Clarification on 20p Charges - ltd Com selling low priced items online frequently


#1

Hi,

Tide looks fantastic but I have a few questions. My company runs a subscription-based E-commerce store selling up to 100 items a day through recurring billing. We are using WooCommerce with a subscription plugin, and take payments through PayPal and Stripe.

Is it possible to run all of our business banking through a tide account? Will this Tide account be legitimately linked to our Limited Company?

Lastly, the product we sell is a small item with a low retail value. We rely on many sales of this product to make profit with small margins. Will we be charged 20p every time we sell online?

Thanks and all the Best,


#2

Hi Benni,

Thank you for your interest in Tide!

Tide is a business current account packed with powerful tools such as our auto-categorisation and invoicing tools. You can learn more about our current features on our product’s page here. Your Tide account would be linked to your company; any payments you make and any Direct Debits you set up with your Tide account would be in your company name.

Having a Tide account is, and always will be, free of charge. Outbound card payments on your Tide MasterCard are also free. We charge a 20p fee for bank transfers received or made via Faster Payments, as well as outbound Direct Debits. Additional charges are a £1 ATM withdrawal fee, and £5 to replace your Tide Mastercard if lost.

You can link your Paypal and Stripe accounts to your Tide account using your Tide sort code and account number. Payments from PayPal or Stripe will only be charged if they come through as Faster Payments.

Hope this helps! Please let me know if you have any further questions, I’d be happy to help.

Valentine