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Hi,
On two occasions now different customers have been trying to pay an invoice into my account, I have given them the account name as my business name, sort and account number.

When they try to pay in to the account, the bank (Barclays on both occasions) tries to verify the account name and comes back with ‘Prepay Technologies’.

Why is this happening?
It looks very unprofessional to my customers, and embarassing on my part, as I provide quite high value services, and could look like a scam.

Could anyone tell me why this is happening, and why my business name is not showing up as the account name?
If this can’t be resolved I’ll have to bank elsewhere.

  • created

    Aug '20
  • last reply

    Nov '20
  • 5

    replies

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  • 4

    users

Hello @SeanF,

Thank you for reaching out to us.

Tide accounts are held under an FCA-regulated e-money license by PrePay Solutions (PPS), which is why people see this name when they transfer funds into a Tide account. We are aware that this is not convenient for our members and are currently working on a solution towards it, which will soon be live.

Please feel free to reach out through the in-app chat for more information.

Regards,
Borislav

Thanks for your reply,

When you say ‘soon’ how long is this? Days, weeks, months, years?
This is very important to me and no doubt many other business owners.

2 months later

I’m having the same problem. It’s embarrassing!!
I’ve asked for urgent help on the online help and no response.
Not impressed!

1 month later

It looks like this has not been resolved, I received a call today from a customer who is very wary of sending funds to this PrePay Solutions. She has asked for an alternative account to make payment to.

It is not Ideal, please fix this.

Andy

Could Tide publish a link we can send to customers explaining the situation until a workaround is available?

It would add a little reassurance to wary customers at this time.