Tandem savings account.

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Anyone who has opened the Tandem savings account app, is it the way Tandem operate the signing up app feature, that is it links in with you linked bank account via their own app asking for your user name etc – this doesn’t make sense does it.

Last week I join Atom bank and i manually put in my linked bank account details no problem this is how it’s always done.

Just didn’t like the way Tandem does it. Can some one who’s recently opened an account allay my fears.      

Daliah

Tandem are using Open Banking to allow you to pull in money from your linked account. Obviously, you have to log into your linked account to authorise the transfer to Tandem. 

It's strange because it's new to many people but it is perfectly safe. It is much faster, and less error-prone than setting up a new payee on your current account to send money to your Tandem account. Though you can do the latter if you prefer, as your Tandem account has a sort code and account number.

Several providers are doing the pull-in now - Tesco is another one I remember doing it.

There's one proviso I would make: when you use the "pull-in" method, you authorise the puller (in this case Tandem) to read your linked account details for the next 90 days. Personally, I don't like this sort of snooping so I have deleted all the authorisation I have given 

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Daliah said:

It's strange because it's new to many people but it is perfectly safe. It is much faster, and less error-prone than setting up a new payee on your current account to send money to your Tandem account. Though you can do the latter if you prefer, as your Tandem account has a sort code and account number.

There's one proviso I would make: when you use the "pull-in" method, you authorise the puller (in this case Tandem) to read your linked account details for the next 90 days. Personally, I don't like this sort of snooping so I have deleted all the authorisation I have given 

Yes, i found it strange and bailed out at that point. I don't use those budget apps either that need to link to your bank accounts for the app to work correctly for the same reason ''snooping''

Can you set up the account and delete all the authorsation at the end of the same day?

[Deleted User]

Had an email today from Tandem saying my savings had gone up to 1.1%. Sadly for them I'd already moved my money and have done so again several times since, I'm now with Chase. Still, nice to know the account is still open should circumstances change.

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To all those enjoying their Chase bank account paying 1.5% great, happy for you.

I was planning to move house this year looks like I’m going to postpone for 12 months or so for two main reasons.

1, Wait for the house prices to drop a bit, I know it’s going to happen I can feel it in my water.

2, May the 5th is the next bank of England meeting, I think the 1 year fix rates will creep past 2% for sure, that will be my target point to load up on several accounts and then i will see the state of play 12 months on.

gt94sss2

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Can you set up the account and delete all the authorsation at the end of the same day?

Once you set up the Tandem account, you can get rid of the authorisation if you want too.

The Tandem app includes the sort code and account number of your account with them.

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gt94sss2 said:

Thumbs_Up said:

Can you set up the account and delete all the authorsation at the end of the same day?

Once you set up the Tandem account, you can get rid of the authorisation if you want too.

The Tandem app includes the sort code and account number of your account with them.

Thank you...Now getting my phone.

JGB1955

I opened a Tandem account, then Nationwide stopped me in my tracks because they couldn't verify their account details.  End of relationship with Tandem...

wiseonesomeofthetime

Strange that. My nationwide and tandem accounts linked fine

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gt94sss2 said:

Thumbs_Up said:

Can you set up the account and delete all the authorsation at the end of the same day?

Once you set up the Tandem account, you can get rid of the authorisation if you want too.

The Tandem app includes the sort code and account number of your account with them.

I can see what open banking is all about, takes 10 minutes to open up account. Spent another 10 minutes to find where i can deselect the authorisation settings, surprize surprize it's hidden away. Can you folks give me a hint.

Yellowman

My Tandem and Nationwide accounts also linked successfully. Transfers into Tandem using both payment methods appeared within a short while.

I am impressed that the app banks Atom and Tandem are working so well on my 'older' mobile phone with Android 8.00, which is not the case with Chase.