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Think Banking = Personal banking
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Old 22-03-2011, 15:43   #16
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Re: Think Banking = Personal banking

Just get a basic bank account with a cheque book? If those guys don't allow overdrafts they certainly won't be offering a cheque guarantee card.

In fact they don't, and that card isn't a debit card it's a prepaid Mastercard. Do expect to pay through the nose for withdrawing cash on it.

Avoid, avoid, avoid.

EDIT: Alternatively just get a planned overdraft and exercise some willpower.
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Old 22-03-2011, 16:45   #17
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Re: Think Banking = Personal banking

I go with sticking to your NatWest account and setting up an agreed overdraft, if you don't use it it will work out a lot cheaper than the Think Bank option you are considering sczoo19. I have had an agreed overdraft for longer than I can remember and have never used it but have the safety net of knowing that if I did have to it would be the cheapest option open to me.

As far as using cheques the check card guarantee system, mentioned by igni, is due to end on 30th June this year and any cheques issued after that date will not be covered by the guarantee so cheques may no longer be accepted by anyone who needs verification that the cheque will be honoured.

http://www.investmentinternational.c...june-4300.html
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Old 16-05-2011, 20:06   #18
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Re: Think Banking = Personal banking

Re: Think Banking = Personal Banking HELL!

In March 2011 I set up a bank account with Think Banking. At the beginning of April 2011, I paid multiple cheques into my account. The cheques had cleared and debited from the cheque payer’s account. I was told that the cheques will be credited into my account by the 15 April 2011.

However, this has not happened, I have repeatedly contacted Thinking Banking and asked why? The response on each occasion is that they are experiencing an IT problem and that they will get back to me when they have something positive to tell me. I asked for a guarantee that my money was safe, to which their “Money Manager” representative reluctantly replied yes after my fifth time of asking.

Think Banking have no idea what the IT problem is or the earliest/latest date that the problem will be fixed.

I am seriously anxious and concerned about their lack lustre and laid back approach to money that is a vital part of my every day living life.

Update
1. 3rd May 2011, after a further conversation with a Think Banking Money Manager, the multiple cheques (Totalling over £5000) were finally credited to my card account. I was told I could withdraw from any RBS ATM machine a maximum total of £450 a day.

2. I withdrew £450 each day from the 3rd May 2011 to 7th May 2011.

3. 7th May 2011, I received a letter from Think Banking stating that unfortunately we are unable to continue to provide a service and subject to their Terms and Conditions of use and hereby given 7 days’ notice that the account will be closed on the 12th May 2011. This letter was dated the 4th May 2011.

4. 8th May 2011 the ATM refused to process any withdrawal request.

5. 9th May 2011 I contacted a Think Banking Money Manager for an explanation. They stated that ATM refusal was a security check prohibiting the misuse of a stolen card. I stated that the card was not stolen and please could I withdraw the allocated daily amount. They apologised, but said that unfortunately the card will be blocked for 24 hours.

They also said that my Account will be closed and that I should make alternative banking arrangements and any balance remaining in the account on the closure date will be refunded (Note: Initially Think Banking said this was a directive that came directly from the RBS, in another phone conversation they retracted the statement and said they were not affiliated with the RBS).

“Think Banking Limited which is not part of the Royal Bank of Scotland Group”

They said they were not at liberty to disclose any reason for closing the account. I said that my account was functional on the 3rd May 2011 and now a letter dated 4th May 2011 will close the account on the 12th May 2011; and after all the inconveniences of April, I should pay £25 setup fee and £14.50 monthly operational fee.

The account was terminated on the 12th May 2011 and subject to the outcome of a complaint I lodged concerning the service I received, will I hear whether I shall receive a refund of £25 setup fee and £14.50 monthly operational fee.

The most annoying aspect of dealing with Think Banking is that they constantly text/phone for your identification, salary and direct debit details, but as soon as they have these details they appear to offer any excuse for not providing a transparent banking service.

Think Banking are not a Bank, all they do is provide a questionable banking service.
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Old 16-05-2011, 21:26   #19
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Re: Think Banking = Personal banking

Think banking isn't part of RBS Group, but any accounts you have with them are held with RBS. As you have said, they aren't a bank, they are an account management company.
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Old 17-05-2011, 10:56   #20
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Re: Think Banking = Personal banking

If you still havent got the reason for them closing the account you can do a DPA request, requireing them to hand over a copy of ALL records they hold on you (which should include the reason for deactiation).
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Old 30-05-2011, 19:29   #21
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Re: Think Banking = Personal banking

Thanks all for your advice on TB! much appreciated!

I have now just changed to Natwest and I must say they suit me to the ground
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Old 30-05-2011, 22:15   #22
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Re: Think Banking = Personal banking

I've been with Natwest since i was 19 and not had any problems with them so far.
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Old 02-06-2011, 17:53   #23
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Re: Think Banking = Personal banking

Quote:
Originally Posted by SnoopZ View Post
I've been with Natwest since i was 19 and not had any problems with them so far.
Thats good!
Hopefully I will be able to say the same thing (a few years down the line)
the only thing I don't like it there OD charges rather steep compared to my Santander (when they were good)
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Old 25-04-2012, 02:42   #24
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Re: Think Banking = Personal banking

I've been in think banking for about two years now, this being the only bank that I could find that would accept me because I had gone onto debt management, I have since found others where I would be accepted but none as good as thinkbanking. Apart from my decision to go on debt management this was one of the best decisions I have ever made, I have had no problems whatsoever. There is an initial fee to pay for setting up the account then a £12.50 a month fee. I used to pay that at my previous bank for an additions account so no loss there for me. The benefits of this bank is that your money goes into a salary account where your direct debits and standing orders are paid from and what's left goes into a card account and this is yours to do whatever you want to do. So providing you have enough money going in you can never get overdrawn. I am tired of seeing posts where there are complaints about the monthly fee with this account there are no overdraft charges because you cannot get an overdraft in thinkbanking and I bet the normal banks are ripping you off with other charges as well.
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Old 13-05-2012, 02:26   #25
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Re: Think Banking = Personal banking

Quote:
Originally Posted by tony007 View Post
I've been in think banking for about two years now, this being the only bank that I could find that would accept me because I had gone onto debt management, I have since found others where I would be accepted but none as good as thinkbanking. Apart from my decision to go on debt management this was one of the best decisions I have ever made, I have had no problems whatsoever. There is an initial fee to pay for setting up the account then a £12.50 a month fee. I used to pay that at my previous bank for an additions account so no loss there for me. The benefits of this bank is that your money goes into a salary account where your direct debits and standing orders are paid from and what's left goes into a card account and this is yours to do whatever you want to do. So providing you have enough money going in you can never get overdrawn. I am tired of seeing posts where there are complaints about the monthly fee with this account there are no overdraft charges because you cannot get an overdraft in thinkbanking and I bet the normal banks are ripping you off with other charges as well.
Yeah i think its luck of the draw to be fair, same with every other bank out there some people are lucky and some aren't lol
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