Source: Tandem Bank
Tandem, the Good Bank, has today launched three fixed saver accounts, offering savvy savers the chance to put money aside in their own virtual treasure chest.
With competitive interest paid at the end of their term, these accounts have been trialed and tested by the Tandem team, their friends and family, and their community of Co-Founders.
The savings accounts are part of Tandem’s mission to free the world from the stress of banking and put financial control back into the hands of its customers. The accounts will live in the Tandem banking app, providing customers with a one stop shop for all financial needs.
Signing up to Tandem couldn’t be easier. Customers complete a short online form in a matter of minutes and then move onto the app for account management. After the account is opened there is nothing to do other than watch it mature.
The fixed-term accounts offer a solution to grow an already formed nest egg into something bigger. Whether you're saving for a house or something smaller, a Tandem fixed savings account can offer a much needed boost.
You cannot withdraw any money from a Fixed Saver account until the end of the product term (don't worry if you don't know when this is, Tandem will contact you with various options before your account matures). To be eligible you must be:
• at least 18 years old
• a UK resident, with three years of address history in the UK
• own a UK based current account to act as the linked current account
Tandem is the most mature of the digital challenger market, with a broad range of products and £80 million of capital. Next on the agenda is a second card to add to Tandem’s integrated suite of products, all managed using the Bank’s advanced app. Tandem also have plans to launch an instant access savings account.
David Goodwin, Product Manager at Tandem, says, “We’re shaping a suite of products that serve as solutions to real problems that people struggle with every day. Tandem is a bank that helps customers better manage their money, and these savings accounts are a way for people to see guaranteed returns on their cash.”
Ricky Knox, Tandem’s CEO adds, “It’s been a long wait for us and we’re excited to finally share these accounts with the public. We’ve got big ambitions for 2018 and are off to a fantastic start.”