Tide Business Banking Review (2026): The Best Account for Speed?

By: Money Navigator Research Team

Last Reviewed: 11/12/2025

Verdict: Tide is the fastest way to open a business bank account in the UK. It is excellent for sole traders, freelancers, and new limited companies who need an account today. However, the “Free” plan comes with a sting in the tail: a 20p fee for every transfer you make.

Also Compare: 

Also Compare: 

At a Glance: Is Tide Right for You?

Feature
Rating
Quick Summary
Speed
5 / 5
Accounts often opened in <10 minutes. No branch visits.
Cost
4 / 5
No monthly fee, but you pay 20p per transfer on the free plan.
Safety
4.8 / 5
FSCS Protected (up to £85k) via ClearBank partnership.
App
4.8 / 5
Excellent for invoicing and tagging expenses.
Eligibility
5 / 5
No Hard Credit Check. Great for bad credit history.

Visit Tide Website

  PROTECTED BY FSCS  

The “Need to Know” Essentials

1. Is Tide Actually a Bank? (The Safety Question)

Technically, no. Tide is a financial technology company, not a bank. However, they partner with ClearBank, which is a fully licensed UK bank.

  • What this means for you: When you open a Tide account, your money is actually held with ClearBank. This means your eligible deposits ARE protected by the FSCS (Financial Services Compensation Scheme) up to £85,000.

  • The Bottom Line: Your money is just as safe with Tide as it is with Barclays or HSBC.

2. The “Soft Search” (Bad Credit Friendly)

One of Tide’s biggest selling points is that they perform a Soft Credit Check to verify your ID.

  • Why this matters: Opening an account will not affect your credit score.

  • Rejection Risk: Because they don't offer overdrafts, they are much more accepting of applicants with poor credit history than high-street banks.

tide business bank
Visit Tide Website

  DIFFERENT PLANS AVAILABLE  

Tide Account Plans: Free vs. Paid

Tide offers four main plans. Most small businesses start with Free and upgrade only when they need to make a lot of transfers.

Tide Free (The Standard)

  • Monthly Fee: £0

  • Transfers: 20p per transfer (in or out).

  • ATM Withdrawals: £1 per withdrawal.

  • Card: Free standard Mastercard.

  • Best For: Freelancers and contractors who only have a few transactions per month (e.g., receiving one salary and paying one tax bill).

Visit Tide Website

Tide Plus (“Smart”)

  • Monthly Fee: £9.99 + VAT

  • Transfers: 20 free transfers per month (then 20p).

  • Perks: Phone support and free legal helpline.

  • Best For: Growing businesses that need a bit more support.

Visit Tide Website

Tide Pro (The Sweet Spot)

  • Monthly Fee: £18.99 + VAT

  • Transfers: Unlimited free transfers.

  • Perks: 2 free expense cards for team members.

  • Best For: Retailers or busy Limited Companies with lots of daily transactions.

Visit Tide Website

  TIDE VS STARLING  

The Comparison: Tide vs. Starling Bank

Feature
Tide (Free Plan)
Starling (Free Plan)
Winner
Monthly Fee
£0
£0
Draw
Transfer Fees
❌ CON: 20p each
✅ PRO: Free (Unlimited)
Starling
Speed to Open
✅ PRO: 5-10 Mins
❌ CON: 1-2 Days
Tide
Credit Check
✅ PRO: Soft Check (No footprint)
❌ CON: Hard Check (Footprint)
Tide
Cheque Imaging
❌ CON: No (Post only)
✅ PRO: Yes (In App)
Starling
International
❌ CON: Basic
✅ PRO: Good
Starling

Feature
Tide (Free Plan)
Starling (Free Plan)
Winner
Monthly Fee
£0
£0
Draw
Transfer Fees
❌ CON: 20p each
✅ PRO: Free (Unlimited)
Starling
Speed to Open
✅ PRO: 5-10 Mins
❌ CON: 1-2 Days
Tide
Credit Check
✅ PRO: Soft Check (No footprint)
❌ CON: Hard Check (Footprint)
Tide
Cheque Imaging
❌ CON: No (Post only)
✅ PRO: Yes (In App)
Starling
International
❌ CON: Basic
✅ PRO: Good
Starling

The Verdict:

  • Choose Starling if you want to avoid all fees and have “Good” credit.

