Tandem 3% fixed rate saver

jt2020

You snooze, you lose. Anyone saying they were going to hold fire for a while to see how it panned out for others have missed out.
The ones who put their money in early with confidence based on facts are now getting the 3%. It may not be fair but the early bird catches the worm.

matty_art

jt2020 said:

You snooze, you lose. Anyone saying they were going to hold fire for a while to see how it panned out for others have missed out.
The ones who put their money in early with confidence based on facts are now getting the 3%. It may not be fair but the early bird catches the worm.

Or maybe some of us didn’t have the money immediately available. Don’t be mean.

alexjuk

Hi there, I was the one who was wary of this deal at the end of September and made a post asking the MSE community if you thought I was being scammed, bowlhead99 kindly replied to my post and after investigating the bank I opened my account.
Unfortunately while waiting on a response to queries@tandem thinking I had two weeks to fund the account I found out they had closed all unfunded accounts, without warning or in my case notification. Pretty disappointed and while I will be opening a 1.4% account it's not a good start to relationship with the bank. Interested on hearing if anyone has any luck with the complaints procedure, I'm not holding my breath...

squashed_pea

jt2020 said:

You snooze, you lose. Anyone saying they were going to hold fire for a while to see how it panned out for others have missed out.
The ones who put their money in early with confidence based on facts are now getting the 3%. It may not be fair but the early bird catches the worm.

If anything that comment isn’t fair to the people that did setup the account straight away and followed Tandems instructions to fund it in 14 days to then get the rug pulled out from under them. 

advice117

I got the top 100 email and never the follow up app download link, had the money ready to fund the 3% so I wasn't even given the opportunity to keep the 3% offered - currently chasing them for the app download link so that I can set up an account in order to take my complaint to the financial ombudsman.
Am I wasting my time in thinking I'd get any compensation by going down this route?

squashed_pea

Re above - if you hadn’t even got the app installed and setup then your not in any form of contract with Tandem. 

The lucky few that did get it setup, registered, got an account number then got their account closed have a real reason to moan. 

I got a bog standard “we’ll reply to your complaint within 8 weeks” email from Tandem so we shall see what they say then.

wiseonesomeofthetime

"Unfortunately, however, this means that we have quickly reached the maximum amount we were able to accept in deposits "

This comment is a strange one, given that they are still offering the 1.4% Fixed Rate to some, by the look of it, so clearly have not reached the maximum amount able to accept in deposits 🤷‍♂️

Paul_01

I think it means  they reached the maximum they wanted for the 3% account.

matty_art

Paul_01 said:

I think it means  they reached the maximum they wanted for the 3% account.

Which is presumably less than the 100 they offered it to... 

advice117

squashed_pea said:

Re above - if you hadn’t even got the app installed and setup then your not in any form of contract with Tandem. 

The lucky few that did get it setup, registered, got an account number then got their account closed have a real reason to moan. 

I got a bog standard “we’ll reply to your complaint within 8 weeks” email from Tandem so we shall see what they say then.

So in response to my question, would you say that me having received the email confirming my 3% interest rate, not having received the follow up email out of no fault of my own and if I were now to receive a download link & set up an account with the 1.4 rate, I wouldn’t qualify to complain to the financial ombudsman?
I’ve already received a non-automated response to my complaint request via email (after mentioning FO) and they have claimed that they’ll get someone to send me this long awaited link, implying I’d still be able to get an account set up.