Tide offers a range of business banking solutions designed for small and medium-sized enterprises (SMEs), freelancers, and sole traders. Their accounts provide essential business banking features with a simple, transparent fee structure.
In this comprehensive Tide business account review, we break down all four account tiers, detailing features, pricing, and eligibility requirements, so you can choose the best fit for your business.
£150 when you sign up with Tide – Ends 31/1/2025
Tide Free Business Account
Monthly Fee
£0Bank Transfers
20pCard Purchases
£0Overdraft
NoFSCS Protection
YesAccess your account online or via Tide’s app
- Transparent Pricing – Simple fee structure with no hidden charges.
- Scalability – Easily upgrade your Tide account as your business grows.
- Comprehensive Business Tools – Features like invoicing, payment scheduling, payment links, and direct debit management.
- Seamless Accounting Integrations – Works with Xero, Sage, FreeAgent, and QuickBooks.
- Quick Account Setup – Most applications are approved within minutes.
- User-Friendly Mobile App – Modern, intuitive interface for easy banking on the go.
- Additional Business Tools – Includes card readers and payment solutions.
- Limited Phone Support – Only available for Smart, Pro, and Cashback accounts.
- No Cheque Deposits – Tide currently does not support cheque deposits.
- Cash Deposit Fees – Deposits at PayPoint or the Post Office incur charges.
- Mobile App Dependency – Reliance on app-based management may not suit all users.
*Thanks to our partnership with Tide and to get your business off to the best start this year, Tide will give you £150 cashback when you open a business account via the link above! To qualify, all they require is for you to deposit £50 into your new account with them within the first 30 days of opening. This deal ends on 31/1/2025.
Tide Business Accounts at a Glance
| Feature | Free | Smart | Pro | Cashback |
|---|---|---|---|---|
| Monthly Cost | £0 | £12.49 + VAT | £18.99 + VAT | £49.99 + VAT |
| Tide Business Card | Free | Free | Free | Free |
| Expense Cards for Staff | £5 / month | 1 free | 2 free | 3 free |
| Transfers In/Out | 20p / transfer | 25 free/month | Unlimited | Unlimited |
| ATM Withdrawals | £1 | £1 | £1 | £1 |
| Cashback on Spending | ✖ | ✖ | ✖ | 0.5% |
| Cash Deposits | ✔ | ✔ | ✔ | ✔ |
| Cheque Deposits | ✖ | ✖ | ✖ | ✖ |
| Scheduled Payments | ✔ | ✔ | ✔ | ✔ |
| Accounting Integrations | ✔ | ✔ | ✔ | ✔ |
| Multiple Business Accounts | ✔ | ✔ | ✔ | ✔ |
| Create and Send Invoices | ✔ | ✔ | ✔ | ✔ |
| Priority In-App Support | ✖ | ✔ | ✔ | ✔ |
| Phone Support | ✖ | ✔ | ✔ | ✔ |
| Legal Helpline | ✖ | ✔ | ✔ | ✔ |
| Dedicated Account Manager | ✖ | ✖ | ✖ | ✔ |
Who is Tide?
Founded in 2016, Tide is a leading UK business financial platform serving over 1 million SMEs. While not a bank, Tide partners with ClearBank to offer business accounts with FSCS protection up to £85,000.
Tide provides additional services like business loans, invoicing tools, card readers, and expense management, making it a one-stop shop for small business finances.
Tide Business Account Youtube Review
If you’re tired of reading and would instead like to watch our video on Tide’s Business Bank Accounts and their offerings, watch our YouTube video below!
Who Should Open a Tide Business Account?
Best For:
- Freelancers & Sole Traders – Access essential business tools with no monthly fees.
- Small Businesses – Easy-to-use features like invoicing and expense tracking.
- Growing Businesses – Upgrade to Pro or Cashback for additional benefits.
- Digital-First Businesses – Fully online banking with 24/7 in-app support.
Not Ideal For:
- Businesses that accept cheques – Tide does not currently support cheque deposits.
- Enterprises with complex banking needs – High-volume businesses may find Tide’s transaction limits restrictive.
- Businesses preferring in-branch banking – Tide is fully digital.
Tide Business Account Features
Shared Features Across All Plans:
- Tide Business Mastercard – Free with every account.
- Invoicing Tools – Create, send, and track invoices within the Tide app.
- Direct Debits & Scheduled Payments – Automate your payments effortlessly.
- Expense Cards – Control team spending with staff cards.
- Payment Links – Get paid faster with shareable payment links.
- Accounting Integrations – Sync with Xero, QuickBooks, Sage, and FreeAgent.
- Multi-Business Management – Manage multiple accounts under one login.
