Is Tandem Bank safe to use in the UK?

Tommy Buckley

Thinking of signing up for a new bank or financial app? If your money is involved, you’ll need to check out what security measures are in place.

Here, we’ll be taking a look at security features with

In this guide, we’ll be taking a close look at security features with UK digital provider Tandem Bank. It’s an app-based bank, which mainly offers savings accounts along with loans, motor finance and mortgages.

But how safe is Tandem Bank? Read on for everything you need to know.

We’ll also show you a secure alternative which could save you money on international transfers - the Wise account and card.

Join Wise today

Is Tandem Bank safe to use in the UK?

If you’re worrying - is Tandem Bank a scam? The answer to this is a definite no, as Tandem is a fully regulated and legitimate UK bank.

It has hubs in 5 UK cities, employs over 500 people and has acquired the likes of Harrods Bank in order to become the company it is today.¹

Tandem Bank is registered in the UK with Companies House. It’s authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA).¹

The FCA has strict regulations covering things like how customer identity information, card details and transaction histories are stored and protected. Linked card details are never shared with retailers when you make a purchase.

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Tandem Bank security features and technology

Tandem Bank doesn’t make information available about its security technology and anti-fraud measures on its website. So, you’ll need to contact the company to find out more.

The good news there though is that the bank has a dedicated team on hand to answer your questions over the phone, or via the chat function in the Tandem app.

Tandem Bank uses secure Open Banking technology to connect your Tandem savings account to your preferred current account. This makes it quick, easy and safe to make bank transfers into your Tandem savings account.

And when you open a savings account with Tandem, you’ll also receive Financial Services Compensation Scheme (FSCS) protection of up to £85,000. This means that you’ll be covered up to this amount if anything should happen to the bank.

Tips to stay safe while using Tandem Bank services

While banks take many steps to keep customers and their money safe, there are also things you can do to protect yourself while using banking services.

You should aim to be vigilant when using any account, card or financial app.

Here are some tips to stay safe while using Tandem Bank:

  • Keep your Tandem Bank mobile app secure - log out of the app when finished and remember to lock your phone afterwards.
  • Protect your passcode and PIN information, and never share login access with anyone.
  • Use biometric login to access your account on the Tandem Bank app (where available)
  • Be on the lookout for potential fraud and scams - especially when shopping online or making a transfer to someone you’ve never met.
  • Update the Tandem Bank mobile app when prompted - this will ensure that you have all of the latest security patches and updates.

Wise - a secure alternative for international payments

Want an account and card for secure, low cost spending worldwide? Check out Wise.

Open a Wise multi-currency account and you can send and receive money worldwide for tiny fees and the mid-market exchange rate. What’s more, you can hold and manage your money across 40+ currencies.

There’s also a Wise card for spending and cash withdrawals in the local currency in 150+ countries. You can use your card with mobile wallets such as Google Pay and Apple Pay too, for effortless and secure payments using just your phone.

If you lose your card, you can lock it with just a tap in the Wise app.

Join Wise today

Wise takes security extremely seriously. In addition to being strictly regulated, Wise uses 2-factor authentication for extra-secure transactions, has a dedicated anti-fraud team and is committed to keeping your personal data safe.

Please see the Terms of Use for your region or visit Wise fees & pricing for the most up-to-date information on pricing and fees.


Sources used:

  1. Tandem - About
  2. Tandem - FAQs - Savings

Sources last checked on date: 15-Aug-2023


*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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