FAQ

Find answers to our most frequently asked questions here.

If you don’t see what you’re looking for and have questions about your existing Tide account, just chat to us in the app.

Fees

How much does Tide cost?

We don’t charge monthly or annual fees for our current account.

You only pay for what you use:

Bank transfers 20p
Payments between Tide accounts Free
Card transactions home and abroad Free
Cash withdrawals £1
Cash deposits (through the Post Office) £1
Cash deposits (through PayPoint) 3% of the total transaction value

Will I be charged for using my card abroad?

We pass on the Mastercard wholesale rate to all our members.

Standard account charges for transfers and cash withdrawals from ATMs still apply.

Joining Tide

Can I open a Tide account?

If you’re the director of a company registered with UK Companies House, you’ll be eligible for a Registered Business account. UK-based sole traders and freelancers with a valid UK residential address who are registered with HMRC are eligible for a Sole Trader account.

For both account types, you’ll need to be aged 18 or above, have a valid UK phone number, and hold a device registered to a UK App or Google Play store.

We’re on a mission to help business owners spend less time on money admin.

However, there are a number of high risk industries that we can’t take on, as this would mean not being able to focus our time and energy on the rest of our members.

As a result and going forwards, we will not be offering current accounts to businesses in the following industries:

  • Trading of cryptocurrencies
  • Trading of precious metals and stones
  • Money services (such as foreign exchange, loan providers, money transfers)
  • Casinos, prize draws and other betting or gambling activities
  • Sale of unlicensed pharmaceuticals
  • Trading of weapons, explosives or armaments
  • Unlicensed trading and processing of scrap metal
  • Unlicensed waste management
  • Sale, import and export of used vehicles or heavy machinery
  • Escort services and other services in the adult industry
  • Bidding fee auctions
  • Unregistered charities and charities that aren’t incorporated
  • You can read more about this in our blog post: Providing financial security for our members.

    Can I apply from outside the UK?

    Yes! Applicants who are not based in the UK may apply for a Registered Business account, as long as they are Directors of a company registered with UK Companies House. In some cases, we may have to complete additional checks in order to process your application.

    Don’t forget – you’ll need to switch your App or Google Play store to the UK to download Tide.

    Do you carry out credit checks?

    No! To open a current account, we perform electronic checks (run by third-party services) to verify your identity and comply with UK anti-money laundering regulations. While these checks will not impact your credit score, they will appear on your credit report.

    What ID do I need to open an account?

    We’ll be able to verify your identity from most European National ID cards, international driving licences and passports.

    Can a charity open an account with Tide?

    Yes! All charities registered at the Charity Commission and with UK Companies House (except for those registered there as CIOs) are eligible for a Tide account.

    Does Tide offer a switching service?

    Unfortunately not – but you can use Tide alongside your existing bank account until you have fully switched over.

    Setting up

    What is my PIN?

    You can check your PIN code at any time from the app home screen – just tap the card icon and ‘Show PIN’.

    If you’d like to change your PIN, you can do so easily at most ATMs.

    When will I receive my card?

    Most of our members receive their cards within 2-4 working days. If it hasn’t arrived within 5 working days, please get in touch through the app.

    Which address will my card be shipped to?

    Your card will automatically be shipped to your trading address.

    If you’d prefer your card to be sent to a different address, just amend the trading address on your Company Details page in the app before 9pm on the day you signed up (or the following day if you signed up after 9pm).

    You can find out your trading address by following the instructions here.

    Which accounting software does Tide integrate with?

    We have recently launched our integrations with Xero, FreeAgent, ReckonOne and Sage, with other integrations to follow in the future – including Quickbooks and Cashflow.

    You can connect here.

    Can I create additional accounts for my business?

    Registered businesses can create up to 4 current accounts per company straight through the app, each of which will have its own unique account number.

    You can use these accounts for a specific expense such as marketing costs, or to save for your tax obligations.

    I have several businesses. Can I open an account for each one?

    Currently, you can open one account per mobile device. If you’d like to open an account for more than one business, you can do so on separate devices, using different email addresses.

    Can I use Tide with PayPal? Stripe? GoCardless? iZettle?

    Yes! Our Members have successfully used their Tide accounts with all of these services.

    Account features

    What are Tide’s features?

