The Top Easy Access Savings Discussion Area

Bridlington1

ForumUser7 said:

flobbalobbalob said:

Tandem Bank. If someone knows your phone number and email... What prevents them from phoning Tandem to claim the phone is lost and to change the phone number to gain access to your account? 

Are there not any kind of security questions? Or a mobile app PIN? I suppose with most providers if there were not, that would be problematic, because you would just need to know name and DOB and address etc.

None whatsoever. Chip doesn't even require a OTP. 

chris_the_bee

Bridlington1 said:

ForumUser7 said:

flobbalobbalob said:

Tandem Bank. If someone knows your phone number and email... What prevents them from phoning Tandem to claim the phone is lost and to change the phone number to gain access to your account? 

Are there not any kind of security questions? Or a mobile app PIN? I suppose with most providers if there were not, that would be problematic, because you would just need to know name and DOB and address etc.

None whatsoever. Chip doesn't even require a OTP. 

Presumably, Tandem only transfers funds to a nominated account of the holder. No doubt there are many hurdles involved in changing this.

flobbalobbalob

chris_the_bee said:

Bridlington1 said:

ForumUser7 said:

flobbalobbalob said:

Tandem Bank. If someone knows your phone number and email... What prevents them from phoning Tandem to claim the phone is lost and to change the phone number to gain access to your account? 

Are there not any kind of security questions? Or a mobile app PIN? I suppose with most providers if there were not, that would be problematic, because you would just need to know name and DOB and address etc.

None whatsoever. Chip doesn't even require a OTP. 

Presumably, Tandem only transfers funds to a nominated account of the holder. No doubt there are many hurdles involved in changing this.

You can connect another account using open banking. Does open banking check anything on the new account?

Band7

flobbalobbalob said:

chris_the_bee said:

Bridlington1 said:

ForumUser7 said:

flobbalobbalob said:

Tandem Bank. If someone knows your phone number and email... What prevents them from phoning Tandem to claim the phone is lost and to change the phone number to gain access to your account? 

Are there not any kind of security questions? Or a mobile app PIN? I suppose with most providers if there were not, that would be problematic, because you would just need to know name and DOB and address etc.

None whatsoever. Chip doesn't even require a OTP. 

Presumably, Tandem only transfers funds to a nominated account of the holder. No doubt there are many hurdles involved in changing this.

You can connect another account using open banking. Does open banking check anything on the new account?

With OB, you can only connect to accounts in your own name

In addition, you have to log into the account you wish to connect, and approve the authorisation

flobbalobbalob

Thanks everyone for your help, very much appreciated.

OceanSound

phillw said:

flobbalobbalob said:

Tandem Bank. If someone knows your phone number and email... What prevents them from phoning Tandem to claim the phone is lost and to change the phone number to gain access to your account? Thanks

I'd expect as part of the recovery process, you'd get a text message & email from tandem informing you.

In general though, if you lose your phone then you will be able to get another phone and a replacement sim with the same number.

Yes, you could get a replacement SIM with the same number. However, customer could lose phone on Friday of a long bank holiday weekend and may not be able to get a replacement SIM until Tuesday. In this scenario, isn't the customer able to temporarily change their phone number to a replacement number (a bit like the replacement bus service that runs during weekends when there is work carried out on the rail lines. LOL)

Bridlington1 said:

ForumUser7 said:

flobbalobbalob said:

Tandem Bank. If someone knows your phone number and email... What prevents them from phoning Tandem to claim the phone is lost and to change the phone number to gain access to your account? 

Are there not any kind of security questions? Or a mobile app PIN? I suppose with most providers if there were not, that would be problematic, because you would just need to know name and DOB and address etc.

None whatsoever. Chip doesn't even require a OTP. 

Doesn't require an OTP to do what? to change phone number? In the scenario that a Chip customer has lost their phone (during a long bank holiday weekend) and want to temporarily change their phone number, it'll be pointless to send an OTP to the lost phone.

Are you saying that on contacting Chip support, they wouldn't bother asking any kind of security questions (more that DOB and address i might add) from the caller before changing their phone number? (because when you say 'Chip doesn't even require an OTP' that implies that they are slack on security) I highly doubt that!

Are you talking from personal experience btw?

flaneurs_lobster

OceanSound said:

Yes, you could get a replacement SIM with the same number. However, customer could lose phone on Friday of a long bank holiday weekend and may not be able to get a replacement SIM until Tuesday. In this scenario, isn't the customer able to temporarily change their phone number to a replacement number (a bit like the replacement bus service that runs during weekends when there is work carried out on the rail lines. LOL)

Don't think you'll get much joy from Chip over that weekend, their customer support is 8am to 8pm weekdays.

Personally I don't want a replacement sim supplied to anyone but me, in a store, with photo Id. And I certainly don't want Chip (or any other financial institution where I use their app) changing my mobile number temporarily or otherwise. 

Sudden need for emergency cash over a weekend? Credit card.

OceanSound

flaneurs_lobster said:

OceanSound said:

Yes, you could get a replacement SIM with the same number. However, customer could lose phone on Friday of a long bank holiday weekend and may not be able to get a replacement SIM until Tuesday. In this scenario, isn't the customer able to temporarily change their phone number to a replacement number (a bit like the replacement bus service that runs during weekends when there is work carried out on the rail lines. LOL)

Don't think you'll get much joy from Chip over that weekend, their customer support is 8am to 8pm weekdays.

Personally I don't want a replacement sim supplied to anyone but me, in a store, with photo Id. And I certainly don't want Chip (or any other financial institution where I use their app) changing my mobile number temporarily or otherwise. 

Sudden need for emergency cash over a weekend? Credit card.

Some misunderstanding I believe. Where in my post have I said I'd want the SIM to be supplied to someone other than me?

Also, there may be other legitimate reasons why a customer would want their phone number changed (besides losing their phone). In those circumstances, the customer would be within their right to request the bank or fintech to change their phone number. The bank or fintech would then need to change it (after confirming the customers ID). This would need to happen in a temporary situation or otherwise. I realise that you're expressing how you feel personally about this. Perhaps due to never changing your phone number in the past. But as we are well aware past performance is no indication of future performance. LOL

 Chip over that weekend, their customer support is 8am to 8pm weekdays.

Are you sure ? some places like Metro bank say this but they have a skeletal service running the lost/stolen cards department who will assist with any other emergency too. I suppose Chip doesn't provide debit cards so, they don't need to run a telephone support line over weekends and bank holidays too. 

Sudden need for emergency cash over a weekend? Credit card.

this only applies to those with credit cards!

p.s. Could's help but notice that this is not the first time you've answered a post from me where I've been replying to the forumite with name of Yorkshire coastal resort. Is there something we should know about? LOL, or is it coincidence?

chris_the_bee

Kent Reliance

Email received re Easy Access Account (48) "We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 April 2023 – you don’t need to do anything. All other terms and conditions of your account remain the same."

Middle_of_the_Road

chris_the_bee said:

Kent Reliance

Email received re Easy Access Account (48) "We’re pleased to confirm we’re increasing the variable interest rate on your savings account by 0.25% AER*, to match the recent Bank of England Base Rate increase.

Your rate will increase automatically on 18 April 2023 – you don’t need to do anything. All other terms and conditions of your account remain the same."

I'm thinking if it's worth opening their current version (55) hoping that will also be increased.
Does anyone have experience of them raising the latest version along with the previous issues?