FAQs

Here you can find answers to frequently asked questions.

Tandem Bank General FAQs

Is Tandem a fully regulated bank and where can I check this?

Yes, we are regulated by the Financial Conduct Authority (“FCA”) and Prudential Regulation Authority (“PRA”). Tandem is a trading name of Tandem Bank Limited, you can search for us on the Financial Services register using our reference number 204479 at https://register.fca.org.uk/s/

How does Tandem ensure my money is safe?

The savings you have with us are protected up to £85,000 by the Financial Services Compensation Scheme (“FSCS”), the UK’s Deposit Guarantee Scheme. So in the unlikely event of Tandem facing difficulties, the FSCS will compensate you if we are unable to pay back your money and as a minimum you would get your money back up to that limit. You can find out more about how the Deposit Guarantee Scheme works and how much of your savings are protected in the FSCS information sheet available in the Tandem app or by visiting fscs.org.uk

How and why are Tandem a greener, fairer bank?

Tandem was created with a vision of building ‘The Good Bank’ – one that put customers’ needs first and takes the stress out of money management. Tandem recognises the critical impact that we all have on the environment and following the acquisition of green lending business, Allium, set about helping customers to understand and reduce their environmental impact and help to create a more sustainable future for our planet.

You can watch your money grow, whilst supporting our green lending initiatives and helping to make UK homes more sustainable and environmentally friendly. Through customer research, we know that a lot of our customers are looking for ways to live more sustainably and to save and spend their money more ethically and that’s why we have much more to come.

Do you offer joint accounts?

No, at the moment Tandem savings accounts can only be opened in a sole name.

Do you offer Business accounts?

No, at the moment we only offer personal accounts.

Do you offer current accounts?

No, at the moment we do not offer current accounts.

How old do I have to be to have a savings account with Tandem?

To open a savings account with Tandem, you must be at least 18 years of age.

Bereavement – How we can help support you when someone passes away

Losing someone close to you can be difficult and emotional so we want to do all we can to assist you take care of financial matters.

What’s Covered - Tandem Savings Customers only

Products - Sole & Joint accounts
Instant Access Savings Account (IASA)
Fixed Term Saver (FTS

Ways to Notify Us
If you have been appointed as an executor by the person who has died, please let us know as soon as possible, you can do this by using any of the useful contacts listed below.

Useful Contacts
Customer Service team 020 3370 0970
Email customercare@tandem.co.uk
In-app chat – If you are also a customer.

Post to the address below:
PO BOX 10461
Wigston
LE18 9FH

To help us find their account, we will ask you to provide the following information:

  • The account holder's full name
  • Their phone number
  • The account number(s)
  • Their address

Once the account is identified, we will require proof of death before we can provide any account information. Please provide us with a certified Death Certificate. Upon receipt we can independently verify this information and will follow up with written confirmation by letter.  We also require documents proving the identity and address of all named Executors.

We accept most formal records and have also provided a helpful list below. Please do reach out to confirm with us if you are unsure.

Documents Required
To close the account, we will require certain documents. It is important to note Death Certificates, Grants of Probate, proof of identity or address verification sent to this address will need to be certified as true copies of the originals and sent as scans. We are unable to accept copies that have not been certified. A list of places or persons who may certify your documents is provided below.

  • Original or certified copy of the death certificate
  • An original or certified copy of the Grant of Probate or Letters of Administration
  • Original or certified proofs of identity for all named Executors (e.g., current valid (signed) full passport or UK / EU photocard driving licence)
  • Original or certified proof of address for all named Executors (e.g., utility bill, council tax bill or bank statement dated within the last 3 months) – for individuals who reside outside of the UK, two separate proofs of the address
  • A letter signed by all named Executors providing account instruction

We will accept certification from the following persons:

  • Bank / Building Society Official (Requires official bank stamp with sort-code)
  • Post Office Official (Person authorised under the Post Office Document Certification Service)
  • Legal professional (A Judge, Solicitor, Lawyer, or Barrister registered in England & Wales, Northern Ireland, or Scotland)
  • Qualified Accountant (Registered with qualifications - ICAEW, ICAS, ACCA, CIPFA or CIMA)
  • Medical professional (Doctor registered with the General Medical Council, Dentist registered with Register of General Dental Professionals)
  • Member of Parliament

We cannot accept certification by a close family member or acquaintance (e.g., cohabitant).

