How to become a Tide member

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

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

Have a valid UK home address

Be registered with HMRC (here's how to register)

Directors of limited companies must also

Have a valid home address in the UK or overseas

Be registered with Companies House (we can do this for you here)

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

Choose how you want to join, and whether you want to open a company

Apply for your account online by going through our application process

Provide us with details about you and your business, such as who you are and what industry you'll operate in

We may approve your application within minutes if you pass our automatic eligibility checks

We may ask for more information to make sure you meet our eligibility criteria below

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 we can't accept every business.

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

This allows us to accept new members, without stretching ourselves too thin and risking our quality of service. If we accepted members outside of this criteria, we would increase this risk. This is known in the industry as '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.

It's funded by donations

We can't service its industry

We can't service its type

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 payments (client/customer money) is or is likely to be received into or sent out from Tide accounts.

In this context, third party payments is any cash, 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.