Tandem

S_uk

I'm thinking of opening a Tandem instant access account given their 3.05% rate, and just wondered what people's recent experiences of it were?

I have used other app based accounts like Chase and Zopa, so being app based doesn't put me off, but I was wondering how you found setting it up, how long transfers take etc? I would plan to only use faster payments transfers and not link it to my other account via open banking (I assume this isn't compulsory?) Thanks

Bigwheels1111

Tandem are great, have a 5 year fixed rate saver with them, spare cash with Coventry building society as easy access was 3.2%.

Very easy to set up and fund.
would recommend them with no reservations

Jmc85

I agree, all really smooth in and out when I’ve used them over the past 18 months (long periods with a £1 balance!)

twadds123

had no issues with tandem.  easy enough app, quick transfers

S_uk

Has anyone had any problems with their bank blocking payments to it? Has Tandem ever had to review incoming/outgoing payments (I was put off Kroo for this reason).

Bigwheels1111

S_uk said:

Has anyone had any problems with their bank blocking payments to it? Has Tandem ever had to review incoming/outgoing payments (I was put off Kroo for this reason).

All banks cause issues with the first or second payment.
Is it a scam, not signed up with conformation of payee etc.
Even though I have a tandem account already, my bank did not want to send money to my tandem fixed rate saver.

S_uk

Does anyone know when the monthly interest is paid? I've looked at all the info, T+Cs etc and it surprisingly doesn't state this, it just says that interest is paid monthly on the same day of each month.

dgpur

S_uk said:

Does anyone know when the monthly interest is paid? I've looked all the info, T+Cs etc and it surprisingly doesn't state this, it just says that interest is paid monthly on the same day of each month.

It’s the day you open the account. So, if opened today, interest would come on the 8th day of each month.

S_uk

Well I opened an account it was indeed very easy, account verified in seconds.

Only thing that's different when I use the app is having a code texted to me every time I want to log in to the app.

£1 deposited, took 5 minutes to show. Will give Zopa till next week to up their interest rate otherwise I'll clear it all out.

Bigwheels1111

S_uk said:

Well I opened an account it was indeed very easy, account verified in seconds.

Only thing that's different when I use the app is having a code texted to me every time I want to log in to the app.

£1 deposited, took 5 minutes to show. Will give Zopa till next week to up their interest rate otherwise I'll clear it all out.

The texs stop if you use one access point.

ie phone or say ipad.

On the ipad it asks for a text to set it up and then turned on Face id.

If you dont login for a few weeks it asks for number and sends text.

S_uk

Bigwheels1111 said:

S_uk said:

Well I opened an account it was indeed very easy, account verified in seconds.

Only thing that's different when I use the app is having a code texted to me every time I want to log in to the app.

£1 deposited, took 5 minutes to show. Will give Zopa till next week to up their interest rate otherwise I'll clear it all out.

The texs stop if you use one access point.

ie phone or say ipad.

On the ipad it asks for a text to set it up and then turned on Face id.

If you dont login for a few weeks it asks for number and sends text.

I don't use biometrics on my phone so I assume that's why it asks me every time.