Find answers to our most frequently asked questions and how to contact our Member Support team.
Contact our Member Support team in the app or by email
If you have any questions or feedback at hello@tide.co
Tell us your ideas and suggestions via our feedback form
Automated service to report a card lost or stolen, please call: +44 (0) 333 121 0266
We don’t accept cheque deposits at the moment. However, we understand that cheques aren’t going away any time soon. In 2022, we’ll look into smart ways to process cheques and will contact you when we’ve put these in place.
HM Revenue and Customs (HMRC) is one of the most common issuers of cheques. If you’ve received a cheque from HMRC, you can return it and request a direct bank transfer instead.
In instances where your account is being closed, any remaining funds will be returned to you by bank transfer only. We don’t issue remaining balance cheques at this stage.
Tide accounts come packed with smart and time-saving tools, letting you focus less on admin and more on your business.
That’s just the beginning! You can see more on our features page.
That will depend on whether you’re a sole trader or a registered company.
Tap “Accounts” from your in-app More menu to see your full account limits, or to request a limit increase.
We’ve partnered with the Post Office and PayPoint, so you can deposit cash at over 40,000 locations in the UK!
Here’s how to make a deposit:
Processing Times
Post Office deposits will be credited to your Tide account within a few minutes.
PayPoint deposits will show in your account after about 10 minutes.
Fees and Limits
The Post Office fees are:
There’s a 3% fee on the total deposit value at PayPoint.
At the Post Office, you can make monthly cash deposits of up to £25,000 and a yearly deposit of up to £300,000 (subject to transaction limits controlled by Post Office branches). Other currencies aren’t supported at the moment.
At PayPoint locations, you can deposit between £10–500 each day. Other currencies aren’t supported at the moment.
The fee is automatically deducted from the deposit at the time of processing.
You can deposit cash at any Post Office branch in the UK. If you’re having any issues, you can show them this FAQ.
Yes! You can download a statement on the 4th of the following month.
Just tap More > Transactions > Statements, then select the months that you’d like to download a statement for.
You can export transaction data to CSV files directly from the app – we offer a few different formats to best suit your accounting needs.
The export button is located in the top right corner of your accounts page, directly under the card icon.
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:
You can read more about this in our blog post: Providing financial security for our members.
Yes.
If you have a ClearBank account, then eligible deposits, up to £85,000*, are protected by the UK Government’s deposit guarantee scheme, the Financial Services Compensation Scheme (FSCS).
If you have an e-money account, then the funds in your account are stored and protected. With an e-money account, your money is never invested or loaned out and is safeguarded in accounts that keep your money separate from the money we use to run Tide. As your funds are safeguarded, FSCS protection does not apply.
*Eligible deposits with ClearBank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. This limit applies to the total of any deposits you have with ClearBank. Any total deposits you hold above this limit are unlikely to be covered.
With a bank account, eligible deposits will be protected up to £85,000* by the Financial Services Compensation Scheme (FSCS).
E-money accounts store your money in electronic form which can be used to make payments. Your money is held in a Safeguarding Account. This means your money is ring-fenced from the funds we use to run Tide.
*Eligible deposits with ClearBank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. This limit applies to the total of any deposits you have with ClearBank. Any total deposits you hold above this limit are unlikely to be covered.
There are 3 ways in which Tide members can identify if they have a PPS or ClearBank account:
Yes!
There are currently two different types of accounts with Tide: an e-money account, provided under the license of Pre-Pay Solutions Limited and regulated by the FCA, and bank accounts provided by ClearBank, which are also regulated by the FCA.
The funds in e-money accounts are stored and protected. With an e-money account, your money is never invested or loaned out and is safeguarded in accounts that keep your money separate from the money we use to run Tide. As your funds are safeguarded, FSCS (Financial Services Compensation Scheme) protection does not apply.
We’re in the process of moving Tide accounts from PPS e-money accounts to ClearBank FSCS protected bank accounts. In the coming months, you’ll have the option to update your account, we’ll get in touch when this is available.
We’ll be able to verify your identity from most European National ID cards, international driving licences and passports.
No, Tide isn’t a bank.
Tide is a business financial platform and the leading provider of digital business banking services in the UK! We are regulated by the Financial Conduct Authority (FCA) and offer e-money accounts, provided by PrePay Solutions (PPS), as well as business bank accounts, provided by ClearBank.
We believe that this model gives us the opportunity to provide a wider range of products and services to our members, helping them to save time (and money) on their financial admin.
On-boarding timeframes vary depending on the types of applications we receive, but more than half of our new members this year opened their bank account in less than 10 minutes.
To be exact, 53% opened their accounts in under 10 minutes, 70% in under 60 minutes, and 81% within 48 hours. Even if your business is a bit more complex and we can’t complete your application right away, if you meet our eligibility requirements it’ll still be far quicker than most high street banks!
Saving our members time is at the core of what we do, so we’re always working to optimise and improve wait times. You can read about why we sometimes need a little more information on our blog.
Unfortunately, registering charities requires us to follow a different set of rules which would take us away from our main mission as a company. We may support these types of organisations in the future, but we’re currently focused on offering the best experience for small and medium-sized businesses.
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.
Yes! However, you must have a UK residential address. Applicants who are not based in the UK may apply for a business bank 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.
Unfortunately not – but you can use Tide alongside your existing bank account until you have fully switched over.
Tide runs on iOS 10 and above, and on Android 5.0.0 and above.
Unfortunately, Tide is not compatible with Windows phones.
Email us at hello@tide.co to find out how we can help. Please include in your message:
We want Tide to be accessible to all small business owners. If you have suggestions about how we can improve Tide, please email us to let us know.
To access your account on a new phone, or if you re-install the app after deleting it, you’ll need to complete a quick account recovery process to verify your identity again.
If you’re restoring the apps linked to your previous device, you’ll just need to delete and re-install the Tide app. For security reasons, entering your passcode on a ‘restored’ version of the app won’t work.
To begin the account recovery process, open the app and tap “I already have an account” at the bottom of the screen.
Yes. On a laptop, tablet or desktop, go to web.tide.co and follow the instructions. To log in, you’ll need to have your mobile with your Tide app with you.
Not yet, currently accounts can be accessed only by the named account holder.
However, you can order up to 35 Expense Cards per account, and grant your colleagues or accountant Read Access.
Full multi-user access is on the roadmap.
Yes!
Production and sandbox APIs are available via Open Banking Developer Portal.
Production and sandbox APIs are available via Open Banking Developer Portal.
What does this mean for Tide members?
Members will be able to link third party financial tools directly to their Tide app by using Open Banking services. You’ll be able to make payments and see your account balance using linked third party apps, and grant access to time saving accounting tools!
Who can integrate with the Open Banking APIs?
Our Production API can be accessed by any authorised TPP who has enrolled on the OBIE Directory and has production Open Banking or eIDAS certificates. Alternatively TPPs may also integrate via our trusted TSP ‘Yapily’.
Our API Sandbox contains a full simulation of our APIs, without connecting to any real customer accounts. Any developer can access the Sandbox using their own self signed certificates.
Currently, we support the following browsers:
When you go abroad, our standard fee of £1 to withdraw cash at an ATM will apply.
As well as ATM withdrawals, your card will also work for chip and pin transactions in most countries. However, you won’t be able to use the mag stripe* in the countries listed below:
(*The mag stripe, or magnetic strip is a type of security that was common in the UK prior to the introduction of Chip and PIN. It works by taking information held in the black strip on the back of the card to make payments.)
You won’t be able to use your card in the countries listed below:
If you need to transact in these countries, get in touch via the app and speak to our Member Support team.
Should I carry another card?
Your card should work abroad, but we always recommend taking a backup so you have options while you’re travelling.
Safety & Security
We have fraud monitoring systems in place in the UK and internationally for our members’ protection. These systems may sometimes block certain payments if they look fraudulent, including transactions abroad. If you’re having trouble with a transaction or a payment is wrongly declined, please get in touch with our Member Support team via the in-app chat.
We don’t charge monthly or annual fees for our current account.
You only pay for what you use:
| Bank transfers (in or out) | 20p |
| Payments between Tide accounts | Free |
| Card transactions home and abroad | Free |
| Cash withdrawals | £1 |
| Cash deposits (through the Post Office) | £2.50 for deposits up to £500 or 0.5% of the total deposit amount for deposits over £500 |
| Cash deposits (through PayPoint) | 3% of the total transaction value |
When you spend money abroad with Tide, or online in other currencies, Mastercard’s exchange rate will apply. We don’t charge any additional mark-up or fees on top of this.
Our standard fee of £1 to withdraw cash from an ATM will still apply.
Mastercard’s own exchange rate may vary from that of the European Central Bank’s daily exchange rate. This is because Mastercard set their own rate, rather than applying the ECB rate. The ECB is the central bank of the 19 countries which use the Euro. Daily ECB exchange rates are published based on an average of the rates of European banks. Tide has a 0% mark-up on top of the ECB rate.
You can use Mastercard’s Currency Conversion Calculator to work out the daily rate for a transaction.
If you’re using your Tide card to pay for goods or services in or from other countries, or to withdraw cash abroad, we recommend you opt to be charged in the local currency. This is because our Mastercard rate is generally far better than the conversion rate a merchant or ATM will charge. Remember, some ATMs charge an extra fee for using their machine.
All GBP payments sent from your Tide account are made as Faster Payments.
You can make payments as:
Yes, you can set up outbound Direct Debits to collect invoice payments from your customers.
If you’re asked to provide the address of your banking provider, you can find it in your Tide app by tapping More > Transactions > Direct Debits.
Once requested, Direct Debits can take up to 5 days to become active. The Direct Debit process starts early in the morning, Monday to Friday, excluding bank holidays. Please make sure that you have sufficient funds available in your account the day prior to the Direct Debit being taken.
A ‘scheduled payment’ is a recurring or one-off payment from your account where you specify how much and when to send the money.
This is different from a transfer when you send money straight away.
‘Standing orders’ are recurring scheduled payments, for the same amount, with a frequency you choose.
You can set up scheduled payments in your Tide app and Tide on web.
At Tide, we call standing orders and future payments ‘scheduled payments’. You can set scheduled payments up on a weekly, monthly or one-off basis.
It’s easy to set up a scheduled payment. In your Tide app, tap Pay > Scheduled payments > Schedule new payment. On Tide on the web, go to Account management > Scheduled payments.
There’s no cost to set up a scheduled payment. The transfers are charged at the normal rate of 20p per outbound Faster Payment, unless you’re a Tide Plus or Cashback member and you’re within your free transfer allowance for the month.
You can schedule one-off payments up to one year in advance. Weekly and monthly scheduled payments can be set up to start from the same day you create the payment, and up to a maximum of one year in advance.
Your usual account limits apply to scheduled payments. Check your account limits in your Tide app by tapping More > Accounts. If you need to transfer more than your limit allows, please tap Support in your Tide app to send us a message requesting a limit increase.
To change a future-dated payment or standing order, you’ll need to delete the existing one and set it up again.
It’s easy to view and delete payments you’ve set up:
In your Tide app:
Via Tide on the web:
You can schedule one-off payments up to one year in advance.
Weekly and monthly standing orders can start on the same day or any date up to one year in advance.
Transfers and future-dated payments from your Tide account are sent as Faster Payments.
If you set up a transfer, the payment should arrive in your payee’s account within minutes. This will depend on where you’re sending the money. Some banks can take two hours or more to process Faster Payments so it might take up to four hours to arrive with your payee.
If you’ve set up a transfer and it still hasn’t arrived after four hours, message us and we’ll do our best to help. In the app, go to Support to send us a message.
Good to know: Tide to Tide transfers are instant.
If you’re expecting a payment and the money hasn’t arrived within these timescales, let us know and we’ll do our best to help. In the app, go to Support to send us a message.
Not at the moment, unless you have a Tide International Currency Account (which we no longer offer to new members). We’re working hard to offer international payments to our members with an FSCS-protected ClearBank account in the near future. We’ll contact you when this feature becomes available.
In the meantime, you can use third-party services to send and receive international payments from your Tide account.
No. There’s no guarantee your transfer will be directed to us if you’re using an online IBAN generator, it’s very risky and we wouldn’t recommend using this method under any circumstances.
Tide’s virtual office address service can only be subscribed to when incorporating a company through our company formations service.
The virtual office address can be used as:
If we successfully incorporate your company, but have been unable to offer you a Tide account, then your virtual office address subscription will be held directly with Hoxton Mix and not through Tide. Hoxton Mix will contact you directly, however you may be asked to change your registered office address and to stop using their service. This is at their discretion.
This is outlined in our virtual office address Key Facts Document (which forms part of the Hoxton Mix Virtual Office Address Terms and Conditions).
Companies House official registered office address and correspondence address for the director opening the account
Legal address for HMRC correspondence
Same day mail scanning to your email
A professional and stable business address, even if you change office location or move to new regions
Work from anywhere as long as you need while having same-day access to your mail at your fingertips
Protect your personal address from being on the companies house record and incorporation certificate
The service is only available to Tide members who register their company and sign up for a Tide account through our Company Formations service.
Each month, we collect the payment on the day of the month your company was incorporated. For example, if your company was incorporated on 12 July, your first payment will be taken on 12 August as payment in advance for 12 August to 11 September; then, your next payment will be collected on 12 September as payment in advance for 12 September to 11 October.
If you are on yearly billing, you will be billed on your anniversary date.
You can cancel your subscription for your virtual office address at any time by messaging us in the Tide app. We’ll email you to confirm we’ve cancelled your subscription. Before we can begin to process your cancellation request, you must first give us an alternative address for your registered office and correspondence address. It is your legal responsibility to inform HMRC and Companies House of your change of address prior to contacting us.
If you cancel mid-month, you won’t receive a refund for the remainder of the month. Processing your cancellation can take up to three days so to avoid being charged for the following month, please request your cancellation a minimum of four days before your payment date.
From the date you cancel, all mail sent to the virtual office address will be returned to the sender, so you must update your details with Companies House and HMRC before cancelling. If you cancel your subscription, you can’t re-subscribe via Tide. However, you may set up another subscription by contacting our provider Hoxton Mix directly.
Yes, you can cancel your subscription anytime, by messaging us in the Tide app. We’ll email you to confirm we’ve cancelled your subscription. Before we can begin to process your cancellation request, you must first change your address with Companies House. Then once complete, you will need to give us this new address for your registered office and correspondence address. It is your legal responsibility to inform HMRC and Companies House of your change of address.
No, if you cancel mid-month, you won’t receive a refund for the remainder of the month. Processing your cancellation can take up to three days so to avoid being charged for the following month, please request your cancellation a minimum of four days before your payment date.
To change your registered office address with Companies House, you must complete an AD01 form. You can find details on the Companies House website. You must tell Companies House within 14 days of the change taking place.
Registered businesses can create up to 4 current accounts per company from your more section in the app, each of which will have its own unique account number.
You can use these bank accounts for a specific expense such as marketing costs, or to save for your tax obligations.
We have integrations with Xero, QuickBooks, Sage, FreeAgent, Kashflow, Crunch and ClearBooks, with other integrations to follow in the future.
Find details on how to connect on our Accounting integrations page.
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.
Yes! You can apply as many limited business bank accounts as you need, each application is subject to our standard approval criteria.
Our Multi-business feature lets you toggle between companies on the same one device – you can find instructions on setting this up on our blog.
Multi-business access is currently capped at five businesses per device – if you have more than five businesses, you can set up multi-business on an additional device.
Yes! Our Members have successfully used their Tide accounts with all of these services.
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.
Your card will automatically be shipped to your trading address.
If you’d prefer your card to be sent to a different address, you can edit your trading address by tapping More > Profile in the app.
We need to get a better understanding of your business, this is for regulatory purposes and so we can build a projected financial profile, so we can better protect you from any fraud in the future.
Of course your information is your own, but the more detail you’re happy to provide, the quicker we’ll be able to verify your application.
Here’s what’s very useful to us:
Necessary
Also helpful
If we’ve asked you for Dates Of Birth (DOBs) or addresses for yourself and/or your major shareholders*, we weren’t able to complete digital checks with the information we have.
DOBs often fail because we pull information from Companies House who don’t store the day a director or shareholder was born on, and this isn’t amended during sign-up.
Addresses generally fail because the address we’ve received isn’t a residential address, or because the resident hasn’t lived at that address for more than three months.
Here’s what we suggest:
If we’re still unable to digitally verify a given address we’ll need to see proof of address.
If we’re still unable to digitally verify a DOB, we’ll need to see a photo of valid ID.
If you or your shareholder have not been at any address for more than 3 months i.e. a foreign national new to the country, we’ll need to see a valid Biometric Residence Permit (for the UK) and proof of a foreign address.
*We see a ‘major shareholders’ as any shareholder currently holding more than 24% shares in the company.
There are a few reasons why your ID and selfie might have failed. Your ID might be expired, it might be invalid, or the picture we captured just wasn’t clear enough. Your selfie might have been too blurry or, and this is rare, we’re not sure that the person on the ID is the person in your selfie.
Here are some tips:
Here’s what we can accept:
Sometimes we might ask you for a second piece of ID, to supplement the first. This is for regulatory purposes, and we try to avoid this wherever possible.
We’ve spotted that the shareholding of your company has changed recently and that this isn’t accurately reflected in its Filing History on Companies House.
A lot of our applicants let us know that they’ve already submitted the necessary documents such as significant control updates or confirmation statements without updates.
However, we need to see a ‘Confirmation Statement (with updates)’, this is the document which explicitly details current shareholding.
Submitting a Confirmation Statement is a very quick and easy process and most of our applicants usually get back to us with 24 hours to say this has been completed.
Once this is done, we can verify the correct shareholders.
