Open our bankrupt bank account
Introducing a bankrupt bank account
We believe that a bad credit history should not prevent someone from having access to financial products and excellent customer service. What if we told you that we have a bank account for people going through the process of bankruptcy? On top of that, this current account is designed in such a way that you won't be charged by us for missed payments!
This bank account could be ideal for anyone who wants to stay on top of their money without the stress of spreadsheets, sending off bill payments or overspending, with nothing left over to pay the bills. It is not just a bankrupt bank account - it is also useful for people who would like help with budgeting.
Perhaps you have been in debt before or perhaps you never want to get into debt? This current account is split in two, with a "Salaries" account for essential expenses and a "Card" account for spending. A team of Money Managers ensure all your essential bills you've told us about are paid from the first account before transferring the remainder to your 'card account' for spending. In this respect, you should never miss bill payments and there is no overdraft, making it ideal for people who want to avoid getting into debt.
If you're aged 18 or over and a UK resident then you can apply for a thinkbanking account today!
Will I Be Accepted?
Even if you've been turned down for a bank account elsewhere, we could help. We don't run any credit checks on our bankrupt bank account applications, and for that reason this account can be an excellent option for people looking for a discharged bankrupt bank account or undischarged bankrupt bank account. It could also be an ideal current account for anyone with little or no credit history.
Providing that you are 18 or over and resident in the UK, you will be taken through a short application process over the phone and could have applied for your bankrupt bank account within minutes! You will need to answer some questions about your income and expenditure, so have details of your finances to hand.
Application Process for the Bankrupt Bank Account
The process is straightforward and relatively fast. Most of our customers phone us or request a call back from our banking team. We will run an identity check- please be aware that this is not a credit check. Your Banking Adviser can tell you which documents you'll need.
Once the identity check is complete and you have returned your signed application form, we are able to open the account and you can pay in your income.
You will need to pay the initial fee of £25 for a single account or £30 for a joint account, plus a monthly fee of £14.50 or £21.25 for a joint account. Once the account is up and running, you can benefit from the help of our Money Managers and begin budgeting.