Atom or Aldermore

canadawater

They have virtually the same interest rate for fixed term savings accounts. I'm going to open a fixed term savings account, and wondered whether anybody had experience with either of these providers who could advise me as to which direction to go.

ColdIron

Aldermore are fine but Atom seem to have the better rates. How do you feel about banking with an app?

canadawater

Thanks for this! I feel like the app mechanism is not much of an inconvenience. However, with the rates being virtually negligible, I'd be willing to take Aldemore's lower rates if there was a strong sentiment that they were the better choice.

ColdIron

The best choice is the one offering the best rates. For fixed rate savings you won't interact much with whoever you choose and both are as safe as each other. What is 'better' in your mind?

Armchair23

I opened a fixed rate savings account with Atom this week and can't even get an accurate balance.
Here's part of their recent email to me:
"Thank you for the recent payment into your account.
Due to a technical issue your payment is showing twice in your App. We are working hard to get this fixed so your account is showing the correct amount."
So it's pretty hard to have any confidence when I can't even see what I've invested, I'm feeling rather worried right now.

ValiantSon

Atom have the better rate, so you should probably go with them. Both are FSCS protected.

Personally, I don't like the app only nature of Atom. I would want a 'desktop' website, but that's just a personal irritation; I can't really present it as a good argument against Atom.

Armchair23 wrote: »

I opened a fixed rate savings account with Atom this week and can't even get an accurate balance.
Here's part of their recent email to me:
"Thank you for the recent payment into your account.
Due to a technical issue your payment is showing twice in your App. We are working hard to get this fixed so your account is showing the correct amount."
So it's pretty hard to have any confidence when I can't even see what I've invested, I'm feeling rather worried right now.

I can understand that feeling, but I suspect it will get sorted fairly quickly. I hope it does get resolved soon.

This is one of those areas where I feel uneasy about the app only approach. An app is fine, but I'd like another interface too. I don't really think that I am Atom's target market; I couldn't be described as a technophobe by any stretch of the imagination, but I can't help feeling that app only banking is just a huge gimmick and so intrinsically tied in with the social media generation. I do believe that you can phone Atom, but I don't know what their customer service is like.

Peelerfart

I have an atom account paying 1.9% for 12 months fixed.
Pleased with it. I recently changed my phone and tried to register my new device, got activation code now all I have to do is blink to activate it.

That was 2 weeks ago,my eyes hurt,. and still I can't access it. Not a big deal but very annoying

ValiantSon

Peelerfart wrote: »

I have an atom account paying 1.9% for 12 months fixed.
Pleased with it. I recently changed my phone and tried to register my new device, got activation code now all I have to do is blink to activate it.

That was 2 weeks ago,my eyes hurt,. and still I can't access it. Not a big deal but very annoying

I'm sure the rate is good and the company is fine.

Your post is adding to my view, however, that this is all gimmickry. "Blink to activate it"? !!!!!!!

I had a plastic moneybox when I was about seven which was designed to look like a safe and you had to turn the dials to enter the safe's combination and open it up. I thought it was brilliant. I was seven.

LHW99

I have had an aldermore (business) saving account for several years. Does what it says on the tin. No issues with opening it or using it on the website.
No experience with personal accounts, but I have been perfectly happy with the account / aldermore.

badger09

I've had accounts with Aldermore in the past and never had any problems whatsoever. When their rates are reasonable, I recommend them to my sister who will have nothing to do with online banking:(

I also have an account with Atom I'm reasonably tech savvy but have had problems logging in with face recognition. Not a huge issue with a fixed rate account, but irritating.

Long story short - if the rates are similar, I would go with Aldermore over an app only setup.