Tandem 3% fixed rate saver

London7766551

No email for me I won't bother if its not the 3%

Rendall

Has anyone actually paid into this yet. Is everyone sure this is a legit website?
Seems to good to be true but i have checked bank details and checked FCA website and cant find fault. Just feel there is something not quite right about this and trials for a beta app. I have been selected as a 3% customer so just seems to good to be true. 

quirkydeptless

Rendall said:

Has anyone actually paid into this yet. Is everyone sure this is a legit website?
Seems to good to be true but i have checked bank details and checked FCA website and cant find fault. Just feel there is something not quite right about this and trials for a beta app. I have been selected as a 3% customer so just seems to good to be true. 

EP456

movingon said:

EP456 said:

I had an email saying:

Thanks for signing up to our Beta Waitlist! You're eligible for a 1.4% AER* Fixed Saver

Hey Xxx

Thanks for signing up to be part of our beta waitlist. We’ve had such an overwhelming response which has proven to us that an app-based Fixed Saver is something our customers want! Unfortunately, you weren’t in the first 100 to sign up which means you aren’t able to claim the 3% AER/Gross* interest rate. Don’t be disheartened, though! We still have a great rate for you at 1.4% AER/Gross*. This is more than any other bank is offering as of 30th September 2020 when we checked last. If you're still interested in getting your hands on this great rate then please let us know below. This will bump you to the top of our list so you'll get your Fixed Saver in the next couple of weeks**.

When did you initially sign up? I'm still waiting and its been 24 hours.

23 September 

Rendall

About a week ago. Im just not sure if its a scam or not. Have emailed Tandem directly and await their response.

kinger101

Read this post.
https://forums.moneysavingexpert.com/discussion/comment/77632930#Comment_77632930

matty_art

kinger101 said:

Read this post.
https://forums.moneysavingexpert.com/discussion/comment/77632930#Comment_77632930

I read it.
The email wasn’t unsolicited as I did signed up, I’ve phoned them directly after the email (they never phoned me), confirmed the bank details, they told me that the app was a beta version and the promo was to encourage use of the app, the time pressure is normal for a fixed rate saver as you have a window to fund it.
It’s FCA registered as someone confirmed.
I’m confident it’s safe. Your post is mostly speculation.

themanseven

Rendall said:

Has anyone actually paid into this yet. Is everyone sure this is a legit website?
Seems to good to be true but i have checked bank details and checked FCA website and cant find fault. Just feel there is something not quite right about this and trials for a beta app. I have been selected as a 3% customer so just seems to good to be true. 

Same here mate. Got an email that I am one of those 100, asked Tandem aupport about this offer. Yet that "too good to be true" feeling bothers me. What did you check on FCA website?

intalex

Few concerns that I can't seem to understand / explain:
- No linked (external) current account required / specified, which I always felt provides some additional security especially when it comes to withdrawals
- I have a Tandem bank app downloaded from the App store (can't tell if it's for the UK or another country) in addition to the "development" version through which this 3% fixed deposit was opened
- On account opening, I didn't receive any emails or set up any login credentials - login is entirely authenticated via an SMS to the registered mobile number

Has anyone actually paid into this account and seen it reflect in the "development" app? Does anyone have any past experience of saving with them (not credit cards or current accounts, a savings account).

PaoloWD

I've double-checked this offer and 'development' app over the phone with Tandem.  I've spoken with 2 different people there now, one last Friday when I received the email, and again this morning.  They've reassured me that this is all legit.  The SMS log-in is correct for now; they will likely introduce Face-ID/Touch-ID for iOS when it hits the App Store in due course (although no timeline for that at the mo as it's so new). The Tandem sort code showing in my 'development' app is also correct, so I feel much happier about this offer now.  Apparently you don't need to have a linked account, just a UK current account to transfer the money to, which they'll use to re-pay you at the end of the 1 yr fixed saver.  All seems above board to me.