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Some thoughts for you here. Tides waitlist will be only around 2% of the SME community.

  1. HM Treasury is interested in the full macro effects of the BBL. It will not care 1 jot about 2% of that total amount.

You only need look at the new starter furlough campaign or all those who have fallen through the cracks at various stages. HM Treasury is highly unlikely to support Tide with this venture.

  1. Tide mentions the “future fund” and so do the BBB, however, such a fund is a mix of both public and private capital. It also has the options for equity stakes in those businesses.

Tide is conflating and confusing this, thinking they may be able to get support.

  1. Tide will have known this issue since before accreditation, they will have known their likely lending volumes and demand. Yet they still kept their waitlist open and their accounts opening. This should show us where their priorities lie, it is not “with you” but “with them”.

  2. The very best advice that I can give is get yourself to another bank as swiftly as possible, if Tide eventually come through, great, if not, try every avenue.

So far we know that Tide’s service is shocking. We know that they do not answer our in app messages, they do not have phone lines available. We know that Dr Prill does not communicate directly with his members. We know that their social media teams give out incorrect information.

The only thing holding Tide together at the moment is the fact that we cannot leave. We will eventually all leave, as we know how bad they are.

For now, search elsewhere if you can. There are a few banks offering support. Tide would have been better trying to partner with these, or advising people to leave if possible and go there, providing guidance and support to do so. That would be “standing with us”.

I am sorry for the job that you have to do @Obi_at_Tide. If you want to leave. There is a job here for you. I think you are very good at a thankless task.

It is not the fault of the private or the corporal if the generals are donkey’s.

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    Jul '20
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    Jul '20
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All good points. That said and especially the point about people on furlough falling through cracks. Government announces £350bn funding available, but mostly just guarantees. And they knew £350bn unlikely to be actually lent out - as liquidity constraints in the market. So great PR, but leaves a lot of people pissed off - not to mention businesses bust. Agree Tide should “partner” with a bank with funds (if only to access loans for Tide customers), But query, why no one wants to lend to Tide. 2% guaranteed interest looks ok at present, surely, in a negative interest rate environment?

Government won’t have a choice but to keep lending, there is 0 benefit to see any business go under, never mind 2%

They are talking about giving every person in the UK £500 to spend in retail and hospitality

They are talking about giving £5000 to every home owner to insulate their homes.

Big business needs small business to survive otherwise everyone is a looser !

I really don’t understand where all the conspiracy about tide intentionally screwing this up to gain more customers or promising the world comes from it makes no sense at all.

without the SME community tide doesn’t have a business, all the so called customers they intentionally gained (even tho it’s just a list) will go under without a bbl… tides intentions are & were genuine they just couldn’t secure private funding.

@Jtreacher I would challenge any one here to try and secure private funding on £50k @ 2.5% … never mind hundreds of millions.

If you have hundreds of millions of pounds you got hundreds of millions of pounds because you know how to make money, you don’t put hundreds of millions of £ into savings account… for a start medium risk investment account makes 15/20% a year but with hundreds of millions you are probably funding gold mining companies, drilling for oil, start up tech companies and smoking fat cigars in the carribean… 2.5% is diabolical there is no surprise imo.

Perhaps some are right and tide knew this angle of going to the treasury was always a distinct possibility, either way this is where we are and tide have and had 0 To gain by being anything other than genuine & there is imo a very distinct possibility they get the funding required.

47 building societies in the U.K. haven’t even bothered!

Let’s also remember, we have 4 months left before the scheme ends.

All points noted. That said, I know businesses paying 1.5% TO a bank to hold their money (albeit CH francs) so I do not think making 2.5% guaranteed is a bad deal that no one would go for.

Snippet taken from the times article on tide stopping funding …

In relation to:

“ Objections included banks not wanting to provide capital to a competitor and institutions that said the returns were not viable given the low interest rate, Tide indicated.”

Through all of this I have to admit that I find it sad that people’s instant reaction is to just go out and smear tide for having tried.

Rather than pooling resources, trying to get behind them and support the possibility of the treasury giving access the instant reaction from some many on social media is to:

“Hold them to account”

“write bad reviews”

“They’ll never get away with this”

Just like the original constant bitching it may have even been the straw that broke the camels back & put a lender off…


People are just making their grave even deeper.

