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Tandem fixed rate interest halved?
cisko65
Posts: 351 Forumite
Hi, on 16 December I applied for the Tandem 1 year fixed rate, with 0.8% interest. Before funding the account I waited for the written information. It arrived today and it says ''You'll start earning 0.80% interest as soon as we (???) make the transfer''. I was about to make it and checked the website: it says interest is now 0.4%. What's happening? Usually you get the interest when you do the funding. Will I have 0.4%? I hope I have visited the wrong Tandem webpage. 
Thanks
Thanks0
Comments
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It's quite normal for savings providers to change the rate they offer to new applicants. It is best not to delay funding as some providers do not open your account until the initial deposit is received. However, if you have written confirmation of a rate then the provider would normally honour that rate if the transfer is received within a certain timeframe.
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Thank you. Will check tomorrow with them.0
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