Tandem easy access savings 5%

Gam2015

Does anyone save with them are they any good? Not really heard of them I am currently with Atom paying 3.88% and looking to change thanks. 

NorfolkCanary

Yes, plenty here save with them. Rate is technically 4.65% + 0.35% 1 year top-up rate.
FSCS protected, often discussed in the thread here: The Top Easy Access Savings Discussion Area - Page 1637 — MoneySavingExpert Forum
Been with them several months so far.
I assume you still need to verify an account with them to allow transfer to (open banking or bank transfer) & from.

VKE

Been with Tandem for quite some time and:
1: Have no complaints
2: They are FSCS protected which means your £'s are protected so even if you've not heard of them before now should give you peace of mind 
3: App is easy to use 
4: Moving funds in/out is easy and relatively quick
5: Interest rate is good

Exodi

Yes been with Tandem for a while, often very competitive, great app, my only real gripes are opening the app nearly always shows 'session expired' requiring a OTP texted to me every time (on top of fingerprint security)... it is a tad annoying, but realistically adds on 5 seconds once or twice a month... can't complain about 'too much security' I guess.

I'm sure there's a technical reason about ClearBank and faster payment networks or something, but unlike Chip (which is nearly always instant), Tandem can often take an hour or so for the funds to land in your account. Again not a big deal, I think I've just been spoiled by Chip recently.

Neither of them are deal-breakers obviously and definitely just a case of 'first world problems'. The rates are top tier at the moment, so I wouldn't think twice about holding my savings with them.

Zaul22

They are generally good, just they have issues with the app at the moment logging you out constantly, even while actively using it.

aroominyork

I want an instant access paying interest annually so I receive no interest this tax year. Cynergy is the best rate on this site - are they efficient and with instant(ish) transfer of funds in and out?

PixelPound

aroominyork said:

I want an instant access paying interest annually so I receive no interest this tax year. Cynergy is the best rate on this site - are they efficient and with instant(ish) transfer of funds in and out?

ish yes. Quicker on the out than in!!! Every time I've withdrawn funds it's been a matter of minutes. Depositing might take an hour or so before it shows. You get an email confirming the deposit is there.

Bazzalona13295

Gam2015 said:

Does anyone save with them are they any good? Not really heard of them I am currently with Atom paying 3.88% and looking to change thanks. 

Very early days (3 or 4!) for me so far, transferring money in hasn't been a problem.

Don't plan on taking any out as I'm simply topping it up with funds I know I'm not going to need so we'll see.

Rollinghome

aroominyork said:

I want an instant access paying interest annually so I receive no interest this tax year. Cynergy is the best rate on this site - are they efficient and with instant(ish) transfer of funds in and out?

Pretty quick in and out. The only problem I once had was when I wanted a withdrawal the next day, not the same day: the instruction wasn't processed. The site is wacky and takes some getting used to, but has lots of features if you don't give up.
I remember the initial sign up was very convoluted requiring selfies and documents.  Mrs R had a day of messing about but after phoning was efficiently sorted. May be easier now. The app just generates the authorisation code required for every login which is done on a separate device. So phone and laptop or whatever required. They don't update rates on existing issues but offer new issues that take only a few minutes to open and switch to.

Qyburn

Exodi said:

Yes been with Tandem for a while, often very competitive, great app, my only real gripes are opening the app nearly always shows 'session expired' requiring a OTP texted to me every time (on top of fingerprint security)... it is a tad annoying, but realistically adds on 5 seconds once or twice a month... can't complain about 'too much security' I guess.

Too much! The text message is the only thing securing your account. If I had access to your text messages I could install the app on my device, pop in your phone number and I'd be into your account.

Compare say TSB. Once their app is installed you need full credentials of username, password and memorable information to get it set up.

flaneurs_lobster

Qyburn said:

Exodi said:

Yes been with Tandem for a while, often very competitive, great app, my only real gripes are opening the app nearly always shows 'session expired' requiring a OTP texted to me every time (on top of fingerprint security)... it is a tad annoying, but realistically adds on 5 seconds once or twice a month... can't complain about 'too much security' I guess.

Too much! The text message is the only thing securing your account. If I had access to your text messages I could install the app on my device, pop in your phone number and I'd be into your account.

Compare say TSB. Once their app is installed you need full credentials of username, password and memorable information to get it set up.

...and once you had access to another's account you would be able to withdraw funds to their nominated account(s).

Unless someone can describe how they could direct funds fraudulently to an account under their control (which I'm not aware anyone has) then I think the current security is, er, adequate.