Send and receive EUR with your Tide account

Did you know that you can also make and receive international payments with your Tide account?

In this guide, we cover how to:

Get your SEPA details

Pay your clients in EUR

Receive EUR from your clients

Understand the fees and Foreign Exchange (FX) markup rates that will be applied to your payments

Get to know SEPA

You'll make your international EUR payments with SEPA (Single Euro Payments Area).

SEPA is a European Union initiative that aims to make cashless euro payments across the Eurozone easier, in a similar way to domestic payments, such as Faster Payments.

The SEPA area covers the 27 EU member states, 3 EEA countries, as well as Switzerland, Monaco, and the United Kingdom. You can find a full list of the SEPA countries here.

Get your SEPA account

Before you start sending or receiving EUR payments, you'll need your SEPA account details. You can do so in your app by tapping:

Accounts > Details next to your main account > SEPA > enable EUR payments

Keep in mind that you only get one set of SEPA account details. If you have more than one Tide account, these details will be linked to your primary Tide account.

You won’t be charged anything for activating SEPA payments.

Pay EUR to a new payee on mobile

Add your recipient

If you're transferring EUR to a brand new recipient, you'd need to add their bank details. In your app, tap:

Accounts > Send > Send money abroad*

+Add recipient > tap if you'd like to pay them in EUR or USD

Select recipient type (ie. business) > Enter the recipient's legal name, country, and International Bank Account Number (IBAN)

Next > Approve recipient

* Or from Recipients, select +View all.

Pay EUR from your phone

Once you've added your new recipient, tap:

Pay recipient > Make international payment > enter the amount you'd like to send in GBP

Review the live exchange rate (updated automatically every 30 seconds) and the converted amount in EUR. If you want, you can also add a reference for this transaction

Next > Confirmation screen > review the recipient details, amounts in GBP and EUR, exchange rate, and any transfer fees > Confirm the payment

Pay EUR to an existing payee on mobile

If you want to pay a recipient whose data you've already entered, you can tap:

Accounts > Send money abroad > fill in the details within the Make international payment screen* (amount in GBP and reference)

Next > select your recipient from the list

Review the amounts and fees in the Confirmation screen > Confirm payment

* Or, you can also access the Make international payment screen from Accounts > Make a payment.

Pay EUR from your laptop or PC

To make a payment on the web, click:

Payments > International payment

Select either a recipient from your list or add a new one (as you'd on mobile)

Add the amount you'd like to send in GBP

Next > on your mobile, go to Send money and confirm the payment

Good-to-know about sending EUR

Processing your EUR payment

If you send a EUR payment after 1:50pm GMT on a working day* – or on a non-working day – it’ll arrive in the recipient’s account on the next working day. Delays are possible sometimes due to regulatory checks or your recipient’s bank.

* A working day means any day that is not a weekend, a public holiday in the UK, or “TARGET closing day” as listed here.

See your statements

Your SEPA payments are processed through a separate license to your GBP payments. You'll be able to see them on your monthly statement, and in a separate statement too.

To view your SEPA statement, in your Tide app, tap:

Details next to your main account > Statements and documents > SEPA statements

EUR payment won't go through?

If you enter incorrect recipient details, the SEPA payment won't be processed and won't show in your transaction history.

We'll apply the exchange rate available at the time of the return. This means when the payment is returned to you, it might be a different amount.

But, if the wrong IBAN you entered exists, the payment may still be processed. To resolve this, tap the Support icon in the top-right of your app.

Receive EUR into your Tide account

Get your SEPA IBAN

To receive EUR payments, first you'd need your SEPA International Bank Account Number (IBAN).

You can get it in app by tapping:

Accounts > Details next to your main account > SEPA > Share to send your IBAN, Bank Identifier Code (BIC), and Bank address

Good-to-know about receiving EUR

Processing your EUR payment

If you’re receiving a payment sent to you via SEPA, it will usually take a few minutes to arrive in your account. However, sometimes this may take up to 5 business days*, as any money sent to you will need to pass our security checks.

The money will be automatically converted to GBP and will appear in your main account's balance.

* Your inbound payment will be processed according to the SEPA scheme's processing times which can be found here.

Amounts you can receive

This depends on your Tide account limits. To view those, in your Tide app, tap:

Details next to your account > Account limits

Not receiving your EUR payment?

Senders should always be able to pay you in EUR if you give them your SEPA account details. They'll need to select EUR as a currency before sending the payment. If they send it in GBP, their bank may charge them additional fees.

Any money sent via SEPA in currencies other than euros will fail to reach your account and will be returned to the sender

The sender should also ensure they always use the SEPA payment method, and not use SWIFT to send euros to you, as this will also result in the transaction being declined

If a payment takes longer to arrive, you should request a Proof of Payment from the sender. They can get this from their bank. When they share the Proof of Payment with you, tap the Support icon in the top-right of your app.

Find out more about our fees and FX markup rates

Your SEPA transactions are subject to a fee (based on your plan), the interbank exchange rate on the day, and a FX markup. Here's how this looks like for your plan:

Tide Lite: No free payments included. You’ll be charged 20p per payment with a 1.50% FX markup

Tide Smart: 25 free payments with a 0.5% FX markup. You’ll be charged 20p per SEPA payment over this allowance

Tide Pro: Unlimited free payments with a 0.5% FX markup

Tide Max: Unlimited free payments with a 0.5% FX markup

We collect the fees during payment processing. You'll see them listed in the confirmation screen (when making a payment) and under the Transaction details (when receiving a payment).