“Subject: ThinkMoney: Terrible Experience with Thinkmoney Banking
Subject: Terrible Repeated Experience with Thinkmoney Banking
I am compelled to share my dreadful experience with Thinkmoney Banking, which has left me frustrated and financially strained. Despite numerous attempts to address my concerns, I have received neither acknowledgment nor a satisfactory resolution from their end.
One of the major and repeated issues I have faced was the unauthorized blocking of my existing debit card, which is valid until 31 December 2023. Despite multiple complaints and requests for assistance, Thinkmoney Banking has displayed a shocking level of negligence by not responding to my emails, phone calls, or formal complaints. This has resulted in a complete lack of access to my funds, putting me in a precarious financial situation.
I explicitly communicated that I had not received the new debit card and requested the reactivation of my existing card until the new card is issued. However, despite my urgent plea, there has been no action from Thinkmoney Banking. Therefore, I have no other option than to escalate the matter to the Financial Ombudsman Service by tomorrow, 25 November 2023.
Moreover, Thinkmoney Banking deducted monthly charges of £10.95 from my account, even though they failed to provide the agreed-upon services. They have also unlawfully taken an unauthorized deduction for the next month's fee for 17 December 2023 is particularly egregious, considering the unresolved issues and the bank's failure to fulfil their legal duties.
In light of these circumstances, I have decided to close my account with Thinkmoney Banking and formally request a full refund of this month's fee (£10.95) and the next month's fee (£10.95). Additionally, I expect compensation for the inconvenience and financial strain caused by the inadequate service provided by Thinkmoney Banking.
This entire ordeal has been a disheartening experience, and I strongly caution others against trusting their financial well-being to Thinkmoney Banking. Plus you can get a better service from many other bank accounts providers within just 3 minutes and for free and without paying the monthly unjustified account fee of £10.95. Therefore, I recommend that you open a better bank account with better banking facilities with the following banks: Kroo Bank or Monzo for free.”
“I feel for all the customers at think money you can't get through to customer service card declined every where you go why has this happened every one move to another bank think money work with capital one let's sue them to get our money back which is rightly ours”
“Been trying to update my mobile number to sign into new app for five days running now locked out app can't access money or transfer for bills every day over 2 hours trying wtaf”
“I'd give them lower if I could, absolutely awful customer service if you can get through. I've been without access to my account for 6 days now and not even close to resolving the issue. What kind of idiot turns off the old app whilst the new one is not tried and tested? I'm sure think money have made an awful lot of money from this though.
Can someone call me to resolve my issue as my account doesn't appear to exist. Please sort this ASAP so i can move banks, what an absolute joke in this day and age.”
“Horrible customer service (if you can even get through). The new app they launched is garbage and has removed the one decent feature the old app had which was budgeting forecast. Dont waste your money paying monthly fees with this place. It's not even a real bank (look it up).”
“Dear Sir(s)
I’m writing this email to expose what I consider disgusting and unacceptable behaviour of Thinkmoney towards my person as customer.
Thinkmoney is been dishonest and deceitful breaching rules and regulations under the Financial Ombudsman and the Financial Conduct Authority.
Both regulators are aware of this situation and formal complaints was raise. Financial Ombudsman was raise this concerns whit Thinkmoney.
Over 3 weeks ago I was denied access to the thinkmoney app. After several calls to customer service to find out what the issue or any explanation for this I was neglected and misinformed.
In different occasions I was told that was technical issue; I was told someone will contact me ; I was told that in 7 days I will have resolution for this situation.
All of this was lies and only happen for thinkmoney take advantage of my lack of information.
I was provide whit any information why my account was blocked.
Not aware of this and expecting funds to be transfer to my account I trust in thinkmoney and believe they should behave in good faith.
I was wrong.
After confirmation the funds was paid on my account I did check and for my surprise the same funds was not showing.
I contact again thinkmoney to raise my concerns and once again I was neglected and no explanation given.
Thursday 23 March I received letter from thinkmoney informing my account will be closed on 26th March. I call again and I was informed that restrictions was in place in my account and I wasn’t able to access my funds.
Thinkmoney know from the beginning 3 weeks ago that my account will be closed and restrictions was in place. But they hide that from me and dint disclose that information.
Knowing that thinkmoney accepted funds to be transfer to my account when the same was blocked already. Funds that wasn’t not showing on my balance. Thinkmoney with bad intention denied access to this funds and what they decided was closed my account.
