Customers can’t pay me as Tide is a pre-paid card not a bank


#1

I set up with Tide this month and out of the six payments made to me, two have bounced back / been queried because Tide isn’t a bank. It’s a pre-paid cars.
In theory, I had no problem with this.
In practice, it’s a nightmare that means customers having to call their banks to confirm payments.
Deeply frustrating. Am going to have to look at a real bank even if it is slightly more expensive.
I wished starling or monzo or coconut allowed business accounts for businesses with two directors. I know Starling will soon.
Upsetting that Tide just doesn’t do the most basic thing you want it to do - receive money easily!
Will this change? Or will it always be a pre-paid card and have payments to it questioned?
Ed


#2

Hi Ed,

Really sorry about this! We process thousands of payments daily which go through successfully. I’m really sorry that your transactions have been affected in any way. If you could please get in touch via the in-app, we would be more than happy to look further into this for you and see what we can do to help resolve this.


#3

Newboy12, I’m sure I read that Monzo look to be releasing a business account sometime, I think they’ve been accepted for funding but not sure what amount, or something like that. I see coconut does offer a free start up business account and soon a £5 p/m version that offers a bit more, and they do give a debit card by the looks. I think this is the only let down with Tide - the pre-pay card.