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Published 02 December 2022

Tide Business Account Review: Pros, Cons & Features

Read our review of Tide’s business account, including pros, cons and key features.

Many or all of the products and brands we review are from our partners who compensate us. This may influence which products we write about and the product we choose in our ‘promotion’. However it doesn’t influence our reviews. Our opinions are our own.

Tide business account: at a glance

Tide business accounts can help sole traders and limited companies to manage their finances online. Offering a potentially quick set-up and a range of features, Tide allows you to make payments, send invoices, and check your expenses from your smartphone.

Currently, Tide offers a business account with no monthly fee, as well as three paid options: Tide Plus, Tide Pro and Tide Cashback. These come with a variety of features, depending on your chosen plan.

Find out more about Tide business accounts, including their pros, cons and key features, with our review.


Tide Business Account – Free

  • Monthly Fee
  • Card Purchase Fees
  • Bank Transfer Fees
  • Offer
    FREE Tide Accounting + VAT Manager until end of May
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Learn more about how we bring you our review.

Tide business account pros & cons 


  • A business account with no monthly fee is available.
  • You can access the account digitally via a mobile app and on the Tide website. 
  • Accounts provided by ClearBank are eligible for protection through the Financial Services Compensation Scheme (FSCS).


  • Currently, it is not possible to deposit cheques into a Tide account.
  • Tide has no physical branches you can visit.
  • Business partnerships and charities cannot open a Tide account.

These pros and cons are based on a survey of UK business owners on what they found important when selecting a range of business products, conducted by NerdWallet in December 2022.

Tide business account key features

Tide business account full review

Tide is a business banking service that was founded in 2015. It is a digital fintech platform that aims to make opening and managing a business account faster and more user-friendly compared to traditional banks, with its use of mobile technology.

With more than 450,000 customers at the time of writing, Tide offers business accounts to sole traders, freelancers and limited companies. There is a range of business accounts available, including a free account and more advanced paid accounts, which allow businesses to upgrade as and when they need to.

We’ve gathered everything you might want to know about Tide’s business accounts below.

Monthly feeFree (Free plan)
£9.99 + VAT (Plus plan)
£18.99 + VAT (Pro plan)£49.99 + VAT (Cashback plan)
Transaction fees20p per transfer
Plus plan includes 20 free transactions per month
Pro plan includes unlimited free transactions
Cashback plan includes 150 free transactions per month
Account managementVia the mobile app (iOS and Android)
Online via the Tide website
FSCS protectionYes (with accounts provided by ClearBank)
Potential for same day set upYes
Cash depositsYes (at the Post Office and at PayPoints)
Cheque depositsNo
Access to other banking servicesYes (through Open Banking integration)
Integration with accounting software and toolsYes
International paymentsNo*
Customer serviceVia the mobile app (iOS and Android)
Feedback form
Telephone (for paid accounts)
Virtual chatbot 
Multiple user accessNo – read access only
Trustpilot rating4.3 out of 5 (as of 27 February 2023)

* Existing customers with a Tide International Currency Account (no longer available) are able to make international payments. 

Tide business account features

The following sections provide some key information about the main features of Tide business accounts.

Business account fees

The most important factor for business owners when searching for a business account is the monthly cost, according to half of those surveyed by NerdWallet who chose it as one of their top three criteria. Tide has tiered account pricing, depending on the account features you want. 

The Plus plan currently includes one free expenses card, while the Pro plan comes with two. The amount of free transfers per month also varies: the Plus plan has 20 free transfers each month, while the Pro plan comes with unlimited transfers included in the monthly fee. 

Tide Cashback includes all of the above features, plus a dedicated team of account managers and 0.5% cashback on purchases made with your Tide debit card. Free transfer limits and expenses cards may vary.

Below, we have gathered more information on the specific pricing of each type of account.

Monthly fee

Tide offers four pricing plans for its business accounts.

Day-to-day business transaction charges 

There are fees for certain transactions with a Tide business account, outside of any allowances included with your chosen plan.

The table below details some common activities and the costs involved outside of any monthly plan allowance.

Transfers between Tide accountsFree
Transfers to/from a non-Tide account20p
ATM cash withdrawals£1 
Card payments in the UK or abroadFree
Replacing a cardFree
Cash deposits at the Post Office0.5% of the deposit value (minimum £2.50)
Cash deposits at a PayPoint3% of the deposit value
Expense card (for team members to use)£5 per card, per month

Easy account access

According to NerdWallet’s survey of business owners, easy account access is the second most important criteria when searching for a business account. 

