Tandem

bettz

Anyone else had problems trying to open a savings account with tandem? I'm stuck at the verification stage and it's been 4 days and nothing. 

S_uk

It verified my account in about 10 seconds it was a very quick process. A pure guess but maybe there are more people opening accounts so the process is taking longer? Have you had any issues opening any other accounts elsewhere recently?

On a separate note, my bank hasn't blocked any of my large payments made to Tandem this week, in contrast to last year when I first started sending payments to Chase.

bettz

S_uk said:

It verified my account in about 10 seconds it was a very quick process. A pure guess but maybe there are more people opening accounts so the process is taking longer? Have you had any issues opening any other accounts elsewhere recently?

On a separate note, my bank hasn't blocked any of my large payments made to Tandem this week, in contrast to last year when I first started sending payments to Chase.

Yes I did think that maybe they've been inundated with requests. 

Never had any problems with any other banks. 

dingling68

I opened a savings account in the early hours this morning and was all set up and the initial transfer received very quickly.

Insomnia has it's advantages at times 

jaypers

Haha. Beware of overnight/early hours cash movements as these are the times financial institutions may be doing changes and have parts of their processing down. Can lead to stress and not being able to get back to sleep! 

dingling68

jaypers said:

Haha. Beware of overnight/early hours cash movements as these are the times financial institutions may be doing changes and have parts of their processing down. Can lead to stress and not being able to get back to sleep! 

Thank you. That’s why it was only for £1. I would definitely leave any larger amounts for standard banking hours

10_66

Are transfers out of Tandem received into bank same day and, if so, do they have cut off times for same day. please?

jimexbox

10_66 said:

Are transfers out of Tandem received into bank same day and, if so, do they have cut off times for same day. please?

Tandem seem similar to zopa. Withdrawals at whatever time take about 20 minutes. I've made a few over bank holiday weekend without issue. 

NatB1702

I've used Tandem for a couple of months now. I opened a Tandem Savings Account to earn interest on my savings each month, which I then withdraw to pay off the interest on my mortgage.

Pros: 
Interest paid monthly
You can access your money at any time
You can split your money into savings 'pots'
Transfer to / from your bank account is straight forward

Con:
App a little clunky and temperamental at times.

jak22

The passcode login method mentioned with the last app update is now active