Tide is a new challenger bank headquartered in London. It is a digital-only bank offering business banking services to companies registered in the UK.
Tide is a new challenger bank headquartered in London. It is a digital-only bank offering business banking services to companies registered in the UK.
Tide is a new challenger bank headquartered in London. It is a digital-only bank offering business banking services to companies registered in the UK.
The primary focus of the company is to help business owners manage their money more time effectively.
Customers who open a business current account with Tide receive a full UK sort code, account number and business Mastercard. Companies can add up to 35 cards per account for employee usage. IBANs and scheduled payments are due to be added to Tide’s service portfolio soon.
Anyone who is the named director of a company registered with Companies House in the UK can apply for a Tide account. Freelancers can also apply, provided they have a UK address and are registered with HMRC. Account-holders must also be over the age of 18 and have a valid UK phone number.
Customers who are not based in the UK can apply provided their business is registered with Companies House. Registered charities can also apply.
Tide has identified several sectors that it considers ‘high risk’ and does not provide services to companies in these industries. These sectors include:
Tide does not charge a monthly current account fee, but there is a £1 fee per cash withdrawal and 20p per bank transfer. All customers receive the Mastercard wholesale rate.
Tide uses two-factor authentication to keep account information safe, and customers who lose their cards can freeze and unfreeze them instantly using the app. Tide has an e-money licence issued by the Financial Conduct Authority (FCA) and complies with the rules set out by that licence.
Address:
144a Clerkenwell Road
London
UK
Telephone: 0333 121 0266
Email: [email protected]
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I opened a Tide account for one of my businesses with no issue. When I later tried to open a further account it remained pending without reasoning. When I later tried to re-submit some months later….same again. Customer service is non existent. Avoid like the plague. Clearly a data harvesting organisation with no interest in actually suppllying a service to it's banking customers!!!
Extremely poor small business bank.
– The customer service is truly shocking.
– It suffers from IT problems, glitches and poor design.
– Poor policies with lack of clarity (e.g. forced account closures).
Rather than posting replies to comments on this site “apologising”, it's a shame they seem incapable of fixing the root causes of their poor service.
I've moved my small business elsewhere with no regrets.
The fintech sector has many better banks to choose from, avoid Tide.
Monday 14h March Tide decided to close out account and the reason they gave us ‘we can cater for some businesses'. We have been trading for since 2017 and never has a problem and all of a sudden this let alone the 2 bad years with Covid. On the same day 14th March we deposited £1000 via post office. Guess what? Tide is not taking accountability nor returning money. Tide rep ‘Alice' admitted she could see the funds being deposited but they did not clear?? Where's the money? Went to post office twice and they confirmed because receipts were provided therefore funds cleared their end which is true as this has always been the case? Cooperate thieves Tide
Do not use this Bank if you run a business, look at reviews on Trust Pilot (My Full review still not resolved) You have been warned.