You can access your Tide business account on the provider’s app, or via the Tide website (though you may still need your mobile phone to hand when logging in online). 

Tide is a digital-only business banking provider. It has no high-street branches, so it might not suit your business if you would prefer to speak to someone face-to-face to manage your account.

Account set-up

A quarter of business owners feel that being able to set up an account quickly is important when looking for a business account, according to our survey. Tide claims to open most accounts on the same day as application, so it could be an option if you want a business account fast.

If your application is approved, you could receive your sort code and account number within minutes, enabling you to start using the account. 

FSCS protection

The third most important criteria for business accounts, according to business owners from our NerdWallet survey, is that deposits are protected by the Financial Services Compensation Scheme (FSCS).

Tide offers two types of business accounts. Its business bank accounts, provided by ClearBank to new customers, are covered by the FSCS. Up to £85,000 worth of deposits are protected and would be reimbursed to you automatically if ClearBank were to fail.

Its existing e-money accounts are not protected by FSCS. However, as an electronic money institution (EMI), Tide must protect customers’ money deposited in e-money accounts through a process called ‘safeguarding’. Tide does this by keeping the money in a separate account from its own funds; the money cannot be invested or lent to customers.

Existing customers with e-money accounts will be contacted by Tide about moving their accounts to ClearBank bank accounts.

Mobile phone app

The ability to manage a business account via a mobile app is important for business owners, who ranked this feature fourth most important overall in NerdWallet’s survey. 

Business owners who wish to manage their money on the go can do so with a Tide business account. Tide accounts are accessible via a mobile app, available on Apple and Android devices. 

Customer service

You can contact Tide’s customer service team in the following ways:

Customer reviews

Tide has received generally positive reviews on different review sites. 

This information is correct as of 27 February 2023.

Tide business account eligibility

To be eligible to open a Tide business account, you must:

If you’re a sole trader or freelancer, you’ll need to prove you have a UK residential address. If you run a limited company, it must be registered with Companies House and you need to be a director to apply.

There are a number of industries that Tide does not support, including but not limited to:

You can find out more information about prohibited industries on Tide’s website.

What’s more, Tide currently will not open business accounts for charities or business partnerships. 

How to choose a Tide business account

There are a number of questions that you could ask yourself when looking at a Tide business account or when comparing other providers:

How to apply for a Tide business account

You can open a Tide business account online. When you apply, you’ll need to download the Tide app on your smartphone.

To apply for a Tide business account, you need to:

  1. Apply via the app.
  2. Provide business and personal details.
  3. Submit proof of ID.
  4. Wait for approval.

Apply via the app

You can apply for a Tide business account via its app, available on iOS or Android.

It’s also possible to apply on the Tide website, though you will need to have your mobile phone to hand so you can verify your identity.

Provide business and personal details

In your application, you’ll need to provide Tide with details, such as your name, address, and contact information, as well as information about your business, including what it does and any shareholders it has.

You’ll need to tell Tide whether you’re a sole trader or run a limited company. If you run a company, you must be one of its directors to be eligible to apply. 

Sometimes you may be asked to provide proof of address or proof of business, in which case you would need to send Tide any of the supporting documents it requires. These could be council tax or utility bills to prove your address, and a website or social media profiles to prove your business.

Submit proof of ID

Tide will want to see some ID when you open an account, such as your passport or driving licence, and it will ask you to send a selfie to prove your identity.

Wait for approval

Tide won’t conduct any hard credit checks when you apply to open an account. However, it will run checks on your identity which will appear on your credit file but won’t affect your credit score.

If all goes to plan, Tide aims to help businesses open an account in minutes – though it may take longer if your business is more complex. You should receive your payment cards in two to four working days.

If you plan to open a business account and register your business as a limited company with Companies House, Tide can facilitate this. You can register through Tide and it will pay the £12 incorporation fee.

Review methodology

At NerdWallet Ltd UK we base our reviews on the results of surveys we conduct to understand what key product features are important to those who use them, and align them to the product we review.

Product details reflect the information that was available at that time but may have changed since. We strive to give you a review on as many products as possible but it is likely there are others available that we have not reviewed. The review is our opinion, but it does not constitute advice, recommendation or suitability of your financial circumstances.

You can view our review methodology here.

About the Authors

Rhiannon Philps

Rhiannon has been writing about personal finance for over three years, specialising in energy, motoring, credit cards and lending. After graduating from the University of Cambridge with a degree in…

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Kristina Fox

Kristina was a writer at NerdWallet who focused on writing finance content for small businesses, as well as young people and students. A recent graduate trading French for finance, she…

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