What is a Tandem bank? 

What is Tandem Bank – If you are looking for a digital bank that takes care of your finances while you relax with a relative rest of mind, Tandem Bank provides such an unmatched opportunity.

It’s a virtual bank in the sense that you carry out all operations on its mobile app with no branch location for customers.

What is Tandem Bank?

The Bank is a UK greener digital bank that provides employees and business owners with a relaxed and sustainable means to save their finances, while they as well as could borrow and spend their money at will.

It offers services in areas like mortgages, savings accounts, loans, Motor finance, etc.

Tandem has a specialized approach to green lending, which is typically for projects around energy-saving home improvements.

With a record of about 230 million pounds in green loans as of 2021, this attracts a significant improvement as homeowners cut carbon emissions a whooping 12,000 tonnes.

Who owns Tandem Bank?

The Bank is owned by “Tandem Money Limited,” launched by founders Matt Cooper, Rooky Knox, and Michael Kent.

Products

Tandem Bank prides itself in savings and loans, however, does not offer current account services

Mortgage: Tandem offers residential mortgages via its intermediaries with a window to borrow up to 750,000 pounds for property purchases.

Motor finance: If you are looking to buy a used car, Tandem will make that dream come true through its motor finance offering.

If as a customer you’re planning to switch to lower emission and electric cars, the Tandem green solution.

The application process is super easy, and as a matter of necessity, the bank works with used car dealers throughout the UK.

Savings account: The Tandem savings account includes instant access savers and fixed savers.

These accounts are opened and managed through the Tandem bank available for Android and IOS operating systems.

What does Tandem Bank do?

It offers its customers; savings accounts, mortgages for home loans and repairs, and personal and secure loans. Green Home improvement loans and Motor finance.

Is Tandem Bank reliable?

Yes. Tandem is a registered UK bank covered by the Financial Services Compensation Scheme, by this feet, up to 85,000 Pounds of your savings are covered just in case the bank encounters any difficulty. Tandem bank is considered safe.

How long does a Tandem bank transfer take?

In most cases, the transferred amount will be in the beneficiary’s account within 2 hours, this may take up to 24 hours in some cases. The same time frame applies for payments into your external bank account.

What do I need to open a bank account?    

• Head over to the IOS App Store or Android Google Play to download the Tandem App
• Set up an account
• A quick and thorough ID check will be conducted on you
• Connect your UK current account if that is the case
• You are ready to start saving

How do I pay money into my bank account?

Tandem uses secure Open banking technology to connect to your preferred current account, this way you can make easy and quick transfers into your Tandem savings account.

How old do you have to be to use Tandem? 

To be eligible to use Tandem, you must be 16 years or above, and not currently restricted by Tandem.

Final thought

Tandem is a UK greener digital bank that provides employees and business owners with a relaxed and sustainable means to save their finances, while they as well as could borrow and spend their money at will.

It offers services in areas like mortgages, savings accounts, loans, Motor finance, etc.

It has a specialized approach to green lending, which is typically for projects around energy-saving home improvements.