We will monitor your regular income and outgoings from your linked current account and calculate small amounts for you to save once a week.
We will set aside the calculated amount for you in your Autosavings and you will have two days to remove the item before it is transferred from your linked current account into your Tandem Account.
You can choose a savings level, which determines how much we calculate for you to save:
- Minimum – We’ll try to save about 5% of your regular income
- Low – We’ll try to save about 7.5% of your regular income
- Medium – We’ll try to save about 10% of your regular income
- High - We’ll try to save about 12.5% of your regular income
- Maximum - We’ll try to save about 15% of your regular income
For the safe to save rule to be active, you will need to connect your linked current account to the app using your online banking details. This read-only access is so that we can see your spending patterns and calculate how much to save.
Before we take any money, we will need to establish a link between your connected bank account and your registered debit card. This is so that we can be sure that the account we are using to calculate your Autosavings is the same account we are taking the money from.
The safe to save rule will not run if we cannot detect a regular income from your connected bank account.