Gov’t has a tricky situation on its hands now. Having pledged to do “whatever it takes” 2 months later there are 80,000 odd people stuck in total limbo.

People are not angry at Tide for trying. After all ppl waited 2 months on a phantom list that never provided for their business. People are angry because Tide wasn’t straightforward with them.
How could they have loaned out £50mill when someone that is #399 wasn’t offered a loan. Even though i know someone that got a BBL from Tide, i also know someone that is around #760 and wasn’t offered a BBL.
So where did the £50mill go?

Pelican - they said they beta test all schemes with some of their first customers so I assume they did that and the list wasn’t used.

I know of 1 who had a bbl so clearly they did fund some.

Tides interests are alined with 84,000 customers… if they don’t get funding they won’t have a business.

@Cam it is the failure of their communication that has been the let down and the massive PR disaster their actions during the BBL fiasco.

  1. Dr Prill does not communicate to emails, letters or calls.

  2. They said a tracker would be launched “soon”. It never was.

  3. They said they were securing many hundreds of millions in funding “soon”. It never arrived.

  4. The continued with an open waitlist, account opening and large tv campaigns.

As customers we do not have faith or trust in Tide anymore. That and the scandal on pre paid cards in Germany. Is pushing many away and we will not return.

The platform is mediocre at best. The service terrible.

Hi mate I’m not denying their has been failings & I’m not denying that people have the right and rightly so feel frustrated.

In relation to your points:

  1. The ceo of any other bank would on a very rare occasion reply to emails from customers, this is not an uncommon feat.

  2. & 3 They failed on the tracker, And the arrival of funds being soon, agreed but we are where we are and we have to work with what we have… you have suggested before that people try other banks, the sad reality is that tide is some peoples only option at securing the loan.

We’ve got absolutely little to gain by looking over the past at all of tides failings and where they went wrong and what they did wrong, I actually personally don’t care less, all I care about and my only objective is securing a loan so I’m not made homeless, I do not care about a waiting list I care about helping g, if I can get the funds into tides hands & then into mine.

I get it, it’s utterly shite but above all the blame lands with the gov, scheme was rushed and crap & to top it all off the governments idea of helicopter money as announced today is giving a reimbursed up to £10, 50% off voucher to people eating at restaurants. They are utterly delusional. And they won’t have much longer before e whole economy is irreparable.

Force business to close and expect them to be happy with no help.

boris & Rishi get real.

Thank you for continuing the discussion here, everybody.

It’s been our intention from the beginning to support as many businesses as we possibly could, which is why we kept our waiting lists open and did not turn away new applicants. Though we’ve tried to be clear that we cannot promise results, we can’t deny our responsibility to our members.

We absolutely made errors in our communication, in regard to the waiting list tracker. In regard to funding, though we were optimistic at the time, unfortunately the final decision we received from potential investors yesterday came after lengthy negotiations.

We’ll still be working around the clock to both restore our response times to day-to-day queries to the regular, and to push for the Government to take a more direct approach to funding.


Im also with cash plus and they didnt even try., so fair play to tide for trying. We’ll just have to hope something is sorted before the cut off date in November.

Hi @Cam,

Thanks for your reply. In regards to the CEO, you would be very surprised. For one of our businesses that secured a BBL with HSBC, the CEO and Head of Business Banking responded to emails. In addition with Natwest, even though we have not been able to open an account with them, the head of the UK bank did respond to emails.

The ignoring of this and of customer concerns by Dr Prill is very much I feel symptomatic of the fish rotting from the head down. Even Jeff Bezos has occassion and reason to answer or forward customer e-mails.

For example, we would not as a company dream of ignoring our customers. Dr Prill has found time to do breakfast webinars in German (fortunately a language our leadership team is fluent in), but not to answer one call or email.

Who knows, we may have been able to help.

@Obi_at_Tide we are still waiting for a call. 6 days now. Also it really does take the proverbial p**s to be sent an email to win a £50 amazon voucher. And a survey with loaded questions.

In regards to the survey. No we don’t want some useless database of all our companies for other Tide members to have access to. No we do not want to give extra discounts to Tide members (will Tide make up the difference in lost revenue?).

What we would like is a bank that is able to support us financially when things get tough. Clearly Tide are unable to do that.

The very least you could do is stop charging us for services that you cannot deliver.

Tommorow is a week of waiting for a call.

closed Jul 9, '20