Tandem savings - transfer time?

k6chris

Just opened a transfer savings account, linked my current account and transfered £100 across to check it works. The money has left my current account, but is not showing in the Tandem app.  Have checked a few times now and nothing.  Should I be worried??

jaypers

They say it can take up to 2 hours. I opened my account on the day of the rise. Initial True Layer transfer took about 20mins. Then did a Bank Transfer for a larger amount that took about an hour to show. 

jaceyboy

Money shows in around 15 mins for me and I get a text to let me know which is good

k6chris

The power of the MSE forum means my text and funds have just arrived, thanks!  Very easy to set up the account and apart from a slightly confusing app interface, impressed so far.  5% is nice too!

DeLaSole

Just to add in my experience to the thread, which relates to Nationwide > Tandem transfers:

August 8th: 10 mins
August 9th: 13 mins

Initial text after payment says 'we've received your payment' and 'it should be visible in your account within 2 hours'. It's when the next text comes 'we've received your deposit' that the balance has updated to reflect the payment.
 
Best wishes to all.

Cambsalex

Is interest paid on a particular day with Tandem or is it 1 month after your initial depoist?

DeLaSole

Cambsalex said:

Is interest paid on a particular day with Tandem or is it 1 month after your initial depoist?

Hi,

FAQs say: "The interest will be applied to your account each month on the same date you first funded it."

Best wishes.

pfpf

i had assumed having used open banking for the initial deposit that the sending bank would have then set up the Tandem bank details as a new payee for future push payments. looks like i was wrong

BridC

jaypers said:

They say it can take up to 2 hours. I opened my account on the day of the rise. Initial True Layer transfer took about 20mins. Then did a Bank Transfer for a larger amount that took about an hour to show. 

I am still waiting nearly 24hrs later for money to arrive. Now in a queue to customer services. I'm not sure the bank is worth the stress this creates.

jaypers

I did a withdrawal yesterday morning which took around 15 minutes to arrive in my Bank.