Tide (Tide Platform Limited) is a UK financial technology firm that offers mobile-first banking services to small and medium-sized businesses. Businesses can open a current bank account and gain instant access to numerous finance solutions (including automatic bookkeeping and integrated invoice).

It was established in 2015, and Tide is among the first online financial platforms in the UK to offer current accounts to companies. In 2020, the company had offices located offices in London (headquarters), Sofia (Bulgaria) and Hyderabad (India)

Tide Business Account

Tide is among the businesses that provide banking services that have been gaining attention over the last few years as a "challenge" to traditional high-street banks. Instead of physical branches or in-person banking, Tide focuses on creating an easy-to-use digital experience for business customers online and via its mobile application.

The instruments and services offered with the Tide account can assist sole traders, and various businesses handle their money. There are a variety of plans to choose from that offer different features and plans so that you can choose the one best suited to your needs as a business. Learn more about the benefits of the various plans provided by Tide and find out how they compare with other business banking providers.

Tide Business Account Pricing

Tide offers three plans to its customers. Each plan has its pricing and specific features. Tides Plus plan starts from £9.99 per month, with all features except 0.5% cashback with tide card and ATM fees of £1. Tides pro plan is £19 per month, and their cashback plan is £50 per month with all features of the tide bank with increased limits.

Pros and cons of Tide

Pros of Tide business banking

● Quickly set-up

● No monthly cost if you opt for the basic, no-cost account

● can classify spending to make payments, issue invoices

● The ability to be able to upgrade your accounts to pay as your company expands

● It is compatible with a variety of accounting software programs.

● FCA is regulated by FCA and provides FSCS security (if ClearBank offers your bank account)

Cons of Tide business banking

● no physical branches, so no in-person support

● You will be charged charges to make ATM withdrawals and cash deposits and to pay and receive money If you are a Tide customer with a free account. You will be charged for ATM withdrawals and cash deposits.

● cannot accept checks

● , no overdraft facility

● Not currently transferring funds to accounts outside of the UK (except)

What features does Tide offer customers?

The Tide business account is equipped with various features and services. Some are vital elements of a bank for business accounts, while others are added features that aid businesses in managing their finances.

The primary characteristics of Tide's business account are: Tide business account are:

● Tide Business Mastercard that you can use within the UK and worldwide.

● A maximum of 35 expense cards for the other employees of your company.

● The ability to establish spending limits for each card.

● Utilize the Tide application to unfreeze, freeze and cancel cards. You can also request replacements for free.

● Receive and make the payments (to as well as to a UK account) and then schedule payments.

● Create standing orders and direct debits.

● Categorize and record your earnings and expenses.

● Upload receipts and link them to transactions.

● Make and send invoices that you can personalize by adding your logo and message.

● Export and download account statements.

● Cash withdrawals from ATMs.

● You can deposit Cash at The Post Office (for a fee) or PayPoint (for the cost of three percent of the deposit). There are restrictions to the amount you can make a deposit.

● Integration with Accounting Software Platforms like Sage, Xero, FreeAgent, ClearBooks, QuickBooks and Crunch.

● Each business that is registered can create as many as four company accounts.

● Team members can access their accounts and transaction history.

● An array of perks, including a free business number and discounts on various websites and services.

If you're using a paid account, you'll be able to access more options, including:

● 24/7 helpline for legal issues.

● Telephone support (9 am until 6 pm during working weekends) and priority assistance via the app.

● A dedicated account administrator (9 am to 6 pm during working days). Cashback only account.

What do Tide customer reviews say?

Tide has received some positive reviews on various review websites. Tide has received a 4.2 rating on Trustpilot, based on more than 11,400 reviews. 69% rating it as excellent. Tide has a 4.8 stars rating in the Apple Store with over 57,600 reviews. It also has a four five-star rating in Google Play based on over 12,400 reviews.

This information is correct up to 2 August 2022.

Alternatives

Wise

Wise is the top alternative to Tide. It is a licensed financial services provider. Pay for invoices with the current exchange rate in more than 70 countries using your mobile or app. The majority of payments are immediate or can be received within just an hour.

Everything you require to expand your business and expand internationally without the costly charges, administrative costs and hassle of local banks. Wise protect your funds in the top financial institutions.

All you need is the recipient's bank information or email address. You don't require an account with a Wise account to receive a payment. You can save time and money on international payments, employee reimbursements, or periodic payments. Pay up to 1000 people in one single click.

Upload a spreadsheet containing each transfer's details, and then submit one payment. Join your team members on your account for assistance in the process of paying. They store information prom previous payments for future use.

Revolut.com

The second best alternative of Tide is Revolut. Revolut provides a full solution for finances, payments and banking. It provides various services, including payments, sending and receiving, Saving Plans, Investment Plans, and many more. Revolut offers secure and safe payment options to its customers, allowing users to make and receive payments anytime they wish.

Revolut also allows its customers to purchase or sell crypto-currencies through their platform, so they can put their money in crypto-coins and reap huge profits in the future. Customers can also utilize Revolut as a money wallet to save their money in their wallets safely and in a confidential manner.

Gosolo:

Gosolo, like PayPal, Mastercard, and Stripe, is an FCA-authorized company that manages the digital currency and a best alternative to Tide. Business transactions are now possible thanks to their approval. GoSolo offers more than just a place to keep your company's digital funds, though.

They can also help you set up a business entity, create and send professional-looking bills to your clients, track when they were paid, and even chase down late payers. Their main focus is reducing unnecessary friction for commercial operations. It is also a good alternative to Tide.