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Mike Smith
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Reviewed by Mike Smith
Mike Smith is an experienced financial professional and serial entrepreneur with over four decades of experience in the financial services industry. He began his career as a financial planner in 1979, and within 11 years, he and his co-directors had grown the financial services business to one of the largest… Read More
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April 4, 2024

Opening a business bank account with Tide is a simple process that takes no more than 10 minutes.

Contents
  1. Here is a step-by-step guide on how to get started:
  2. Opening a Tide Business Account: What are the Requirements?
  3. Who Can’t Open a Tide Account?

Here is a step-by-step guide on how to get started:

  1. Apply online or via the Tide APP.
  2. Tide will send you a text message with a link to download the App.
  3. Submit your basic business information, including your name, phone number, email address, and limited company name.
  4. 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.
  5. Provide additional details about your business, such as the number of directors, and what your business does.
  6. 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.

Tide Free Business Account
£50 cashback when you open a Tide account *
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Our top rated account for small business
No monthly or annual fees
Connects with virtually every accounting software
Great For
  • One of the best Apps in the sector
  • No Monthly or Annual Fees
  • Easy Invoice Creation Functionality
But be aware that
  • Post Office Deposits Cost £1
  • 20p charge for transfers between accounts
  • 3% charge for cash deposits at Paypoints
You must be 18 years or over, a UK resident, and with a valid phone number.

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
Third-party funds
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)