Account Block

payments

#1

So i tried to pay out our salaries over the weekend and found that the account was blocked for some reason from a message in the app.

As such i got in contact but had to wait till the week to get a response which i only received on tuesday.

I havent been told why there is a freeze on my account but ive been requested a large amount of information which i have provided and probably more than is required as i need to get my account open again so i can pay the salaries and pay suppliers.

However i still have not had a response as to what the status of this is. I got a generic statement saying an update will be in a working day yesterday but for this sort of serious matter i would believe it should be a bit more of a regular than that especially when the information requested has been provided in such a timely manner.

I joined Tide as i did not want to deal with a poor service from a high street bank. But here i am in the dark as to why my account is blocked and how long it will take to resolve. Seeing as i need to pay suppliers and pay salaries etc this puts my business in danger but also myself as i will not be able to pay my own bills or rent.

Ive been told that i should continue to correspond over email and i have but still no responses so where do i get a response on the status of my account. If it is not resolved within the next day or 2 then i will be in serious cash flow problems but it seems that the risk team are not in any hurry to resolve this situation.

This is a real cloud over my experience with Tide as it has been so good up until now but this is a massive cloud over my experience and looking at some of the posts on the forum about similar situations i am extremely worried and distressed about the time this will take to be resolved.


#2

Hi @Rohitpm88,

Glad to see our team has been in touch with you and this has now been resolved :slight_smile:

We’re committed to providing a great and secure service for everyone who has an account with us, and we’ll only ever pause a member’s account if we suspect the security of their account is at risk, if there’s a been a breach of our terms and conditions, or if we have to comply with legal or regulatory obligations.
You can read more about Tide security here.

If you’ve any questions, or if you’d like to discuss this further, just let me know and I’ll get in touch.


#3

This really does seem to be a common problem for Tide. You hide behind the bland statement made above…but it does not change the fact that it keeps happening.

Your fast opening process seems to be at the expense of reliability.

Is there any way we can provide you additional information BEFORE the account gets blocked?
to prevent it happening?

Other fintech banks dont seem to have this problem - so why just tide?

Otherwise how can we have confidence in the service, especially since you will not even acknowledge tht it is a problem


#4

Hi @Krakastan,

We’re unable to discuss sensitive details about our members accounts being paused, however my colleague @Valentine_at_Tide has responded to your concerns on another thread here :slight_smile:


#5

One thing I would add to this. I had a call with Ruby today explaining the issues and what errors had happened in the process. Also I thank Ruby for her efforts and professional manner in this

I’m happy it got resolved but I will reiterate my feedback here. I have worked closely with financial advisors especially in customer service and they and business owners need excellent communication when things go wrong.

I’ve seen the blog post about things and I would recommend that you adjust your process in regards to communicating to clients. When things like this go wrong they can cause serious issues for a business owner not only for them but their employees and as well their suppliers and their ability to continue to operate.

My key recommendation is clearly describing what is going on, why it’s happening and when once you have all the information when it will be resolved. Also when all the information you need is received keep your client informed much more often than once a working day. This will not only keep them happy but also you will receive less emails and messages about the same thing in different areas.

Your product is great but back it up with excellent customer care and you will make a March on the high Street banks I assure you.

Lastly for Tide employees posting on here I would recommend a bit more training in regards to how you reply to people on here and possibly be more active as if this community area is more active then you’ll be able to build this product more and more.


#6

Thanks for that feedback @Rohitpm88

For privacy reasons and to protect our members security, it’s often not possible to give too much information on public forums like this when the discussion is focused on a particular account. But I can assure you our Compliance team are working on being more transparent with affected members on private channels where possible, and your feedback has been taken onboard.

Glad Ruby was able to get this resolved for you, apologies for any delayed communications from our team.
If there’s anything you’d like to discuss further do just let me know and I’ll get in touch :slight_smile: