tandem bank general faq's

Here you can find answers to frequently asked Tandem Bank General questions

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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 Green 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.