GF014 – Need a business bank account quick? Tide might be the answer (and some)
Tide is a new challenger bank that aims to offer hassle free banking with the potential to set up a business account online within just 5 minutes.
Here we chat to Dan from Tide on how this new offering might help fast growth companies including:
- Hassle-free set up using the Tide app - get a sort code and bank account number within 5 mins
- Simple charge structure - no annual fees - 20p per transaction
- Mastercard issued for users
- Account transaction classification, notes, uploads
- Integrations coming down the pipeline incl with Xero etc
- User permissions / accountant read-only access etc on its way
- International transactions and foreign currency accounts on their way
- Strong experienced team and financial backing behind Tide
Get 3 months free banking by using the Partner Code: IPTAX
Or visit our partner link: https://www.tide.co/ip-tax-solutions
I can see this filling a gap, especially for startup companies looking to set up accounts quickly in anticipation of fundraising under say SEIS or EIS.
Also, on the face of it there looks to be little benefit in holding out for an account with a more traditional bank - especially given the added features that Tide offers (unless you anticipate a significant number of monthly transactions).
Check out the podcast below and let me know your thoughts...
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