    Tide accounts come packed with smart and time-saving tools, letting you focus less on admin and more on your business.

  • Full UK sort code and account number
  • Business Mastercard, with free purchases at home and abroad
  • Automatic categorisation of your transactions, for easy accounting
  • Instant invoice payment and creation
  • Up to £150,000 of credit, straight through the app
  • We’re always looking to add new features, such as IBANs and scheduled payments – you can keep up to date with new feature releases here.

    Are there limits on my account?

    Yes, Tide accounts are initially subject to balance and transactions limits.

    You can see a full breakdown of your own account limits in the app – tap More and then Account limits.

    If you’d like to increase your account balance limits, just let us know in the app.

    Which types of payment can I make?

    All payments sent from your Tide account are Faster Payments. See here for more information on sending and receiving payments.

    Can I make international payments?

    Not yet. Payments can only be made to UK accounts, but we’re working hard to introduce international payments in the near future. Until then, you can use third-party services to send and receive international payments from your Tide account.

    To get priority access when international payments and currency accounts become available, please register your interest here.

    Do you offer overdrafts?

    Whilst we don’t offer overdrafts, we’ve partnered with Iwoca to bring you business loans – allowing you to apply for up to £150,000 of credit straight through the app, which can be used as an alternative to a traditional overdraft.

    You can apply straight through the app, on your home screen. For more information on getting credit, see here.

    Can I set up a direct debit?

    Yes! Tide supports outbound direct debits, so you can use your Tide sort code and account number to set up automatic recurring payments to come out of your account.

    If you’re asked to provide the name and address of your banking provider, you can use the below:

    Prepay Technologies LTD
    Station Square
    1 Gloucester Street
    Swindon
    Wiltshire
    SN1 1GW

    Please note that Direct Debits can take up to 5 days to become active once requested, so please bear this in mind before attempting to make payments within this time frame.

    The Direct Debit process starts 08.00 am Monday to Friday, excluding public holidays.

    Check out our Guide to Tide for a step-by-step guide on how to view and block your direct debits.

    Can I have a monthly statement?

    Yes! You can download a statement on the 4th of the following month.

    Just tap More > Legal documents > Statements, and then select the months that you’d like to download a statement for.

    Can I pay in cash or cheques?

    You can pay cash into your Tide account by taking your cash deposit and Tide card to your local Post Office or PayPoint. For more information on cash deposits, including fees and maximum deposit amounts, see here.

    Unfortunately, we’re not able to accept cheques. Some of our members choose to deposit these cheques into their personal accounts, and transfer the funds across to their Tide accounts. If you have received a cheque from HMRC, you can return the cheque to HMRC and instead request a cash transfer to be made into your account.

    Can I export my transactions?

    Yes, you can export transaction data into CSV files directly from the app – check out the Guide to Tide for more.

    Access

    Can I log in from a desktop?

    Yes! You can access your account from a desktop at web.tide.co by using the QR code scanner found within your Tide app.

    Does Tide have an API?

    Yes! Tide’s API allows developers to build applications which interact with Tide. Currently, the API may be used to access information regarding your accounts and transactions. Over time the available functionality will expand to cover a range of Tide features.

    We support authentication by OAuth 1 and OAuth 2. OAuth 2 is recommended. Obtaining access via OAuth 2 is a three step process:

    1. Your application displays a Tide authentication page, which requests the user to enter the email address associated with the Tide account to be accessed.
    2. After the email address is entered, the user must authorise access using the Tide mobile app, on the API access page (under the Settings menu).
    3. Once the authentication request has been authorised, the Tide authentication page will redirect, providing the tokens needed to access the Tide API.

    To block access by your application, the user can remove its security keys at any time from the API access page.

    Full documentation of the API is available here.

    Which devices can I use to open and access a Tide account?

    Tide runs on iOS 10 and above, and on Android 5.0.0 and above.

    Unfortunately, Tide is not compatible with Windows phones.

    Can my business partner / employees access my account?

    Currently, accounts can only be accessed by the named account holder. However, you can order up to 35 Team cards per account, which will allow your colleagues to spend directly from a designated account. For more information on Team cards, see here.

    We’ll soon launch multi-user access, which will enable other team members and accountants to access with custom permissions. If you’d like to join the priority access list, please register your interest here.

