TrueLayer

LUCY2208

I'm setting up a new account with Tandem. To register a nominated bank account you are redirected to TrueLayer with a message "your account will be accessed on a recurring basis". This allows them to see all your transactions. I feel very uncomfortable about this. Can they be trusted?

PRAISETHESUN

Your banking security details (username/password) are 100% safe if you use your bank's open banking protocol to share your banking data. I've used TrueLayer-based apps in the past and they do things properly so there's no issue on that front - they will securely facilitate the transfer of your data. The real question is why does Tandem want access to your bank account info? I suspect solely for marketing reasons.

If you allow access then Tandem will be able to see details for every transaction you make on your linked account. I can't think of any legitimate reason other than for marketing - every other "linked account" type set up usually uses DDs or similar. This approach may be useful to some, but personally I wouldn't give access unless I actually wanted to share that information.

DireEmblem

Tandem have an AI that can review your account balance/spending and can automatically put money aside for you in a savings pot.  Its not bad for something that's free with a 0.5% interest rate.  I suspect that is what the OP is doing.