Tandem

ab56

Has anyone had experience of fixed rate bonds with Tandem? 
Is downloading an app (on a mobile phone) a necessity?  Tried to telephone Tandem yesterday but gave up waiting!  Thank you in advance.

bowlhead99

All their services are designed to be used via the app - and the FAQ mentions that to be able to see your account balance you need it.
I see they have recently offered higher rates for the 1 year account (above the 0.6%) if you're willing to sign up to their beta waitlist and create the account in a short timeframe after they send you an invite.

wiseonesomeofthetime

I think it is similar to Atom.

App-based fixed term saver products.

No app, no way to view your balance, etc.

Prism

I have had 3 fixed rate bonds with them. All opened off the website and then you use the app to view the accounts. However there is nothing to view really so if you never actually installed the app then you would still get a letter to confirm purchase and another to confirm maturity and yearly interest payment. I rarely open the app.

BarGin

I opened a Fixed Saver account yesterday when the interest rate was 1.3%. I funded it today with a substantial (for me) sum. I notice they have now reduced the rate. I assume I will get the rate applicable when I opened the account? Also, I have downloaded the app but can't see any reference to my account within. Any words of comfort please?

wiseonesomeofthetime

Yeah new rate for 1 year is 0.60%, considerably lower, so I hope you get the rate you opened at.

You should do.

cash-strapped

Having read the comments here I may have reacted hastily. I too opened a fixed rate account because of the "good" rate that was spotlighted by MSE. Tried to transfer money from my current account the following day but my bank's fraud team phoned me this morning about the transaction and suggested I should log into Tandem and ensure I had sole access to the new account. Very surprised to find I could not log in from their web page but then discovered I could using the app I'd downloaded previously. Trying to find my account however proved fruitless. At this point I cancelled the transfer from my current account with their fraud team and breathed a sigh of relief.
OK, Tandem like to do business using a mobile app but really not good enough not to also allow interaction using their web site. Will not be using Tandem again no matter what "good" interest rates they might offer. Martin might care to elaborate on his recommending this institution or is he getting a little financial reward for doing so???

PeskyBlunder

Apparently the accounts don't show up in the app until the first business day after the payment is received - at least according to the guy I spoke to on Friday (I got through straight away). I had opened a fixed rate account when the rate was 1.3% but when I looked on Friday it had been cut - the same man ensured me that I would get the 1.3%. That was also confirmed in the letter I received yesterday. However, my bank won't let me transfer a sum as large as I had pledged during the account opening so I had to give up on Tandem. I've now gone for Aldermore (the rate is 0.1% less but still better than NS&I) but now their 1 year fixed rate account is no longer available. Aldermore have online access - no app required. They seem to be quite proactive in their communication - I'm impressed with them so far.

colsten

cash-strapped said:

. Martin might care to elaborate on his recommending this institution or is he getting a little financial reward for doing so???

Martin doesn't even get involved in maintaining the top savings rate article. More importantly, though, MSE focuses on rates, not on service or usability or anything else you might be looking for in a savings (or other) account.

Bargepole1

I applied to open a fixed saver account with a beta version of their App as on MSE it stated that they were offering 3% to the first 100 selected customers. I've had a mail saying I am in the first 100 and will get the 3%. It say's watch out for the download link as you have to respond within 24hrs... I've been watching and ...nothing! I've emailed and asked what is happening.... again, Nothing! So, has anyone else been selected for this offer and have you managed to set it up?

infoadict

@Bargepole1 - you can read this thread https://forums.moneysavingexpert.com/discussion/6196854/tandem-3-fixed-rate-saver/p8