Account opening takes way longer then promised


#1

Well Tide promises account opening in 5 minutes, but now they are telling me it may take up to 48h. That sounds like a really bad joke. Response time in chat is way too long. And I don’t understand why they charge for normal bank transfers, where they are usually for free


#2

Hi @Joe1998, sorry to hear this! The majority of our applicants are able to create an account within the 5 minutes, but in some cases, we are required to run additional checks in order to verify your details. Our on-boarding team is working hard to process these as quickly as they can, and are happy to answer any questions you may have. If you continue to have trouble with this, please don’t hesitate to contact us at hello@tide.co.

In regards to our fees, we aim to make Tide as affordable as possible for small business owners, and have found that our members appreciate the fact that we do not charge monthly fees, enabling them to keep their costs low.


#3

Hi Sam , thanks for your reply. It seems you have some serious issues with your KYC provider. Not sure which firm you are using but I would certainly look for alternatives. By the way the 5 minute on boarding process has now become already a 24h process ongoing. Maybe you will beat the banks at being the slowest in the bank account opening process. Unfortunately Tide falls in the same category as a lot of digital firms: over promising and underdelivering.


#4

Hi @Joe1998! We are working hard to streamline our processes and reduce waiting times as we continue to grow, but if you could please reach out to your Founder Member Manager via the in-app chat, they will be able to privately advise further on your application.


#5

made an application over a week ago now they registered my business last week , but have took over a week and still not verified my identity. I sent the details of my buisness like was asked and still nothing I have had orders pending wich I have now had to cancel because I had no where to pay the money into . I don’t think this is fair for small buissness that has just set up the app says 5 mins but may go up to 48 hours but been over a week and I have lost earnings due to this. My buissness is called discount pc build and repair


#6

Hi there @Discountpc

I’ve brought this to the attention of the Onboarding team, as advised.

We’ll do what we can to get it sorted out as quickly as possible.

Regards,
Obi


closed #7