Tide Cards - and my so "anonymous"


#1

Leaving the BBL issue aside (for once) I have three companies with TIde and I am pretty satisfied with the service. That said, haing just received my card for my third company, it looks THE EXACT SAME as the other cards. It has my name (small on the back) and NO company name nor any account number or sort code. Given the cards are Debit Cards, associated with the respective accounts, why make them all the same. Not I have no idea which card goes with which company. Sounds so basic, so there must be a reason for this - but on a practical level it is hugely annoying. Any thoughts as to (i) why this is the case and (ii) surely you could issue PROPER cards to companies. And these are Company cards, NOT personal cards. Thanks


#2

Hello @Jtreacher, thank you for providing this piece of feedback.

Unfortunately, at present it is not possible to have your company name listed on your Tide card as you yourself are the account holder and, therefore, your name is on the card.

If you are unsure of which card is linked to which account, you can log into your Tide account and contact our Member Support team and ask them to confirm the last 4 digits of the card linked to that account.

Regards,
Andy


#3

Andy, thanks for the reply, but I am now very confused.

Surely I am NOT personally the account holder? The account is a Business Account and any funds in the account are owned by the Limited Company (and ultimately its shareholders) and not me personally. When the accunt was opened I provided details of the Limited Company - so why would I do that if the account is a personal and not a company account. My accounts are NOT sole trader accounts, but limited company accounts.

Anyway, just keen to really clarify this as from a comapny legal point of view this is very important. Shareholders in the company would want to be confident funds belong to the company, and not me personally. And surely any personal creditors of mine, for example, would not be able to seize funds in a comapny account. Anyway, can you set out the positon on this.

Many thanks

Jonathan


#4

As much as I can work out it’s simple a pre paid account which isn’t even issued by Tide. The more I research the less I’m bothered with having any funds paid into the account. Some of the add on features for invoices is handy. I think ultimately we all have personal account under the guise of a business account. Having banked with HSBC business for 20 years I wish I’d never left. But unfortunately you can’t turn the clock back. And unfortunately we have all been taken for fools where the BBL is concerned. Every chaps inbound delay is the sender problem. Tide Bank are a middle main in the transaction of money. They don’t issue cards, they don’t have the financial reg to ring fence our money. All of this is done by a third party. Really disappointed that I didn’t look into this is greater detail in the first place. The reason the service is cheaper is there is no risk to tide. Purely a cost per transaction business.


#5

I’m sorry to hear that you’ve had such a poor experience with us @Newbielee

I know you’ve expressed your thoughts elsewhere as well, but we’re happy to address any questions that you have.

Regards,
Obi


#6

Just my take on it Obi. I have no personal grudge against you or any of the other moderators on here. My feeling is we were all dragged along with false hope, the correct way would have been upfront and honest from the very beginning. I wasn’t even aware until I was told by a customer that the sort code comes up as pre paid technology. For me this doesn’t signal stability and I’ve had customers refuse to pay in to the account. Just my take on it. I feel we’ve been taken for a ride and unfortunately the it leaves a very bad taste in my mouth. Personally I don’t think with on a very small amount you had to offer you should have been given the accreditation in the first place. I think it’s been managed very badly from start to finish. Very poor communication. Having managed my own business for 25 years I’ve always been upfront and honest with both customers and suppliers. If you aren’t it bites you in the backside which in my view has happened with Tide. In fairness everything is just going around in circles now. The government aren’t going to lend money direct to fintechs money. The responsibile thing to do would be honest with everyone.


#7

@ Jtreacher, you are are very right pointing this big issue out regarding individual names on the rather than the company’s names. Individail names shouldn’t be on the card for security reasons. The card should bear the company’s name for transpirancy sake.
Tide, pls take note of this error or you explain why this is so.


#8

Thank you for your comment, @Megmay

I’ve posted this elsewhere but I’ll also address this here as well - the names on the cards are simply a matter of design. The cards’ design will be updated in the future to primarily list the company name.

Thank you as well, @Newbielee, the reason why the sort code appears in that way is due to PrePay Technologies being one of our account providers. That said, I don’t want to brush aside your criticisms, as optimistic as we may have been in regard to the outcome, it’s clearly not been received well.

For now, we’ve done everything that we can from our side to try and find a way forward and we’re making an effort to be very clear with where we stand and what our members can expect.

Regards,
Obi