Refused a bank account



I was refused a bank account today by someone at Tide. I’m trying to setup a business bank account as a sole trader and would like to keep the the startup capital separate from my personal bank account for tax and accounting purposes. They refused on the basis i did not have a website (which only takes a few hours since I am going to be using shopify) . They also said I had not informed HMRC. I phoned HMRC and they said you do not need to inform them until you officially start trading.

Not really happy with the service from Tide - very poor understanding of HMRC and website setup process. I’m little concerned, what happens if I didn’t need a website would you have still refused?


Sorry to hear you’re unhappy with your experience @ofarooq,

I am afraid you need to be registered with HMRC to be eligible for a Sole Trader account. You can read more about this in our FAQ: Can I open an account?

As our on-boarding team mentioned, we’d of course love to see you re-apply once you are registered with HMRC :slightly_smiling_face:

Let me know if you’ve any other questions, I’d be happy to help.



This is appalling and did not used to be the case so WHY?

Had great hopes for Tide but it is just not going in the right direction.
Very disappointing


We’re sorry you feel this way @Krakastan.

If you have any further feedback or questions, we’d love to hear them.



Hi there,

Can you tell me please can I open a register Company Account with Tide that deals in Property Development, however the company itself uses an element of the Blockchain in its setup of its platform but the bank account itself would not actually be used for buying or selling cryptocurrencies as per your terms? Bank account would be solely used for the construction of the projects and general day to day business costs?