We weren’t able to automatically verify your details during on-boarding. If you’re sure we should be able to verify your full name against your address, then feel free to reiterate your address for us – there may have been a small error the first time round.
If not, then here’s what we can accept:
Strong
Weak – we’ll need to see two separate proofs
You can send through photographs of the full document or PDFs if appropriate. Unfortunately, we cannot accept scans or photocopies, screenshots.
In some cases, we may need to ask for additional evidence that your business is established.
Here’s what we’re looking for:
If you don’t have any of the above, feel free to send what you do have. We’ll definitely consider it but will probably also ask for something below.
Alternatives:
If you’re supplying alternative proofs, we may ask to see more than one.
If you’re sending a photo of anything make sure to send a clear photo of the whole document.
*Your social media page(s) must indicate a clear history of business activity and client-base. We may ask for further proof if the page is relatively new.
We’ll be sorry to see you go, but you’re free to close your account at any time. When you close your account with us, we’ll send you a copy of your full transaction history. You should get this by email within 10 days – and we count this from the date you close your account. If you’ve closed your account and haven’t received this, or if you’ve got any questions, please get in touch with us at hello@tide.co.
We can also send you your full payment transaction history for up to five years after you close your account with us. Once we receive your request, you’ll need to verify your identity to prove it’s you, and we’ll send it by email within 7 days.
To address your negative account balance, simply top up by making a payment into the account. You can also deposit cash into your account by visiting the Post Office or a Pay point. See here for more information on cash deposits, including fees and deposit amounts.
In the event of a negative balance on your account, simply top up the account to correct the balance, as per the Tide Terms. If your account is not topped up, new outgoing payments will not be authorised.
Tide will notify you, should your balance fall below zero and we will allow you up to 5 days to top up your account. If you have not completed the top up to the account during this time, Tide will automatically attempt to top up your account by exchanging funds between any other accounts your company holds with Tide. If this is not possible we may take further reasonable action. Find out more details on our terms and conditions.
At times, scenarios such as a forced offline transaction, Tide fees or disputed chargebacks can take your account into a negative balance.
In such cases where this has happened, simply top up your account to correct the negative balance.
After every 5 contactless transactions you make with your Tide Card, for security control reasons, you will be prompted to enter Chip and PIN for the 6th transaction. Once you’ve done this, your limit of 5 contactless payments will reset.
Please note: this does not apply to payments made via Apple Pay
No, Tide isn’t a bank.
Tide is a business financial platform and the leading provider of digital business banking services in the UK! We are regulated by the Financial Conduct Authority (FCA) and offer e-money accounts, provided by PrePay Solutions (PPS), as well as business bank accounts, provided by ClearBank.
We believe that this model gives us the opportunity to provide a wider range of products and services to our members, helping them to save time (and money) on their financial admin.
Yes! We are actively partnering with organisations that help business owners – if this sounds like you, please visit our Partners page.
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 business bank account .
Sorry to hear it!
You can regain access your Tide account from another mobile device by going through account recovery.
If you need to speak to the team, you can get in touch by emailing hello@tide.co
Your account could have been blocked (paused) for a number of reasons, most commonly because we’ve seen unusual activity on your account and need to run a few checks. We do this to keep Tide and our members safe, and the checks are normally completed very quickly.
Yes! Just send us a message in the app, or email hello@tide.co with your contact number and a few details about what the call request is regarding. Our Member Support team are happy to give you a call.
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, just send us a message in the app.
You can update your trading name in the app by tapping More > Profile. If your Company name has changed with UK Companies House, please let us know in the app to have it updated.
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.
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?
We’re sorry that you’re unhappy with your experience using Tide.
So we can fully understand what’s gone wrong and to get the best possible resolution for you, please write to us with a brief description of what’s happened.
You can find instructions on how to contact us, and more information about the complaints process by visiting Tide complaints.
As part of the upgrade, we’ll move your existing balance to your new ClearBank account – so you’ll see a payment out, swiftly followed by a payment in. In your transaction history, these might look like regular Faster Payments. We understand you might be concerned if you see a transaction you haven’t made, but don’t worry – it’s just us.
You’ll also get two statements in the month of your upgrade. One will cover the first of the month up until your upgrade date, and the second will start at your upgrade date and take you up to the end of the month. You’ll be able to view both of these statements in your app.
Your usual fees for any transactions you’ve made on your e-money account will be taken before we upgrade your account, too.
We want to give our customers the best possible service so with that in mind, Tide is upgrading your Tide account from an e-money account provided by PPS to a bank account provided by ClearBank, which is FSCS protected.
These new accounts are provided by ClearBank Limited and are FSCS-protected.
You can read more about FSCS protection and what’s covered at the FSCS website: www.fscs.org.uk
Money held in an e-money account is safeguarded as set out under the Electronic Money Regulations. This means that funds held in an e-money account are kept separate from the funds of the e-money account provider and are not eligible for protection under the UK Deposit Guarantee Scheme.
In the event of the insolvency of the e-money account provider, a member’s claim for the repayment of their funds would be paid but may be subject to insolvency practitioner’s/administrator costs of distributing the safeguarded funds.
Your eligible deposits with ClearBank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
The FSCS Information Sheet which provides further details, including:
We will notify you via Email, Push notification and the Tide app with your upgrade date. We will send you a message at least 60 days before upgrading your account. If you don’t select an earlier date your account will be migrated on the date we advised.
You can upgrade your account sooner by clicking on the banner notification above your list of transactions in the Tide app. Simply select a date and time slot for us to update your account.
Please note, the upgrade may take up to 3 hours. You won’t be able to use the Tide app or log into Tide on the web during this time.
When we’ve finished upgrading your account and you’re able to log in again, you’ll get an email and app notification confirming this.
When you next log in, you’ll be able to see your new account details,
Once your e-money account is upgraded to a Tide Business Account you will be asked to confirm that you have received the FSCS Information Sheet and Terms and Conditions. The first time you log into the Tide app after the upgrade you will receive a notification asking you about this.
While you update your customers with your new account details, we’ll redirect incoming bank payments (by Faster Payments and Bacs, these will appear in your account instantly. CHAPS payments sent to your old account details may take up to 72 hours) to your new account. Tide and ClearBank disclaim any liability for losses relating to the Bulk Payment Redirection Service.
See also: How does upgrading the account affect my invoices and payments?
On the date and time slot for us to upgrade your account, the upgrade may take up to 3 hours. You won’t be able to use your Tide app or log into Tide on the web during this time.
When we’ve finished upgrading your account and you’re able to log in again, you’ll get an email and app notification confirming this.
For the time being, we’ll redirect any payments sent to your old account number and sort code to your new account. For Faster Payments and Bacs, these will appear in your account instantly. CHAPS payments sent to your old account details may take up to 72 hours.
If you have outstanding invoices or you send an invoice by mistake with your old account details, that’s fine – please note the expected timelines as listed in the paragraph above. When we can no longer offer this redirection service, we’ll message you to let you know.
You should notify everyone who pays you to let them know your new account details, so as to ensure payments are received directly into your account.
Tide and ClearBank disclaim any liability for losses relating to the Bulk Payment Redirection Service.
During the time slot you selected for your account upgrade, you will not be able to access the app or log into Tide via the web. Please note, the upgrade may take up to 3 hours. But don’t worry, we will let you know as soon as you can access your new upgraded bank account. You’ll also get an email and Tide app notification confirming completion of the upgrade.
After we’ve upgraded your e-money account to the new bank account, you’ll still have access to all your previous transactions and statements.
Yes. Your existing Tide card will continue to work before your account is upgraded and you can use the same card after you have upgraded to a new FSCS-protected bank account. For your Tide card, it’s business as usual.
When your account migrates from PPS to ClearBank, you will receive new ClearBank T&Cs, Tide Card T&Cs and Tide Platform T&Cs. These are the new T&Cs that will apply to your Tide account. You can find more information about the process for upgrading and other important information including your new T&Cs here.
Tide, in collaboration with ClearBank and PPS, allows you to use the Tide Platform through your Tide account, with the additional benefit of keeping your money in a bank account provided by ClearBank which is linked to a pre-paid Mastercard provided by PPS (the “Tide Card”).
You can read more about your Tide Card T&Cs with PPS.
With a Tide Business Account you will be able to make use of an additional security step for outgoing payment called Confirmation of Payee. We’ll let you know via Email and In-App notification when this becomes available to you. Confirmation of Payee is already active for incoming payments.
What does Confirmation of Payee mean? Where possible, when you send a payment, Tide (on ClearBank’s behalf) will ask the receiving bank to check that the recipient’s name matches the account number and sort code you have submitted. This will be done before you finalise the payment instruction and submit the payment.
We strongly encourage you to read the new ClearBank T&Cs particularly as there are some differences. ClearBank’s suspension rights are different to those in the PPS e-money account terms. Some of the new suspension rights apply where:
– Tide informs ClearBank you have not paid any monies owed to Tide on time;
– ClearBank reasonably suspects fraud or unauthorised use;
– ClearBank reasonably believes suspension is necessary to protect your Tide Business Account;
– you have not complied with the ClearBank T&Cs; or
– you are no longer able to access the Tide app because Tide has suspended or terminated your access in accordance with the Tide Platform T&Cs.
