tandem bank
tandem bank card

Tandem Bank review

Tandem Bank is a challenger bank based in London in the UK. The bank is owned by Tandem Money, who acquired Harrods Bank in 2018, renaming it to Tandem Bank and operating under their existing license. The money that customers hold in Tandem Bank is protected by the FSCS up to £85,000.

How to open Tandem Bank account

Tandem Bank works entirely through mobile technology and uses your existing bank accounts. This means that rather than opening a completely new bank account, Tandem places all of your existing accounts in one place and uses the data to help you manage your spending and saving. The first step in signing up is to download the app from the App Store or Google Play. Once it has downloaded, any UK resident over 18 with a current account can sign up. You have to enter in some personal details, including the account details of an existing current account. Once Tandem has verified your identity, you will be up and running within minutes. 

The main features of the Tandem app work by gathering all of your existing bank accounts into one place, be it a current account, credit account, or savings account. The app is capable of pairing with most mainstream banks, as well as many of the challenger banks such as  RevolutMonzo, or Starling Bank

Due to the way Tandem is set up, it is not necessary to add funds to enjoy the app’s features. The app works alongside your existing bank accounts, and you will be able to see the balance in all of your accounts via the Tandem app. Tandem also offers three fixer saver account options that allow you to make one single deposit. The deposit can be made through the app or direct deposit. 

Tandem Bank mobile app

Once Tandem has paired up with your existing bank accounts, it accumulates the data of your day-to-day spending and begins to offer advice on how to be a little savvier. The data is also used to help you enjoy more of the things to enjoy, and the app offers you cheaper alternatives to your current goods, services, and suppliers. The app has a feed that regularly updates with your most recent transactions and offers helpful insights. Customer service is notably not available through the app, but they are contactable and responsive via instant messenger, phone, or email.

Tandem Bank Savings accounts

Tandem offers fixer savings accounts that allow customers to secure their savings and see them grow. They offer a 1-year, 2-year, and 3-year plan, with each option providing a set interest rate, so customers know exactly what they will have at the end. The interest rate for the 1-year plan is 1.25% AER, the two years is 1.35% AER, and the three years is 1.45% AER. This offers a reliable option for people looking to save, although you may find better rates by shopping around.

Tandem Bank for Travel

Tandem has been a popular choice among travelers due to the features offering a helpful way to budget and save on fees. The app provides live updates on your spending, allowing you to budget in real-time and avoid any unpleasant surprises when you get home. Tandem’s credit cards are also a useful travel companion, offering no fees on cash withdrawals and payments overseas.


  • Quick sing up and easy-to-use app
  • Spending analytics encourage better personal finance management
  • Get to see all of the bank accounts alongside each other
  • Compatible with most banks, traditional and challenger
  • Options for credit cards at competitive rates 
  • No fees on credit card payments and withdrawals overseas

Overall, Tandem Bank offers a unique banking option that allows users to see all of their finances in one place, and the smart features analyses your data to offer advice that will help you budget and save. Travelers will appreciate the credit card options due to the lack of fees abroad, and the app will offer advice that makes it easier to pay back the credit. One downside to the app is that it still integrally relies on traditional banks, and you will not receive a new current bank account upon signing up. However, this is an excellent service that continues to grow and release new features and services that make your finances more comfortable to keep track of.