Tide Customer Reviews & Expert Rating

Tide offers a digital business bank account designed primarily for freelancers, contractors and small businesses. The account can be opened in minutes through the Tide app and includes tools to help manage payments, expenses and accounting in one place. One of the main attractions is that the basic business account has no monthly fee, making it one of the most accessible business banking options for UK startups and sole traders.

Is Tide’s business bank account free?

Tide’s Free plan costs is free, but users pay small transaction fees depending on how they use the account. For example, the free account includes five free bank transfers per month, after which transfers cost 20p each, while ATM withdrawals cost £1 per withdrawal. Cash deposits at the Post Office cost 0.99% (minimum £2.50).

Businesses that need more features can upgrade to paid plans.

• The Smart plan costs £12.49 per month
• The Pro plan £24.99 per month
• The Max plan £69.99 per month

Tide’s paid accounts offer more free transfers, additional accounts, enhanced team access come with lower transaction fees, particularly for international payments and foreign currency transactions.

What is Tide good for?

Tide focuses on simplifying financial admin for small businesses. The platform includes built-in accounting and tax tools, including free Making Tax Digital (MTD) filing for HMRC. Transactions are automatically categorised, helping businesses track spending and prepare accounts more easily.

Businesses can also send invoices, create payment links, accept in-person payments using a card reader, and issue expense cards for team members. Tide integrates with accounting software such as Xero and QuickBooks, making it easier to share financial data with accountants.

Another useful feature is the Tide Instant Saver account, which can pay up to 4% AER (variable) for the first four months, before reverting to lower rates depending on the plan you hold.

However, businesses that handle large numbers of transactions may find the pay-as-you-go fees on the free plan add up, meaning upgrading could be worthwhile. Overall, Tide is a strong choice for startups looking for simple, modern business banking.

Is Tide a bank and is your money safe?

Tide itself is not a bank, but its business current accounts are provided through ClearBank, a fully licensed UK bank. This means eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per business, giving similar protection to traditional banks.

However this amount is spread across all other accounts that may be held at ClearBank.