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FREQUENTLY ASKED QUESTIONS

General

Find all there is to know about Tandem. Search our most common questions below, or get in touch with our helpful support teams.

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General
Is Tandem Bank safe?

Yes! We are a fully regulated UK bank, so you can rest easy knowing that your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).

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

General

How and why are Tandem a greener 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.

Does Tandem have physical branches?

We’re a digital bank which means we’re branch-free and proud of it! Better for the environment and better for you, with everything online or available in our app.  

If you need any help, our remote customer support teams are only a message away! Find ways to get in touch here.  

Does Tandem offer current accounts?

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

Does Tandem offer business accounts?

No, at the moment we only offer personal savings accounts.

We also offer a range of lending products such as Home Loans, Home Improvement Loans, Motor Financeand Mortgages.

Does Tandem fund fossil fuels in any way, directly or indirectly?

We are proud to share that Tandem Bank is committed to promoting environmentally responsible practices and supporting initiatives that contribute to the reduction and eventual elimination of fossil fuels. We want to assure you that we do not fund fossil fuels, either directly or indirectly to the best of our knowledge.

All of our lending is directed towards consumers, and around 24% of these funds were channelled into green home improvements and more sustainable lifestyles in general last year. We do fund the purchase of second-hand cars, but mainly focus on low emission vehicles.

Tandem Bank understands the importance of Net Zero and actively works to align our financial practices with environmentally conscious values. We encourage you to join us in our mission to save, borrow and spend a little bit greener.

Should you have any further questions or need more information, please don’t hesitate to reach out.

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