Tide promo codes for July 2024

Deal

Get a £50 voucher when you open a Tide business bank account using the code £50VOUCHER

In need of a new business banking account? Tide has got you covered! Open it in minutes and enjoy a fee-free account. T&Cs apply.

About Tide

Tide is an all-in-one business current account aimed at small businesses that want an easy way to manage their day-to-day finances.

You can open a new account quickly and easily online or through the app. Once you download the app, you’ll find a bunch of useful tools to help you manage invoices and set up spending limits.

It’s not a “proper” bank, which does have some drawbacks – like the fact your business won’t be able to accept cheques. Payments by cheque are in decline, but there’s always a chance this could cause an issue if you have a client who insists on paying in a particular way.

On the plus side, even though it’s not a bank, Tide’s partnership with ClearBank (which is an authorised bank) means your funds will be protected by the Financial Services Compensation Scheme (FSCS) up to £85,000.

Check out the main pros and cons of Tide below to find out more.

Pros and cons of Tide

Pros

  • Easy to open a new account
  • No fees or cap restriction to access funds
  • Low minimum deposit to get started
  • FSCS-protected up to £85,000
  • Receive fees direct to your account with the Tide Card Reader (with unlimited mobile data)
  • 24/7 in-app support
  • No monthly fees or contracts
  • Built-in accounting tool
  • Manage company expenses and set spending limits

Cons

  • Not an official bank account
  • Currently doesn’t accept cheques
  • No arranged overdraft
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