Fixed Saver

If you don’t give us instructions before your Fixed Saver unlocks, it will automatically move to a Matured Funds Saver, earning a variable interest rate instead of a fixed rate – until you decide what to do with your funds.

Here are your options:

• Reinvest – Open a new Fixed Saver and lock in a fresh rate for a set term.
• Transfer – Move your savings to an Instant Access Saver for 24/7 access.
• Withdraw – Take out your full balance and close the account.
• Do nothing – Your money stays in the Matured Funds Saver at the new variable rate.

The easiest way to give your instruction is through the Tandem app:

1. Open the app
2. Go to Banking and select your Matured Funds Saver
3. Manage your payout preferences

Prefer to chat? Give our customer support team a call.

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.

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 your app, this cannot be undone.

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.

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

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

Simply open the app, tap on your Fixed Saver account and then select the ‘Info’ icon to access your account details.

We’ll notify you by email or letter 14 days before your Fixed Saver matures, depending on your contact preferences. You’ll be asked to decide what to do with your savings – whether to reinvest, withdraw, or transfer them. You can share your instructions via the Tandem app.

Five days before maturity, we’ll send a mandatory reminder – even if you’ve already told us your plans.

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 then transfer money.

If you need more assistance with connecting another account, feel free to use our in-app chat or call 020 3370 0970 and we’d be happy to help.

Remember, any deposits from additional current accounts must be made within your 14 day funding window, before your account is locked.

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 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.