Tandem Bank Instant Saver up to 1.64% gross / 1.65% AER,

zxspeccy

I had an email from Chase reminding me of their £35K daily transfer limit, maybe they are expecting their customer to start withdrawing funds to put in better instant access savings accounts.

itm2

Does anyone know what the daily transfer limit is for the Tandem Instant Saver account?

RobfromCornwall

itm2 said:

Does anyone know what the daily transfer limit is for the Tandem Instant Saver account?

I can't see any mention of one in the Terms and Conditions...

bertsilver

Do you still have to enter your mobile number every time  to access your account, or can you set up a pass code.

itm2

bertsilver said:

Do you still have to enter your mobile number every time  to access your account, or can you set up a pass code.

Yes entry of the mobile number is still required (an SMS is sent to it each time)

Bigwheels1111

RobfromCornwall said:

itm2 said:

Does anyone know what the daily transfer limit is for the Tandem Instant Saver account?

I can't see any mention of one in the Terms and Conditions...

When I opened my Tandem account, A year back I sent 85K to fill it in one go.

refluxer

Bigwheels1111 said:

RobfromCornwall said:

itm2 said:

Does anyone know what the daily transfer limit is for the Tandem Instant Saver account?

I can't see any mention of one in the Terms and Conditions...

When I opened my Tandem account, A year back I sent 85K to fill it in one go.

They'll be talking about the daily payment limit for payments from the Tandem account.

Daliah

k_man said:

Daliah said:

This is because Chase don't participate in CoP, and they don't support Open Banking, either. Until they do, you will have to go via another current account in your name.

I quite like Tandem's pull-in functionality, which you can use with most UK current accounts (not Chase for now), and which can be even faster than faster payment. Only potential minor downside is that they can read all your current account transactions.

Are you sure about that last bit?

I think they must have changed and made this optional. Even better then!

MrFrugalFever

itm2 said:

Have just been trying to transfer funds from Chase to Tandem via my Santander 123 account. A bit of a pain in the neck - the maximum transfer value from Chase is £35k, and the maximum transfer value from Santander is £25k. And to add insult to injury, the Santander outbound payment was blocked and my account was suspended.
I'm loving the mobile banking experience :0(

That will be the banks fraud detection system, it will most likely have flagged due to large amount of money which is perhaps an unusual amount seen to be moved through the account. Often it just requires a proof of funds be away you go.

Stingy_Samson

itm2 said:

Have just been trying to transfer funds from Chase to Tandem via my Santander 123 account. A bit of a pain in the neck - the maximum transfer value from Chase is £35k, and the maximum transfer value from Santander is £25k. And to add insult to injury, the Santander outbound payment was blocked and my account was suspended.
I'm loving the mobile banking experience :0(

I had exactly the same issue a few months ago when doing it the other way round. I wanted to move 50K out of Tandem, into my Santander Lite 123 account, but then transferring it out of Santander into Chase was a pain. Even tried many small transactions but that apparently raised more red flags.

I can appreciate all the security measures and checks they put in place, but sometimes it does make mobile banking unusable. I had to find my nearest local Santander branch after many failed hours on the phone & online, only to find out that i needed to make an appointment and come back the next day, then they had the same problem and had to ring another department to unblock my account before being able to transfer MY money out. 

That's why i'm currently leaving my savings in Chase for the time being in the hope that their 1.5% rate increases soon (although unlikely, if at all, until the next interest rate rise).