Tide’s business savings account, Instant Saver, was launched in December 2023 and continues the brand’s rapid expansion as one of the major UK challengers.

However, with so many savings accounts available, how do you know if the Tide Instant Saver Account is your best option?

In this review, I will take an in-depth look at the pros and cons, including the interest rate, and the terms and conditions of the account. I  will also compare it to other instant and easy-access savings accounts so you can be sure you’re making the right decision for your business. 


Tide Business Savings Account: My Verdict

Overall, I see the Tide Business Savings Account as one of the most appealing business savings accounts currently available. Given how it sits within the broader offering of a top current account, business card reader and quick access to finance, it continues Tide’s impressive range of SME offerings at the same high level.

The account has no monthly account fees or withdrawal limits. Its low minimum opening balance of £1 and a competitive variable interest rate of 4.33% AER make it an attractive and affordable option for businesses of all sizes. 

The only downside is that ytou must hold a Tide Business Account before applying for a savings account, which could be a drawback if you don’t want to manage multiple current accounts. But since this is one of our top rated accounts anyway with a host of useful functionality, it shouldn’t really hold anyone back.

As the Instant Saver Account is Tide’s only business savings product, the variable rate may not be suitable for those wanting to achieve more predictable growth.

However, if you’re looking for flexibility to access your savings anytime, these drawbacks may be worth the compromise. 

Pros & Cons of the Tide Business Savings Account


  1. User-friendly: Conveniently manage all of your business’s finances from one platform.
  2. Quick Application Process: Accounts can be approved in as little as 10 minutes.
  3. Competitive Interest Rate: The Tide Business Savings Account has a variable rate of 4.33% AER or 4.25% gross.
  4. Low Minimum Deposit: Open your Tide Business Savings Account with an opening balance of just £1.
  5. Flexible Withdrawal Options: The Tide Business Instant Saver Account gives you easy access to your money with no withdrawal limits or notice required.
  6. No Monthly Fees: It’s free to open a Tide Business Savings Account, with no charges associated with the account. 
  7. Deposit Protection: Balances up to £85,000 are covered by the FSCS protection if you have a ClearBank account.
  8. Regular Interest Payments: Interest is calculated daily and paid monthly.
  9. Responsible Mobile App: Available on both the Apple App Store and the Google Play Store, the Tide mobile app makes it easy to manage your account on the go. 


  1. Limited Account Options: Tide only offers one type of business savings account, so it may only meet the needs of some businesses.
  2. Interest Rate Fluctuations: The Tide Business Savings Account has a variable interest rate, so many increase and decrease, leading to unpredictable growth. 
  3. Limited Physical Presence: Tide operates solely online, which may be a drawback for businesses that prefer or require in-person banking services.
  4. For Tide Business Customers Only: You can only apply for a Tide Business Savings Account if you also have a business current account with them, which may be an issue if you don’t want to open another account.
  5. Customer Support: Customer support is mainly accessed through the in-app secure messaging service, which could be a drawback for those who prefer talking to someone over the phone. 
  6. Newer Institution: Tide is as established as other financial service providers, which may lead to concerns about its reliability. 
  7. Possible Service Outages: As an online platform, Tide may be susceptible to service outages or technical issues, temporarily limiting account access.

Tide Business Savings Account Features

Interest RateVariable rate of 4.33% AER / 4.25% gross. Calculated daily and paid monthly.
Minimum DepositOpen your Tide Business Savings Account with as little as £1.
WithdrawalsInstant access account with no limits or notice required. Withdrawals can be made online into the main Tide Business Account.
ProtectionDeposits up to £85,000 are covered under FSCS.

The Tide Instant Saver Account offers a competitive variable interest rate at 4.33% AER / 4.25% gross. Interest is calculated daily based on the account balance and paid monthly.

The interest rate can change due to several factors, including adjustments to the Tide Margin or the Bank of England Base Rate. Tide provides notice for decreases in the Tide Margin but may not give notice for increases. Additionally, the Bank of England Base Rate changes can impact the interest rate without prior notice. Negative interest may apply based on market conditions.

The Tide Business Savings Account is an instant access account which can be opened with a minimum opening balance of £1. There are no withdrawal limits, and withdrawals can be made online into the main Tide Business Account. 

You must have a Tide Business Account to apply for a savings account, and it’s important to note that the maximum balance is shared between the two accounts. This means that the combined total of your Tide Business Current Account and Savings Account cannot be more than £1,000,000.

