Clients confused/concerned by 'Tide', 'Prepay Solutions', 'Prepay Technologies Ltd' on invoices

general
payments

#1

Hi there,

I’m just starting up using Tide, and have some feedback on my first two experiences.

Firstly, I tried to send my shiny new Tide account some money from my old brick and mortar bank, only to have the transaction blocked by them (Halifax) as apparently Prepay Technologies Ltd is associated with fraudulent payments? Not your fault but thought you’d like to know transactions are being blocked. Had to go into the branch to prove my identity to get the payment sent.

Second, after sending out invoices for the month, two out of three clients have come back asking if I’ve put the right information on them because ‘Prepay Technologies Ltd’ looks a bit odd for a bank name (could I just use Tide as the bank name instead? ). I’ve had to go back and confirm it’s correct.

Anyway, just my first experiences. Hopefully I can continue using Tide in the future as the app-side UX has been great, but my client’s perspectives have got me a little nervous and thinking of going with a more mainstream bank for my business.

Cheers,
Tom


#2

Hi @TomB,

Thanks for taking the time to share your feedback with us on the community, it’s really helpful :slight_smile:

Thank you for letting us know about the Halifax transaction - could you please get in touch with the team via the in-app chat to give us more details? We’d like to look into this further. Unfortunately, some high street banks will decide to pause or block some payments - this is ultimately out of concern for you and your money but frustrating when it is a genuine payment. These scenarios are pretty rare though so hopefully it won’t happen again.

Regarding the invoices and names, we are an agent of PrePay Technologies Ltd, who trade as PrePay Solutions. Our banking services are provided by PrePay Solutions (they are regulated by the FCA via an e-money license). However, PrePay Solutions’ name shouldn’t appear on invoices sent from Tide.
Could you please let me know where your client saw the mention “Prepay Technologies Ltd”? I appreciate the confusion this might cause to them so I’d like to discuss this further with the team.

Thanks,
Valentine


#3

This is a major concern which dampens your client’s trust in your business. If I were you, I would make a note in all invoice templates and your website, outlining who Tide and PrePay Technologies Limited are, along with their FCA Authorisation number and the FCA’s Verification link on their website so your clients can verify Tides authenticity quickly and easily.


#4

HI
I too can confirm when people add my business Tide account it appears as “Prepay Technologies Ltd” and i have had customer say it looks very suspect and does not look good. It really needs to say TIDE. I can confirm i have also seen display this at Nationwide Building Society when I added my business account to my personal.

Also as some other feedback you have SPF issues with the Email setup at this community.tide.co domain when i created a new account. https://prnt.sc/pfvrnn very simple to resolve. just pass to your tech team this link. they should understand it.

Paul C


#5

I can confirm that Prepay Technology Ltd also shows up when customers add my account. Unfortunately, the first thing Google shows for Prepay Technology Ltd is a 1 star rating with dozens of people saying not to accept payments from these accounts as they’re a scam. If I were Tide I’d be looking at partnering with another payment provider because of this. At the very least please make it show information regarding Prepay Technology Ltd is hidden from statements.