What happens when your situation changes
To remain a Tide member, you and your business must remain within our eligibility criteria.
If your situation changes, you may no longer be eligible to be a Tide member, and we may be forced to close your account.
What counts as a change in situation
There are multiple changes which may affect your membership, and these are usually related to a change in how your business operates or a change in who controls the business.
For example, if your business moves into a new industry listed above, we'll be unable to continue your membership.
Equally, if your business adds new people with significant control over it, these individuals must also meet our eligibility criteria and pass our acceptance process.
Why we have to do this
This is due to an industry-wide security process called Know Your Customer, which ensures that financial organisations are acting within their own risk appetite and not allowing any suspicious activity.
You can learn more about this process, what happens if we discover a change in your situation, and how to let us know about any changes by visiting our Routine Reviews page.
What this means for you
In the unlikely event that you or your business no longer meets our eligibility criteria, we will be forced to close your account.
If this happens, we'll let you know by messaging your Tide account. You can view this in your app by tapping 'Support' > 'Messages'.
You'll then have 30 days to move your funds to another account you control, move your direct debits and other scheduled payments, and download any statements or transaction history you may need.
Our team will be on hand to support you through this process, to make sure you can smoothly move your finances to another provider.
You'll be able to ask us for a copy of your full transaction history for up to 5 years after your account is closed. Just email us at hello@tide.co and we'll send it to you.