If you wish to close your Tide Instant Saver Account, the balance and accrued interest will be transferred to your Tide Business Account or a nominated account if both accounts are closed before your money is moved.

Business Savings up to £85,000 are protected under the Financial Services Compensation Scheme (FSCS), giving you an extra layer of financial security.

Who is Eligible for a Tide Business Savings Account?

To be eligible for a Tide Business Savings Account, you must be:

  • A UK resident
  • At least 18 years old
  • An active Tide Business Account holder
  • Be a sole trader, freelancer or a limited company.

To open a Tide Business Account, you must:

  • Be at least 18 years old
  • Have a valid UK phone number
  • Have a device that can access the UK Apple App Store or Google Play Store.
  • Be a limited company, sole trader or freelancer. 

Directors of limited companies are eligible to apply for a Tide Business Account if registered with Companies House. If you need to register, Tide can help with the process and will cover the Companies House admin fee. 

Similarly, sole traders and freelancers must have a valid UK home address and be registered as self-employed with HMRC. 

You may be able to apply from outside of the UK if you meet the eligibility criteria. However, Tide may carry out additional checks during the application process.

Ineligible businesses

Tide Business Accounts have specific restrictions, and certain types of businesses cannot open an account due to risk factors such as the nature of the business, its revenue sources, and industry operations. 

To maintain member safety, provide full support, and align with ethical business practices, Tide does not accept applications from charities and businesses funded fully or partially by regular donations, especially if the origin of these funds cannot be traced.

Additionally, Tide cannot accept businesses in the following industries:

  • Holding, managing, or controlling a third party’s funds in the Tide account.
  • Insurance companies, including insurance brokers.
  • Trading of cryptocurrencies.
  • Wholesale of precious metals and stones.
  • Investments, including real estate investments.
  • Money services, including 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 organisations, including charities, CICs, and CIOs.

How Do You Open a Tide Business Savings Account?

Before opening a Tide Business Savings Account, you must have an active Tide Business Account. 

To open a Tide Business Account:

  1. Download the Tide mobile banking app on the Google Play Store or Apple Store.
  2. Provide basic information about your company, including its name and industry.
  3. Upload a photo of your ID and take a selfie for secure identity verification. Most European National ID cards, international driving licenses, and passports are accepted.
  4. Tide will check your application and check you meet the eligibility criteria. You should expect to receive a decision between 10 minutes to 48 hours. Additional information may be requested if needed.
  5. Once approved, your account is ready to use. Tide will send your card in a few days, and you can apply for a business savings account. 

To open a Tide Business Savings Account:

  1. Open the Tide mobile app and tap “Instant Saver Account”.
  2. Make a minimum opening deposit of at least £1 from your Tide Business Account by online transfer. 

Tide Business Savings Account Fees and Charges

There are no cost associated with a Tide Business Savings Account. Transfers between your Tide Business Account and your savings account are free. 

However, you may experience fees and charges depending on which Tide Business Account you open. 

The table below summarises the main costs you may experience:

Monthly Account Fees£0 – £49.99 + VAT
Expenses Cards£0 – £5 per month
Transfers In & Out0p – 20p per transfer
ATM Withdrawals£1
Cash Deposits£2.50 or 0.5% – 3% (depending on method & amount)

User Experience

Tide’s online banking platform provides a seamless user experience with plenty of features tailored to enhance efficiency and save time and money for small businesses, sole traders, and freelancers. 

Accessing and managing finances is flexible, whether through the mobile app or desktop access. 

The table below shows which browsers and operating systems are supported by Tide

BrowsersMobile Operating Systems
ChromeiOS 13.7 or later
Microsoft Edge Android 9 and above

Note: Tide is not compatible with Windows phones.

When using your Tide Business account, the platform automatically categorises income and spending, allowing users to customise labels to align with their company’s needs. Managing expenses is made easy through the ability to upload receipts, auto-match them to transactions, and store everything digitally. 

The platform also offers convenient payment options, including creating and sending invoices, using Payment Links for immediate payments, and accepting contactless payments with the Card Reader.

Invoicing becomes more straightforward as the app enables the creation, payment, and tracking of invoices without needing a separate system. Accessing and managing finances is flexible, whether through the mobile app or desktop access. Moreover, the platform offers ready access for team members or partners, facilitating collaborative financial management.

