About Our Charges

A cardonemoney current account costs just 12.50 per month. The fee is taken on the 1st of each month from your cardonemoney current account. If you choose not to use the account you will not be charged.

Fees FAQs

  • Is there a minimum contract period?
    • No, it's a Pay As You Go current account. You can cancel your account at any time.
  • What happens if I don't have enough money in my account to pay the standing order for my rent, for example?
    • Then we don't pay it. We certainly won't charge you for the privilege like some high street banks do. If you are paying by standing order we will let you know by text 5 days before it is due should you not have enough money in your account to pay your bill. We will also try to pay the bill for you for 3 days following the due date, to allow you time to put some more money in to cover it. If you are paying a bill by direct debit we will let you know by text on the day the direct debit is due and give you until 5pm to have the cleared funds in your account to cover your bill. Again if you cannot cover your bill we will not charge you for the unpaid direct debit.
  • Are there any other charges?
    • We charge a small fee to use an ATM (currently 1.50)***
    • Adding a second person to the account costs an additional 5 per month.
  • If I don't have any money in my account will you still charge me 12.50 ?
    • If you don't have any money in the account, we only accrue up to two months fees. We only take fees from available funds so the next time you use the account, the fee will be paid automatically.
  • Can I get into any debt using this account?
    • No, there is no credit line connected to the account.
  • Why should I pay a fee for a current account?
    • All banks charge you in some way, that's how they make a profit. We're not a bank and are open and up-front about how we charge you. Some banks hide their fees in lengthy terms and conditions. You only find out the fees when they charge you for returning a payment or going overdrawn.

The CardOneMoney current account is not covered by the Financial Services Compensation Scheme. Please see our FAQs for more information.

*Subject to identification, residency - see terms and conditions. Cardholder must be at least 18 years of age.

CardOneMoney is a trading style of Spectrum Payment Services Limited, a company registered in England & Wales (No. 06268340) with registered Office at 3rd Floor, Vintners' Place, 68 Upper Thames St, London, EC4V 3BJ. Spectrum Payment Services Limited is authorised and regulated by the Financial Conduct Authority as a credit broker (FCA No. 839341) and to provide payment services (FCA No. 504547). We are not a lender.

Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The Card is issued by Fair Payments Limited pursuant to license by Mastercard International Inc. Fair Payments Limited is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900493) 2020 All rights reserved.