How to Open a Tide Business Account

Tide helps over 750,000 UK-registered business owners, sole traders, and freelancers.¹ It provides business accounts, tools, and services that can be managed online. It's more than a conventional bank. And smart options like the Tide Business current account are clear proof of this. This account provides a secure way to manage your company's funds, especially when you need to send or receive payments.

This guide explains everything you need to know about opening a Tide Business account. It sheds light on the core features, fees, and extra services.

Since Tide may not suit everyone, we’ll also touch on Wise Business as a low cost, flexible alternative. This could be a good option for companies that work with international customers, suppliers, and contractors, but also need everyday payment capabilities.

💡 Learn more about Wise Business

Tide business account overview

Tide offers business current accounts with four plan options: Free, Smart, Pro, and the new Max tier. Each plan offers a range of features and fees to suit different customers. You can choose a Free plan with no monthly fee, or upgrade to a paid account with ongoing fees and more capabilities.²

All customers with a Tide Business account can also open an Instant Saver account to earn up to 4% AER (variable) on their excess funds.³ Although the features of your Tide account vary by tier, you can expect some of the following benefits:2

• GBP account with linked debit card for spending and ATM withdrawals
• Free invoicing and accounting integrations to save time
• Easy ways to schedule payments to streamline processes
• Options to add team members to your account with read access
• Max tier accounts also offer 0.5% cashback on eligible card spending
• 24/7 in-app support available across all tiers, including Free

Tide Business account highlights

Here’s a quick overview of what you can expect with Tide - read on for more about how to open a Tide Business account, and what you’ll need to pay.

Types of Tide Business accounts

Here’s a quick overview of what you’ll pay - and what features you’ll unlock with different Tide Business account plans:

All Tide Business account tiers include essentials such as invoicing tools, accounting integrations, digital check and cash deposit options, and team access controls. Paid plans (Smart, Pro, and Max) offer lower FX fees for card spending and international transfers than the Free tier.

The Max plan goes a step ahead by providing enhanced rewards. These include a 0.5% cashback on card purchases, additional free accounts, and priority support.

International Payments with Tide

Tide business accounts are GBP-based, but they support international payments in a limited way. You can send and receive euro (EUR) payments via SEPA, while all other currencies are typically converted into GBP rather than held in separate balances.

In terms of fees, Tide keeps pricing relatively simple:2

• EUR SEPA transfers: 5 free per month on the free plan, then £0.20 per transfer
• FX markup: 1.5% on the free plan, reduced to 0.5% on paid plans
• Foreign transfers (non-GBP): Typically £0.20 per transfer + FX markup
• Card payments abroad: 2.75% FX fee on the free plan, with 0% FX fees on paid plans

So, Tide is a practical option for UK businesses that mainly operate in GBP and occasionally send or receive EUR payments. However, its limited support for holding and managing multiple currencies makes it less suitable than dedicated multi-currency accounts for businesses with broader international needs.

Scaling your business globally? It's worth considering Wise Business, you can send money to 140+ countries, at the mid-market exchange rate and no hidden fees. You can receive payments from 24+ currencies and with local account details in 8+ currencies, you can operate internationally as if you were a local business. Unlike Tide, within the Wise Business account, you can also hold and manage up to 40+ currencies, making international trade with ease.

💡 Learn more about Wise Business

How to open a Tide Business account?

You can apply for a Tide Business account if you have a UK-registered company with a UK mailing address. Or, if you’re a sole trader or freelancer living in the UK and registered with HMRC. The process is fully digital, and, as an Authorised Corporate Service Provider (ACSP), Tide can verify your identity with Companies House at the same time, issuing a personal code that is stored securely in your app.

1. Download the Tide app and click Open an account
2. Follow the prompts to enter your personal and company information
3. Get verified by uploading an image of your ID and a selfie

In many cases this is all that’s needed - but sometimes Tide will require additional documents or information based on your sector and business type. If this is the case for you, Tide will reach out to inform you of what’s needed.

What do I need to open a Tide business account in the UK?

All Tide customers must complete verification checks to confirm their identity, address, and business details. You'll need a valid form of ID, such as a passport, driving licence, national ID card, or biometric residence permit.⁵,⁶
If digital checks fail, Tide may also request proof of address.

This can include:⁷

• A recent utility bill
• A council tax bill
• A bank statement

If you run a limited company, it helps to have your Companies House registration number, registered office address, and key company details ready.

When you start your application, you'll be guided through a straightforward digital process to submit all the required details and complete the identity checks.

How long does it take to get a Tide business account?

Tide is proud that the online process for opening an account and for verification is pretty slick. In fact, over 50% of Tide customers can set up their account in just 10 minutes, and over 80% get everything sorted within 48 hours⁶.

To make sure the account opening process runs smoothly for you, be sure to check exactly what documents and details are needed in advance and make sure that all your documents are up to date.

Does Tide have a UK banking Licence?

