Question regarding Atom Bank

stevec59

I've just received notification that my NS&I ISA is dropping from 1% to 0.75%, I've been thinking about putting it in Atom for a while, I was hoaping that interest rates would go up.
Anyway, it looks like Atom is Only App based, no web access, is that correct?
So, if it's only App based and my IPad no longer gets Apple OS updates, will it be safe to use? If I could use a web page then I'd do that on my laptop.

Many thanks

Steve

geoffers4

I have an account with Atom - have used the app on both android and apple phones, so maybe the phone app would be your best bet. I can't comment on how safe/unsafe an old Ipad might be.

ValiantSon

I wouldn't be comfortable using the app on an iPad that is no longer supported by Apple and which, therefore, cannot update the OS.

If you have a smartphone that is up to date then use that instead.

stevec59

Unfortunately my IPhone is already out of date, so I use it for basic functions, I might get a newer one next year, so I guess I could swap from one to the other

Thanks

Steve

Alexland

I struggle to understand the supposed efficiency saving of being an app-only bank. You have all the costs of developing both the client application (for multiple platforms and OS versions) and server back end. Its so much simpler to just have a good website that renders well on mobile devices. I'm avoiding Atom and my prediction is that they will either change or fail to reach their potential.

18cc

Well you are right in some ways eg making payments viewing transactions etc - these could be done just as well on the desktop as in an app

however when it comes to applying for an account, security etc - atom uses things like voice ID and facial recognition which perhaps are not quite so easy to implement on a desktop

well they can be implemented of course but perhaps not quite so easy to use as on a phone

Also an app generally (being a Walled Garden) s much more secure than a desktop and browser

Ocelot

I have 2 savings accounts on my phone with them (android), and I never normally do anything internet-related on my phone. Would recommend this route.

You can log in using facial recognition (doesn't always work), a passcode or your voice. They have a helpdesk if you have issues.

surreysaver

Ocelot wrote: »

You can log in using facial recognition (doesn't always work), a passcode or your voice. They have a helpdesk if you have issues.

I've been having problems with the app, and I had to uninstall and reinstall it three times, and had to wait 20 minutes for a security code twice, the first time because on the three attempts it didn't recognise my face. On the fifth attempt it did recognise my face, but I was walking down the hall to try and get a better background, so wasn't even aiming the phone at my face when the security of the app decided to let me through!
I did ring up the support number, but they were next to useless, blaming my internet connection when there was nothing wrong with it.

Peelerfart

I've just entered my second year with atom with a
fixed one year saver I rolled over.

The app is not brilliant I have to agree but I've rarely needed to use it on a fixed rate account.
Once your past the facial recognition bit, which isn't easy, you can then change it to recognise a six digit number.

That is much better and makes the whole process smooth.
FYI I am using a relatively modern android phone for this, it won't work on my, relatively modern android tablet though.

Zero_Sum

Its for that reason i wouldnt touch them with a barge poll. Having had complications with out of date apps & lack of storage space, i could be left in the position that i'd need to buy a new device just to access my money. And like Alex, i just cant see the logic in being app only with no backup website.

JGal

Alexland wrote: »

I struggle to understand the supposed efficiency saving of being an app-only bank. You have all the costs of developing both the client application (for multiple platforms and OS versions) and server back end. Its so much simpler to just have a good website that renders well on mobile devices. I'm avoiding Atom and my prediction is that they will either change or fail to reach their potential.

Reading a FT article from July which says they paid out £5.6m more in interest payments to savers than received from borrowers with deposits of £1.4bn, and pre-tax losses increased from £42m to £53m and suggests a future possible takeover by Spanish bank BBVA.


Does make you wonder how it will become profitable.