Why have I received a letter from Tandem about Remediation?
Following an internal review of our Credit Card proposition, we have identified an issue with the wording of a letter we sent to a small number of customers. As a result of this, some customers received incorrect information or paid unauthorised interest and charges on their Credit Card balance. We have written to all those affected, so that we can put this right.
There’s an outstanding refund to or credit on my final balance. How will this be sent back to me?
Any refunds processed after 17th February 2021 will have been automatically returned to the merchant as the payment channels associated with the Tandem credit cards were deactivated by Mastercard on this day. If this applies to you then please contact the merchant to arrange for the refund to be made to an alternative account in your name. If the merchant asks for written confirmation of this, then please call us on 0203 370 0970 and we will be happy to provide it.
Some customers had outstanding credits on their accounts from refunds received before 17th February 2021. We have previously sent emails to these customers advising of this and we have now sent letters containing cheques to return these funds to all customers who were owed them.
These letters were posted on the 17th May 2021. If you feel you have an outstanding credit owed to you and have not received a letter from us, please call us on 0203 370 0970 so we can investigate this further for you.
I opened a loan with Allium Money. What do I do now?
If you transferred your balance to a loan with Allium Money then you should have received information about your loan from Allium already. Please reach out to them on 0333 016 4105 if you have any questions. Their office hours are Monday to Friday 8am-8pm, and Saturday and Sunday 10am – 5pm.
I didn’t take out an Allium loan and I have a remaining balance.What happens now?
If you still have a balance with us then you do not need to do anything at this time. We will be transferring it to another organisation for you. We are working on this now and will reach out to you with further information about next steps in March 2021. In the meantime, you will not be charged any interest or fees on your balance until the transfer is complete.
Which organisation are you transferring my balance to?
We cannot confirm this now. As part of the transfer, you will receive communication from both us and the company we transfer your balance to, giving you more information about the next steps.
Am I being charged interest or fees on my outstanding balance?
No, you will not be charged any interest or fees on your balance until the transfer is complete. After your balance is transferred you will pay interest inline with your existing terms. Any change to interest rates will require your new provider to provide an advance warning of at least 60days.
Can I make any more payments to Tandem before my balance is transferred?
We decommissioned our payments system on 12th February 2021, so we are no longer able to accept payments towards your remaining Tandem Credit Card balance. However, you will be able to make this payment to your new provider once the transfer has been completed.
Will I need to pay interest to the organisation you transfer my balance to?
They will abide by the current terms and conditions that you have. Any change to interest rates will require them to give you adequate warning of at least 60 days, before any changes can be made.
I have a transactional dispute on my card. What should Ido?
We will continue to process your dispute as normal. For information about an existing dispute, please contact us at firstname.lastname@example.org.
How will this account closure show on my credit file?
Once the account is at zero balance and is then closed, this change of status will be reported to the Credit Reference Agencies in our standard monthly reporting cycle.
What happens if I’m currently on a Covid-19 plan?
Covid-19 plans will be honoured as part of any transfer, including the minimum payment and payment deferral options.
It is an FCA requirement for all companies to adhere to the guidance on Covid-19 plans. If you are currently on a Covid-19 Plan, we will pass this information on to the 3rd party receiving the transfer.
I’m struggling to make payments at the moment, what does this mean for me?
The organisation receiving your balance will be able to support you if you need longer to pay down. Once they have received your balance and have more context about your situation, they will reach out to you to discuss your payment options.
Why are these changes happening?
Offering a broad range of services to our customers is important to us as a company. However, after a lot of customer research and discussion, we made the decision to discontinue our credit card offerings, inclusive of Tandem Membership, and refocus our attention on our green initiatives and building our new Tandem savings app.
One of best things about being a startup is that we learn quickly and adapt when a change needs to be made. We didn’t take the decision to close our cards lightly, and have tried to ensure you experience as little disruption as possible in this transitional period.
Where can I find my terms and conditions?
If you are a Journey Card user you can find them here.
Will there be another card from Tandem in the future?
We hope to reintroduce a spend service to our offering in the future but for the meantime, we will be focusing on developing our other products and services for our customers.