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Tide: Business Banking reviews

Name: Business Banking
Rating: 4.8 (5676 reviews)

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4.77

Based on 5,676 reviews, last reviewed 17th Dec 2024

No new 5 star reviews

in the past 90 days

40% decrease in 1 star reviews

in the past 90 days

89%

Latest highest rating:

5

Very good At the moment no problem, not expensive for fees Reviewed on: 28th May 2024

Latest lowest rating:

1

We have operated a Tide Ltd Company account for over... We have operated a Tide Ltd Company account for over 2 years, today without any prior notice or giving a reason they closed our account, one week befo... Read more Reviewed on: 17th December 2024

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About this product

Want to read Tide Business Banking reviews from small business owners like you? Read them here on Smart Money People, where our community of reviewers share their experiences on things like charges on the account, availability of capital and customer service, and anything else to do with this innovative business banking account. Already used Tide's business banking account? Please post a quick review yourself, and help out other small business owners who are looking to decide if this is the right solution for their needs!

Tide Business Banking reviews (5676)

Review of the Tide, Business Banking:

The best!

I have two business accounts with Tide and have recommended several friends and family with businesses (and took advantage of the £50 referral bonus!) any issues I’ve had at all with Tide are resolved quickly and effectively with their chat app, they’re also extremely helpful on the phone. My last experience with them was upgrading my account to benefit from the change in fees and cash back, the customer service agent was brilliant and thorough explaining all the options so I was able to make a decision. I’d never hesitate to recommend Tide. Reviewed on: 10th April 2023

Great app

Tide invoicing feature is really useful , tide account is really easy to open and SONY WAS AMAZING AND REALLY REALLY HELPFULLY . Reviewed on: 11th April 2023

Always cater for upcoming businesses like mine.

The system and method of interaction with customer in helping them is superb and smarter. Reviewed on: 11th April 2023

Easy Banking with Tide

From setting up the account to management, it could not be easier. Great customer service and everything is slick and transparent. Recommend to friends and family. Reviewed on: 11th April 2023

Yesmeen was fantastic

She is very nice and help led me set up my account Reviewed on: 11th April 2023

Easy, breezy, business!

Tide is honestly an amazing bank for my business. Easy sign up hassle free chat boxes when you need to speak to a human and overall a great app and business resources to help you. Start up business owners this is your sign! Reviewed on: 11th April 2023

Anwal was very helpful..he tell everything about tide business account and helped me creating business account

Anwal was very helpful..he tell everything about tide business account and helped me creating business account Reviewed on: 11th April 2023

Yesmeen is very good

She helped me setup my veey 1st business account quickly Reviewed on: 11th April 2023

Really like the app

Tide has got an amazing app , It’s really good and user friendly and thanks to Sony for introducing to me .. great work Sony . Reviewed on: 11th April 2023

Yesmeen was excellent

Fast abd easy to setup my business account Reviewed on: 11th April 2023

Good, but with limitations

Good points: - Perfect solution for Sole Traders - Incredibly smooth account step-up and onboarding process - A great all-in-one stop from those setting up a new business inc. a discounted London business address through Hoxton Mix Easy invoicing process (although the template email needs improvement) - App is easy-to-use, with pleasant visual design - Frequent improvements and new features show that Tide care about Pain points: - Customer service chat response times can be veeeery slow. Personally, I don’t think access to basic service levels should be hidden behind a paywall. Monetisation strategies are a real challenge for new challengers to the market, but this is very short-sighted. Frustrated customers don’t become brand advocates! - If their app isn't working, there is literally no way of getting contact, even in an emergency! I resorted to messaging a member of Tide staff via LinkedIn (they were really helpful though) - Because Tide is not a UK registered bank, you cannot make Directors Pension contributions into a SIPP by card payment. For some SIPP providers, this is the only payment option. Thankfully, certain SIPP providers (such as Hargreaves Landsdown) allow you to make contributions by bank transfer from within the Tide app, but you have to make the request by email. When I asked Tide for information, they told me flatly that I was wrong! This was because they didn't understand the difference between Directors Pension Contributions, into a SIPP, Personal contributions into a SIPP and Workplace Pension Contributions. I had to work all of this out for myself. As specialists in Business Banking, they really need to brush up on this knowledge as it has massive tax implications for Ltd company directors, and customers may be misinformed if they don’t hire an accountant. Neutral - For Ltd companies, the categorization of transactions/expenses isn’t specific enough. Even as a sole Director with no employees, I still have to use 3rd party accountancy software to correctly work out my profit etc. The full list of categories in Intuit Quickbooks (full version, not the light ‘self-employed’ version) is a good reference point. Result: I'm sticking with Tide for now, as I like to champion an underdog. It's still a very new company. Fingers crossed they become a UK Registered bank soon, and I hope my feedback helps them to improve. Reviewed on: 11th April 2023

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