This is unacceptable and show lack of customer care. This show how dishonest and deceive its thinkmoney.
I have family to feed and bills to pay. My soon is in hospital and I can’t provide better options because thinkmoney left me in a very difficult financial hardship.
I will make sure the consequences resulting for this will be thinkmoney responsibility and should be thinkmoney accountable for it.
Whit this in mind and whit respective complaints to Financial Ombudsman and FCA I intend to proceed whit legal action and expose the situation whit the collaboration of Financial Times editor who been in touch regarding this.
Never profits should be above of any human be. This is completely unacceptable and disgusting behaviour.
Regards
Jorge Ferreira”
“My only complaint with Thinkmoney is the call waiting times, as I don’t always have the time to wait. It’s also frustrating that there are times when the Thinkmoney card is not accepted by the retailer, particularly at self-service petrol stations. Other than that I have no complaints, as since opening my account over 10 years ago I have never been overdrawn or missed a payment, which has had a really positive affect on my credit rating.”
“The Think Money Customer Relations Unit is notorious for being staffed by vindictive low IQ malcontents with no interest whatsoever in Customer Service. The way round these idiots is to use the FCA Register and obtain the name and email address of the FCA Nominated Officer for Think Money - send your Complaint emails to him and copy to FCA Consumer email in London. Good Luck !”
“Call wait times are atrocious been trying to call all week and everytime the wait time is 45 plus minutes so still haven't been able to speak with them for a week and wasted 4 or 5 hours just being on hold. Unacceptable”
“Appalling customer service. Waiting times over an hour to speak to customer service then they keep telling you to use app which does not answer your query.”
“I have never been a customer of this bank. Someone tried to scam me online and steal my details, but only got some, enough to try and open an account with these people. I have contacted them and made the story clear, they have assured me it will go no further, but it's a few months later and I still get emails telling me to complete my account setup, despite all my efforts to end this, unsubscribe, etc. I just keep on getting the emails, so contrary to their assurances of removing me from their system, I'm obviously very much still on it. Poor poor shameful performance!”
“impossible to get through they quote 45 mins wait to speak to an advisor.ive made it to 30 odd minutes and given up atleast 10 times.i hate this lot,stressed me out for over 3 months”
“Shocking!! I have been with Think Money for far too long simply because I don't like the hassle of changing banks. However for the 2nd time in a short while my card has been blocked when I tried to make payments. I am furious about this. I have plenty of money in my account and it is up to me how and when I want to spend it. I pay £ 15 pounds for their services (??) and can't even get a call back. Sometimes I have to wait for 40 minutes (which I pay for) to speak to someone to resolve a problem which I did not need to encounter. Absolutely unacceptable and I will be switching to a different provider asap.”
“I have been with this bank for around 13 years. The call times, in the beginning, were between 45mins to 1.5 hours. This was a phone call that had to be made every Friday as my wages were never in....ever on time.
I have been on Holiday before and they had taken too much into the bill account, when I rang to gey it transferred I was told there was a problem and the money couldn't be accessed. No good in the middle of a day out on holiday. I spent hours that day on the phone trying to sort it out.
For a very short period of time in the middle of the 13 years, the service was acceptable, not good, but acceptable. and now it's awful again.
Long call times, can never access funds, the option for a call back with a message saying not to worry if you miss their call they will try again. But they don't. They leave a message at best for you to call them back...so you do call and you wait an hour and you realise you've wasted even more of your day.
Today I am late for work as I can't withdraw any money to get me to work to start with...or buy dinner when i'm there or to get home this evening. It's extremely embarrassing I start in 5 Mins.....it's a 40 travel to work, I'm still sat at home waiting to access funds.
I ask for the minimum that could be asked for of a bank. Put my money in and let me take it out. It's the minimum a bank should be able to easily deal with and yet Think Money fails miserably, regularly.
It is most definitely NOT "Banking made easy"”
“Absolutely useless and when I asked if I could speak with a supervisor they refused until I insisted. I phoned to close the account but said I couldn't until a new security password was sent out as I had incorrectly put it in 3 times which is very strange as I have never tried accessing the account after setting it up.
After insisting I speak to a supervisor, and one wasn't available which was a blatant lie as the lady was advised by someone who obviously was one. they texted me a password and if by magic the account was closed,.”
