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I don’t think they are points earner but folks here are quite astute and wondered of any have had good or bad experience with them? If nothing else, thinking of using as a second account for bank switch offers.
Tide only offer e-money business accounts. It isn’t a bank and doesn’t comply with the 7 day switching guarantee, so you’ll struggle to switch these accounts anywhere!
I used Tide as the main/only bank account for a UK Ltd company for a while.
As per previous post, it’s not a “bank”, it’s an EMI and therefore no FSCS etc.
The IT side of it worked acceptably well but I switched away and wouldn’t use them again. The plus points are that card transactions including in FX are free, that it’s crypto-friendly (no blocking the account for using Coinbase etc), and the basic functionality is reliable.
Negatives are low limits (for example maximum size of card payments), fees for incoming payments, poor support – sometimes taking days to answer messages via the app with no phone option or route to escalate, and over-zealous KYC/AML – had several “verify yourself and your transactions or we will block your account” messages with threatening language in quick succession with poor communication from Tide throughout.
I’m not aware of any points opportunities but they have done bonuses for signup before: https://www.hotukdeals.com/deals/ps100-signup-bonus-with-code-when-you-open-a-tide-business-account-via-nerdwallet-4029945
It’s basically a toy, a cheap and limited business bank account for side (evening/weekend) businesses, rather than something you should make yourself dependent upon.
Thank you all for the input, much appreciated.
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