You may terminate your ClearBank T&Cs at any time via the Tide app. This will result in the automatic termination of your Tide Platform T&Cs and Tide Card T&Cs with PPS.
ClearBank will give a minimum of 2 months’ notice for any changes to the ClearBank T&Cs except where advance notice may not be possible or necessary.
If you don’t want to upgrade to a new bank account, once notified you will be able to click on the in-app banner above your list of transactions, select ‘I want to choose another date’ and select ‘I don’t want to migrate yet’.
Take a look at the sort number of your Tide account.
We’re sorry to hear that. Please message us via the Tide app or email hello@tide.co and we’ll be happy to help.
Message us via the Tide app or email us at hello@tide.co
We’ll be happy to help.
If you lose your Tide card or it’s stolen, tell us via the in-app chat. We’ll cancel the card and issue you a new one, but you’ll be able to continue using Apple Pay. When you get your new Tide card and activate it in the app, the details in the Apple Wallet are updated automatically.
If instead you freeze your Tide card, you won’t be able to use it to pay by Apple Pay.
There’s no limit. But some merchants will have their own limit for contactless payments. There are no limits for Apple Pay transactions you make in apps or in Safari.
No. If you freeze your Tide card, you won’t be able to use it to pay by Apple Pay on any of your devices.
When you unfreeze your card, you’ll be able to use it with Apple Pay again as before.
Yes – you can use Apple Pay anywhere that accepts contactless payments.
Yes. Go to the Wallet on your Apple device to add the card.
No. When you freeze a Tide card, it can’t be used to pay by Apple Pay on any device.
When you unfreeze the card, your co-worker will be able to use it with Apple Pay again as before.
Yes, Apple Pay is safer than using cash or a debit, credit or prepaid card. This is because every time you use Apple Pay to buy something, the system uses a device-specific number and unique transaction code. Your card number is never stored on your device or Apple’s servers, and never shared with the merchant.
Apple Pay also keeps your purchases private. When you pay with your Tide card via Apple Pay, Apple doesn’t keep transaction information that can link the purchase back to you. You can see transaction information on your Apple device and in your Tide app, but Apple doesn’t store this data on their servers.
Of course, you need to make sure you protect the security of your Apple device, just as you would with your Tide card.
On your iPhone, open the Tide app and click ‘Add to Apple Pay’.
Or you can open the Wallet app on your iPhone and tap ‘+’ to add your Tide card.
If you have an Apple Watch, open the Watch app on your iPhone and click ‘Wallet & Apple Pay’, then ‘Add Credit or Debit Card’.
For iPad, go to Settings, click ‘Wallet & Apple Pay’ and then ‘Add Credit or Debit Card’.
For MacBook Pro with Touch ID, open ‘System Preferences’. Open ‘Wallet & Apple Pay’ then click ‘Add Card’.
Apple Pay works on iPhones, iPads, Apple Watches, and Macs. To check if your device is compatible and where you can use Apple Pay, read the full list from Apple Support.
Yes, it’s free to add your card to your Wallet and when you pay with Apple Pay, you pay the same price you’d pay by using your Tide card.
Expense Cards can only be ordered for your team members.
Unfortunately not. The way this works at the moment, you would need to edit your team members’ spending limit for one month and remember to change it back for the next month.
Simply open your Tide app, tap More > Expense Cards, and select the name of the team member whose limits you want to change. You can do this anytime and as many times as you like.
You can order company expense cards in the Tide app.
If your team member passes our security checks, the card will arrive at your trading address within a week.
Tide Expense Cards, our company expenses cards, are £5+VAT per calendar month. You’ll be charged £5+VAT per month for every Expense Card you’ve ordered (whether you activate it or not).
The fee is taken automatically from your Tide account on the fourth of each month.
If you’re a Plus member, 1 free Expense Card is included with your membership. If you’re a Cashback or Premium member, 3 free Expense Cards are included with your membership.
Please see our Tide Terms for full details.
If you’re already with us, you’re eligible to apply. 🙂
You can order company expense cards for up to 50 team members per account.
If you have your Tide Expense Cards linked to sub-accounts, these count towards the overall account maximum of 50.
If you have more than one Tide account, you can have a maximum of 50 Expense Cards for each account.
You can activate, manage and cancel your team’s expense cards in the Tide app. Go to More > Expense Cards
If you can’t see the Expense Cards feature, go to the app store and check your Tide app is up-to-date.
The main account holder manages all your company expense cards.
Tide Expense Cards are a step towards building full team access. For now, you’ll manage your Expense Cards through the Tide app belonging to the main account holder.
As the main user, you’ll fully manage access for your team – you can freeze and cancel cards, as well as share and hold PIN codes. And of course, you’ll be able to see who spent what.
The main account holder can freeze or unfreeze individual or all company expense cards.
When you cancel an expense Card, you’ll be charged £5+VAT per Expense Card on the 4th of the following month. Any Expense Cards ordered within the same month will be billed on the 4th of the following month (there will be no further payment after that). There’s no pro-rata fee refund when you cancel an Expense Card.
Remember, if you have Plus membership, 1 free Expense Card is included.
And if you have Cashback or Premium membership, 3 free Expense Cards are included.
Not yet. We’re working on team access at the moment so your team members will soon be able to log in and look at what they’re spending.
As the main user, you’ll be able to set different levels of access for your team members.
As soon as this feature is live, we’ll email to let you know.
Login to the Tide App
Select Invoice on the bottom menu
Then tap Manage at the top right of the screen
Select Features from the menu to get to the ‘Add-on’ screen
Select Invoice Assistant Active state
Select Cancel add-on and confirm in the next screen
You can cancel Invoice Assistant at any time. If you cancel the Invoice Assistant, it will remain active for the remainder of the month in which you cancelled and you will not be due a refund for any fees charged for that month. If you wish to sign up for the Invoice Assistant again, you will need to wait until it is inactive. Remember, your Invoice Assistant subscription will renew automatically each month unless you cancel before the end of the month.
As the Invoice Assistant is billed in advance, at the time of sign-up, you will be charged immediately for the remainder of your first month. Thereafter, your subscription will automatically renew each month. Subscription fees will be billed in the first week of each calendar month. Please ensure that there are suffient funds in your account prior to this.
Yes, Invoices can be cancelled after they have been sent. In 3 quick steps, here’s how you can cancel an invoice:
NOTE: Invoices for collection via Direct Debit cannot be cancelled.
The Invoice Assistant is our Invoicing add-on. It costs £10+VAT per month and is billed monthly in advance.
To sign up for Invoice Assistant, simply go into the Tide mobile or desktop app:
Yes. Invoice Assistant is available both for Limited Companies and Sole Traders. For £10 a month + VAT, you can get:
It’s easy. Open your Tide app and go to Invoice.
Start by editing your template then click Create a new invoice.
Add items, add VAT if you need to.
Check all the details then send it to your customer.
Yes. Invoicing is free for all Tide members to use. You can create and send invoices, as well as customise them with your company logo.
Automatic invoice chasing and auto-matching, as well as two free Direct Debits powered by GoCardless per month, are available as part of the Tide Invoice Assistant feature, which costs £10 +VAT/month.
Updated: 19 February 2021
Currently, you can’t create an invoice and save it as a draft. But we’re building this! It will be ready later in 2021.
No. However we’re working on solutions so you’ll be able to edit invoices.
Your details are automatically filled in for you.
In your invoice settings, you can change your email address.
If you’re a sole trader, you can change your name and address too.
If you’re a limited company, you can’t change your name and registered address because for legal reasons, the details on your invoices must match the details we have for your business.
To change your invoice settings:
See also: How can I edit my invoice template?
Yes, it’s easy to add your own logo to your invoices.
You can then upload your logo from your files.
Currently you can’t change the template design but you can change all of these in your invoice settings:
To change your invoice settings:
Want to see how your invoice template looks?
It’s easy to edit your customers’ details. Here’s what to do:
To add VAT to invoices you create in your Tide app, you’ll need to add your VAT number to your profile. Here’s what to do:
After that, when you create an invoice, you’ll be able to choose the VAT rate for each invoice.
That’s it! Easy.
Or you could make use of the Invoice Assistant add-on for only £10/mth and the matching and chasing of invoices will be done automatically for you. You will also receive 2 free Direct Debits per month, powered by GoCardless. Tide’s Invoice Assistant is available to both sole traders and limited companies. See the Invoice Assistant terms and conditions for further details.
Updated: 19 February 2021
Currently this option isn’t available with Tide Invoicing. But we’re building it! We hope it will be ready later in 2021.
If your customer wants to pay an invoice by card, they’ll need to get in touch with you directly.
Updated: 17 January 2022
Plenty! Did you know that Invoicing was one of the first features we built for the Tide app? It’s one of our favourite features.
