Opening a business bank account with Tide is a simple process that takes no more than 10 minutes.
Here is a step-by-step guide on how to get started:
- Apply online or via the Tide APP.
- Tide will send you a text message with a link to download the App.
- Submit your basic business information, including your name, phone number, email address, and limited company name.
- Use the App to scan your ID and take a selfie for verification purposes. Accepted IDs include driving licenses, passports and most European National ID cards.
- Provide additional details about your business, such as the number of directors, and what your business does.
- Most business bank accounts will be approved within minutes, and your account will be active immediately. Your bank card will be delivered to you within a few days.
This streamlined process allows you to quickly and easily establish a business bank account with Tide, giving you the financial tools you need to grow and manage your business.
Opening a Tide Business Account: What are the Requirements?
To open a business account with Tide, you must be 18 years old and have a valid UK phone number.
- You should be the the director of a limited company registered with UK Companies House, or a sole trader registered with the UK tax authority (HMRC)
- You need a valid UK residential address.
- You must have a device registered to a UK app store, such as the App Store or Google Play. The App is necessary to download the Tide mobile app, which is essential to the account opening process.
- Individuals not based in the UK but with European identification documents and a company registered with UK Companies House may be eligible to open an account with Tide.
Who Can’t Open a Tide Account?
|Industries Excluded from Opening a Tide Business Account|
|Businesses which hold, manage, and/or control a third party’s (client’s/customer’s) funds in a Tide account. This includes using the funds on behalf of other individuals|
|Insurance companies or brokers|
|Trading of cryptocurrencies|
|Wholesale of precious metals and stones|
|Investments (including real estate investments)|
|Money services (such as foreign exchange, loan providers, and money transfers)|
|Casinos, prize draws, and other betting or gambling activities|
|Sale of unlicensed pharmaceuticals|
|Sale or trade of cannabidiol (CBD) products|
|Trading of weapons, explosives, or armaments|
|Unlicensed trading and processing of scrap metal|
|Unlicensed waste management|
|Sale, import, and export of used vehicles or heavy machinery|
|Escort services and other services in the adult industry|
|Bidding fee auctions|
|Non-profit organizations, including charities|
|Community interest companies (CICs) and charitable incorporated organizations (CIOs)|