Tide offers a range of three simple business current accounts for businesses of all shapes and sizes in the UK including freelancers, small businesses and scaling businesses which includes an account with no monthly fee. Below we look at reviews for the company along with the accounts they offer, how much they cost and other key things you need to know to help you decide which business bank account provider is right for your business.
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Tide Reviews
Below we look at reviews for Tide from a variety of websites. Please keep in mind that these reviews are for all of Tide’s services and so may not fully reflect their business offerings.
- Trustpilot: 4.0 of 5 based on 7,172 reviews.
- Review Centre: 1.0 out of 5 based on 1 review.
- Reviews.co.uk: 1.0 out of 5 based on 3 reviews.
Tide Business Services Plans, Packages & Prices
Tide offers three business accounts that are suitable for freelancers, sole traders, consultants, contractors, small businesses and scaling businesses. These accounts are Free, Plus and Cashback.
If you are a new company and haven’t registered yet you can register as a limited company and open an account with them all in one application at no cost as they pay the incorporation fee for you.
The Free plan includes:
- No monthly account fee
- Business card
- Optional expense cards at £5 per month
- Schedule payments
- Integrates with accounting software
- Suitable for multi-businesses that can have up to five accounts
The Plus plan in addition to the Free plan includes:
- One free expense card
- 20 free transfers in and out each month
- Priority in-app support
- Phone support
- 24/7 legal helpline
- Sub-accounts to ringfence money
- Exclusive member perks
The Cashback plan in addition to the Plus plan includes:
- Three free expense cards
- 150 free transfers in and out per month
- Dedicated account manager
- % cashback on your Tide card
Free plan charges:
- No monthly account fee
- Expenses cards £5 per month
- Transfers in and out £0.20
- ATM withdrawals £1
Plus plan charges:
- £9.99 monthly account fee
- £5 per month for additional expense cards
- £0.20 per transfer in and out after the first 20 free per month
- ATM withdrawals £1
Cashback plan charges:
- £49.99 monthly account fee
- £5 per month for additional expense cards
- £0.20 per transfer in and out after the first 150 free per month
- ATM withdrawals £1
Note plans, packages and prices were all accurate at the time of publication but may have changed since then. Please check Tide’s website for the latest information.
Tide Background
Tide is an international provider that has its headquarters in London as well as offices in Sofia in Bulgaria and Hyderabad in India. It was founded in 2015 with the mission of creating a platform for entrepreneurs and small businesses owners that would support them with their banking, financial admin and reducing paperwork.
Tide focuses its offering on businesses and providing them with a bank account. They do not offer any other products at present. They currently have over 300,000 business customers in the UK. They focus on smaller businesses as they are often under-serviced by traditional banks.
They offer their business customers account management through their mobile app and provide support through the app, although phone customer service is offered to some customers.
Switching To Tide
If you want to switch your business account to Tide, you can complete an application form on their website. Eligibility criteria apply that you will need to check first before you start the application form.
If you are a new business and have yet to register as a limited company, they can do that for you too all on one form and they will pay the incorporation fee for you.
Additional Business Services From Tide
Tide doesn’t currently offer any other services to businesses.
Tide Business Service Availability
Tide offers business bank accounts to limited companies that are registered with UK Companies House and the applicant will need to be registered as a director of the company. They also offer business bank accounts to sole traders based in the UK.
Applicants need to be over 18 years old, have a valid phone number and address, have a compatible device for their app. They have some restrictions on the type of businesses they offer their business accounts to so you should check the eligibility criteria.
Tide Business Customer Service and Complaints
You can contact the Tide customer service team through the in-app messaging or by phone if you have their Plus or Cashback plan.
Tide Business Contact
You can get in contact with Tide by:
- In-app messaging
- Email hello@tide.co
- Phone support available to Plus and Cashback customers (Monday-Friday 9am-6pm)
Website: https://www.tide.co/
Tide Business Services Pros/Cons
Pros
- Offers a plan with no monthly account fee
- Simple pricing plan
- Positive customer reviews
- Integrates with accounting software
Cons
- No branches
- Contact centre only operates during office hours and only available to some customers
- Less well-known
* Please note we have an affiliate relationship with Tide.