Efficient data export is supported through the ability to download CSV files, and seamless integration with accounting software such as Xero, QuickBooks and Sage eliminates the need for manual uploads. Instant card management allows users to freeze, unfreeze, cancel, or reorder their cards anytime, enhancing security. The platform provides 24/7 support from the Member Support team directly through the app, ensuring assistance is readily available.

Security Measures

Tide has several security measures in place to ensure the safety of your account, including:

  • FSCS protection of deposits up to £85,000 if you have a ClearBank account.
  • Partnering with well-established businesses such as ClearBank
  • Two-factor security for all new payees and payments on mobile devices
  • Default safe limits set on transaction saves and account balances. Adjustments to your limits can be made by contacting Tide.
  • ISO 27001 certification showing Tide’s information security processes have undergone external auditing and verification by an independent certification body. 

Customer Service

Customers can access Tide’s comprehensive customer support by:

Tide offers comprehensive customer support through various channels, including:

  • Sending a secure messenger service through the Tide App
  • E-mailing general enquires to hello@tide.co

In the event of fraud or lost cards, customers can receive 24/7 support by:

  • Contacting a dedicated Fraud Rapid Response Team through the Tide App
  • Calling a UK contact centre (supported by Stop Scams UK) on 159

Tide Customer Reviews

Tide has an ‘excellent’ TrustScore of 4.3 out of 5, with 73% of users rating it five stars.

Users appreciate Tide’s user-friendly interface, particularly its seamless integration with accounting software, ease of managing multiple accounts, and support for the ‘profit first’ approach to cash flow. Some users praise Tide’s quick and efficient onboarding process, emphasising its convenience for small businesses.

Additional reviews further highlight the ‘easy’ account setup process, ‘helpful’ customer service, and ‘knowledgeable’ explanations from Tide representatives receive praise.

Users specifically mention the effectiveness of Tide’s features, such as invoicing, expense organisation, and accounting tools, which contribute to better financial management for small businesses. 

However, a few users mention the need to improve customer support response times, specifically through the chat feature, which may take several days to receive a response.

Some users reported sudden restrictions, funds being withheld and account blocks without clear explanations, whilst others commented on technical issues and disruptions, causing reauthorisation requests and login problems. 

Issues with customer support were highlighted, with slow and unhelpful in-app response times being criticised. They described their experience as “frustrating”, “unresponsive”, and “disappointing”. 

Mobile App

The Tide Business mobile app has an average score of 3.5 stars out of 5 on the Google Play Store and 4.7 out of 5 on the Apple App Store.

The Tide app receives positive feedback from freelancers and small business owners who appreciate its “user-friendly” interface and “quick” account setup. Users find the app beneficial for managing payments, creating invoices and handling expenses, saving valuable time in preparing accounts for taxes. 

However, authentication problems pose significant hurdles, with users expressing dissatisfaction over difficulties accessing their business accounts and facing the app’s lockout mechanism. 

Some users encountered challenges with the photo verification feature, leading to difficulties accessing their accounts. The suggested workaround involving third-party apps is criticised for its complexity and “potential security risks”. On the positive side, some users appreciate the app’s functionality.

Security concerns were also raised, including false malware detection, extensive proof requests, and potential vulnerabilities due to the app’s lockout requiring photo identification. 

Alternatives to Tide Business Savings Account

BankType of AccountInterest RateMin BalanceMax BalanceFSCS Covered
TideInstant Access SavingsUp to 4.33% AER£1£1,000,000 (including Tide Current Account balance)
MonzoInstant Access Savings PotUp to 1.6% AERN/A£100,000
WiseEasy Access Investment FundUp to 5.11%£1N/A
AldermoreEasy Access SavingsUp to 3.25% AER£1,000£1,000,000
CynergyEasy Access SavingsUp to 3.65% AER£1£10,000,000
Recognise BankEasy-Access SavingsUp to 3.55% AER£1,000 or £85,001£250,000

Tide Savings FAQs

Can I link my business current account with the Tide Business Savings Account?

Are there any restrictions on the number of withdrawal transactions from my Tide Business Savings Account?

Are there penalties for closing my Tide Business Savings Account?

What is the interest rate of the Tide Instant Saver Account?

Can Tide change the interest rate?

What would the estimated balance be after 12 months with a £1,000 deposit?