TIDE SMART PLAN

The interest rate applicable to your Tide Instant Saver Account is a variable rate and is equal to the published Bank of England Base Rate (gross) minus a certain percentage, determined by Tide (the “Tide Margin”). The current Tide Margin can be found in the table below. The currently applicable Bank of England Base Rate is 3.75% (gross). The applicable Bank of England base rate can be found here: https://www.bankofengland.co.uk. 

As part of your Tide Smart Membership Plan, you receive a preferential interest rate on your Tide Instant Saver deposit as per the table below:

On balances up to £100,000 you’ll earn interest on the whole balance. If your balance is above this amount at any time you will not earn interest on the excess amount.

“AER” stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded once each year. “Gross” is the basic annual interest rate without considering compounding.

Interest is calculated daily, based on the balance available on your Tide Instant Saver Account at the end of the day, and paid monthly into your Tide Instant Saver Account on the first day of the month following the month in which the interest is earned.

Market conditions may result in negative interest being applied to your Tide Instant Saver Account. If this happens, instead of earning interest on the funds in your account, Tide will deduct interest from your account.

Yes. As the interest rate is variable it can move up or down. 

The interest rate can change at any time for the following reasons:

1. Tide can change the Tide Margin at any time and this will impact the interest rate you receive. Please also refer to the Tide Instant Saver Terms. 

• If we decide to increase the Tide Margin and your interest rate will decrease as a result, we will give you at least 14 days’ notice in writing before the change takes effect.

• We don’t have to give you prior notice if your interest rate increases because we decrease the Tide Margin. However, we will notify you about the change within 30 days of it taking effect.

2. In addition, each time the Bank of England Base Rate changes, the interest rate applicable to your Tide Instant Saver Account will also automatically change, in line with the increase or decrease in the Bank of England Base Rate. Please note that this might happen in addition to changes due to changes in the Tide Margin. 

• The change will take effect from the day the Bank of England announces the change. 

• We do not have to give you prior notice of the change, but we will notify you about the change within 30 days of it taking effect. 

• The Bank of England Base Rate may be negative, which may result in a negative interest rate applying to your Tide Instant Saver Account.

For Tide Members on the Tide Smart Membership Plan the estimated balances after 12 months for deposits of £1,000, £100,000 and £200,000 are as follows:

The estimates are based on:

• the Bank of England base rate being 4.00%

• no further deposits or withdrawals being made and no changes to the interest rate taking place

• no further changes in Bank of England rates and the Tide Margin

* A 0.00% AER interest rate has been applied on the amount above £100,000.

The projections are for illustrative purposes only and do not take into account your personal circumstances.

Account holders must be a UK resident aged 18 or over.

The account can be opened in the Tide app or on Tide.co.

You need to have an active Tide Business Account and subscribe to the Tide Smart Membership Plan for this version of the Tide Instant Saver Account. Your Tide Business Account will serve as your “Nominated Account”. You cannot use an account provided by another bank or financial institution (a “Non-Tide Account”) as your Nominated Account for this version of the Tide Instant Saver Account. You may only have one Nominated Account.

The minimum opening deposit is £1.

You can only add funds into your Tide Instant Saver Account by transferring them from your Nominated Account.

Financial or other quantitative limits might be applied to your Tide Instant Saver Account in accordance with relevant risk assessment and policies. We can change these limits at our discretion at any time depending on our ongoing risk assessment of you or to comply with our regulatory obligations. You can contact our Member Support team at any time to ask about the limits applicable to your account or to request a review and increase of your limits.

Once opened, your account can be managed 24/7 online at tide.co or via your Tide app. You can also contact the Member Support team by email at hello@tide.co.

You can close your Tide Instant Saver Account at any time.

Yes. This is an instant access account. No notice for withdrawals is required and withdrawals can be made at any time.

There is no limit on withdrawals.

Withdrawals from your Tide Instant Saver Account can only be made online and into your Nominated Account.

This version of the Tide Instant Saver Account is available for new Tide Members joining after 1st April 2025.

Depending on personal circumstances, you may have to pay tax on the interest to HM Revenue & Customs. Please seek professional tax advice if you are unsure about your tax position.

Changing your Tide Membership Plan would have an effect on the interest rate applicable to your Tide Instant Saver Account. Please see the FAQs for details. You will be presented with a new version on this summary box prior to switching your Tide Membership Plan.

On termination of your Tide Instant Saver Account any interest accrued up to the termination effective date will be transferred to your Nominated Account. Before your Tide Instant Saver Account can be closed, you need to transfer any balance remaining in your Tide Instant Saver Account to your Nominated Account.

If you have set up a Non-Tide Account as your Nominated Account and you close your Nominated Account before or at the same time as your Tide Instant Saver Account, you need to provide us the details of another UK bank account held in your name to which your remaining Tide Instant Saver Account balance can be transferred. Our Member Support team will contact you to confirm where that refund should be made to.