In 2021, our dedicated Invoicing team launched these enhancements:
All future improvements are all prioritised based on feedback from our members
Direct Debit is an automated payment method that allows you to collect payment from your customer’s bank account.
There are two main reasons why Direct Debits are a smart way for small businesses to collect payment:
You have access to Direct Debit on approved onboarding with GoCardless. If you have signed up for Invoice Assistant as a limited company or sole trader, then you will be eligible for the following:
With Invoice Assistant, your first two Direct Debits for that month will be free as part of the add-on. Your first and second uses of Direct Debit in a month will be deducted, but then refunded to you in your next billing cycleFind out more about Direct Debit and how it works.
For peace of mind for your customers, all Direct Debits are covered by the Direct Debit Guarantee. Read more about this at the Bacs website:
Bacs | Direct Debit Guarantee »
You can collect invoice payments by Direct Debit via your Tide account. This service is provided by our partner, GoCardless. Find out more:
Tide | Features | Direct Debit with GoCardless »
A Direct Debit mandate (also called an ‘instruction’ or ‘authorisation’) is the form your customer fills in to authorise your business to collect payments by Direct Debit from their bank account.
With GoCardless, who provide Tide’s service for collecting invoice payments by Direct Debit, the mandate is a simple online form.
When your customer has completed the mandate, you’ll be able to take payments automatically from their bank account. Your customer will always be notified in advance of the payment date and amount.
The Tide service for collecting invoice payments by Direct Debit is provided by our partner, GoCardless, a global leader in recurring bank-to-bank payments.
GoCardless processes billions of pounds in transactions a year and has more than 50,000 businesses around the world as customers, from small businesses to household names like energy supplier Bulb, TripAdvisor, and Guardian newspaper.
GoCardless integrates with the software businesses use every day so you have better control over payments and save time on tasks like chasing up on late or failed payments.
Read more at the GoCardless website: GoCardless | For small businesses »
Before you start to collect invoice payments by Direct Debit, first you’ll need to connect to GoCardless. It’s fast and easy – here’s what to do:
Yes – Direct Debit with GoCardless is a flexible way to collect payments. You can collect fixed or variable amounts and take one-off or recurring payments.
For each invoice you send, you can use GoCardless to choose the amount and day the payment will be collected. Your customer will always be notified in advance of the payment date and amount.
We have to charge VAT (value added tax) on the fee for Tide Plus membership.
The fee is for ‘value added’ services associated with your Plus membership, so that’s why it’s subject to Value Added Tax (VAT).
The fee for Plus membership is different from our standard fees for transactions, which are exempt from VAT.
If you’re VAT registered, you can reclaim the VAT on your Plus membership fee at the end of your accounting period.
The VAT charged on the Plus fee is the standard rate. Read more about VAT rates at the Government website:
Gov.uk | VAT rates »
Tide Plus is £9.99 + VAT per month. We charge you on the 4th of each month for that calendar month.
For your first month, you’ll be charged pro-rata, so if you sign up on the 16th we’ll only charge you for the 16th until the end of that month. Then on the 4th of the following month, you’ll be charged for the full month as usual.
Get your next month free! If you spend £7,000 on your Tide card and any Tide company expense cards in a calendar month, we’ll waive your Tide Plus fee for the following month.
With Tide Plus, you get 20 free transfers a month. This includes all inbound and outbound Faster Payments, CHAPS, BACs and Direct Debits. Please note this does not include international payments if you have an International Currency Account.
Same as always, send us a message in the app and you’ll automatically be bumped to the top of the queue.
To call us, you’ll see an option to phone us in your Support section of the app, Tide Plus phone support is available 9am – 6pm UK time. For your security, our phone support team will take a few minutes to verify your identity – just like high street banks.
We have a financial arrangement with Irwin Mitchell LLP who provide a legal helpline to our members. Trained personnel from Irwin Mitchell will help with any questions you may have. We pay Irwin Mitchell LLP for their services, they’re independent from Tide and provide impartial and confidential advice.
They’re available 24/7 365 days a year.
We’ve created Tide Cashback to give you what we believe is the best value business banking service available on the market. You get:
And unlike most cashback services, no matter what you buy with your Tide card, you’ll get 0.5% cashback. (With some providers, not all card purchases are eligible for cashback.)
Only genuine card purchases count.
Repeat purchases might not qualify.
ATM withdrawals don’t count towards your cashback.
If we find out that any cashback has been given or calculated incorrectly, we reserve the right to reclaim or deduct payments from your Tide account, including those relating to returns, exchanges or chargebacks made on your account.
It’s £59.99 a month including VAT.
The monthly fee goes out of your Tide account on the 4th of every month.
To upgrade to Tide Cashback:
You’ll be upgraded immediately. The fee for your first month is calculated pro-rata.
If we can’t collect the fee on the 4th of the month because there isn’t enough money in your account, we’ll try again every day until the end of the month.
If we haven’t been able to collect the fee, your account will be automatically downgraded and your access to Tide Cashback will end on the 1st of the following month.
Your cashback payment will go into your account within the first 21 days of the month after you earned it. The payment will have the reference ‘Tide Cashback’.
Send us a message in the Tide app to tell us what’s wrong or call your dedicated account manager directly on the contact number in-app. We’ll investigate and reply as soon as possible.
You can view and save the T&Cs here: Tide Cashback Terms and Conditions
If you have any questions, message us in the Tide app or email hello@tide.co
The Government has announced Pay As You Grow options for Bounce Back Loan borrowers to help businesses get back to regular trading. Pay As You Grow could give you more time and flexibility to pay back your loan.
Pay As You Grow options will be available to you once you start to repay your Bounce Back Loan, from 12 months after it was first approved, subject to lender’s discretion.
Using these options won’t affect your credit score, though it may influence how we assess your creditworthiness in the future and your loan may cost you more overall.
Read more about What options are available under the Pay As You Grow Scheme?
The options available to you when you are due to make your first payment after 12 months, subject to lenders discretion are:
1. If you expect to be in a better position to repay in the future
a) You could reduce your monthly repayments for six months by paying interest only.
i) This option is available up to three times during the term of your Bounce Back Loan.
OR
b) You could pause repayments for six months.
i) This option is available once during the term of your Bounce Back Loan.
2. If you’re only able to repay a smaller amount:
You could request an extension of your loan term from six years to 10 years at the same interest rate of 2.5%.
If you’re considering this option you should think carefully about your ability to repay over a longer timeframe, taking into account such things as if you intend to cease trading or retire within the revised term of your Bounce Back Loan.
Please note for all three options that the total amount you owe will go up. This is because your interest costs increase as you’re repaying your loan over a longer period.
You can use options 1 and 2 together if you need to.
The Bounce Back Loan Scheme (BBLS) is Government-backed, but not Government funded. This means the organisations that offered the BBLS had to provide the funding for the loans themselves. For banks, this was straightforward, as they have access to the Bank of England’s funds, but for non-banks, like Tide, we had to raise our own funds to lend.
The same principle applies to the Pay As You Grow Scheme (PAYG), Tide would have to finance the extension of BBLS repayment terms itself, without access to Bank of England or other Government funding. For this reason, the provision of the PAYG is down to the discretion of the lender.
Due to the nature of the way the BBLS and PAYG are funded, Tide has taken the difficult decision to not offer PAYG, as we would be unable to fund an extension for all BBLS members.
If you have more questions, tap Support in the Tide app to send us a message – we’ll be happy to help.
Reminder of your Bounce Back Loan terms and conditions
When you applied for your Bounce Back Loan, you declared that you understood that:
If you’re worried about your finances, the British Business Bank has a range of guidance and resources available to all businesses, including content on managing your cashflow and a list of independent advice services.
In addition, the Government has various options for financial support you can get for your business. Free debt advice is also available from numerous charities and non-government organisations and we’ve linked a UK Finance leaflet that provides practical information and helpful advice to businesses who are facing financial difficulty.
If you’re concerned you won’t be able to make a repayment on your Bounce Back Loan, let us know as soon as possible by emailing: collections@tide.co We’ll talk over the options and work out a repayment plan.
We’re here to help
You can also contact the following organisations for free debt advice:
All of your biometric data stays on your phone and is never shared with Tide. Behind the scenes, your phone or laptop securely communicates with Tide to let us know it’s you.
This will happen if your device only knows about one email address you use. Tap the cancel button on the biometric screen and you’ll be taken to a screen where you can add another email address. You can also try logging in with the first one again.
If you only have one email address linked to your Team access app, we’ll try to log you in automatically. To add another email address, hit the cancel button when you’re being auto-logged in to go to a login details screen, where you can add or select which login details to use.
Yes! If you’re invited with the same email address you’re already using, you’ll see a list of companies to choose from when you log in.
If you’re invited with a different email address, follow the invite link on the same device, then every time you log in, we’ll ask which login details you want to access
Head to webapp.tide.co/team-cards/login on your new phone. You’ll be able to log in with your username and password, then set up your biometrics on your new phone.
