Tandem 3% fixed rate saver

squashed_pea

Just got the “we’re closing your 3% account” email as well. Been jiggling money around with a view to transferring the lot today.. what a monumental waste of time. I’ll ring em later and will leave suitable feedback where I can..def worth going down the ombudsman route.. 

so much for your def in the first 100 lie. T&Cs made up as they go along 

Paul_01

I would be interested to know how you get on when you call. 

matty_art

Phoned this morning - got through bang on 8am opening.  I spoke to someone who was very understanding but was not even aware of the situation so he was surprised by the email - he couldn't do much other than open a complaint for me.  I've opened an official complaint, and I've suggested the simple resolution would be to update the interest rate on the 1.4% account I've now opened to 3%.  They have 8 weeks to respond. 

I will fund the 1.4% with the full amount now anyway given it's still the best rate available for me and I have money in transit back to me that needs to go somewhere (rates plummeting all the time).

intalex

matty_art said:

...but was not even aware of the situation so he was surprised by the email...

Was he at least aware of a 3% fixed rate saver having been offered to 100 early birds?

matty_art

intalex said:

matty_art said:

...but was not even aware of the situation so he was surprised by the email...

Was he at least aware of a 3% fixed rate saver having been offered to 100 early birds?

Yes he was and he had a copy of the email that had been sent out to me - he's just only been told about it 2 minutes before I phoned so had no further information.

squashed_pea

The plot thickens. My other half just phoned Tandem and said why has her 3% account been closed pre funding as she was one of the lucky 100 and she was told “its been completely closed down and anyone who has paid money in will be getting a refund”! 

squashed_pea

squashed_pea said:

The plot thickens. My other half just phoned Tandem and said why has her 3% account been closed pre funding as she was one of the lucky 100 and she was told “its been completely closed down and anyone who has paid money in will be getting a refund”! 

After another chat with Tandem they state it’s not completely shut down so the lucky few who managed to fund their accounts get to keep em.

matty_art

squashed_pea said:

squashed_pea said:

The plot thickens. My other half just phoned Tandem and said why has her 3% account been closed pre funding as she was one of the lucky 100 and she was told “its been completely closed down and anyone who has paid money in will be getting a refund”! 

After another chat with Tandem they state it’s not completely shut down so the lucky few who managed to fund their accounts get to keep em.

What did they say about their right to cancel those which were unfunded?

gwapenut

Yet another example of bait and switch from Tandem, something their credit card customers are all too familiar with (except those have become bait and dump). 
This company really can't be relied on to stick to anything for more than a few months.

squashed_pea

matty_art said:

squashed_pea said:

squashed_pea said:

The plot thickens. My other half just phoned Tandem and said why has her 3% account been closed pre funding as she was one of the lucky 100 and she was told “its been completely closed down and anyone who has paid money in will be getting a refund”! 

After another chat with Tandem they state it’s not completely shut down so the lucky few who managed to fund their accounts get to keep em.

What did they say about their right to cancel those which were unfunded?

Nothing detailed by the sound of it, My partner spoke to them in length about the account and their app stating by their t&c’s she had 14 days to fund it. Tandem apologised about closing it, basically blaming excessive demand, took down our concerns in a complaint and said they will get back to us. 

Who knows how many out of the “100” if that was actually the real figure got to fund their accounts quick enough.