Greenwood2
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Post by Greenwood2 on Sept 14, 2021 13:40:06 GMT
Anyone used Atom Bank? Savings rates look good (well comparatively) but it's all App based, not yet fully convinced of App banking. Any feedback? Or alternatives for decent savings rates
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r00lish67
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Post by r00lish67 on Sept 14, 2021 14:52:06 GMT
Anyone used Atom Bank? Savings rates look good (well comparatively) but it's all App based, not yet fully convinced of App banking. Any feedback? Or alternatives for decent savings rates I do. It works very well and has been around for a few years now. Most traditional banks work in the form of apps now anyway in addition to the normal online, and they tend to be the easiest/safest to use too e.g. just a quick fingerprint/face scan to log in. Not sure if you're worried about the safety of them, but if so then consider that if they were unsafe then a thief could already choose to download the app version of your normal bank anyway, whether you personally use it or not, so that boat has already sailed really - for better or worse 
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Post by Ace on Sept 14, 2021 15:19:14 GMT
I've used Atom savings accounts for nearly 5 years now. I haven't had any complaints. Interest has always been paid on the contractual dates and transfers out have also happened on the dates set up in advance.
I don't like their app. I find it clunky and unintuitive.
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r00lish67
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Post by r00lish67 on Sept 14, 2021 15:39:48 GMT
I don't like their app. I find it clunky and unintuitive. Fair comment. Also they verify by face, which was pretty darn cool a few years ago but now has been generally supplanted by the much more easy/convenient fingerprint. Still - if they pay me 1.5% for a year fix in today's world, I'll take it.
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Post by baboonery on Sept 14, 2021 17:56:58 GMT
I had never been ‘comfortable’ with the idea of putting my money where it could only be managed using an app although I suspect that was mainly to do with my age! However, 3 or 4 years ago, I decided to dip my toe with ATOM as the rate they were offering was good enough to overcome my prejudices.
My experience since then reflects that of r00lish & Ace and I have been very satisfied with the way it works particularly in respect of the ease of opening accounts and efficiency of repayment at the end of the term. Currently in the process of opening/funding my fourth account with them.
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Post by overthehill on Sept 14, 2021 18:32:50 GMT
Atom should be fine, no issues for me. Of course, choosing a bank for a 1-5 yr deposit/bond is entirely different than choosing one for banking.
For any type of account make sure you're not unwittingly putting money into 'linked banks' and exceeding your 85k FSCS limit. Moneysavingexpert has a simple tool that lets you check. Oh and don't invest in Icelandic banks, people might not be so lucky next financial crisis!!
We've been getting banking apps rammed down our throats by all banks. Even the ombudsman is on their side as they rejected my complaint when my main bank engineered and forced my transition to their app by deliberating disabling my token card authentication and then proceeded with feeble and implausible excuses why they couldn't rectify it.
I use a seperate phone for banking and authentication apps only. People think it won't happen them but it's just herd immunity and random theory keeping them safe - a lion can only catch one deer at a time. I think most people also assume their bank will automatically refund !!
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Greenwood2
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Post by Greenwood2 on Sept 14, 2021 19:31:04 GMT
Thanks for all the responses. I will have a proper look at the App side, the rates are definitely worth thinking about. And I guess App banking is something we are all going to have to come to terms with soon.
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michaelc
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Post by michaelc on Sept 14, 2021 19:49:16 GMT
I'm happy to use phone banking apps for most things but when setting up a new transfer where the accounts numbers are available in an email, website or elsewhere, I'd much rather use the computer for copy/paste. Doing it on a phone especially for large amounts is a bit scary.
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Post by df on Sept 14, 2021 21:11:14 GMT
I had never been ‘comfortable’ with the idea of putting my money where it could only be managed using an app although I suspect that was mainly to do with my age! However, 3 or 4 years ago, I decided to dip my toe with ATOM as the rate they were offering was good enough to overcome my prejudices. My experience since then reflects that of r00lish & Ace and I have been very satisfied with the way it works particularly in respect of the ease of opening accounts and efficiency of repayment at the end of the term. Currently in the process of opening/funding my fourth account with them. I was reluctant when all banks started pushing for apps, but Al Rayan broke my habit by scrapping on-line access... later RBS and NatWest offered a pound pm for using their apps and I found it very convenient tool for what I need from these accounts.
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