Tide Expense Cards: we’re updating our company expense cards
We’ve reviewed how our Expense Cards work and, as well as releasing lots of improvements, we’ve decided it’s time to change how we charge for this service.
In this post, we’ll tell you more about the exciting updates coming soon and explain how we’ll be charging for our Expense Cards.
What’s coming soon for Expense Cards?
We’re getting ready to launch improvements to Expense Cards. Here’s a taste of what’s coming soon:
1) Grant ‘view only’ access for your Expense Card holders
This is the first update to Expense Card which we’ll start releasing in March 2021.
As the account owner, you’ll be able to invite your team-mate (via your Tide app) to use Tide. You’ll be able to send them an invite email to set up their access to be able to view their transactions.
2) Send Expense Card to the holder’s home address 📫
For security, we set up Expense Cards to be sent to your registered business address. You told us that with Covid restrictions and new ways of working, you’d prefer that Expense Cards were sent to your co-worker’s home address.
We agree – so with our next release of updates to Expense Cards, we’ll now send the Expense Cards you request directly to the home of the Team Card holder.
3) Allow Expense Card holder to manage their own card 🛠
After we’ve released view-only access for your Expense Card holders, we’ll soon after that add management features for them too.
Expense Card holders will be able to activate their own card, see the PIN, and freeze the card if it’s lost or stolen.
4) See a summary of your team’s spending 📊
You asked us for better visibility about who’s spending what and when. It’s coming – we’re improving how you view information about your team expenses so you can quickly see who’s spent what each month.
5) Set limits for Expense Cards 🚧
Lots of you asked us for this: you want more control over your company spending by setting spending limits for each Expense Card.
We’re nearly ready to release this functionality. You’ll be able to set different limits for each Expense Card – or have no limit at all.
💡 Tip: Need to limit spending on your Expense Cards right now? No problem, you can do this by using sub-accounts. Set aside an amount of money in a sub-account, order an Expense Card for that account and that’s it – spending on that Expense Card is limited to the balance in the sub-account.
6) Get notifications about Expense Card payments 📳
This is another feature you’ve asked us for – so we’re building it.
Currently, you get a notification if you make a payment on your Tide card – the main card for the account. But when we release this feature, you’ll get a notification pop up every time one of your team-mates makes a purchase using their Expense Card.
7) Allow Expense Card holder to do their own expenses admin 🧾📲
Once we’ve released view-only access for Expense Card holders, the next update will be to enable your Expense Card holders to upload their own receipts, match them to transactions, and assign spending categories.
We’re particularly excited about this improvement because it gets rid of a pesky admin job the main account holder currently has to do. Your Expense Card holders do it themselves – so you get your time back. 🤩🎉
Charges for Expense Cards
We released Expense Cards for limited companies in 2018 and in February 2020, we opened up Expense Cards to members who operate as sole traders. Since we launched Expense Cards, thousands of you have been using the cards and giving us feedback about how to improve them.
Based on your feedback, we’ll soon be launching improvements to Expense Cards (above) so it’s time to start charging a rate that’s in line with our competitors.
By charging, we’ll be able to continue building even better tools and services for small businesses.
- If you’re an existing Tide member using Expense Cards…
From March 2021, we will begin charging £5 + VAT per month for any issued Expense Cards.
- If you’re new to Tide or an existing Tide member who’s never ordered Expense Cards…
If you are a Plus member, you get one Expense Card free as part of your membership. Cashback or Premium members get three Expense Cards for free.
- If you have free Tide membership, each Expense Card you order costs £5+VAT per month. The new charges apply from 16 October 2020. There’s no change for your main Tide card.
We’ll continue to review our pricing. We’ll let you know in advance if anything changes.
Have your say
If you have questions about using Expense Cards, send us a message via your Tide app.