The Top Easy Access Savings Discussion Area

PixelPound

happybagger said:

Stargunner said:

BestSeagull said:

Zopa_Trooper said:

I'm wondering whether anybody else will bother challenging Tandem now. The BoE bank raise was 0.25%, anybody exceeding Tandem is going to have to raise their rate by nearly 0.5%. A step too far?

I think there are going to be a huge amount of people, even those who are rate chasers, who are not comfortable with App only banking. So the field is still wide open for the rest.

Why would people not be comfortable with app only banking. 

I prefer it, as it makes logging in far easier, especially with face recognition.

As I use cash for the vast majority of purchases, for those top app-only bank accounts, do they enable you to draw cash out? Genuine question as I haven't looked at them.

You do realise this is a savings thread? 

However such as chase current account you get a bank card that works fine in an ATM. 

phillw

SickGroove said:

Taking 11K from Chip & putting it into Tandem once the new rate shows for me...

I usually transfer into Tandem via bank transfer but would it be quicker via open banking? It states on Tandem app that open banking best for smaller deposits...is 11K small?

Trying to move around that amount via Halifax gave a weird error "you must select one", but a lower amount worked.

soulsaver

nic_c said:

happybagger said:

Stargunner said:

BestSeagull said:

Zopa_Trooper said:

I'm wondering whether anybody else will bother challenging Tandem now. The BoE bank raise was 0.25%, anybody exceeding Tandem is going to have to raise their rate by nearly 0.5%. A step too far?

I think there are going to be a huge amount of people, even those who are rate chasers, who are not comfortable with App only banking. So the field is still wide open for the rest.

Why would people not be comfortable with app only banking. 

I prefer it, as it makes logging in far easier, especially with face recognition.

As I use cash for the vast majority of purchases, for those top app-only bank accounts, do they enable you to draw cash out? Genuine question as I haven't looked at them.

You do realise this is a savings thread? 

Well if s/he doesn't, s/he's clearly not alone.. 

phillw

cwep2 said:

Has anyone else who has withdrawn money from Chip seen this?

You will get this the first time you withdraw the full amount, since the change from bonus to interest.
If chip respond and you go back, then it won't happen in future.

It happened to me when I switched to Tandem last time, but not this time.

The Tandem app is annoying compared to chip, but the number of times a month I use it then it's worth the extra hassle.

happybagger

nic_c said:

happybagger said:

Stargunner said:

BestSeagull said:

Zopa_Trooper said:

I'm wondering whether anybody else will bother challenging Tandem now. The BoE bank raise was 0.25%, anybody exceeding Tandem is going to have to raise their rate by nearly 0.5%. A step too far?

I think there are going to be a huge amount of people, even those who are rate chasers, who are not comfortable with App only banking. So the field is still wide open for the rest.

Why would people not be comfortable with app only banking. 

I prefer it, as it makes logging in far easier, especially with face recognition.

As I use cash for the vast majority of purchases, for those top app-only bank accounts, do they enable you to draw cash out? Genuine question as I haven't looked at them.

You do realise this is a savings thread? 

However such as chase current account you get a bank card that works fine in an ATM. 

Thanks you for your reply regarding Chase, and for your attempt at thread policing. Yes I realise this is a thread on easy access savings (which can also include current accounts where necessary, like NW Flex, due to it being instant access and top rate, unlike the continual postings on here "come on chip I'm waiting" when those accounts are not "top")

However you will notice I responded to a post by @Stargunner which referred to "app-only banking".

I wonder if you plan to jump on every single post you think might be slightly away from your predetermined boundaries? Or just mine?

razord

Just a note for those who get a little scared like I did last night moving to Tandem:

Starling held the payment for the additional security questions, which is fine (and right) - but, the tandem app timed it out because of the additional time that answering those questions took. So, after I answered the questions and starling then actioned the transactions, going back to Tandem said "Your transfer failed" (or similar)

You can safely ignore that, and the deposit will still arrive within 20 minutes or so!

mobfant

Zopa_Trooper said:

I think people worry a bit too much. All my apps are fingerprint, voice or face operated so if someone pinches my phone, they'd better cut off my finger (which one?), mimic my accent or be my identical twin.

Seriously, it's a lot of hassle for myself sending money to a new recipient, god knows how a thief is going to handle it.

There are certain countries I travel to where I uninstall banking / important apps precisely so that if i am mugged, they can't use Face ID to force me to open them and transfer cash. But in the UK i'm chilled about it.

jaceyboy

My Tandem rate just changed to 5% now👍🏻

Bigwheels1111

They must be doing the rate update in batches.

Mine has just gone to 5%.

pecunianonolet

Did we not have the same discussion who prefers app only, online only, a combination of both, etc. only a few weeks back which turned into a 10-20 page Chip discussion after?

Concerned about your phone getting lost or stolen? Get a cheap second hand phone and keep at home only. Make sure you not get burgled either.

Online customer? Is your computer, laptop, tablet, or even phone, free of any malware, spyware, viruses, keylogger, tracking cookies, etc? Are you using a specific browser for banking login only and always delete all cached data, cookies?

Two factor authentication and biometrics enabled wherever possible? 

Are you using for any account a different password, memorable words, phrases, pins, etc. which are totally random, without any connection or traceability to you? For those with many accounts of 20+, can you remember them all or do you write it down somewhere?

Phones and laptops can be encrypted, e.g. Bitlocker. On Android you can install banking apps into a secure folder and have it locked on top of the normal phone login and the apps in this folder are not easily visible as being installed.

Remote location tracking enabled so in case phone is lost or stolen you have a chance to track current or last location and lock remotely or even wipe it?

While we're on it, please disable contactless on each and every card you use. As it is near field technology, all I need is a small card machine and walk around in a busy environment, e.g. bus, train, tram, city centre and I just need to hold the machine near enough to your wallet / pocket to get cash transferred. 

Don't see this as criticism, as we have to look carefully after our funds and it is good to have a discussion about it but perhaps a separate "How to secure my digital banking access best" thread might be a better place instead of having the same debate over and over again. 

P.S. I myself could be much more creative with my passwords, pins, etc. and I know that I could reduce this risk further but for me it's a calculated risk and I am aware of it.

Thanks for your understanding!