Tide using a 'holding' account to send from!


I transferred money FROM Tide into a Virgin Money account.

This Virgin Money account has now been closed, and they’ve returned the money to sender (my Tide account)
HOWEVER - the sort code / account number Virgin Money received the funds from is not my Tide account details - it appears to be a ‘shared’ account:


What’s going on?? This isn’t made clear - also, the money returned isn’t showing in our Tide account!


Hi @cohoda

Our members’ funds are in a ring-fenced safeguarding account that is fully protected against risk and reinvestment. As a result, funds do not require FSCS protection.
this means that when making a payment these details are pulled. if you think a return is coming to you via these details. Please reach out in app so we can assist.


Nowhere, i mean absolutely nowhere is this made clear during transfer.
In fact, the opposite is true.
See below screenshot: it actively appears to be coming FROM my account.

It’s very misleading, and caused a considerable amount of inconvenience.

I have an official complaint open, and will be taking this to the Financial Services Ombudsman, as it’s plain misleading.


Hi @cohoda,
I’m sorry for any confusion or inconvenience caused. Though the details for the safeguarding ring-fenced account is not stated at the time of transfer, it is covered in our terms and conditions, which states that your Tide E-Money account is held within a PPS ring-fenced safeguarding account. We are working on introducing a more streamlined process to prevent these particular issues going forward.

I can see that your funds were returned to you in August. To allow us review this procedure ,and ensure we have taken care of everything for you, it would be great if you could respond to the latest email sent on 10th September from my colleague Ali.


Where does it state that? “ring-fenced” doesn’t appear in the PDFs (nor any similar mention)
It’s not clear that funds transferred from my tide account, actually originate from a “ring-fenced” account, or any other account for that matter.


Good morning,

I am desperately in need of this money that was transferred to me yesterday and it isn’t in my ride account! I need this resolved now! I want my money, I need it for my business! I will have to move banks if this is what happens!

Get back to me now please I am in a situation now where I cannot pay my bills nor pay people for services! I want this sorted immediately

George Turrell

Sort: 23-69-72


Best of luck George, it took over a week for them to sort out when this happened to me.
Totally unacceptable service from Tide.

I have now closed my account, and have opened a complaint with the Financial Services Ombudsman. I suggest you do the same.



Thanks for reaching out.

I can see that an agent from the Member Support has been in touch with you about your query.

If you have any other questions or queries, message our team via the in-app chat and an agent will be happy to help.



Hi @cohoda,

We are sorry you feel this way.

Our Member Support team strive to deliver fast and effective solutions to our members so we are disappointed this was not the case for you.

We do wish you all the best with your future endeavours.