Harrods Bank was a banking division of Harrods Department Store. Harrods Bank offered a broad range of banking, savings and lending products to individuals and business clients. On 10 January 2018, Tandem completed its acquisition of Harrods Bank Limited with the latter immediately renamed as Tandem Bank Limited. Tandem Bank is a new, online-only, mobile-focused bank with no branches (although with call centres). Tandem Bank provides retail banking products including current accounts, credit cards, savings, and loans.
Becoming a client of Tandem Bank Limited can be done in a few steps:
Due to regulatory requirements Tandem Bank Limited performs KYC/AML checks when establishing business relationships with a new client. While onboarding a private individual Tandem Bank Limited will ask him/her to provide the following documents: passport; proof of address. For corporate clients Tandem Bank Limited will ask to provide corporate documentation as well as information about controlling persons. Tandem Bank Limited may request additional documentation or information depending on the case. Account opening procedure is usually completed within a few minutes.
Tandem Bank Limited is the 128th largest bank in the United Kingdom in terms of total assets. In 2018 its total assets were 493,68 mln GBP, providing the bank with the market share of 0.01%. In 2018 the bank's annual profit was -13,72 mln GBP.
Tandem Bank Limited participates in the deposit guarantee scheme of the United Kingdom. This deposit guarantee scheme applies to current accounts, savings accounts, time deposit accounts made by private individuals, companies and covers up to up to 85,000 GBP per bank per depositor. Tandem Bank Limited is a member of Financial Services Compensation Scheme (FSCS) and makes its contributions into it.
Tandem Bank Limited is headquartered in London.
Tandem Bank Limited has profiles at the following social networks:
Tandem Bank Limited is authorized and supervised by the Financial Conduct Authority (reference number 204479).