How can our bad credit bank account help?
Bad credit can affect anyone at any stage of their adult life. There are many ways to avoid damaging your credit rating, including paying bills in full on time and avoiding making too many applications for credit at once - but even then, an accident or a sudden change in your circumstances could leave you with a mark on your credit history if you miss a payment.
Getting into good habits with your money can be the key to unlocking a better credit score in the future. If you have had problems obtaining a bank account with a credit facility (such as an overdraft) in the past, you may have more luck opening a basic account like ours that doesn't offer credit, but does offer other useful services.
If you're aged 18 or over and a UK resident then you can apply for a thinkbanking account today!
Bad credit bank account
A bad credit history can make it difficult to open some bank accounts, so we have designed a bad credit bank account that is open to any UK resident aged 18 or over who wants to apply - without having to pass a credit check (although we will need proof of your identity). And because we want to help you manage your money effectively, you'll have access to a team of dedicated Money Managers as well as online banking and SMS banking for when you're on the move.
We don't offer credit with this account, which is one reason why we can keep the account open to people with a bad credit history. If you have had credit problems in the past, you might be relieved to know that our account could reduce the risk of getting into further debt on your account. You can only spend what money is in the account.
The way the account is managed should mean you won't miss payments. That's because our Money Managers do all the budgeting on your behalf, to ensure your income goes towards your essential bills you've told us about before you spend that money. And even if you did miss a payment, you still wouldn't receive any "missed payment" charges from us.
Why do I need to budget?
There are many benefits to living within your means. Budgeting makes overspending less likely, which helps you reduce the risk of getting into debt. Keeping track of what you spend can be very rewarding and give you a real sense of control. It could also surprise you if you discover you were spending more than you realised on unnecessary things. Finally, living within a budget can really help you to set aside money for savings - which are a great safety net for any unexpected costs that crop up.
Living to a budget needn't be difficult and the Money Manager service that comes with the bad credit bank account is designed to make it really simple for everyone.
A bad credit bank account when you need it
Our bad credit bank accounts are for anyone with bad credit history, with a low or zero credit rating or who simply wants budgeting help from our team. If you're interested in a bank account like this, you can call the number at the top of the page, or submit an online application and we'll call you back.
We want to help all our customers stay on top of their bills and enjoy spending their remaining money with peace of mind. If you need any help, you can call us in the UK on weekdays, weekday evenings and Saturdays to tell us about your bills, Direct Debits and ask any questions about your account. We also have online banking - and SMS updates for any customer who wants to check their balance, or their most recent transactions, before they spend their cash. And we can suggest ways to save money on your expenditure, if you'd like help with that too.