Tandem

[TeenagersAngst]

Does anyone have a savings account with Tandem? I saw on MSE that they have launched a 5% account so I downloaded app only to find its offering 4.65%.

Has anyone got the 5% version?

Yes, I opened one this week. I initially thought the same in the application process, but there is a bonus rate you can opt into for 1 year that tops it up to 5%. You can add it once the account is open.

Ah, thank you, that makes sense. I thought the bonus was on top of the 5%.

Do you only get the bonus at the end of year 1?

My daughter's got one. She says the bonus is 12 monthly; I think you can opt for monthly or annual interest for the rest.

Does the bonus rely on any particular behaviour eg no withdrawals?

Sorry, cant seem to find this info online! Have emailed Tandem but no reply.

@TeenagersAngst no, you can make as many deposits or withdrawals as you want. I'm always transferring money to and from my current account (which is with a different bank).

I get my 5% interest paid monthly.

Great, thanks. I'm with Chase at the mo but they are only on 4.1 so it seems worth moving

Same here - it's a shame as I really rate Chase - Tandem is a lot more limiting only being able to cash out to a linked account, no future dated payments and the transfers take a bit longer too. But almost 1% is not to be sniffed at. I just hope Chase follow suit soon and I'll move it all back!

Can't seem to transfer money even though I have opened the account and linked to my current account. App is saying 'applications paused this weekend' presumably due to high numbers.