The Top Easy Access Savings Discussion Area

PixelPound

csw5780 said:

pecunianonolet said:

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!

Re: contactless - you don’t even need a card reader anymore. Apple iphones and most androids can now “accept contactless” with an appropriate app!

You can get purses/wallets or even card sleeves that block the NFC signal. So if that's a concern it can be countered.

PixelPound

housebuyer143 said:

How do I check the rate I am getting at Newcastle on the app? It just links me to the website and a savings pdf from July. I want to ensure the rate has now increased with base rate rise.

The savings PDF seems to have June & July's rates rather than Augusts.

If you log into the website, rather than just use the app, and click on interest statement it shows the interest rate. Though it does say

Interest Rate (gross pa):4.30% (Rate guarantee: bank base rate view here - 0.70%)

Middle_Sister

BestSeagull said:

Tandem... OK, I'm going to go for it. Wish me luck!

You'll be fine

2010

From NBS tracker T& C.

When the Bank of England Base Rate changes, the new interest rate on your account will apply no more than 5 working days after the change is effective. We will not provide notice of this in writing, new rates will be displayed in our branches and on our website, newcastle.co.uk.

Zopa_Trooper

UVRay said:

flaneurs_lobster said:

UVRay said:

The worry I have with the Tandem/Chip apps is that they seem to have no security other than the possession of the SIM of the mobile number associated with the account. So all this discussion about phone security is irrelevant if a thief can simply put the SIM in a new phone and get access to your accounts using freshly installed apps on that phone?

The app for my main bank account is locked to the phone & would require access to that phone (or a call to customer services) to move it. However Tandem & Chip don't seem to have this security (or am I wrong about this)?

Maybe they have added security around setting up a new linked account to transfer your money out to, but this isn't obvious with the ease with which I set up my linked account (only security was on the other end within the linked account app).

Lock the SIM with a PIN code.

Yes, very good advice (which the apps should strongly encourage you to do if it is not possible to enforce). It's not something I had previously thought worth bothering with, and I would guess it's not something most people do?

PSA: If like me you just went to set a PIN and it asks for the current PIN, don't worry you are not suffering from dementia and have forgotten that you previously set one but can't remember it. For O2 at least, SIMs have a default PIN of 0000 which you will need to enter before setting up your own. The new PIN does not have to be just 4 digits either.

Thanks for that. Turns out Vodaphone are 0000 too. 

boingy

Zopa_Trooper said:

UVRay said:

flaneurs_lobster said:

UVRay said:

The worry I have with the Tandem/Chip apps is that they seem to have no security other than the possession of the SIM of the mobile number associated with the account. So all this discussion about phone security is irrelevant if a thief can simply put the SIM in a new phone and get access to your accounts using freshly installed apps on that phone?

The app for my main bank account is locked to the phone & would require access to that phone (or a call to customer services) to move it. However Tandem & Chip don't seem to have this security (or am I wrong about this)?

Maybe they have added security around setting up a new linked account to transfer your money out to, but this isn't obvious with the ease with which I set up my linked account (only security was on the other end within the linked account app).

Lock the SIM with a PIN code.

Yes, very good advice (which the apps should strongly encourage you to do if it is not possible to enforce). It's not something I had previously thought worth bothering with, and I would guess it's not something most people do?

PSA: If like me you just went to set a PIN and it asks for the current PIN, don't worry you are not suffering from dementia and have forgotten that you previously set one but can't remember it. For O2 at least, SIMs have a default PIN of 0000 which you will need to enter before setting up your own. The new PIN does not have to be just 4 digits either.

Thanks for that. Turns out Vodaphone are 0000 too. 

Always worth trying 0000 and 1111 for any default code, be it a SIM or a TV, PVR etc. I think one of ours defaulted to 9999.
I can't believe I've just published all my secret PIN numbers on a public forum. Next you'll be wanting my mother's maiden name and the name of my first pet...

Yellowman

Why does Tandem offer a bonus rate (0.35%) on top of its 'main rate' (4.65%)?

Why not just offer a rate of £5.00%?

TiVo_Lad

Google is your friend...

https://www.tandem.co.uk/newsroom/tandem-rewards-savings-customers-with-top-up-launch

jimexbox

Yellowman said:

Why does Tandem offer a bonus rate (0.35%) on top of its 'main rate' (4.65%)?

Why not just offer a rate of £5.00%?

So it can lapse (if they want) without all their customers kicking off. 

Bridlington1

jimexbox said:

Yellowman said:

Why does Tandem offer a bonus rate (0.35%) on top of its 'main rate' (4.65%)?

Why not just offer a rate of £5.00%?

So it can lapse (if they want) without all their customers kicking off. 

Also if my memory serves me well when I set the account up (late last year) I had to opt in to get the bonus. If this is still the case now I would imagine many won't have bothered to opt in so less people will be getting paid the full 5%.