Open an account with Tide
- Free business Mastercard
- No foreign transaction fees
- In-app support
- Invoice directly from your Tide app
Tide is a fintech app looking to make waves in the growing field of challenger banking. Rather than offering accounts for everyday spending, Tide specialises in business current accounts, providing a specialised service to help businesses grow. With its unique approach Tide has gained a lot of positive attention from technology and consumer critics.
Tide offers business current accounts to small businesses and freelancers, hoping to relieve them of some of the financial stress that comes with a growing company. Tide’s business accounts come with a number of features that address some of the most stressful aspects of working for yourself, and offer all of this for free.
Like many other fintech apps, the majority of Tide’s features are found on your smartphone. The card you’re sent in the post is the only physical aspect of your Tide account.
The Tide app offers a number of resources to help freelancers nurture their businesses and organises them into a series of easily accessible pages.
The app at its core is simple and streamlined, with some more advanced and decorative features present to help exaggerate its convenience. The pages of features include:
Tide also offers credit cards, allowing you to borrow a bit extra at competitive rates. As mentioned above, Tide also aim to offer savings accounts too.
Your Tide account has the same fees whether you use it in the UK or abroad. This means that any transactions or withdrawals you make while you’re overseas will only be subject to exchange rates, no extra charges. The only international hurdle you will face will come from transfers, which as of yet have not been implemented.
One of Tide’s other big selling points is its competitive, and at points non-existent, fees. The main charges come in the form of:
Unlike some of the other fintech current accounts, Tide doesn’t lend, invest or move your money around, meaning its always accessible and always yours. Not only do you have to authenticate your account using a password, you also have to authorise all payments through your phone.
Tide also request a selfie every time you long onto a new device to make sure it’s actually you.
Tide is a great asset, its utility belt of tools helps you nurture the growth of your business and manage your finances, all while being free to download and with only a small collection of fees and charges.
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