Additional Services:
- Company Formation – Register a UK business for £14.99 with Tide.
- Business Loans – Access financing through Tide’s lending partners.
- Tide Instant Saver – Earn up to 3.81% AER interest on business savings.
- Card Reader – Accept card payments in-store or on the go.
Tide Instant Saver Account
Tide also offers a business savings account, the Tide Instant Saver Account, which is highly popular for its attractive interest rates on deposited cash:
- Up to 3.81% AER (variable) interest on balances up to £75,000, calculated daily and paid monthly.
- Instant access to funds with no penalties, ensuring liquidity for your business needs.
- Free transfers between your Tide business current account and savings account.
Did You Know? 30% of Tide members actively use the Tide Instant Saver, with deposits growing by roughly 25% annually.
This account is ideal for businesses looking to earn on their reserves without sacrificing flexibility.
New customers who join Tide will receive a 0.77% boost on top of the standard interest rate of 3.04% AER (variable) until 01/06/2025, increasing their rate to 3.81% AER (variable). You will also get £100 cashback, making a Tide Savings Account an attractive option.
For more detailed information, please refer to my comprehensive review of the Tide Instant Saver Account.
Member Perks and Benefits
When you upgrade to a Smart, Pro, or Cashback account with Tide, you unlock a range of exclusive perks designed to help your business save time, money, and resources. Here’s a look at the added benefits:
- Exclusive Discounts: Enjoy savings on essential business services:
- RAC Roadside Assistance – 10% off breakdown cover.
- Big Yellow Self Storage – 10% discount on storage solutions.
- Gophr Delivery Services – 10% off courier and logistics services.
- SeedLegals – £100 off legal and compliance services.
- Auderli – Free access to an online life management tool.
- Priority Support: Smart, Pro, and Cashback account holders receive priority in-app support. Pro and Cashback users also gain access to phone support for more personalized assistance.
- Legal and Trademark Support: Smart and above accounts include 24/7 legal assistance for business-related matters, including contracts and intellectual property. Tide also provides trademark filing assistance to help protect your brand.
- Dedicated Account Manager: Cashback account holders receive a dedicated account manager, ensuring tailored support and guidance for their business banking needs.
Is a Tide Business Account Safe?
At Tide, security and compliance are top priorities. Here’s how Tide ensures that your business finances remain protected:
- FSCS Protection – Business current accounts provided by ClearBank are FSCS-protected up to £85,000, ensuring your deposits are safeguarded in case of insolvency.
- Two-Factor Authentication (2FA) – All logins and critical transactions require an additional layer of authentication to prevent unauthorised access.
- Real-Time Fraud Monitoring – 24/7 account monitoring detects and prevents suspicious activity, automatically flagging any unusual transactions.
- Instant Card Freezing – If your Tide Mastercard is lost or stolen, you can instantly freeze, unfreeze, or reorder your card via the Tide app.
- Secure Payments with Confirmation of Payee (CoP) – This system checks that the recipient’s name matches the account details, reducing the risk of fraudulent transactions.
- ISO 27001 Certification – Tide meets international security standards, meaning their data security and risk management practices are robust and regularly audited.
- Biometric Login – The Tide app supports fingerprint and facial recognition for a secure, password-free login experience.
- Data Encryption – All sensitive financial data is encrypted to prevent cyber threats and unauthorized access.
With these features, Tide ensures that businesses can operate securely while benefiting from digital-first banking solutions.
Tide Business Account Customer Support
Tide provides multiple customer support options depending on your account type:
- 24/7 In-App Chat Support – Available to all users for real-time help.
- Email Support – General queries can be sent to hello@tide.co.
- Phone Support – Available for Smart, Pro, and Cashback account holders from 9 AM – 6 PM (Monday to Friday, excluding holidays).
- Priority Support – Pro and Cashback users receive priority responses in the in-app chat.
- Dedicated Account Manager – Exclusive to Cashback members, providing personalised banking assistance.
- 24/7 Legal Advice Helpline – Included with Smart, Pro, and Cashback plans, offering access to expert legal guidance.
These customer support options ensure that Tide users have access to assistance when they need it, whether for routine banking questions or urgent issues.
Tide Business Account Customer Reviews
Tide receives ‘great’ customer feedback, with an average Trustpilot score of 3.9 out of 5 based on over 22,000 reviews at the time of writing this review.
72% of these reviews gave Tide full marks, praising its ease of use, efficient account setup and value for money. Customers commented on the helpfulness of Tide’s customer service, especially when setting up their accounts and explaining the mobile app’s functionality.
