The Top Easy Access Savings Discussion Area

patpalloon

Bridlington1 said:

BestSeagull 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.

It must just be me then!

I don't think it's just you. I think a lot of people are sceptical of app based banking for similar reasons to why many were skeptical of online banking when it first came about.

Personally whilst I'm comfortable using an app only bank, I'm still not the biggest fan of app only banking largely because with online banking if my smartphone breaks, I can still log into online banking through my laptop whilst I get a replacement, with app only I'd have to source a new phone before I could access my money. Also if a new version of the app comes out that isn't compatible with my smartphone I will run into issues. I also type much quicker on a laptop than I do on a phone, so I usually find using any sort of webchat much quicker if it is an online webchat rather than an app based webchat, but this is just personal preference really.

I'll still quite happily use an app only bank and have been using the likes of Chip and Tandem for a number of months, but I do still prefer to have the option of online banking as a failsafe option if possible.

You could access app through tablet if anything were to happen to your phone.

PixelPound

Coventry BS are increasing their rates by upto 0.3% 

Four Access Saver (Online) and Four Access Saver (Online) (2) are going to 4.80% on 14 Aug. So anyone thinking of using one of their withdrawal slots, might not need to. 

friolento

nic_c said:

Coventry BS are increasing their rates by upto 0.3% 

Four Access Saver (Online) and Four Access Saver (Online) (2) are going to 4.80% on 14 Aug. So anyone thinking of using one of their withdrawal slots, might not need to. 

I pulled out all but £1 from the 4 access saver. For me, 4.8% with limited access can't compete with unlimited access at 5%.

kitkat68

I’ve ditched Raisin and opened Tandem easy access and atom fixed saver…which my ISAs were better but I fixed them in Feb when 3.75% was good

someone

boingy said:

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...

With phone SIMs it is best to avoid guessing and instead looking up the default for the network operator. They tend to all be very simple 0000, 1111, 5555, 1234 etc. but depending on the SIM card you might end up with a locked SIM. In fact Apple warn very clearly "Don't try to guess your SIM PIN. The wrong guess can lock your SIM card permanently, meaning you would need a new SIM card." https://support.apple.com/en-gb/HT201529

SAC2334

Wheres_My_Cashback said:

BestSeagull said:

gt94sss2 said:

BestSeagull said:

Trying to pay into Tandem from Santander, the transaction was blocked and they've locked me out of online banking and the app. 
Test transfer went through, then £5k payment but was shut down trying to make another payment.

For info - You can make individual payments of up to 25k from the Santander app - so the £5k payment could have been larger reducing the number of transactions.

Thanks. So I would have been better sending £10k in the first place? I thought smaller transactions might be less likely to be blocked... not so.
I'm up and running again now but that's the best part of two hours of my life that I won't get back again.

Small test payments immediately followed by large payments can trigger fraud sensors as it's the type of thing scammers would do to test an account.

I made a £25K first payment to Tandem yesterday from Santander as a new payee via the app. There were about a dozen security Qs to answer, but all went through OK.

Santander have only blocked me once on my rate chasing journey the last few years where I did just that  making a few small payments up to £1000 then some big ones of up to £20k which triggered a  block and a chat with a nice bloke from Liverpool who went through the usual checks . He advised me to stick to Open Banking if possible as it was a fairly new thing with Santander and now less likely to trigger a block . 
I have had prob six changes of banks moving my funds around since then with no blocks at all .They seem to have worked out what my game is and leave me alone now touch wood 

jaceyboy

I guess Chip are out of the top for good?

Stargunner

jaceyboy said:

I guess Chip are out of the top for good?

I hope not, because I much prefer using their app compared to the Tandem app and payments in and out of Chip are immediate .

SAC2334

jaceyboy said:

I guess Chip are out of the top for good?

They have till Friday with me . 14 th in the league is no good 

dgpur

SAC2334 said:

jaceyboy said:

I guess Chip are out of the top for good?

They have till Friday with me . 14 th in the league is no good 

People were saying the same sort of thing about Tandem, look how that turned out.