We limit how many attempts you can make on each verification code to keep Tide accounts secure. If you’re having trouble, you may have hit your limit, request a new code to start again.
There’s also a limit to how many SMS codes you can request within 24 hours. You shouldn’t hit the limit, but if you do, you can try again tomorrow.
If you don’t receive an SMS verification code and the ‘send a new code’ button hasn’t worked, there’s a chance your phone number may be incorrect.
Check that the business owner has set you up with the right phone number. They can edit your phone number in their Tide app.
Yes. Adding them with the email address they already use for Tide will make it a little easier for them to work with your account, but you can use another email address if you prefer.
To prevent a team member from viewing your account details, go to Expense Cards > More within the app. You will see a list of all your team members. Simply click on the name of the required team member and you will have an option to remove their access.
You can revoke access from their Expense Cards team member profile at any time within the app. Go to Expense Cards > More where you will see a list of all your team members. Click into the name of the member who has left and you will then be able to revoke their access.
Archiving inactive team members is coming soon.
If the device has been lost or stolen, then they should reset their password immediately. This will prevent anyone from being able to access the account from their old device.
They can log in on a new device by visiting https://webapp.tide.co/team-cards/login on their new phone.
If they can’t remember their password, you can send them a new invite from their Expense Cards team member profile.
The invite email that you send your team member is only valid for 48 hours.
You will have to re-send your team member an invite email. You can do this by going to your team member’s profile in the Team access app and selecting ‘re-send login link’
For now, the best experience for team members is on a mobile device. We only support team member access on laptops with strong authentication hardware, e.g. MacBooks with a fingerprint reader or computers with Windows Hello.
If you’re having trouble on a device with a hardware authenticator, try using Safari on iOS or Chrome on all other platforms.
We’re working on a secure way to enable login on other computers.
The Bounce Back Loan Scheme (BBLS) was a support scheme from the Government, which added to the existing support for small businesses affected by coronavirus.
The scheme has been closed by the Government, so Tide doesn’t offer it anymore.
The Bounce Back Loan Scheme (BBLS) was separate from, but similar to, the Coronavirus Business Interruption Loan Scheme (CBILS). Both loan schemes lent money to businesses via lenders accredited by the British Business Bank.
Small businesses could be eligible for both schemes, but the Bounce Back Loan Scheme aimed to help small businesses borrow smaller amounts more quickly, and with more generous terms.
You can read more about the difference between CBILS and BBLS on the British Business Bank’s website.
Like all Bounce Back Loans, you didn’t need to pay any interest for the first 12 months because the Government would pay it for you.
After that, the interest rate was fixed at 2.5% p.a.
The maximum you could borrow was 25% of your annual turnover in 2019, up to a maximum of £50,000.
No. Tide exists to support small businesses so when, in March, the Chancellor announced support for SMEs in the Budget, we immediately expressed our interest in becoming an accredited lender for the Coronavirus Business Interruption Loan Scheme (CBILS). We pursued this application until the Bounce Back Loan Scheme (BBLS) was announced in April. This scheme is much better suited to our members so we switched our application.
The Bounce Back Loan Scheme was a Government initiative open to all eligible small businesses. We believe it isn’t fair to discriminate against new customers so that’s why any small business owner could apply for an account with us, and if they wished, register interest in getting a Tide Bounce Back Loan.
We’ve gained some new members but in fact almost 90% of the businesses who joined our waiting list were existing rather than new members.
Message us by email (hello@tide.co) or in the app and we’ll be able to help.
We’re sorry you’re not happy – did you give us a chance to sort it out? Please message us in the app or by email hello@tide.co
We set out our complaints handling procedures and the rights you have to complain to the Financial Ombudsman Service in our Tide Terms.
Read more: FAQ: How do I make a complaint?
Tide Trusted Professionals is a platform for members to connect with qualified Service Partners who can help with their business needs.
To find a service for your business, simply filter by budget or location to find a list of suitable professionals. You can then make a booking with your chosen service partner and pay via our secure platform directly from your Tide account. With our Tide Guarantee, we also give you peace of mind that no payment will be released until you approve the work.
Tide’s platform does not charge any fee above the price quoted by the Service Partner for the requested services. Service Partners determine their own pricing. However, pricing is monitored during the verification process to become a Trusted Professional to ensure prices remain competitive.
Yes, We have a comprehensive process that all applicants go through before being approved as Trusted Professionals. They are evaluated against clearly defined criteria, including membership of reputed professional bodies, professional indemnity insurance, KYC, online reviews, etc. We also have ongoing quality control after Service Partners are onboarded.
Finding available Service Partners to help your business is very straightforward:
Currently, we offer the following types of services.
Tide Guarantee ensures that your card will not be charged unless the Service Partner accepts the booking. The Service Partner won’t get paid unless you approve the work.
Always pay and communicate directly through the Tide Trusted Professionals platform. As long as you stay on this platform throughout the entire process – from communication through to booking and payment – you’re protected by Tide Guarantee.
Please contact your Service Partner directly using the platform’s messaging tool to seek resolution. If the problem persists, please contact Member Support to assist you regarding the next steps.
The Foreign Account Tax Compliance Act (FATCA), which was passed in the United States as part of the Hiring Incentives to Restore Employment (HIRE) Act, 2010, generally requires that foreign financial institutions and certain other non-financial foreign entities report on the foreign assets held by their U.S. account holders or be subject to withholding tax on withholdable payments.
The HIRE Act also contained legislation requiring U.S. persons to report, depending on the value, their foreign financial accounts and foreign assets.
Common Reporting Standard (CRS) was developed in response to the G20 request for calls on jurisdictions to obtain information from their financial institutions and automatically exchange that information with other jurisdictions on an annual basis. This request was approved by the Organisation for Economic Co-operation and Development (OECD) Council on 15 July 2014. It sets out the financial account information to be exchanged, the financial institutions required to report, the different types of accounts and taxpayers covered, as well as common due diligence procedures to be followed by financial institutions.
Each country/jurisdiction has its own rules that determine tax residency. It can differ in regards to individuals and entities and it is possible for an individual or entity to be tax resident in more than 1 jurisdiction.
For more information on tax residency, please speak to your tax advisor or refer to the information found on the OECD website:
www.oecd.org/tax/automatic-exchange/crsimplementation-and-assistance/tax-residency/.
Generally, an Entity will be resident for tax purposes in a jurisdiction if, under the laws of that jurisdiction (including tax conventions), it pays or should be paying tax therein by reason of his domicile, residence, place of management or incorporation, or any other criterion of a similar nature, and not only from sources in that jurisdiction. Dual resident Entities may rely on the tiebreaker rules contained in tax conventions (if applicable) to solve cases of double residence for determining their residence for tax purposes.
For individuals, this varies considerably from jurisdiction to jurisdiction and may include multiple factors like physical presence, ownership of property, nationality, family ties, financial interests or any other factor as prescribed by the local and international laws.
A TIN is a unique combination of letters and/or numbers assigned by tax authorities to identify individuals and entities for tax purposes. You will normally find it on any letters or correspondence you receive from your tax authority (the relevant tax authority in the jurisdiction(s) in which you are a tax resident). Some authorities do not issue a TIN, however, they will often use a similar type of number which can be known by a different name e.g.:
The OECD website can be consulted for further details about the TIN or its equivalent: www.oecd.org/tax/automatic-exchange/crsimplementation-and-assistance/tax-identification-numbers
Please see the section called “What is a TIN (Tax Identification Number)” – some authorities issue an equivalent number that may be known under a different local name. The OECD website can be consulted for further details about the TIN or its equivalent: www.oecd.org/tax/automatic-exchange/crsimplementation-and-assistance/tax-identification-numbers
The International Tax Compliance Regulations require that the information collected in the self-certification form be held on record for a prescribed period of time. In addition, if you, your entity or any controlling persons are tax resident in another jurisdiction, we may be required to provide the details from the form and a few other details about your accounts to the HMRC, who in turn may pass it on to the relevant tax authorities in another country.
NFE is an acronym that stands for a Non-Financial Entity, which is any Entity other than a Financial Institution. Please kindly refer to the definitions of NFE, Active NFE, Passive NFE and Passive Income located in the glossary for further information.
If you are still unsure what the correct status is for your Entity, please speak to your tax advisor as at Tide we are unable to provide any tax advice.
Under the FATCA regulations, the term US person is defined as:
If the information provided in your self-declaration and the information we hold in our databases confirms or indicates that you are a tax resident in another jurisdiction we may be required to share the following data about you, your entity and/or controlling persons:
The account number (plus Tide’s name and identifying number), the account balance or value as of the end of the calendar year or other appropriate period, gross amount of interest paid or credited to the account during that period; and place and date of birth of individuals
The information provided in your self-certification form is valid as long as there are no changes in the circumstances relating to you or your company or its controlling persons.
However, should any of the circumstances change or where there is subsequently an indication of tax residency outside of the UK, your account might become reportable.
You are required to inform Tide as soon as possible of any changes to the information provided in your self-certification form for your account. Tide must be notified no later than within 90 days of such change.
