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Tide is an electronic money institution that provides business banking services to small enterprises, freelancers, sole traders, and established limited companies.
Tide does not have physical branches; instead, you may manage your account and get access to everything you need to use an online app. You can create a free account and get a contactless MasterCard for yourself and team cards for your staff.
Tide Business Account Features
- Auto-categorisation - tide business account can automatically tag your income and expenditures and customise the labels to suit your business.
- Managing expense - You can upload receipts, auto-match to transactions, add a note and keep them online.
- Linked with accounting software - Your account can be linked with accounting software like Xero, QuickBooks, etc.
- Tracking invoices - invoices may be sent, paid, and tracked directly from the app.
- Multiple bank accounts - you can create multiple accounts for different business purposes.
- Direct debit - use the app to manage your direct debit payments.
- Downloaded statements - your statements can be downloaded and exported online in different formats.
- Fast-onboarding - after verification, some accounts can be onboarded in minutes.
Tide Business Account Review
Here are a few advantages and disadvantages according to the reviews of customers on Trustpilot.
Advantages:
- It has easy to use mobile app
- Fast local transfers
- Fast onboarding
Disadvantages:
- It doesn’t support international payments
- It is not suitable for Cash-handling businesses
Tide business accounts are ideal for businesses that operate online because they do not enable cash or check payments over the counter.
Tide business account is a good alternative for businesses that are facing problems in opening traditional business accounts due to credit checks. It is an excellent alternative to traditional banks for opening business accounts quickly and with features that help to streamline your business growth.