We hope you find the enclosed information useful, and if you have any questions, please don't hesitate to get in touch with our customer care team at customercare@tandem.co.uk.

Closing the account
Please note that we are unable to make a payment via cheque and will need to make all payments via an electronic bank transfer. Please provide us with details of where the deceased customer’s funds should be sent upon release. You can do this by providing evidence of the account in the form of a bank statement or voided cheque dated within the last 3 months.

Communications
We will stop any further communications to the account holder, which will take a short while to organise so you might receive letters addressed to them in the meantime. We are sorry if this causes any distress.

Finally, we are deeply sorry for your loss. Our team will complete your request within 7-10 working days once all required communications and documents are received.

Tandem App FAQs

Can I update my personal details in the Tandem App?

At the moment, you can't update your personal details (like your address) via the app. To do so, feel free to use our in-app chat or call 0203 370 0970 and we’d be happy to help.

How do I log in to the Tandem app?

If you are already a customer with Tandem, click on “Already in Tandem? Log In” towards the bottom of your screen. Enter your mobile number and we’ll send you a text message with a code to log in.

After that, provided you have biometrics enabled on your device, you will be able to log back in using that method each time. Occasionally you will still be asked to enter your mobile number to receive a log-in code again for security reasons.

If you aren’t already a customer, click on “Create a profile” to register with Tandem and open an account.

Can I view my Tandem savings account on any devices other than my smart phone?

We recommend that you use our app on your smart phone, which it is designed and optimised for. You can view your account through the Tandem app on a tablet if you prefer, although you may experience a few glitches.

Open Banking FAQs

What is Open Banking and why does Tandem use it?

Open Banking helps you move, manage and make more of your money, safely.

It provides a simple, fast and secure way for banks to share your financial information, like your account balance or recent transactions. With Open Banking, you’re always in control. You choose which providers you allow to access your information or make a payment on your behalf.

We use Open Banking to verify your identity and the UK current account you use to fund your savings account is in your name. It also makes it easy for you to quickly move money back and forth between your current account and your Tandem savings accounts.

For more information on what data is shared through Open Banking, please review our Privacy Policy. You can also find out more about Open Banking here.

What is TrueLayer?

TrueLayer is a regulated Open Banking provider that we partner with. Over half of all UK open banking information flows through its platform.

Which banks can you connect via Open Banking?

The number of banks and building societies that offer connection through Open Banking is growing. At the moment, we are able to access over 75 banks and building societies accounts, including:
- Barclays
- First Direct
- Halifax
- HSBC
- Lloyds Bank
- Monzo
- Nationwide
- NatWest
- RBS
- Revolut
- Santander
- Starling Bank
- TSB

To find a full list, search on the bank picker section in the app to see if your bank is supported, or visit here.

What limits are there on how much money I can transfer using Open Banking?

Money transferred through Open Banking is processed using the UK's Faster Payments system - however each bank applies their own daily payment limit. You can find the limit for your bank - here.

Tandem Bank General FAQs

How long will it take for a bank transfer to show in my savings account on the Tandem App?

In most cases your money will be in your account within 2 hours, however sometimes this may take up to 24 hours to arrive and show in your account. Note: For payments to your external bank account, the same timeframes are applicable.

Why do I have to connect an external bank account?

By connecting your bank account, we have verified that the account belongs to you and provides fraud protection for both Tandem and you.

What should I do if my external bank account fails to connect in the App?

If your bank account fails to connect to the app, this could be due to a service or technical difficulty. We recommend that you retry this action after a few minutes.

If you’re still experiencing issues, then contact our customer service team in our in-app chat, at hello@tandem.co.uk or by calling 020 3370 0970.

How do I find my savings statements in the app? And how often are these issued?

Tap on the person icon in the upper left to go to your account and settings, then tap on Important documents where you can view your statements that will be issued on a monthly basis for an Instant Saver, and annually and at the end of the term for a Fixed Saver. You can also see your personal details, app details and additional information about how to contact us from this screen.

Will I receive a Certificate of Interest? When will that be issued, and what’s included on the certificate?

We send you a certificate of interest annually, shortly after the closure of the tax year. The document confirms the interest you’ve earned within the previous tax year. Certificates of interest will be available in the app.

