Different Sort Code on payments


#1

Another bank has queried a payment from my Tide account and are investigating the transaction for money laundering because the sort code (23-69-72) and account number on my statements are a different sort code (sort code 20-03-53) and account to what they received the money from.

Please can I get an explanation from Tide so I can reassure the third party bank that this is a valid transaction.


#2

Hi Simon,

Thanks for the message and apologies for not getting back to you sooner.

The reason why there is two separate sort codes is because firstly the 23-69-72 is our generic sort code here at tide, when you then transfer funds, sometimes it can be ringfenced and as that happens, it then changes the sort code to 20-03-53.

The long term mission is to give out unique sort code numbers to each individual like other highstreet banks.

I do hope this helps and if you have any other questions, please email us on hello@tide.co and someone from Member Support will be in touch.