    Support

    I’m having trouble scanning my ID.

    We accept most national driving licenses, ID documents and passports, however some older versions of ID documents may not be accepted.

    If you’re having difficulty scanning your ID, please ensure that you are taking a clear photo on a flat surface, in a well-lit environment. You’ll also need to grant Tide access to your camera (usually you’ll receive an in-app prompt, otherwise you can update your settings).

    Still having trouble?

  • Ensure the image is in focus. We’ll only be able to validate your ID documents if we capture an image that’s in focus. By default, your camera will try to focus on the document, which may take a few seconds. Alternatively, tap the preview screen to force the camera to re-focus (currently Android-only).
  • Avoid low-light conditions. In the absence of good lighting, motion blur can prevent the capture of a sharp image. Ensure the ID is well-lit location when capturing the image for best effect.
  • Avoid glare. Overhead lights and direct sunlight can illuminate the holograms that appear on some ID documents, obscuring identity details. Avoid bright light sources directly overhead.
  • Frame the photo. We need to capture a photo of the entire ID document in order to complete validation checks, not just the text containing identity information. Make sure the camera is capturing the entire ID so the edges align with the dark grey border in the image preview. Avoid taking photos of the ID from an angle.
  • I’ve lost my card.

    Sorry to hear it! You can freeze, cancel and reorder a card directly from the app – just tap the card icon on your homescreen.

    If you don’t have access to the app, please call +44 (0) 3331210266 to have your card cancelled.

    My phone is lost or broken.

    Sorry to hear it! To freeze your card and account, email us at hello@tide.co.

    You can regain access your Tide account from another mobile device by going through account recovery. If you can’t receive text messages from your registered phone number, you can enter another number to verify your identity and regain access to your account.

    • Re-download the Tide app
    • Tap Log In on the app, and enter the email address linked to your Tide account
    • Enter a mobile number that you can receive text messages to

    Is my money safe? Will I have FSCS protection?

    Yes. Tide’s banking services are provided by PrePay Solutions, who are regulated by the FCA via an e-money license.

    Our members’ funds are kept in a protected Safeguarding account, meaning that they can never be loaned out to other customers and, as such, are not exposed to risk. As your funds will never be reinvested, they do not require FSCS protection (which is only required where banks reinvest and take risks with your money).

    In the unlikely event of Tide’s insolvency, the service would continue to run as normal under management of PPS (our card issuer and account provider). Funds will be available to draw down at all times as they are safeguarded according to the rules that are stated above in this post.

    Can I change my company name?

    You can update your trading name in the app by tapping More and then My Organisation. If your Company name has changed with UK Companies House, please let us know in the app to have it updated.

    Can I speak to someone over the phone?

    Yes! If you’d like to speak with our Help team, just send us an in-app message or an email to hello@tide.co. Please include a convenient contact number and time to speak, and someone from our Help team will reach out to you.

    I’m expecting a payment - when will it arrive?

    We process inbound and outbound Faster Payments files every half hour.

    Some banks can take up to two hours to process Faster Payments. Therefore, depending on the originating/receiving institution’s processing time, Faster Payments can take up to 2h30 min to be processed.

    If you’re expecting a BACS transfer, this will take up to 3 days to reach your account.

    CHAPS payments received into our system before 3pm will be processed on the same working day between 4:10pm and 7:10pm. Any payments made/received after this time will be processed on the next working day from 4:10pm.

    If your funds have not appeared within these timeframes, please let us know in the app.

    Can I switch from a sole trader account to a registered company account?

    Unfortunately not. If you’d like to switch between a sole trader and registered company account type, you will need to close your existing account and open a new one.

    Can I partner with Tide?

    Yes! We are actively partnering with organisations that help business owners – if this sounds like you, please visit our Partners page.

    What is Tide Preview? How can I join?

    Tide Preview is our beta testing programme, where members can register to be the first to test our new features before they’re released publicly.

    We’re always looking for new members to join our Tide Preview community! If you’d like to join, please complete this form to get priority access to our upcoming features.

    Need help navigating the app? Check out our Guide to Tide.

    Our Guide to Tide is here to help you make the most of your Tide account, with step-by-step guides for the various features within the app.

    Click on a link to view information for a specific topic:

    Your Account

    Payments and Transactions

    Invoicing

    Support