IBAN Support


#3

following the SEPAIO project it is now possible to send SEPA payments using the IBAN only, there is no longer a need for a BIC/SWIFT code (for international payments from outside the SEPA Zone by SWIFT the code is still needed)


#4

I’m just gonna add my vote for IBAN also - it’s a key feature for me as we do international work so would love to see this integrated.


#5

Me too. Given the fact that PPS is one of the Europe’s largest e-money provider, it should not be that hard to offer IBAN support for international payment or at least European payments.

But it may not be that easy too because Bank of England imposes different rules for international payments due to different scope of anti-money laundering regulations.

So for now, TransferWise is likely do it more efficiently and economically (usually the case) than anybody else.


#6

Looking forward to support being implemented.


#7

Hi there, has there been any progress on Tide providing IBAN support? Thanks


#8

Hi @Ramesh2410, our Founder & CEO recently wrote about IBAN in a post, it’s worth a read.


#9

Thanks Victoria, that’s useful to know.


#10

I am setting up to work with an international company, based in the Netherlands. They ask for my business’s IBAN in order to set up direct debit. While I know it is not necessary, I cannot explain this to them. The issue is all other non-status account provider, i.e. Onecardbanking and Cashplus, apart from Tide, seem to be providing an IBAN for direct debit. Do you have solution for this please?


#11

Hi @Interconnect! International payments are not yet available, but are our top feature priority. We’re building a proprietary forex capability which will give you a unique IBAN and the ability to hold pots of money in lots of different currencies. I am afraid, we won’t be supporting SEPA Direct Debits in the beginning but we’ll be looking to offer that in the future.

You can read more about our international payments feature here.

Let us know if you have any other questions, I’d be happy to help!
Valentine


IBAN / BIC inquiry
#12

Really need IBAN support/ international transfers. Any update on progress?


#13

Hi Timothy,

We are working hard to introduce this feature soon. Stay tuned to the Tide Community, as we will announce the launch of international payments here. You can also read more about this feature here.

Valentine


#14

still no update on this topic?


#15

There was an end-of-year update sent by Mr. George @george.bevis, a few hours earlier and it confirmed that Multicurrency’ism is indeed in their 2018 agenda :slight_smile:


#16

Several month before info was its coming in month time, now its goal for 2018 - bit of a stretched definition. Can be a reason I can switch to something like Revolut unfortunately :confused:


#17

If you are dealing with more than £200k-£500k in revenue then ultimately you want something that’s purely credit in nature. Sure, if you want to pay £25 to £100 per month just for banking needs, you can move ahead. But in my estimation, if you are making that much then you don’t need a virtual account or accounts et all, to begin with. Otherwise, in all other cases Tide and other neobanks make a lot of economical sense.


#18

I am dealing with international clients, and using transferwise is a bit of pain, plus it has fees, so with several transactions per month, 25 for revolut sounds not a big thing


#19

I agree. It does look plausible to have Tide and others as secondary account or until Tide comes up with international payment system in-place!
If you do give it a try, let us know how you find Revolut.


#20

Really need to add my voice to this! IBAN…critical…you are talking tech enabled people here…Amazon, for instance, pays using IBAN…!

Sooner the better please peeps :slight_smile:


#21

Hi Dan,

You’ll be glad to hear that we’ve begun testing IBAN/international payments. If you’d like to register your interest for Tide Preview, our beta testing programme, and test features before their general release, you can do so here. Let us know if you have any other questions!


#22

Thank you! I have done so :slight_smile: