The Top Easy Access Savings Discussion Area

soulsaver

***NLA***  Oxbury EA 4.94% £1k min (29/08) https://www.oxbury.com/personal-easy-access-account-eap001 ***NLA 01/09***

KevinG

friolento said:

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

The code gets sent to the mobile you have registered and are using at the time you want to log into Tandem. What would you gain from having to manually check your message inbox, remembering the code and then manually entering it into Tandem? Or to ask the question in a different way: what do you consider the security exposure when the code is autofilled?

Exactly what I was thinking, there is no security risk whatsoever, it is just more convenient.

masonic

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

I've had this feature since installing the App in 2019. If you don't have the app installed on the same device you use to receive text messages, then it won't offer to autofill. If someone is able to SIM swap your phone number to their device, then they will be able to access your Tandem account with or without autofill. What they won't be able to do is access your money. For that they will also need to be able to open a current account in your name.

sheffieldeagle

SAC2334 said:

sheffieldeagle said:

grumbler said:

liamcov said:

SirHugo said:

BestSeagull said:

SirHugo said:

BestSeagull said:

janusdesign said:

castle96 said:

Just to confirm - no£3 fee ... TRUE?if I dont bother with cashback, etc. Just want to bung £4k in there

just chatted with Santander...

14:00, Aug 17 - Sarah: The fee is applied after the conditions of the account are met for the first time.
14:01, Aug 17 - You: so if I never use the current account, there is no fee? also, is there a hard credit check done on an application for the current account ??
14:01, Aug 17 - Sarah: That's correct There is, yes

i'm not sure that I can be bothered to apply for a current account that i'm never going to use, just to access a savings account that lasts for a year for £280 in interest - i'll likely wait until there is a switch offer and then use one of my other unused current accounts for that.

I don't think I'm going to bother with this one either, too many hoops.
 And when you think about it, we're not  missing out on £280. Just on the 2% difference between Tandem at 5% and Santander at 7% so that's what, £80. Less if rates continue to rise.

No hoops - less than 10 mins to open the account, opening the Edge saver was immediate, put the 4k in and that's that.

Probably won't use the account but good to have an extra fee free card for abroad. At the end of the day it's a nice little burner account for when the next switch offer comes around that I'm eligible for. I just switched my Santander Everyday account last month.

What about the £3 fee though, and this from MSE? 

"To get it, you need a Santander Edge current account – a bills cashback account with a £3 monthly fee. And to keep the current account you must deposit at least £500 a month and have two or more active direct debits."

If you have a look through the last several pages of this thread you'll see that you don't have to fulfil the criteria you mentioned - it's only needed to activate the cashback element of the account. If you don't set up two direct debits - or pay in the £500 a month - then the £3 fee never kicks in.

The comments about this started around the morning of the 15th August.

Does this work as I also have a San Lite? Can you have both current accounts at the same time?

I have both - joint Edge and sole Lite.

Hi

Anyone have both as sole accounts? I was thinking of applying for the Edge to get the saver at 7%.

Cheers

I have a Santander Everyday current account , no charges , no cash back .I also have the Edge saver with £4k in it, funded from the Everyday Account  and its showing 6.78 % interest when I check. 

This could be a Santander glitch but I hope they honour it, if not I will switch back  to the Edge current account and try and get enough cashback to justify the bank charges.

So you had an Edge account and then downgraded?

Cheers

grumbler

KevinG said:

friolento said:

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

The code gets sent to the mobile you have registered and are using at the time you want to log into Tandem. What would you gain from having to manually check your message inbox, remembering the code and then manually entering it into Tandem? Or to ask the question in a different way: what do you consider the security exposure when the code is autofilled?

Exactly what I was thinking, there is no security risk whatsoever, it is just more convenient.

IMO, it's just pointless. Most people have the app and the SIM in the same phone. Only those few who don't have them in the same phone benefit from some extra security from the code.

grumbler

sheffieldeagle said:

SAC2334 said:

sheffieldeagle said:

grumbler said:

liamcov said:

SirHugo said:

BestSeagull said:

SirHugo said:

BestSeagull said:

janusdesign said:

castle96 said:

Just to confirm - no£3 fee ... TRUE?if I dont bother with cashback, etc. Just want to bung £4k in there

just chatted with Santander...

14:00, Aug 17 - Sarah: The fee is applied after the conditions of the account are met for the first time.
14:01, Aug 17 - You: so if I never use the current account, there is no fee? also, is there a hard credit check done on an application for the current account ??
14:01, Aug 17 - Sarah: That's correct There is, yes

i'm not sure that I can be bothered to apply for a current account that i'm never going to use, just to access a savings account that lasts for a year for £280 in interest - i'll likely wait until there is a switch offer and then use one of my other unused current accounts for that.

I don't think I'm going to bother with this one either, too many hoops.
 And when you think about it, we're not  missing out on £280. Just on the 2% difference between Tandem at 5% and Santander at 7% so that's what, £80. Less if rates continue to rise.

No hoops - less than 10 mins to open the account, opening the Edge saver was immediate, put the 4k in and that's that.

Probably won't use the account but good to have an extra fee free card for abroad. At the end of the day it's a nice little burner account for when the next switch offer comes around that I'm eligible for. I just switched my Santander Everyday account last month.

What about the £3 fee though, and this from MSE? 

"To get it, you need a Santander Edge current account – a bills cashback account with a £3 monthly fee. And to keep the current account you must deposit at least £500 a month and have two or more active direct debits."

If you have a look through the last several pages of this thread you'll see that you don't have to fulfil the criteria you mentioned - it's only needed to activate the cashback element of the account. If you don't set up two direct debits - or pay in the £500 a month - then the £3 fee never kicks in.

The comments about this started around the morning of the 15th August.

Does this work as I also have a San Lite? Can you have both current accounts at the same time?

I have both - joint Edge and sole Lite.

Hi

Anyone have both as sole accounts? I was thinking of applying for the Edge to get the saver at 7%.

Cheers

I have a Santander Everyday current account , no charges , no cash back .I also have the Edge saver with £4k in it, funded from the Everyday Account  and its showing 6.78 % interest when I check. 

This could be a Santander glitch but I hope they honour it, if not I will switch back  to the Edge current account and try and get enough cashback to justify the bank charges.

So you had an Edge account and then downgraded?

Cheers

Yes, he did, but it made sense to take the risk if, for some reason, he didn't want to have Edge as a second, almost unused, account along with them main one.

masonic

grumbler said:

KevinG said:

friolento said:

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

The code gets sent to the mobile you have registered and are using at the time you want to log into Tandem. What would you gain from having to manually check your message inbox, remembering the code and then manually entering it into Tandem? Or to ask the question in a different way: what do you consider the security exposure when the code is autofilled?

Exactly what I was thinking, there is no security risk whatsoever, it is just more convenient.

IMO, it's just pointless. Most people have the app and the SIM in the same phone. Only those few who don't have them in the same phone benefit from some extra security from the code.

The code stops everyone who knows your phone number from being able to install the app on their device and to find out your balance, etc. If they didn't send a code during login, that would be a serious problem. As it is possible to be logged in on multiple devices, and there is no way of finding out about other logged in devices, people could be snooped on without their knowledge.

jaypers

People who don’t PIN lock their SIM are the ones at potential risk as anyone who gains access to the phone can just remove the SIM, put into a new phone and then have access to that phone number, including text messages and subsequently OTPs. This is a common fraud. Setting up a PIN adds a layer of protection against this. 

grumbler

masonic said:

grumbler said:

KevinG said:

friolento said:

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

The code gets sent to the mobile you have registered and are using at the time you want to log into Tandem. What would you gain from having to manually check your message inbox, remembering the code and then manually entering it into Tandem? Or to ask the question in a different way: what do you consider the security exposure when the code is autofilled?

Exactly what I was thinking, there is no security risk whatsoever, it is just more convenient.

IMO, it's just pointless. Most people have the app and the SIM in the same phone. Only those few who don't have them in the same phone benefit from some extra security from the code.

The code stops everyone who knows your phone number from being able to install the app on their device and to find out your balance, etc. If they didn't send a code during login, that would be a serious problem. As it is possible to be logged in on multiple devices, and there is no way of finding out about other logged in devices, people could be snooped on without their knowledge.

True, but any thief can do this if your SIM isn't PIN-locked. To me it looks more than 0.5FA rather then common 2FA (or 1FA sometimes for logging in).

masonic

grumbler said:

masonic said:

grumbler said:

KevinG said:

friolento said:

jak22 said:

There have been grumbles about no PIN on the Tandem app - with access knowing the phone number is enough to get a code. After the latest update the phone now 'helpfully' offers to autofill that. This maybe OS dependent and prob uses the number from the SIM which doesn't update after porting so it's not even a good system. Autofill isn't really the direction we might want banking apps to be taking.

The code gets sent to the mobile you have registered and are using at the time you want to log into Tandem. What would you gain from having to manually check your message inbox, remembering the code and then manually entering it into Tandem? Or to ask the question in a different way: what do you consider the security exposure when the code is autofilled?

Exactly what I was thinking, there is no security risk whatsoever, it is just more convenient.

IMO, it's just pointless. Most people have the app and the SIM in the same phone. Only those few who don't have them in the same phone benefit from some extra security from the code.

The code stops everyone who knows your phone number from being able to install the app on their device and to find out your balance, etc. If they didn't send a code during login, that would be a serious problem. As it is possible to be logged in on multiple devices, and there is no way of finding out about other logged in devices, people could be snooped on without their knowledge.

True, but any thief can do this if your SIM isn't PIN-locked. To me it looks more than 0.5FA rather then common 2FA (or 1FA sometimes for logging in).

Indeed. I'm not defending the use of a SMS as the only form of authentication. I agree it's weaker than only requiring a strong password. It relies on you physically securing your device from others at all times, which for most people isn't practical. But having nothing would be much worse.

As well as a SIM PIN, people need to ensure that the content of SMS messages isn't displayed on their lockscreen, which is not usually the case by default.