking. Just wanted to know if anyone had this account and what its like? I'm interested in it because I'm incurring a lot of fees on my current bank account (tried to claim back to no avail) and feel I need a managed account to help me manage my budgeting better!

becksdawe

My partner is with these. I believe there part of the Royal Bank of Scotland group - or use there banks or something like that...

He doesn't rate them at all - but he's not around for me to ask him why - I'm sure someone else here will be able to help you more than me!

~Beanie~

They charge you a monthly fee don't they?

All you need to do is have 2 bank accounts, one for your salary to go into and direct debits to come out of, and a second one.

Add up how much your DD's and regular payments come to each month, take this away from how much is paid in each month and transfer the rest to account no.2 and use this one for spending money etc.

I.e - Salary £1200 minus DD's £500 = £700 to transfer to 2nd account.

Deep_In_Debt

Think Banking charge about £12.00 per month to manage your account, I think.

I've got a Natwest Step account with Solo card but no overdraft or cheque book. It is a basic account but you can manage it on line and apply for it on line and Solo is accepted on line and in quite a few shops. It's certainly helped me with my finances.

NoMoreDenial

I had a think banking account for 6months when i first started my debt management plan in Sept 2007.It really helped me to know that all my money for my direct debits were taken care of,i was in such a mess financially,it was worth the £12 a month just to get me in order and organised. When i trusted myself again to manage my own money i opened a Yorkshire bank readycash account it has online banking and a maestro card (no cheque book or overdraft) which was nice and easy to set up with no credit check just a bankcuptcy check. The only thing with think banking is the wait time on the phone can be quite long which was the main reason i left them. If you can manage it yourself i'd go with another bank and have two account as £12 is still better off in your pocket,however if you are in a situation like mine where i could barely bring myself to look at my bank account for some time then you may find the think banking account good in the short term!Hope that helps.