Is there eligibility criteria on the Card Reader product?

As part of Tide’s ongoing efforts to prevent fraud and protect our existing members, there may be occasions when restrictions are placed on who can use the Tide Card Reader.  Access to this feature may be restricted due to factors such as:

To check your limits, just tap ‘Payments’ > ‘Details’ > ‘Account Limits’, in the Tide app

• Nature of your business

• The size of your business

• The number and frequency of transactions you undertake with your Tide account

We’re on a mission to help business owners with secure payment acceptance methods. It’s a balancing act though, certain company types are more complex to onboard. We hope to broaden this scope as we grow, but currently, we’re unable to sign up the following types of companies but not limited to:

• Fetish productsThis is the maximum amount of money you can hold in one of your Tide Business accounts and your balance exceeds this limit, you won’t be able to make any Outbound Payments. This can happen if you’ve received more money in your account than the limit allows.  To start making payments again, you must request a limit increase - the quickest way to do this is by going to ‘Payments’ > ‘Details’ > ‘Account Limits’ > ‘Increase account balance limit’, in your Tide app.

• Content: Books, magazines, audio, videos, websites, streaming services and other content formats deemed offensive or of a sexual natureThere’s a limit to how much money you can send via bank transfers, in a month from all your Tide accounts combined. For multi-business users - the limit applies to each business, separately. If the amount transferred from your main Tide business account, and any Additional Business Account within the same business exceeds the monthly transfer limit, you won’t be able to make outbound transfers for the remainder of the month. Transfers to Additional Business Accounts you might hold under the same business will not count towards your monthly transaction limits. You can see your monthly transaction limits by going to ‘Payments’ > ‘Details’ > ‘Account Limits’, in the Tide app, or while you’re setting up a payment - they’re displayed right below the ‘transaction amount’ box.

• Escort services and other services in the adult industry If you make a transfer to another account, and it exceeds your per-transaction limit, you won’t be able to proceed with the payment. If you need to make a payment above this limit, you must request a limit increase. Transfers to Additional Business Accounts you might hold under the same business will not count towards your monthly transaction limits.

• Financial service or money service business.

• E-wallet or e-money that can be monetised, re-sold or converted to physical and digital goods and services or otherwise exit the virtual world

• Credit repair and credit protection business

• Buy now pay later / Instalment payment methods

• Bearer share entities and binary options

• Independent or unlicensed financial advisors

• Insurance sales and services (life)

• Money transfer & remittance businesses

• Payroll, invoice & business services

• Provider or seller prepaid access/stored value

• Marketing related services

• Airlines and Cruise Lines

• Cloud storage, VPN, file sharing, (high-risk) cyber lockers

• Animals and wildlife products classified as endangered or protected

• Bail bonds and bankruptcy lawyers

• Bidding fee and penny auctions

• Certain social media business (e.g. click farms)

• Casual dating services

• Direct Marketing – Inbound teleservices, outbound telemarketing and travel-related arrangement services, Insurance services, catalog merchants, door-to-door sales, Multi-level marketing

• Governmental services, such as embassies or consulates

• Hazardous materials (B2B and B2C)

• Intravenous therapy or Medical benefit packages

• Key-entry telecom merchant

• Live-streaming Services with in-app currency and donations

• Mail order spouse or international match-making services

• Pawn shops

• Political, religious or Social Campaigning

• Drugs, and tools specifically intended for the production of drugs, drug paraphernalia, illegal drugs, substances designed to mimic illegal drugs and / or other psychoactive products

• Gambling services

• Products or services specifically offered or intended to be used to create, produce or grow drugs or drug ingredients

• Pharmaceuticals, prescription medicine and medical devices (including animal pharmaceuticals)

• Tobacco, smoking supplies, e-cigarettes, e-liquids, vaping liquid, vaping accessories

• Trade of fireworks, flammable or radioactive materials

• Trade of weapons, ammunition, military arms, explosive devices and firearm parts

• Cryptocurrency exchange

• High-risk securities

• Security brokers /investments of any kind including the purchase of Third-party Payment Processing such as aggregators, digital wallets, Payment Fac, Payment service companies.

• Decryption and descrambler products and services, devices designed to block, jam or interfere with cellular and personal communications