  • Choose Tide if you want the account opened instantly, have “Bad” credit, or want superior admin/invoicing tools.

tide business bank
Visit Tide Website
starling business bank
Visit Starling Website

  HIDDEN FEES  

Hidden Fees: What to Watch Out For

While Tide is transparent, there are costs you might miss if you don't read the fine print:

  1. Cash Deposits: You can deposit cash at the Post Office or PayPoint, but it costs money.

    • Post Office: 0.5% fee (min £2.50).

    • PayPoint: 3% fee (Avoid this if possible!).

  2. International Transfers: Tide is primarily a UK business account. Sending money abroad is possible but costs 20p + 0.5% FX markup. If you trade internationally, we recommend Revolut Business or Wise.

  3. ATM Fees: £1 flat fee every time you withdraw cash.

tide business bank
Visit Tide Website
revolut business bank
Visit Revolut Website
wise business banking
Visit Wise Website

Who is Tide NOT for?

  • Tide has strict “risk appetite” rules. You likely cannot open an account if your business involves:

    • Cryptocurrency trading.

    • Charities or Non-Profits.

    • Money Service Businesses (e.g., Western Union style agents).

    • Investments or Holding Client Funds.

tide business bank
Visit Tide Website

Final Review: Should You Join Tide?

Yes, if speed is your priority.

If you have just incorporated your company or registered as a sole trader, you can download the Tide app and have a Sort Code and Account Number in the time it takes to drink a coffee. The app is brilliant for tagging expenses (e.g., “Train Ticket”) and syncing with Xero, which saves hours of admin.

Just remember: if you plan to make 50+ bank transfers a month, you should upgrade to the Pro plan or look at Starling to avoid the 20p fees.

Open Tide Account

Quick links:

Tide Business Bank Account FAQ's

Because Tide is a financial platform rather than a traditional high-street bank, business owners often have specific questions about how it works, how safe it is, and whether they can get accepted with bad credit. Below, we answer the most common queries our readers ask before signing up.

Is Tide a fully licensed bank?

Technically, no. Tide is a business financial platform (a fintech company). However, they partner with ClearBank, which is a fully licensed UK bank. This structure allows Tide to offer the speed of a tech company while providing the security of a regulated bank.

Yes. Because your Tide account is actually held by ClearBank, your eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000. This is the exact same level of protection you get with high-street banks like Barclays or Lloyds.

No. This is one of Tide's biggest advantages. They perform a “Soft Credit Check” to verify your identity and prevent fraud.

This check is visible to you, but it does not leave a footprint on your credit file that other lenders can see. This makes Tide an excellent choice for new businesses or directors with adverse credit history.

  • On the Free Plan, Tide charges 20p for every bank transfer (sending or receiving money) to cover their costs, as they don't charge a monthly subscription fee.
  • If you make a lot of transfers (e.g., more than 50 a month), it is usually cheaper to upgrade to the Tide Plus or Tide Pro plan, which include free transfer allowances.

No. Tide does not currently offer traditional business overdrafts. However, they do offer “Tide Credit” options, such as business loans and revenue-based finance, subject to eligibility. If you specifically need an overdraft facility, you may be better suited to Starling Bank or a high-street provider.

  • Cash: Yes, you can deposit cash at any Post Office or PayPoint location. However, be aware that fees apply (typically 0.5% at the Post Office and 3% at PayPoint).

  • Cheques: You can deposit cheques via the Tide app (using your camera) up to a certain daily limit. For larger cheques, you may need to post them to Tide's processing centre.

Tide is famous for speed. 53% of new customers open their account in under 10 minutes. Because they use automated ID checks (selfies and passport scans) and connect directly to Companies House, you rarely need to wait days for approval.

  • It is “okay” but not the cheapest. You can hold and send money in different currencies, but Tide charges a fee for international transfers (typically 20p + a markup on the exchange rate).
  • If your business trades heavily overseas, we recommend using Revolut Business or Wise alongside your Tide account to save money on FX fees.

Yes. Because Tide does not offer an overdraft, their risk is lower. Consequently, they are much more accepting of applicants with poor personal credit history, CCJs, or discharged bankruptcies than traditional banks. As long as you pass the anti-money laundering (ID) checks, you have a high chance of approval.

Yes. You can order up to 50 Expense Cards for your team members. You can set individual spending limits for each card and track who is spending what in real-time via the app. This is a standard feature included even on the Free plan (though you pay for the card delivery/issuance on the free tier).

Money Navigator Research Team

Market Research & Comparison Editors

money navigator

About the Authors: We are a team of independent market researchers passionate about helping UK business owners save money. We analyse hundreds of data points from monthly fees to hidden transaction costs to bring you transparent, side-by-side comparisons of the UK's leading financial providers.

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