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Becoming a Tide member

Everything you need to know about applying for a Tide account, becoming a member, and what happens when your situation changes.

Open a free business bank account

Who can apply for a Tide account

We offer business account to sole traders, freelancers and directors of limited companies. To be considered for a Tide account, you must:

  • Be a minimum of 18 years old

  • Have a valid UK mobile phone number

  • Have a device that's registered to a UK App or Goggle Play store.

Sole traders or freelancers must also

Directors of limited companies must also

Your 3 ways to join Tide

We want to empower as many people as possible to do what they love.

So you can apply to Tide in the way that's right for you.

Open a new business bank account

You can open an entirely new business bank account.

This can either be your first business bank account, or go along with your other business bank accounts.

Switch your business bank account to Tide

If you have an existing business bank account, you can switch it to a Tide account.

By using the Current Account Switching Service, they will handle the switch and let you know when it's complete.

Connect your business bank account to Tide

You can gain access to the Tide platform while keeping your existing business bank account.

Open Banking allows you to securely sync your account to Tide, so you can use our business features without changing bank accounts.

How our application process works

  1. Choose how you want to join And whether you want to open a company

  2. Apply for your account online By going through our application process

  3. Provide us with details about you and your business Such as who you are and what industry you'll operate in

  4. We may approve your application within minutes If you pass our automatic eligibility checks

  5. We may ask for more information To make sure you meet our eligibility criteria below

  6. We'll let you know whether you've passed And open your account immediately if you do

Why we can't accept every application

We want to provide financial services to SMEs, but unfortunately we can't accept every business.

As a fully regulated financial services provider, we must make sure we only accept businesses that meet our eligibility criteria.

This allows us to accept new members, without stretching our services too thin and risking the quality of service we're able to provide. By accepting members outside of this criteria, we would increase this risk to both Tide and our members' businesses. This is known as our 'risk appetite'.

We don’t discriminate against anyone on the basis of political beliefs, religion, race, or any other characteristic protected by law.

Why we don't accept an individual as a Tide member

There are a number of reasons why we unfortunately don't provide our services to everyone.

These reasons include those stated below, and apply to both the main account holder's application, as well as any other individuals with significant control over the company.

They're under 18

We can only accept individuals who are 18 and over.

These individuals must also be sole traders, directors of registered businesses, or wish to use Tide to set up their own registered business.

We don't offer personal bank accounts

We only offer our bank accounts to registered businesses and sole traders.

Tide accounts can only be used for business purposes, and we don't service members who want to use their Tide bank account for personal use.

We can't verify their documents

We need proof of identity, address, and business for someone to be a Tide member.

If we can't verify the supporting documents provided, we can't accept the application, though our team will support you in providing them. See our list of acceptable documents.

We also require a selfie when joining to verify your identity. If we can't verify your selfie, our team will support you in taking one.

Why we don't accept every business as a Tide member

Our services aren't right for everyone. There are certain business types, industries, and ways a business operates that we don't support, which include those stated below.

It's funded by donations

We're unable to provide our services to businesses which are funded fully or in part by donations.

This can included charitable donations, as well as donations made through platforms such as Patreon.

As tracing the source of donated funds can often be difficult, this is outside of our risk appetite.

We can't service its industry

We're unable to provide our services to businesses which operate in certain industries.

Businesses operating in industries outside of our risk appetite could pose a threat to the service we provide to our members.

You can find our full list of these industries below.

We can't service its type

We're unable to provide our services to certain types of business.

This is due to a number of reasons, including the level of risk posed by the business type, the requirements set out by our Banking Partners, and our need to adhere to local, national and international laws.

You can find our full list of these business types below.

Business types and industries we don't service

While we're always working to expand our services to more and more businesses, there are currently a number of business types and industries that are outside of our risk appetite.

Shell companies

We're unable to service businesses operating as shell companies or have a shell company in their corporate structure.

In this context, a shell company is one which is based in a country in which it provides no meaningful services and has no physical presence involving meaningful decision-making and management.

Virtual/crypto currencies

We're unable to service businesses that are actively issuing or exchanging virtual currencies.

This includes any interaction with crypto assets and crypto exchanges, including all transactional activity.

CBD

We're unable to service any businesses operating in the production, distribution, sale, advertisement or consumption of licensed Cannabidiol (CBD) and hemp, or any unlicensed drugs.

The extraction of precious metals

We're unable to service any businesses engaged in the extraction of precious metals or precious stones from a mine. 

Equally, we're unable to service a member who is operating a pawnbrokers.

Money service business

We're unable to service any businesses operating as a Money Service Business (MSB) or behaving in a manner commensurate with the definition of an MSB. 

In this context, an MSB is defined as a Member who is operating a bureau de change; transmitting money, or any representation of monetary value, by any means; or cashing cheques which are made payable to customers.

Professional service providers

We're unable to services businesses operating as a regulated or unregulated financial investment, loan, foreign exchange or banking business where third party funds (client/customer money) is or is likely to be received into or sent out from Tide accounts.

In this context, third party funds are any funds, or any portion thereof, received by the Member on behalf of third parties.

Adult industry

We're unable to service businesses operating in the adult entertainment or sex industry. 

This includes pornography, escort services, webcam services, sale and/or advertisement of sexual services and card clubs.

Charities

We're unable to service charities, including a sole trader or unregistered charity accepting donations, and businesses that are crowdfunding.

Gambling

We're unable to service any members operating a gambling or betting business. 

As defined by the Gambling Act 2005, gambling is defined as betting, gaming or participating in a lottery. This includes free lottery services.

Community Interest Company (CIC)

We're unable to service businesses operating as a Community Interest Company (CIC).

Used car sales

We're unable to service businesses operating in the import, export or sale of used automotive vehicles and heavy equipment.

Explosive and firearms

We're unable to service any businesses which manufacture and/or distribute weapons, explosives or armaments.

Military/defence

We're unable to service any businesses which manufacture and/or distribute items which can be used for military purposes.

This also includes all goods which have non-explosive uses or assist in any way with the manufacture of nuclear weapons or other nuclear explosive devices.

Dual use goods

We're unable to service any businesses which manufacture and/or distribute items which can be used for civil or military purposes (dual use goods).

Waste management

We're unable to service any member who is operating as an unregistered waste management business. 

In this context, this applies to any members that are or are reasonably believed to be involved in the transport of waste; buying, selling or disposal of waste; or arranging for someone else to buy, sell or dispose of waste.

Scrap metal

We're unable to service any businesses operating as an unlicensed scrap metal dealer in the UK under the definitions of the Scrap Metal Dealers Act 2013.

Auctions

We're unable to service any member that is operating Bidding Fee Auctions (penny auctions).

Unregistered animal breeder

We're unable to service any businesses operating as an unregistered animal breeder.

Horticulture

We're unable to service any businesses which sell seeds, plants or equipment related to the growing of cannabis.

What happens when you become a Tide member

  • We'll let you know your application was successful by email

  • We'll send you your Tide card to your registered trading address within 4 business days

  • You can download your Tide app from your device's app store

  • You can visit our Get started page to learn the basics of your new account

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.

Find more information

Our routine security reviews

Why we conduct reviews, how to keep your information up to date and what to do if we pause your account.

Learn more

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Get started with your Tide account

How to find your details, activate your card and start making payments.

Get started

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