Can we trust tide.co for online banking?

[burnmehot]

Hello,

I just spoke with rapidformations.co.uk and they refer me to Tide Business Current Account | Get a business account in minutes for bank account opening without personal visit or HSBC in London with personal visit.

How secure is Tide.co ? do you know about horror stories the same as we have read with TransferWise and Mister Tango?

What alternatives are there?

 

[Mark Rucken]

I have no experience with them. Are they for UK companies only?

 

[John Morris]

I had an account with them (I'm a UK non-resident but I hold an EU passport), haven't really used it but I had no problems opening it.

Depending on your revenue, I'd fly to London and try getting a real bank account.

 

[burnmehot]

I have no experience with them. Are they for UK companies only?

they are UK only but I setup a UK LTD now and want to apply for an account there.

Depending on your revenue, I'd fly to London and try getting a real bank account.

you think it would be possible as a non UK resident but with Swedish passport?

 

[John Morris]

you think it would be possible as a non UK resident but with Swedish passport?

Yes. I am from ex-yu and I got it after answering few simple questions. The only problem you'll have is that you can't change the shipping country but you can just put Sweden in one of the address fields - they will redact UK manually, at least they did in my case.

However please take CFC rules into consideration if you are tax-resident in Sweden. Look into Cypriot non-dom residency if you can afford it.

That being said, I think Tide & TransferWise are a fairly good combo for UK LTDs.

 

[Artemis Eleutheria]

https://www.trustpilot.com/review/tide.co
Seems bipolar ... either bloody awful or great

 

[Spinat]

I have applied with my company for a tide account today, will be waiting for them to approve all of it. I also applied for ePayments account today to see what works.

It's a UK company and I'm non-resident and live in a different country.

 

[WoWNull]

I have applied with my company for a tide account today, will be waiting for them to approve all of it. I also applied for ePayments account today to see what works.

It's a UK company and I'm non-resident and live in a different country.

any update for this?

 

[Spinat]

Yeah sure, they rejected the entire application. Only for UK citizen living in the UK.

 

[WoWNull]

Yeah sure, they rejected the entire application. Only for UK citizen living in the UK.

but their website says its allow for non uk

i do apply but they asking for alot and alot of documents >_<
invoices, proof of address, contracts, statement of my personal bank, bank in name of company, matching each invoice amount in bank and stripe, paypal =_=

 

[Spinat]

Yes and after all this if you pass the compliance, you want to login. BANG it will say, you can only login from within the UK, so you are the smart guy with UK IP and UK Mobile phone! AND BANG it will say again, only for transfers within the UK.

Forget it, if you don't believe me, just go ahead, I will not waste more time on it.

 

[WoWNull]

Yes and after all this if you pass the compliance, you want to login. BANG it will say, you can only login from within the UK, so you are the smart guy with UK IP and UK Mobile phone! AND BANG it will say again, only for transfers within the UK.

Forget it, if you don't believe me, just go ahead, I will not waste more time on it.

Yes i need it for uk only

 

[Walter Rowe]

I have used them for a couple of years for a UK business - they dont have the ability to accept foreign transfers - so its only useful for UK to UK transfers.
No issue with using the App when overseas - once you have had it all approved and used in the UK - but you wont be able to do anything if you try and activate it all for the 1st time when offshore VPN "may" work

 

[Spinat]

Let's face it, it is useless for anyone outside of the UK with foreign business.

 

[Bmw850]

They are reliable , but as already said useless.
And if you made an error with your IP, your account is blocked.
Too sensitive and limited to bring any interest.

 

[WoWNull]

I have used them for a couple of years for a UK business - they dont have the ability to accept foreign transfers - so its only useful for UK to UK transfers.
No issue with using the App when overseas - once you have had it all approved and used in the UK - but you wont be able to do anything if you try and activate it all for the 1st time when offshore VPN "may" work

Let's face it, it is useless for anyone outside of the UK with foreign business.

They are reliable , but as already said useless.
And if you made an error with your IP, your account is blocked.
Too sensitive and limited to bring any interest.

agreed but its the only choice i found bcuz accountant in uk they want approved bank , and this was the other option =/ othersie no accountant accept me, most of them who accept ask for 2k and 3k per year =/

 

[rafeusx]

I necromance this thread to bring awareness to Tide.co, they do progressive KYC so at any moment everything suspends even though you have an account. Their support are knowledgable and empathetic more than most, but policy is policy and they are trigger happy.

Policay says nothing even remotely touch crypto, even if you also accept crypto but most clients pay in GBP that's against policy.

 

[iamgc]

I used them without any issue until I closed my Ltd

 

[jezza101]

Had two accounts with them but then their compliance team closed both for no obvious reasons. Got my money out, but still hassle.

 

[vektorgroup777]

Hello guys.
Registered 2nd LP in UK. Sent my docs to them. Received reject. I have IT service biz. non UK residence. no explanation why.