Tandem Bank launches new Green Instant Access Saver offering

By Megha Bhattacharya

Tandem Bank announced the launch of a new Green Instant Access Saver in a bid to strengthen its position as a green digital bank. In a recent survey carried out by the bank, almost two-thirds of customers said they would switch banks if they were more environmentally friendly. The new website allows customers to download the app and leverage its saving option with an interest rate of 0.5% AER.

Ricky Knox, Co-founder and CEO of Tandem Bank, commented, “We’re on a mission to educate and empower consumers about green finance. We’re making it simpler and quicker for them to achieve sustainable living, both with respect to the environment and their money.”

“I originally founded Tandem with the number-one intent of building ‘The Good Bank’ – one that puts customers’ needs first and takes the stress out of money management. The launch of the Green Instant Access Savings Account and our other green products and services that will follow suit, demonstrate our commitment to building ‘The Good Green Bank’, one that enables customers to understand and reduce the environmental impact of their finances and help to create a more sustainable planet for us all”.

According to Tandem, it will soon be launching new green products and services including Green Mortgage solution. The new development follows the acquisition of Allium last year. Allium has already provided loans to thousands of homeowners who were looking to improve the environmental credentials and energy efficiency of their homes which account for 13% of the UK’s total CO2 emissions.

Tandem offers savings, mortgages and loans with an aim to help customers green their properties, and their lives. It is authorised by the Prudential Regulatory Authority and regulated by the Prudential Regulatory Authority and the Financial Conduct Authority.

Recently, European financial API provider Truelayer announced a partnership with the challenger bank Tandem in a bid to facilitate account aggregation and support the Bank’s customers to connect and synchronise their accounts with other financial institutions directly into their Tandem app.