We have recently partnered with Tide, a modern business banking provider.
As a Tide partner we can offer you a FREE business current account in minutes, straight from your phone, saving you time and money. This offer is open to existing clients, new clients, and individuals.
Sign up with Tide
Follow the link to open your FREE Tide Account – Open a free business account
(You can Sign up in as fast as 5 minutes!)
Tide is an affordable business banking option. They don’t charge monthly fees and charge just 20p for bank transfers.
If you travel abroad for business Tide has no purchase fees for both abroad and in the UK.
Sync up with your accounting software
Tide offers easy integrations with Xero, FreeAgent, Sage, Reckon and Kashflow, with others coming soon including Quickbooks.
Frequently Asked Questions
Yes! You can access your account from a desktop at web.tide.co by using the QR code scanner found within your Tide app.
Tide runs on iOS 10 and above, and on Android 5.0.0 and above.
Unfortunately, Tide is not compatible with Windows phones.
Currently, accounts can only be accessed by the named account holder. However, you can order up to 35 Team cards per account, which will allow your colleagues to spend directly from a designated account. For more information on Team cards, see here.
Full multi-user access is on our roadmap, in the meantime you can read about how to grant your colleagues or accountant read access.
Yes, Tide accounts are initially subject to balance and transactions limits.
You can see a full breakdown of your own account limits in the app – tap More and then Account limits.
If you’d like to increase your account balance limits, just let us know in the app.
You can pay cash into your Tide account by taking your cash deposit and Tide card to your local Post Office or PayPoint. For more information on cash deposits, including fees and maximum deposit amounts, see here.
Unfortunately, Tide are able to accept cheques. Some of our members choose to deposit these cheques into their personal accounts, and transfer the funds across to their Tide accounts. If you have received a cheque from HMRC, you can return the cheque to HMRC and instead request a cash transfer to be made into your account.
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) – £1
Cash deposits (through PayPoint) – 3% of the total transaction value
Yes! All charities must be registered with both the Charity Commission and with Companies House UK to be eligible for a Tide account.
No! To open a current account, Tide 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.
Registered businesses can create up to 4 current accounts per company straight through the app, each of which will have its own unique account number.
You can use these accounts for a specific expense such as marketing costs, or to save for your tax obligations.
Yes! Our Members have successfully used their Tide accounts with all of these services.
Yes. Tide’s banking services are provided by PrePay Solutions, who are regulated by the FCA via an e-money license.
Our members’ funds are kept in a protected Safeguarding account, meaning that they can never be loaned out to other customers and, as such, are not exposed to risk. As your funds will never be reinvested, they do not require FSCS protection (which is only required where banks reinvest and take risks with your money).
In the unlikely event of Tide’s insolvency, the service would continue to run as normal under management of PPS (our card issuer and account provider). Funds will be available to draw down at all times as they are safeguarded according to the rules that are stated above in this post.
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Did you know?
WAGES PAID TO FAMILY MEMBERS: To reduce profits, consider employing members of your family who are not currently employed. They can use their unused personal allowance to cover the wages that you pay them. You can claim their wages against your profits. You must, pay them a competitive market rate for their services and only pay for the hours that they work for you. National Minimum Wage rules also need to be applied.
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