Tide Business Banking App

My business partner and I have been using Tide’s Current Account since the start of January and have found the experience so far exceptional, I was able to apply and be accepted for an account in minutes. The sign up process required me to provide identification and some general business information. I understand they use this to filter out people that aren’t going to be able get the most out of the app. I have used a few other alternative banking services, like Monzo and Revolut. But I have found Tide offers a superior service for the business’s needs, than those more generalist banking apps. The app keeps getting better and better as new features are added. I have found the apps ability to send, pay and track invoices invaluable. It is easy to add my logo and business details to the templates and the system integrates seamlessly with our accountancy software Xero which I use for client invoicing. I understand that it will also work with Sage, Quickbooks and a few others. It’s hard to believe that such a versatile app is available for free. I would not hesitate to recommend Tide to other small business owners and freelancers who are looking for an easy way to track and manage their business’s finances.

Few month ago I opened a business account with Tide Mobile Banking and the overall account set-up process was quick and efficient. I explored all the available features which I started applying from the day one into my business. I stated with the free version and overall it gave me everything that I was looking for – scheduled payments and international transfers. However, since my business is growing with every day, I moved into Plus account, that with the small monthly charge additionally gives priority support and 24/7 helpline. I already has some questions regarding the accounting integration, and within couple of hours I received answers from the customer support. Although since my business operates across different countries, I am always aware of the different timeframes, and I would really appreciate immediate help at any time if I will be in a need. I would recommend this app for everyone who is looking for the effortless way to manage daily banking finances.

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BE CAUTIOUS. I don’t normally post reviews, but this experience left me feeling compelled to share my experiences. So I downloaded the app and went through the initial identification steps you see used in other neobanks like Monzo, Revolut, etc. So far so good. It told me it might take a while to confirm the documents so I closed the app and waited, which I did. The next time I opened the app, it was completely unresponsive and had the message, “failed to load messages”. I then thought it was odd. If something as early as onboarding had glitches, would my money be really safe? I contacted customer support and then told me that the onboarding team would be in touch shortly. They didn’t. It was only after I followed up and sent a second message in which they contacted me. They asked me about the business and its operations, and I explained. Then all of the sudden, they sent me an email saying the application has been closed as they don’t opening accounts for businesses in a couple of industries. All of this has left a sour taste in the mouth. If they had perhaps had a disclaimer on their website which stated which businesses are able to open with them (to which I found none), then I wouldn’t have had to waste time dealing with all this. All in all, I suggest you consider if this is really where you want to store your hard-earned funds.

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As a Doctor and professional business person I am strongly advising against using tide. They require wang more information than is necessary and then refuse to erase it all off their records. They refuse to talk on phone so if you had any emergencies or account freezes or computer lock downs you would not be able to get in touch with them. After providing all my information they closed down my account application without any explanation. They require face recognition which is something not even border controls require. They keep asking for info of which I have passports, tax records and other bank accounts going for 24 years I own a house, I have utility bills and 4 other bank accounts with a 24 year history of clear records and yet they still request more and more data. I explained that I am setting up a new business but have not generated income yet and they wanted contracts to prove I was getting money and I explained I needed the bank first and it’s a new business and that I need to set up then look for clients. I have 4 other bank accounts and have never had this much hassle but now they have kept my data and I feel they almost wanted data collection only. I am suspicious now. With all fraud these days please do not go with these guys.

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I’m a small business owner and rely on cash flow. This company put heavy strain on my business and are nothing short of a nightmare, it take days to transfer money, card doesn’t work in 50% + places meaning I had to transfer between accounts regularly, and does not work with curve card at all, all things I was sold on before signing up. To speak to someone regarding anything, was nothing short of an on going joke and massively frustrating, ( there is no way what so ever you won’t need to contact them regularly !) it takes days for a reply and EVERY message starts with “sorry for the delay in getting back to you etc etc ” which at this point you’ve ended up dealing with, There is no apparent phone number. Although I think there is a premium account you can now have that gives this option (laughable) I’m embarrassed I chose to go with this bank. I went with Tide hoping to help my business accounting and ended up causing more hassle and being more unorganised as a result, completely ridiculous bank in this day and age. Not to mention the icing on the cake, you can not get access to your last 4 weeks bank statements, it updates once a month, which is completely useless when being asked for recent bank statements.