Client Account

setupandaccess

#1

Is there a way to open a client account for the receipt of client money? For a letting agent receiving rent for example in which they will take the management fee and then transfer the rent to the landlord?


#2

Surely this is a standard feature for a business account? Cant believe theres no mention of this anywhere else! Tide, can you please respond?


#3

Hello @MVPPropertiesLtd,

You are able to open 4 current accounts within the app, I know you can give read permissions etc and a card for the team member to use. Unsure if this would be satisfactory for your needs but it’s best waiting for a team member to respond @Valentine_at_Tide.

They’ll be able to answer you in a more satisfactory manner since I am new to the platform, just helping from what I know off :slight_smile:

Best Regards,
Shay Punter.


#4

Hi thanks, however these are still current accounts and assets of the business. My whole question is regarding “client money” in order to adhere to client money protection regulations. I find it amazing that there is currently no Tide customers that need ti have a segregated client account. This is standard business.


#5

Hello @MVPPropertiesLtd,

I understand where you are coming from now after just doing a quick lookup on client accounts, Tide is still relatively new and still is developing and maturing.
You could put a request into their support staff through the mobile application or by sending them an email to hello@tide.co to open a client deposit/fund holding account and they’ll give you some options hopefully.

Hopefully, this helps you :slight_smile:

Best Regards,
Shay Punter.


#6

Hi
May I ask if the client account issue was ever resolved?
Thanks
Colin


#7

No. They don’t even appear to understand what a client account is and kept saying “you can add upto 4 accounts by logging in and… etc” but clearly not grasping the concept of a segregated client account. Which is worrying. Im just in the process of opening a new account and I will be moving away from Tide.