Tide and other Financial Institutions in the industry have an obligation to collect and report certain information about the tax residency of its members or their businesses and the controlling persons where applicable. This requirement is established by the Organisation for Economic Co-operation and Development (OECD) Common Reporting Standard (CRS) and The Foreign Account Tax Compliance Act (FATCA) regulations.
In the UK, The International Tax Compliance Regulations requires Financial Institutions to carry out the due diligence and reporting obligations set out in the “relevant agreements”, which include the agreement reached between the United Kingdom and the United States to improve international tax compliance and to implement FATCA, and arrangements entered into by the United Kingdom with any other territories for the exchange of tax information for the purposes of the adoption and implementation of the Common Reporting Standard (CRS).
As we do not hold all of this information in our databases, we need your help in providing it.
Depending on the circumstances, the account may be reportable or not reportable to the tax authorities. Broadly speaking, this will depend on the tax residency of your entity, the type of your entity and the tax residency of the Controlling Persons. If there is no indication of tax residency outside of the UK, the account will typically not be reportable, however, we still need you to complete the self-certification in order to confirm the correct status.
However, should any of the circumstances change or where there is subsequently an indication of tax residency outside of the UK, your account might become reportable.
You are required to inform Tide as soon as possible of any changes to the information provided in your self-certification form for your account. Tide must be notified no later than within 90 days of such change.
For CRS: The OECD website provides more information about the CRS and the jurisdictions taking part: www.oecd.org/tax/automatic-exchange/
For FATCA: Additional information can be found on the Inland Revenue Service’s (IRS) website: https://www.irs.gov/businesses/corporations/foreign-account-tax-compliance-act-fatca
Tide is not allowed to give tax advice so if you are not sure how to complete the form from the tax perspective, please visit the OECD or IRS websites or speak to a professional tax advisor
Should you have any IT related issues with the form or would require further general information please contact us at fatca.crs@tide.co
Your Tide Membership account will remain active even if your bank connection has expired.
Once the bank connection expires, Tide will no longer be able to access any new account information from your banking provider. However, Tide will still have access to any data you have previously shared
After this point, the data displayed in your Tide Membership account will no longer be up to date.
You can renew this connection any time after the 90 day period has passed. Simply log in, follow the steps to reconnect, and then continue using Tide’s products and services!
Select the reconnect option from within your Tide Membership account. This will take you to the secure portal of your banking provider to reconfirm your consent to share data before returning you to Tide.
All providers using Open Banking are regulated by the FCA or European equivalent and must adhere to industry standards.
These standards include the requirement for all customers sharing account information with a Third Party Provider to confirm that they are happy to continue to share this data every 90 days.
This means you will need to reconnect your bank account to your Tide Membership account every 90 days.
We are launching this service as we understand that not all businesses will want to change their existing current account provider. This service, therefore, allows you to stay with your existing bank whilst getting access to some great Tide features.
All you need to do is connect an existing business current account to Tide’s platform through open banking (essentially this means providing your consent for Tide to access your account and transaction data). By providing this consent, you will be able to view the transaction history of your existing account on Tide’s platform and you will gain access to some great Tide services which will help you manage your money.
Our mission at Tide is to help small businesses save time and money – we are committed to this even if you don’t hold a Tide business current account.
Yes, if you are a Sole Trader or Registered Company with a business current account elsewhere you can connect to the Tide Platform. However, some of the features are only available to Registered Companies, for example, Cashflow Insights and Credit. We are continuously adding new features.
Yes! it is totally free to connect your existing business current account and use our products and services.
Connecting your existing business account is very straightforward as there are just a few short steps to follow. We use Open Banking to enable you to connect your account to our platform. This will enable you to view your business current account transactions, as well as use some of our great time-saving features. To connect your account:
Step 1: Choose the bank account you would like to connect
Step 2: Provide consent to link your account
Step 3: Authenticate the account you would like to connect – we will link you out to your banking provider to log in and provide this authentication automatically
Step 4: Provide some basic details about yourself and your business
Step 5: You will have access!
Every 90 days, you will receive a notification to provide consent again. If you do not do this, then we will no longer be able to display your business current account transactions and you will no longer be able to use our services. This process is very quick and easy and we will send you reminders and information on how to do this.
When we introduce the facility for you to make payments from our platform, you will need to provide your consent every 30 days.
If you experience problems connecting to your bank, the best way to check if everything is working correctly is to try to log in via your online banking (via your bank’s website, not their mobile app). After you have logged in to your online banking successfully, try again to log in to Tide.
Do not make multiple attempts in a row otherwise your bank might block the account temporarily.
In order to use Tide, you will need to connect a business current account. As we have just launched this feature, we currently only have a limited number of banks available to connect. We are continuously adding new banks, so please try again soon if your bank is not currently available.
Yes, you will need to be the account holder to connect your account to Tide.
In order to connect your business current account to the Tide platform, you will need to:
select your bank
provide consent to connect your account
authenticate the connection
provide some basic information on yourself and your business e.g. name, DOB
You need to be the account holder to be able to connect an account.
By providing consent to connect your business current account to Tide, you will be able to view the transaction history of your existing account on Tide’s platform and gain access to some great Tide services which will help you manage your money.
Initially, you will have access to the following features on Tide’s platform:
Cashflow Insights and credit – View real-time forecasts up to 30 days ahead and get tips and recommendations to manage your cash flow. This service is only available to Registered Companies and not Sole Traders
Cashflow Insights | FREE cash flow forecast | Tide Business
View account and transaction data – you can view the account, balance and transaction data of your existing business current account on the Tide platform and use our expense management features to search and filter and categorise your income and expenses
We are continuously adding new features – so keep an eye out for other time savings products.
For your security, we only allow a limited number of attempts to enter the SMS verification code correctly. If you are having difficulties, you can request a new SMS, which will contain a new code and provide you with several further attempts.
To stop hackers abusing this feature, there is a limit to how many SMS codes you can request in any 24 hour period. You shouldn’t reach this, but if you do, you can try again the following day.
Open the login page on your new phone. You’ll be able to log in with your username and password and set up your biometrics on the new phone.
Unfortunately, as Tide exists to support small and medium-sized businesses, you are unable to connect a personal account. If you are a Sole Trader and currently use a personal account for your business, then you can set up a business account with Tide. This will enable you to use our banking services, as well as our other products and features.
Opening a business account with Tide as a Sole Trader or Limited Company is FREE!
Click here to open a business current account.
Yes, we will be adding the capability to upgrade and get a Tide business current account. This functionality is not yet available, but it won’t be long!
Initially, you will have access to the following features on Tide’s platform:
Cashflow Insights and credit – View real-time forecasts up to 30 days ahead and get tips and recommendations to manage your cash flow. This service is only available to Registered Companies and not Sole Traders
Cashflow Insights | FREE cash flow forecast | Tide Business
View account and transaction data – you can view the account, balance and transaction data of your existing business current account on the Tide platform and use our expense management features to search and filter and categorise your income and expenses
We are continuously adding new features – so keep an eye out for other time savings products.
This information has been sent to us from your existing banking provider when you connected your account. If the information is incorrect, please contact your existing banking provider.
For now, the best experience is on mobile via the web browser. We do support access on some laptops if they have strong authentication hardware, e.g. MacBooks with a fingerprint reader, or computers with Windows Hello.
If you’re still having trouble on a device that does have a hardware authenticator, try using Safari on iOS or Chrome on all other platforms.
We’re working on a secure way to enable login on other desktop/laptop computers.
If you don’t receive an SMS verification code within a minute you can try clicking the button to send a new code.
If a device has been lost or stolen, then you should reset your account password immediately. This will prevent anyone from being able to access the account from your old device.
They can log in on a new device by visiting the login page on your new phone.
To apply for access to Tide’s, you will need to meet our eligibility criteria outlined below:
You will need to hold a business current account with another banking provider, from which you are prepared to give Tide consent to access data.
You will need to be the account holder of the above-mentioned account.
You’ll need to be aged 18 or above, have a valid UK phone number and hold a biometric-enabled device.
We’re on a mission to help businesses owners spend less time on money admin, and we want to enable as many small businesses as possible to do that. It’s a balancing act though, certain company types are more complex to onboard, so the scope of businesses we’re currently able to offer accounts to is a little more focused than your average high street bank.
We hope to broaden this scope as we grow, but currently, we’re unable to onboard the following types of companies:
You can read more about this in our blog post: Providing financial security for our members.
Please note that many customers will initiate chargebacks if they see payments to companies that they do not recognise. Therefore, please ensure that you make your customers aware of what wording will be displayed on both the billing and statement descriptors for their transactions.
Payments made by Visa, Mastercard debit and credit cards are accepted.
The meaning of the different status types is as follows:
At present, although payments can be made using cards issued outside of the UK, payments can only be made in GBP for Tide Payment Links. However, we plan to extend the feature to include other currencies in the future.
There is no maximum payment limit per transaction and the minimum amount is just £5.
