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    • Tommyjames
    • By Tommyjames 13th Aug 19, 8:46 PM
    • 2Posts
    • 1Thanks
    Tommyjames
    Thinkmoney account blocked please help
    • #1
    • 13th Aug 19, 8:46 PM
    Thinkmoney account blocked please help 13th Aug 19 at 8:46 PM
    Hi Iíve never posted before so please bare with me!

    Iíve just opened a Thinkmoney current account, Iíve only had it a couple of weeks and itís been blocked.

    I opened the account on a whim as Iíve got my wedding coming up and wanted a separate account to use to keep track of things. I have an existing fd bank account that I use for salary and bills etc. So I transferred £3500 from fd to my thinkmoney account to pay for some work in my garden for the wedding and no problem it went straight in to it without an issue.

    Now comes the problem!

    I tried to make a transfer to pay for the work using thinkmoney and the payment was stopped, account was locked so I canít get access and the money left in the account seems to have vanished! I gave them a call and they was very unhelpful and asked me a million pointless questions, which I answered and told me I need to show them where the money initially came from. I asked them to tell me exactly what they wanted me to get them and got told itís basically up to you what you send. So I went on to my fd app and took a screenshot of my salary going in and then me transferring the money to thinkmoney. Sent this to them via email, and called to confirm they received it which they did, then got told they couldnít access my account and to call back. So I left it till the end of the day called again and basically got told nothing again they couldnít even confirm my money was still in my account!

    Can anyone help please?
Page 1
    • jonesMUFCforever
    • By jonesMUFCforever 13th Aug 19, 10:12 PM
    • 25,984 Posts
    • 13,170 Thanks
    jonesMUFCforever
    • #2
    • 13th Aug 19, 10:12 PM
    • #2
    • 13th Aug 19, 10:12 PM
    We can't no but Thinkmoney will ... eventually.
    What goes around - comes around
    give lots and you will always receive lots
    • boo_star
    • By boo_star 13th Aug 19, 11:44 PM
    • 2,216 Posts
    • 1,542 Thanks
    boo_star
    • #3
    • 13th Aug 19, 11:44 PM
    • #3
    • 13th Aug 19, 11:44 PM
    Who would open a Thinkmoney account (subprime at best) when they had a First Direct account (a bit partial to who they take on .)

    The kids really need to try harder.
    • SnowTiger
    • By SnowTiger 14th Aug 19, 12:46 AM
    • 3,792 Posts
    • 2,783 Thanks
    SnowTiger
    • #4
    • 14th Aug 19, 12:46 AM
    • #4
    • 14th Aug 19, 12:46 AM
    Who would open a Thinkmoney account (subprime at best) when they had a First Direct account (a bit partial to who they take on .)

    The kids really need to try harder.
    Originally posted by boo_star
    I wondered that.

    A thinkmoney account costs £10 a month.

    £3,500 in an easy access savings account could earn £3 (or more) interest a month.

    Having been caught up in background checks twice after transferring money from one account to another, the only advice I have is to wait.

    It's never wise to make a financial decision on a whim:

    Is the thinkmoney account protected under FSCS?

    The money you hold in your thinkmoney Current Account is not protected under the Financial Services Compensation Scheme (FSCS). As thinkmoney is authorised and regulated by the FCA as an e-Money Institution, your money is protected and, unlike the FSCS, this protection is not limited to a certain amount. This means that your money is held separately and securely and, if something were to happen to thinkmoney, you would always receive it back.
    • Tommyjames
    • By Tommyjames 14th Aug 19, 11:26 AM
    • 2 Posts
    • 1 Thanks
    Tommyjames
    • #5
    • 14th Aug 19, 11:26 AM
    • #5
    • 14th Aug 19, 11:26 AM
    Thanks for your reply’s to my post.

    Just a quick update. I’ve spoke to them today and it’s like taking to a brick wall! Still won’t tell me or do anything on the account, just told me to wait. But can’t even tell me a timescale on how long I’ve got to wait. It’s a complete joke!!!

    As for opening the account it wasn’t one of my smartest ideas, should of done a bit of research first and run a mile!!!
    • eDicky
    • By eDicky 14th Aug 19, 11:55 AM
    • 4,822 Posts
    • 2,927 Thanks
    eDicky
    • #6
    • 14th Aug 19, 11:55 AM
    • #6
    • 14th Aug 19, 11:55 AM
    If your transactions have been flagged by their system for checks into possible fraud or money laundering they are not permitted by law to tell you anything while it's in process. This is true for any financial institution. So apart perhaps from making sure that your source of funds info has been received, there is nothing for you to do but wait...
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