However, some customers have experienced difficulties, citing glitchy performance, slow response times and difficulty using features like invoicing. Several users stated their accounts had been frozen without adequate explanations or resolutions, affecting their business operations.
Tide’s mobile app is rated highly, earning an average score of 4.8 out of 5 based on over 72,000 reviews on the Apple App Store and 4.5 out of 5 based on over 20,000 reviews on the Google Play Store.
Users comment on the app’s user-friendly interface, comprehensive features and efficiency in managing business finances. However, some have reported problems with the verification process, app glitches and poor customer service response times.
Tide Business Account Eligibility Criteria
You’re eligible to apply for a Tide business account if:
- You are over 18 years old.
- You are either:
- A director of an active company incorporated in the UK and registered with Companies House.
- A sole trader or freelancer based in the UK with a valid UK residential address and registration with HMRC.
- You have a valid UK mobile number.
- You have a device that can access the UK Apple App Store or the Google Play Store.
Ineligible Businesses
Tide does not support businesses in the following industries:
- Financial Services – Insurance, money services, digital wallets.
- Trading & Investments – Crypto, securities, real estate.
- Restricted Goods – Pharmaceuticals, weapons, unlicensed trading.
- Hazardous Materials – Scrap metal, waste management.
- Gambling & Adult Services – Casinos, betting, escort services.
- Other Restrictions – Charities, CICs, LLPs, PLCs, or trusts.
How to Apply for a Tide Business Account
Applying for a Tide business account is fast and fully digital:
- Download the Tide app (iOS/Android).
- Enter business details – Company name, type, and industry.
- Verify identity – Upload a valid ID and complete facial verification.
- Submit application – Most accounts are approved within minutes.
- Receive your Tide business card – Arrives within 2-4 business days.
Learn More
Read my full article on How to Open a Business Bank Account with Tide
Alternatives to a Tide Business Account
If Tide doesn’t meet your needs, here are some alternatives:
| Feature | Starling Business | Revolut Basic | Monzo Lite |
| Monthly Fee | £0 | £0 | £0 |
| Bank Transfers | Free | 5 free/month | Free |
| Accounting Integrations | ✔ | ✔ | ✔ |
| Cheque Deposits | ✔ | ✖ | ✔ |
| Customer Support | 24/7 phone & chat | 24/7 chat | 24/7 chat |
Conclusion
Tide offers a simple, cost-effective banking solution for small businesses and freelancers. With no monthly fees on the Free account and a robust set of business tools, it’s an excellent choice for digital-first businesses. However, Tide may not be ideal for those needing cheque deposits or in-branch banking.
For businesses looking for easy-to-use, feature-rich banking, Tide is a top choice.
Methodology
To research and write this Tide business account review, we followed the process below:
- Research: We gathered information from reputable sources such as the official Tide website, financial publications, and customer review platforms.
- Review Criteria: When reviewing Tide’s business accounts, we considered various factors that are crucial to businesses, including monthly fees, transaction fees, accessibility, features, accounting software integrations, customer service quality, and customer reviews.
- Alternative Provider Selection: We considered factors such as market prominence, user base, and diversity of services offered when choosing alternative providers offering similar business accounts. Providers were chosen based on their popularity within the UK business banking sector and their ability to provide various account options suitable for different business needs.
- Continuous Updates: We aim to provide readers with reliable and up-to-date insights into business banking services in the UK. We will regularly update this article to reflect changes in Tide’s offerings, pricing, policies, or alternative business account providers’ policies. We will monitor industry developments closely and promptly incorporate any updates or new information that may impact the comparison.
Tide Business Accounts FAQs
Can I have 2 accounts with Tide?
Yes. Once your business is registered, you can create up to four current accounts per company. If you own multiple businesses, you can apply for separate accounts for each and view up to five business accounts per device.
How long does it take to open an account with Tide?
Tide reports that 53% of new business users open their accounts within 10 minutes, 70% within an hour, and 81% within 48 hours.
Does Tide offer direct integration with payroll systems?
No, but you can export transaction data to integrate manually with payroll software.
Are there account fees for inactivity?
No, Tide does not charge inactivity fees.
Can I use Tide if I’m a non-UK resident?
Yes, but only if you are a director of a UK-registered company.
How does Tide compare to some of its competitors?
Starling Bank has a higher Trustpilot rating and offers cheque deposits and saving spaces, making it better suited for businesses with more complex financial needs.
Monzo Lite offers features such as savings pots and digital receipts, making it ideal for businesses that require comprehensive financial tools.
Tide, however, excels in transparent pricing, ease of use, and seamless accounting integrations, making it a strong choice for freelancers and small businesses prioritizing simplicity and efficiency.