Tide is not a bank. It is regulated by the UK's Financial Conduct Authority (FCA) as an electronic money institution.
Tide Business accounts are provided in partnership with ClearBank, a fully licensed UK bank authorised by the Prudential Regulation Authority (PRA) and the FCA. This means eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, in line with UK regulations.⁹

So while Tide doesn't hold its own banking licence, its accounts benefit from the same deposit protection you'd expect from a traditional UK bank.

Is Tide a trustworthy bank?

Tide isn’t a bank, but it’s a trustworthy, reliable and regulated service. When it comes to security, Tide is built with smart features designed to keep accounts safe. All customers must complete verification checks, and funds are safeguarded to help protect your money, even in the unlikely event that Tide were to fail.

If you'd like to see what other customers think, review platforms such as Trustpilot can offer helpful insight. On Trustpilot, Tide holds a 4.4 out of 5 "Excellent" rating based on more than 32,500 reviews. Since Trustpilot publishes live feedback, you can always check the most up-to-date reviews before deciding to sign up.10

Wise Business - Alternative to Tide Business account

The UK market offers plenty of options for business owners and sole traders who need to manage their business finances digitally.

Alongside the Tide Business Account, you may want to consider Wise Business. In addition to handling everyday finances in the UK, it provides a low-cost way to send, spend, receive, and convert foreign currencies. With Wise, you'll always get the mid-market exchange rate with all fees transparent.

With Wise Business, you can:

• 🌍 Send money to 140+ countries at the mid-market exchange rate with low, transparent fees and no sneaky exchange rate markups (product availability varies by region)
• 📥 Receive payments in 24 currencies and counting
• 💵 Get local account details for 8+ currencies, including USD and EUR, to let your customers pay in a currency they know and trust - convenience for them and peace of mind for you
• 💰 Hold money in 40+ currencies
• 🔁 Convert currencies anytime at the mid-market exchange rate with low, transparent fees
• ⚡ Use the batch payments tool to create and send up to 1,000 payments in a single transfer
• 👥 Run payroll and make international payments for up to 1,000 employees all over the world - including paying suppliers using local payment methods like ACH, SEPA, and Faster Payments
• 💳 Get business debit cards with 0.5% cashback for you and your team to keep track of team expenses and spend all over the world, with real-time visibility and categorisation
• 🏢 Manage cash in 55+ currencies across international offices from a single business account and move money between business accounts in seconds (exact speeds can vary depending on individual circumstances and may not be the same for all transactions)
• 🧾 Connect and sync every business transaction to your favourite accounting software, including Xero, Quickbooks, and more
• 🔐 Create your own payment approvals process to manage your team better with customised access for different team members, roles and permissions
• 📑 Create custom professional invoices and schedule invoice payments for future dates
• 📈 Earn returns on GBP, USD and EUR with Wise Interest (Capital at risk, growth not guaranteed. Your money is at risk if governments default or interest rates go negative. Visit https://wise.com/gb/interest/ to find out more)
• 🔗 Create payment links and QR codes to get paid easily
• ⚙️ Automate payouts with the Wise API (comes with 24/7 customer support, a sandbox account to test integrations, API tokens, and clear documents on how to implement and make the most of our API)

Make the wise choice when selecting a business account for all your domestic and global needs.

Be Smart, Get Wise.

Register for Wise Business ✍️

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Investments can fluctuate, and your capital is at risk. Interest is offered by Wise Assets UK Ltd, a subsidiary of Wise Payments Ltd. Wise Assets UK Ltd is authorised and regulated by the Financial Conduct Authority with registration number 839689. When facilitating access to Wise investment products, Wise Payments Ltd acts as an Introducer Appointed Representative of Wise Assets UK Ltd. Please be aware that we do not offer investment advice, and you may be liable for taxes on any earnings. If you're uncertain, we urge you to seek professional advice. To find out more about the Funds, visit our website.

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Tide Business accounts can be a solid choice for UK business owners, offering multiple plans to suit different needs and budgets.
However, they don't provide local account details to receive payments directly in foreign currencies, nor do they allow you to easily hold and exchange multiple currencies within the same account.

If your business works with international clients, marketplaces, or payment service providers, or plans to expand globally, Wise Business may be a more flexible and cost-effective option.

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*Disclaimer: The UK Wise Business pricing structure is changing with effect from 26/11/2025 date. Receiving money, direct debits and getting paid features are not available with the Essential Plan which you can open for free. Pay a one-time set up fee of £50 to unlock Advanced features including account details to receive payments in 22+ currencies or 8+ currencies for non-swift payments. You’ll also get access to our invoice generating tool, payment links, QuickPay QR codes and the ability to set up direct debits all within one account. Please check our website for the latest pricing information.

Sources used in this article:

1. Tide now supports 1.5 million businesses globally
2. Tide pricing
3. Tide business savings account
4. Joining Tide – Do you carry out credit checks?
5. Tide FAQ - What ID do I need?
6. Companies House Identity Verification
7. Joining Tide – Proof of Address
8. Tide FAQ - How long does it take to open a Tide account?
9. FSCS
10. Tide - Trustpilot

Sources last checked 30-March-2026