Tembo - are they any good

Scruffy_Meee

I have never used just an online only account before and am looking at setting up a Tembo ISA to transfer my ISA across to, I am slightly nervous about an online only account and was wondering how people get on with the Tembo one?
TIA  

WillPS

I've used them for my LISA since last year, no complaints. App was a bit brittle but has improved.

Not particularly feature rich but app-based support is decent and the interest rate is strong.

There is a referral scheme - so make sure to ask your friends or have a google seeking a forum where such codes can be shared. Easy £15, maybe more.

friolento

Tembo are fine. Just make sure you understand how the FSCS protection works for money in your Tembo account 

Blackbriar_040

Switched my Cash Lisa from Moneybox to Tembo last year, have just initiated another 2 ISA switches from Trading212 and another Moneybox ISA to them.

The app has had a refresh and is fairly intuitive to use, never had any issues with transferring funds or any usability problems.
Communication wise, they have been fairly responsive! I would say quicker than Moneybox, in my experience.

If your a 1st time buyer, they offer support in buying your first property, and have a online community, which you can join and ask experts any questions.

Overall am fairly happy with Tembo!

 

Yellowman

There is no account number or sort code with a Tembo cash ISA. What would be used for a transfer out to another provider?

dcs34

Yellowman said:

There is no account number or sort code with a Tembo cash ISA. What would be used for a transfer out to another provider?

If you look at the statement it does list a number. Failing that, use your National Insurance number?

Growingold

Just be aware that a Tembo Cash ISA is not flexible so any money taken out cannot be replaced in that tax year without affecting you allowance.  So if one was to transfer an ISA to them from a flexible ISA it would lose its flexibility.

Albermarle

Scruffy_Meee said:

I have never used just an online only account before and am looking at setting up a Tembo ISA to transfer my ISA across to, I am slightly nervous about an online only account and was wondering how people get on with the Tembo one?
TIA  

The large majority of savings accounts are operated online nowadays.
Maybe you mean an 'app only' account which are less numerous.

friolento

Yellowman said:

There is no account number or sort code with a Tembo cash ISA. What would be used for a transfer out to another provider?

I can see a cash ISA account reference in My Profile.

allegro120

Does any one know what's the funding window for Tembo ISA?  My VM ISA matures on 31st March, funds available from 1st April, I'm looking at transferring it to Tembo.  Don't know whether to open the account now or wait until 1st April.

pecunianonolet

allegro120 said:

Does any one know what's the funding window for Tembo ISA?  My VM ISA matures on 31st March, funds available from 1st April, I'm looking at transferring it to Tembo.  Don't know whether to open the account now or wait until 1st April.

Same situation and also considering that same route but still a bit undecided.