Welcome to the community

IMPORTANT: Tide Community is closing - we’re building something better!

Thank you for sharing your feedback, questions and ideas. We very much appreciate your contributions - and now it’s time for something new. To better support you, and to showcase your businesses, we’re developing a member directory.

5th February 2021: This forum is now ‘static’ so it's not possible to add a new topic or comment.
Summer 2021: The forum will close. Read more

Good to know that Tide is working well for you! I’m personally looking forward to IBAN support.

It’s interesting that you’ve opted to create additional separate accounts for VAT and Corporation Tax.

  1. At first glance, it seems like this would cause additional unnecessary accounting paperwork due to having to move funds amongst the various accounts, but I might be mistaken. Am I?

  2. Also, I’m assuming that such a multi-account setup offers at least some specific benefits. Any insight as to what those would be? I might consider the same setup if the benefits outweigh the disadvantages (if any).

I have an accountant and use Xero which deals with any of the transfer transactions. They are just transfer transactions after all and in the accounts they are ignored. The difference is only virtual anyhow.

The benefit for me is that I take a tiny salary and then lots of dividends throughout the year. I make sure I always transfer 20% of any dividend to my corporate tax account (tax on profits) and as each invoice comes in I transfer the VAT component to the VAT account.

It’s rudimentary, but it ensures I stay on top of cash flow and always know how much money I have as Her Royal Majesty’s money sits in separate accounts.

Anyone with more accounting knowledge should feel free to butt in here and point out any shortcomings with my approach.

International payments aren’t a big part of my incoming transactions but when required I ask my client to send me their payment via Transferwise. It was easy to link my Tide account to Transferwise, a little bit like linking it to Paypal. My clients have never had a problem sending their funds to me that way, many of them actually said they liked having the option of paying in their own currency and I have found that to be a really effective way around the nonexistent IBAN problem. Saying that it would be nice in future if we could accept and send international payments directly from our Tide account.

11 days later

Agreed it’s great to see such transparency on feature delivery. I also was surprised to find no standing order support. I’m happy to do a few months of manual payments but will be relieved when SO is available!

Hi George

Thanks for weighing in on this. I agree with your surprise if few members have requested standing orders, I’d have thought many small businesses will want to run payroll that way, pay their accountants, etc.

On the IBAN launch, I’d be happy with an intermediate solution, even one that accepted GBP only, or had higher than ideal forex fees. That way we can at least request that overseas clients pay in GBP until your final world-beating capability is ready to launch.

In general, I also feel that you should publishing timelines - perhaps along with degrees of uncertainty. That would be much better than having many of us requesting many updates from many of your support staff, with many resulting discussions over how we really would like to know when x will arrive. If you want loyal customers it’s better for us to know if we should hang on or find our own workarounds.

Kind regards


Hi @EmmaKidd, glad you’ve found this discussion useful! It looks like @MRMM has answered your question. But to add to this point, you would have to set up an account for one account holder now. You will then be able to add your partner(s), other director(s), accountant, etc., to the account and order multiple cards when these features have been released.

1 month later

so just to clarify here sending money to a foreign bank account from a TIDE account is fine?
I will be taking orders in the uk but would need to transfer abroad.

My understanding is that, with a Tide account, it’s not currently possible to make or receive international payments. Check George’s reply up top and he confirms that.

I love Tide and what it stands for, but realistically, international payments is a major feature to be completely without, and I think we’d all be much happier with a temporary solution. My biggest client have just informed me that they are unable to pay me due to this issue, so I’m going to be left without the necessary funds. The location of their bank isn’t something we’ve ever discussed (what with them being based in Lancashire), so it was not an anticipated problem. I’ve seen posts as far back as January discussing the lack of this feature, and we’re nearly a year into that now. I appreciate your quest for something better, but it’s turning a lot of us away when a temporary solution could have alleviated a lot of this distress, on top of a lot of customer support time that could have been put to better use.

Thank you for sharing your feedback @arraneleanor. To echo George, we are working hard to introduce this soon! We really do appreciate your patience as well as other Members similarly awaiting this feature.

Agree with all who point out that IBAN is a must-have, not something to add later. SMEs need to be able to take international payments and Tide is disingenuous in not highlighting this ridiculous omission before opening an account. IBANs are often asked for even if not technically necessary - and so not having one excludes many many payments. Work-arounds? Why? I can use a conventional account instead. Tide is supposed to a providing a way of banking, not forcing people to go elsewhere for fundamentally basic services. I only opened a Tide account this morning, and within an hour found that it was useless for accepting Amazon Pay UK, who use UK sort code and account number but require an IBAN number for ‘verification’. Tide can’t provide one, so the account is useless before it’s been used. That’s a couple of hours of my time I won’t get back - and I wouldn’t have bothered if Tide had warned up-front that it can’t to IBANs.

Hi @ems, thanks for taking the time to post on the community. All the information about Tide can be found on the product page of our website 40. We understand that IBAN is a priority for some of our members. We are working hard to introduce this feature soon! Let us know if you have any other questions about Tide, we’d be happy to help!

How can you not accept paper direct debits? I had no idea so many features would be lacking when I signed up to Tide.

Unfortunately after moving to Tide I am going to have to move to a traditional bank. I can’t even pay my rent without direct debits!

Hi Mark,

Even though we can’t accept paper Direct Debits, you are able to set up Direct Debits electronically.
You can find more information about how to do so here.

Please don’t hesitate to reach out if you have any other questions about Tide, I’d be happy to help!

9 days later

Thanks for the extensive reply, I really appreciate hearing the challenges and why it’s not as simple as it might appear to add a feature like this.

Things I’d like to see to run a business using tide:

  • Multiple accounts - love this, thanks!
  • Touch ID support - love this, thanks!
  • IBAN support for payments in, this is more important than international payments out to me
  • Standing orders for paying salaries - I too didn’t bother to check and was surprised by this
  • Your own cards and payment processor - see what Monzo are doing. At some point you’re going to have to bite the bullet and do this.
14 days later

To be honest this should not of been launched till all paying in features where in place. I can pay money to my private account via a post office. Reason is. The bank is 16 miles away. The post office is 1 mile away.
For saying there was talks about this feature on sept 21st nothing as been done because I tried to load money into my account three times and the cashier said it won’t load. So now I have three hundred quid and it’s lying around the house. You need to sort this out and quickly. I’ve only been with you 2 weeks and already thinking of emptying my account and closing it. This is a business account but my name’s at the top of the statement.not my trading name so it can’t be used against any trade credit accounts. Etc etc. This is just like a personal account for kids

Also a bank transfer from any account to tide takes 12 to 48hrs to show up. WHY. I spend £3.99 at McDonald’s. Contactless method it shows instantly. This needs lots of work.

Dear George,
I appreciate your reaction to the subject of multi currency and/or international payments and also understand the complication of it.
However in todays world it is disappointing to see that even for small businesses you do not support international transactions (payments and receipts).
You state that you are addressing the issue but I would have been more happy with a basic functionality of this in a shorter time (even only for GBP) than a full blown state of the art solutions. The latter is great when it gets there but does not help the many small businesses that in todays world have international clients and suppliers that need to be paid.

I have had to open another account with a high street bank to be able to receive GBP amounts from abroad from my client. The internet platforms you suggested are all happy to make payments but non of them to receive payments.

Tide has been very good for purely UK payments but has disappointed me for international business which is not only for the big companies in these days

I would appreciate to hear from you a more concrete date for when this functionality becomes available. Otherwise I do not have another solution than transferring my bank business to one f the high street banks