The amount will be directly credited to your Tide Business Bank Account within 3 working days. No action is required from you.
You can check your Tide account at any time and you will also receive notifications on your mobile device.
The best way to avoid chargebacks is to ensure you know your customers well and exchange clear communications with them.
Other top tips include:
If you have received a chargeback, then our Member Support team will contact you by email to advise you of this and to explain how you can dispute it, as well as what documentation you will need to provide.
On a mobile device, you will receive 2 types of notifications that will enable you to check the status of your Invoice Payment Links request:
1. A notification to let you know that your customer has successfully made their payment.
2. A second notification to advise when the payment has been initiated to your Tide Account.
Other than these notifications, you can also check your Tide account at any time via the app to confirm the receipt of payments into your Tide Account.
There is a £10 fee to have a chargeback request investigated and processed, irrespective of outcome. This is because a separate investigation will be carried out for each request. The fee will be debited from your Tide merchant account when a chargeback request is received.
It takes on average 3-5 working days for your customer to receive a refund. You will not be charged for a refund, but when you refund a payment to a customer, the fees paid on the original transaction will not be refunded to you.
A chargeback happens when your customer disputes a card payment made using Tide Payment Links. It can be for either the full or partial amount of a transaction. If a chargeback request is raised by the customer, the money will be subtracted from your merchant account.
It is possible to challenge a chargeback. To do this, you will need to provide all necessary supporting information to Tide Member Support within the agreed timelines. Please refer to the Tide Payment Links T&Cs for further details.
Yes. It’s very simple to disable Tide Payment Links. You can either do this per individual invoice or once to apply for all invoices. For all invoices, go into Accept Card Payments with Tide Payment Links and toggle the button to Off. If you just want to disable the function for one invoice, then you can use the toggle displayed in the Create Invoice screen in the Tide app.
If a customer payment fails, they will be asked to try again. Typical reasons for a payment failing include errors with entering the card number, expiry date or CVC number, or potentially even a connection issue. These issues can usually be resolved when the customer tries to enter the payment for the second time. Another reason for a payment being declined or failing is that the Payment Links function may be temporarily unavailable. In the rare event of this occurring, the customer would see a notification advising that this method of payment is currently unavailable. They would then need to make their payment by bank transfer instead.
Activating your Credit Line won’t affect your credit score, but the checks we run will appear on your credit report. When you activate your Credit Line, we also run a director check that is recorded and visible to lenders – meaning they will know your company applied for credit.
Note that as for any credit, your company credit score may be affected positively or negatively based on whether you make the repayments on time.
We report the company’s debt situation to CAIS (Consumer Credit Account Information Sharing), but don’t report any consumer debt as there is no consumer debt against your company’s Credit Line.
You will be charged a monthly subscription fee to keep the line active plus interest, accrued daily on any amount withdrawn. The repayment period is 6 months. Annual interest rates start from 8% fixed.
A representative example:
26.6% APR representative based on an assumed unsecured loan amount of £20,000, with a monthly subscription fee of £100 and an annual interest rate of 12% (fixed). This would be 6 monthly repayments of £3,550.97, including the subscription fee.Total amount payable within 6 months would be £21,405.80 (including subscription fee).
We run eligibility checks every day and base our decisions by analysing a variety of sources of information to make sure you can comfortably repay your line of credit.
Some of these criteria include;
Other factors, such as your company credit score, the revenue paid into your Tide account, and the frequency you use your Tide account will also impact your eligibility.
You won’t ever have to apply for Credit Line as we’ll do everything on your behalf and notify you when you’re eligible.
Tide Credit Line is a pre-approved revolving credit facility, enabling you to withdraw money, use it to fund your business, repay and withdraw again when needed. If eligible, members can activate their pre-approved line of credit offer in the Tide app, and start withdrawing funds straight away.
There’s a subscription fee that will be automatically deducted from your primary Tide account each month to keep your Credit Line active. You can withdraw as little or as much as you need up to your approved credit limit as often as you like – it’s on your terms.
With every monthly repayment, your Credit Line limit replenishes so you can withdraw again if you need to.
You should consider cancelling your Credit Builder to avoid missing a payment. Any missed payment is reported to Experian, which could impact your credit score.
Assuming you’ve not missed any payments when you cancel Credit Builder, we’ll report your loan as a settled debt. This means your credit report will show that you’ve paid the full loan amount and fulfilled your obligations, so there is no negative impact on your credit score for cancelling Credit Builder.
Credit Builder is structured as a loan with a credit limit of £240 and an annual interest rate of 24% (fixed). There are no hidden fees, penalties, late or early repayment fees.
The interest is included in the monthly repayments that we deduct from your Tide account. At the end of the 12-month period, you will get back your monthly payment and we will keep the interest.
A representative sample:
26.8% representative APR based on an assumed unsecured loan amount of £240 with 12 monthly payments of £22.69 at an annual interest rate of 24% (fixed). Total amount payable is £272.33.
Net cost £32.33*
*As £240 will be returned to you upon final instalment
Credit Builder is structured as a 12-month loan. This allows us to report your monthly payments to Experian as a repayment of a loan, which helps build your credit score. However, unlike a traditional loan, the principal payments are made available to you when you activate the product but the principal payments are made available at the end of the 12-month period (or if you cancel earlier).
As a result of this structure, eligibility is not subject to your creditworthiness and almost every registered business incorporated less than 2 years ago is eligible (see Am I eligible for Credit Builder? For more details).
Credit Builder helps you build your business’ credit score, and therefore your creditworthiness to credit reference agencies – the people who compile and keep your credit report.
It’s a key component of your business as;
Credit Builder is a bit like a business loan, only you receive your principal payments at the end of the term (see Is Credit Builder a loan? for more details);
This product is subject to eligibility and only available to:
A domain name is an address that exists on the internet (similar to tide.co or wikipedia.org). Domain names are made up of 2 parts:
The first part is the name created by the owner (like “tide” or “wikipedia”)
The second part is the domain name extension. Some common domain name extensions are “.com” and “.co.uk”.
Registering a domain will let your reserve a name on the internet for a certain time period. Usually, domain registrations last for one year – it is not possible to register a domain forever. Domains are purchased from domain registrars. Tide has partnered with web.com to provide this service to members incorporating a company with Companies House.
No, registering a domain is completely optional. However, remember that domain names are available on a first-come-first-serve basis – so if there’s a domain name you are keen on, make sure you register it sooner rather than later.
You can access the Domain Management area from the Tools and Services menu in the Tide web app. The first time you access this, you’ll need to set your password using the reset password option. From here, you can manage your domain and access additional services such as hosting, email, website builder, and more.
By default, we’ll auto-renew your domain for you. The only reason we will not renew it is if your payment fails or you ask us to stop your subscription.
At the expiry date, if the domain has not been renewed, you will lose access to it and any services or products attached to it will cease to work. After expiry you will have up to 30 days in which you can renew the domain name and re-activate any services attached to it, at the standard renewal cost. After another 30 days, the domain name license will be suspended and will enter a 60 day grace period called the redemption period. During this time, you will have the option to keep the domain by paying an additional fee, called a redemption fee, in addition to the renewal fee. You will be able to do this in the Tide Domains portal. If you do not do this before the redemption period is up, your registration will be deleted and the domain will be made available for anyone to register.
You will be asked to provide a card during the signup process. If your application is accepted by Tide, we’ll charge the card on file. In we are unable to collect payment, we’ll send you a reminder email so we can collect the funds and register the domain on your behalf. If you need to update your payment details, you can do so in the Tide web app.
You can cancel at any time by messaging us in the Tide app. We’ll email you to confirm we’ve cancelled your subscription. If you cancel mid-subscription, you won’t receive a refund for the remainder of the subscription. This is because domains are purchased in “whole year” time periods. If you opt out of next year’s renewal, you will still own the domain until the end of the term.
Processing your cancellation can take up to three days so to avoid being charged for the following term, please request your cancellation a minimum of 2 weeks before your renewal date.
If we have been unable to offer you a Tide account, we will not process your purchase for the domain registration. If you still need a domain name, we recommend our partner web.com.
The full price is £6.99 + VAT per month. However, while we are working on adding additional features to the product, we will be offering discounts.
Currently, yes, but it will be made available to registered businesses later in 2022.
Tide Accounting has been designed to help business owners simplify accounting. Automating these tasks for you makes this possible. The tool assumes no prior knowledge of accounting.
For the initial launch of the tool you will need to be non-VAT-registered but the tool will cater to VAT-registered members later in 2022.
Currently, yes, but we are working on making this available on the mobile app too.
Tide Accounting is only available to members that use cash accounting. As we advance the tool, it will become available for all accounting bases.
Unfortunately, at the moment, Tide Accounting would then not be compatible. We plan to make the tool available for businesses using CIS in the future.
When you categorise your transactions in Tide, Tide Accounting automatically matches these categories to HMRC’s self assessment SA103 Business Income and Business Expenses categories. This provides your self-assessment estimate. The estimate is based only on the transactions in your Tide account and any manual transactions you add.
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