MSE News: Atom Bank to slash best-buy savings rate - act NOW to secure 2% 1-year fix

Better_Days

Just spoken to Atom bank - their app is working 'intermittently'. I did manage to set up an account, but can't now get back into the app. Was given a/c number and sort code so I can make initial transfer of £50 to check I have the details right. Apparently £50 is their minimum amount anything less will bounce.

2% rate ends at midnight so I suspect they are quite busy.

No_Name

I'm interested in this, but uncomfortable with face and voice ID for biometrics.

Am I just being too cautious?

Assuming I do sign up, would I need to deposit an initial amount to secure the 2% or would just opening an account secure the rate - depositing amounts within next 7 days?

[Deleted User]

Open an account, stick £50 in, then you'll see how it works and see the money in the account. If you're happy you'll then have a week in which to increase the funds up to £100,000 all at 2%.

One thing, remember on the outset to stipulate whether you want the interest monthly or annually.

[Deleted User]

Just to add, when making transactions it's two of the three security measures, number, face or voice.

SallySunshine

Just opened and moved money across, nothing showing yet in Atom vault.
I'd opened but not deposited last year in their 2yr fix so was already registered.
For some reason I hadn't written down my passcode, so just used my pic recognition, blinking like an idiot. also the voice recognition which always makes me laugh when I read the script, so end up having to do it again.

When I told my O.H. I'd opened it, he said what happens if you "pop your clogs", and you don't have your passcode written down, fair point, so I've had to ring up to get it reset.

Waiting for them to ring me back, but no doubt they'll be busy today, so I'm avoiding walking under ladders, eating my O.H.'s cooking etc until they do.

I know you have 7 days while a deposit window is open, but I would have thought that with the rate dropping from midnight tonight, you would not get the 2% after then?

badger09

SallySunshine wrote: »

Just opened and moved money across, nothing showing yet in Atom vault.
I'd opened but not deposited last year in their 2yr fix so was already registered.
For some reason I hadn't written down my passcode, so just used my pic recognition, blinking like an idiot. also the voice recognition which always makes me laugh when I read the script, so end up having to do it again.

When I told my O.H. I'd opened it, he said what happens if you "pop your clogs", and you don't have your passcode written down, fair point, so I've had to ring up to get it reset.

Waiting for them to ring me back, but no doubt they'll be busy today, so I'm avoiding walking under ladders, eating my O.H.'s cooking etc until they do.

I know you have 7 days while a deposit window is open, but I would have thought that with the rate dropping from midnight tonight, you would not get the 2% after then?

No. According to the T&Cs:
'When you open an account you'll receive a fixed rate of interest on the money in that account.....'

Can't be bothered typing them all, but further T&Cs specify that you must make minimum deposit, and can only make deposits for specified period. If you don't pay anything in within specified period, account will be closed in due course.

In other words, opening the account secures the fixed rate, but you must fund within the specified period.

colsten

No signs yet of my Woodford Patient Capital Trust bouncing back due to the massive success of Atom Bank.

frugal90

Worked fine for me, I created a 2 year and a 3 year saver.

Rich2808

I am trying to use the app to apply - nearly made it and got to a screen that says

'That shouldnt have happened - we will look into it' from Helen Head of Customer service.

It then asks me to return to the home page but the app is stuck and won't let me. Helen seems happy anyway!

munkee_saver

I would give them a call Rich. Their call centre staff are excellent to be fair. You can tell theres a lot of first direct management there.

Also if you tap the App screen 5 times you will see a debug page open up. At the bottom it may list some strange words like animal names. If you see those its specific errors. I dont know the translation of what the errors mean but the call centre staff use it to debug issues really fast without you having to tell them some random garbage error message.

Alternatively if you can login they have a "app chat" which seems to work pretty good too.