The Top Easy Access Savings Discussion Area

Futuristic

Futuristic said:

From Chip VIP FB group, they state they will increase rate to 3.55% tomorrow 

Guess they saw a lot of outflow, email sent out to everyone now 

We always aim to keep the Chip Instant Access Account rate highly competitive.
So, we’re springing back to the top of the easy-access savings tables in time for the long weekend and raising our rate to 3.55% AER (3.49% gross variable, paid monthly).
This new higher rate will be effective from tomorrow (5 April 2023) and you can check it out in your app from tomorrow morning.

Middle_of_the_Road

Steve_xx said:

ToastLady said:

Steve_xx said:

bertsilver said:

Problem I have with Tandem is to log in to the app you have to put your mobile number in to receive a text to log in to my account, or am I doing something wrong?  

That's how it works for me too. It's a bit concerning as the text arrives on the same device as the app. Which makes me wonder about security. Although I do have to unlock the Tandem app with a fingerprint.

Yes, that's the way it works for me too. Make sure that you have notifications off on locked screen for security, just to be on the safe side. Can't use fingerprint due to eczema on hands, it never works for me, so have given up.

I'm becoming increasingly concerned about the security of these banking apps. So much so that I am minded to buy another mobile phone for which to use for banking only. I am uneasy about having a device with banking apps on it out and about with me just in case I should put it down somewhere. So I am minded to have a phone that I can leave at home and this would contain all of the banking apps.

This is the only reason I recently bought a smartphone. ie, to enable the use of banking apps. It's not used for any other purpose. No device is ever going to be 100% secure, and I am not convinced unauthorised  biometric unlocking is impossible.

RedImp_2

RG2015 said:

RedImp_2 said:

2010 said:

Even after today`s increases by Nwide along with Marcus, they are still the back markers by at least .25%.
NW flex saver hasn`t moved and is still stuck at 2.25%.

Has Marcus increased rates?

22 March, increased from 2.80% to 3.00% AER including 0.25% bonus.

Ah okay knew that, I read it as they had increased today (when you wrote)

jak22

The Tandem app login method isnt really the best. If you dont have biometrics it doesnt default to a PIN like others and entering the mobile number every time is more inconvenient and its just the number for that phone anyway. 

grumbler

flobbalobbalob said:

grumbler said:

Steve_xx said:

bertsilver said:

Problem I have with Tandem is to log in to the app you have to put your mobile number in to receive a text to log in to my account, or am I doing something wrong?  

That's how it works for me too. It's a bit concerning as the text arrives on the same device as the app. Which makes me wonder about security.

Does this make any sense at all to anybody?

If the text can be sent only to the registered number, why do they ask to enter the number?

If it can be sent to any number what's the point in sending it?

You can use the app on any device. The text goes to the registered phone.

That was my point. On my phone it doesn't ask my ID, i.e. the app is linked only to my account. My wife wouldn't be able to use it for hers if she wanted.

The phone number is registered - what's the point in asking me to enter it? All banks send OTPs to a registered number without asking to enter the number.

Kazza242

Steve_xx said:

Kazza242 said:

Steve_xx said:

cogrady84 said:

I moved my savings to Zopa from Tandem literally this morning and locked into a boosted pot, then Tandem announced the increase... is there anything I can do or am I completely stuck with the boosted pot for 31 days? No way to close the pot and just lose the interest?

I can't see an option to boost with Tandem? Though I can options to fix for a year or more.

Under Instant Access Savings, the option to top-up was on the green bar underneath.  I have just applied it to my Tandem account.  

Ah yes, I noticed that. The OP mentioned "boosted pot" as though you could set aside a specific amount in a pot for a period of a week or more, in return for a higher rate. This Tandem account is easy access, ie not subject to any restrictions on withdrawals.

I think that cogrady84 was referring to the Zopa boosted pots. They wrote that they had moved savings from Tandem to Zopa and then locked into a boosted pot.  

grumbler

k_man said:

grumbler said:

Steve_xx said:

bertsilver said:

Problem I have with Tandem is to log in to the app you have to put your mobile number in to receive a text to log in to my account, or am I doing something wrong?  

That's how it works for me too. It's a bit concerning as the text arrives on the same device as the app. Which makes me wonder about security.

Does this make any sense at all to anybody?

If the text can be sent only to the registered number, why do they ask to enter the number?

If it can be sent to any number what's the point in sending it?

The mobile number is effectively your username.
They ask you to enter it, in the same way as other apps ask for your username.

This makes sense, but why am I asked to unlock it with my fingerprint first, before entering the number (= my username)?

ChilliBob

I do think Tandem is a bit odd, I put in my mobile number, a text is sent eith the otp but the app then automatically fills in the otp as it reads from messages. So, basically, just knowing my phone number gets you in. 

I too am tempted to have a separate phone for stuff like that - obvs you need some every day stuff on your main phone, like say chase etc but do I really need Atom on there for fixes etc! 

AndyTh_2

It'd be worth someone checking if email address and phone number was enough from scratch on a phone (it might be more complex than that as apps can store a device key they use to additionally verify, unlocked via that biometric check).

If it's just email/SIM check with no device key, then its hugely vulnerable to SIM swap fraud

k_man

grumbler said:

k_man said:

grumbler said:

Steve_xx said:

bertsilver said:

Problem I have with Tandem is to log in to the app you have to put your mobile number in to receive a text to log in to my account, or am I doing something wrong?  

That's how it works for me too. It's a bit concerning as the text arrives on the same device as the app. Which makes me wonder about security.

Does this make any sense at all to anybody?

If the text can be sent only to the registered number, why do they ask to enter the number?

If it can be sent to any number what's the point in sending it?

The mobile number is effectively your username.
They ask you to enter it, in the same way as other apps ask for your username.

This makes sense, but why am I asked to unlock it with my fingerprint first, before entering the number (= my username)?

AIUI, the fingerprint locks the app itself, rather than the account. So once enabled, fingerprint access is an extra layer.

ChilliBob said:

I do think Tandem is a bit odd, I put in my mobile number, a text is sent eith the otp but the app then automatically fills in the otp as it reads from messages. So, basically, just knowing my phone number gets you in. 

I too am tempted to have a separate phone for stuff like that - obvs you need some every day stuff on your main phone, like say chase etc but do I really need Atom on there for fixes etc! 

 Not just knowing your number, but also having access to SMS sent to it, e.g. by having access to your unlocked mobile, in which case there are many other risks (lots of apps let you straight in, e.g. email.apps, which are the backup/recovery for many other logins)

 WhatsApp behaves the same as does Chip IIRC

AndyTh_2 said:

It'd be worth someone checking if email address and phone number was enough from scratch on a phone (it might be more complex than that as apps can store a device key they use to additionally verify, unlocked via that biometric check).

If it's just email/SIM check with no device key, then its hugely vulnerable to SIM swap fraud

Even if someone gained access to your Tandem account, the worst they could do is transfer money to your nominated account.
Adding a new connected account needs authenticated access to that bank

However we are digressing, and at risk of being accused of being off topic!