You can also request a copy of your certificate of interest for the previous tax year at any time – to do so, feel free to use our in-app chat or call 0203 370 0970, and we’d be happy to help.

Instant Access Saver FAQs

How does an Instant Access Saver account work?

An Instant Access Saver is an account that will pay interest monthly on the money you put in. You can save as little or as much as you want up to £250,000. You can withdraw money, and pay money in, whenever you want.

Can I transfer money in from a bank account other than my connected account?

No, we can only accept money from a bank account that we have verified as belonging to you. We will return any money sent from accounts that haven’t been verified.

If you wish to transfer funds from a different account, select “Connect a new current account” through the “Pay in via Open Banking” screen in the app. Once we’ve verified this new account you can transfer money.

If you need more assistance with connecting another account, feel free to use our in-app chat or call 0203 370 0970 and we’d be happy to help.

Where do I find the sort code and account number of my Saver account?

To find your sort code and account number for your Instant Access Saver, simply visit the app, click on your account and then select the information icon to access your account details.

Can I have more than one Instant Access Saver account?

No, you can only have one Instant Saver account.

Why can’t I fund my Instant Access Saver from an overseas current account?

We are only able to accept money transferred from a verified UK bank account. This provides fraud protection for both Tandem and you.

Fixed Saver FAQs

How does a Fixed Saver account work?

A Fixed Saver is an account that you open for a certain period of time (the “term” of the account) where you can’t take your money out, or add any more money in, until the end of the term.

You have a 14-day window to fund your account after opening, during which you will be able to make as many deposits as you like. After the 14-day window your account will be locked, and you then will not be able to access your funds until your account reaches the end of its term.

In return, we offer competitive interest rates that reflect that you can’t take your money out during the term. Your interest rate will be fixed for the term of the account and interest is paid annually and at the end of the term into your connected bank account.

Can I transfer money in from a bank account other than my connected account?

No, we can only accept money from a bank account that we have verified as belonging to you. We will return any money sent from accounts that haven’t been verified.

If you wish to transfer funds from a different account, select “Connect a new current account” through the “Pay in via Open Banking” screen in the app. Once we’ve verified this new account you can transfer money.

If you need more assistance with connecting another account, feel free to use our in-app chat or call 0203 370 0970 and we’d be happy to help.

You’ll also need to make any deposits from additional current accounts in your 14 day funding window, before your account is locked.

How will you notify me that my Fixed Saver is reaching the end of its term and is going to mature?

Depending on your contact preferences, we will contact you via email or letter 30 days before your account matures to ask you what you’d like to do with your savings. Once you’ve decided, you can share your instructions via the Tandem app.

We will be in touch again 14 days before your account matures to remind you that your account is maturing. This reminder is a mandatory communication that we have to send you, and will still be sent regardless of whether you’ve already told us what you’d like to do with your Fixed Saver when it matures.

Where do I find the sort code and account number of my Fixed Saver account?

To find your sort code and account number for your Fixed Saver, all you need to do is go to the app, click on your account and then select the information icon in the top right hand corner of your screen to access your account details.

Is there a limit to how many Fixed Saver accounts I can have?

There is no limit to the number of Fixed Saver accounts that you can open, or have open at any one time.

Why can’t I fund my Fixed Saver from an overseas current account?

We are only able to accept money transferred from a verified UK bank account. This provides fraud protection for both Tandem and you.

How long do I have to fund my Fixed Saver, once I’ve opened an account?

Once you have opened your new Fixed Saver, you will have 14 days to fund your account, during which time you can add funds as many times as you like. Once your 14-day window has passed your account will be locked and you will no longer be able to add or withdraw funds until your term has ended.

What should I do when I’ve finished adding funds to my Fixed Saver?

Once your 14-day funding window expires, your account will automatically lock and you will no longer be able to add funds. If you finish adding funds before your window expires, you can also choose to manually lock your account early. Once you’ve locked the account in app, this cannot be undone.

Can I add more money or take money out of my Fixed Saver once the funds are locked in?

Once you’ve finished funding your account and it’s locked in, you will no longer be able to add or withdraw funds for the duration of your term until your account matures. Once your account matures you will have the option to either reinvest or withdraw your funds.

Any deposits that you make that exceed the maximum balance of £2,500,000, or deposits made after the funding window has ended, will be returned to the account you made payments from.