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?
Surely this is a standard feature for a business account? Cant believe theres no mention of this anywhere else! Tide, can you please respond?
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
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.
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 email@example.com to open a client deposit/fund holding account and they’ll give you some options hopefully.
Hopefully, this helps you
May I ask if the client account issue was ever resolved?
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.