Opening a business bank account can be an intimidating and complex process – especially for solopreneurs and small business owners getting off the ground. Between supplying extensive paperwork, understanding jargon-filled documents, and comparing options – the barriers often feel overwhelming.
Traditional big banks cater to massive corporations and established companies. They simply don’t offer suitable accounts for early-stage microbusinesses that need simplicity and flexibility. The outdated application process at most major banks takes weeks with onerous eligibility requirements.
Tide makes the process incredibly straightforward so you can get up and running quickly. In this comprehensive guide, we’ll walk you through everything you need to know to open a Tide account, from eligibility requirements to application tips. Plus, we’ll share an exclusive Tide referral code to help you get started.
Tide Account Eligibility Requirements
Before applying for a Tide account, you’ll want to ensure you meet the basic eligibility criteria. Tide business accounts are available to sole traders, limited companies, partnerships, and LLCs based in the UK. You’ll need to be 18 or older and have proof of ID and address to open an account.
To give you a sense of who typically uses Tide, around 75% of account holders are solopreneurs and microbusinesses with 0-9 employees. So whether you just launched your startup or have been in business for years, Tide can likely meet your banking needs.
What are Required Documentation for Tide bank account
When applying for a Tide account, be prepared to provide certain documents to verify your identity and business operations.
You’ll need:
- Valid photo ID (passport or UK driving license)
- Proof of address (recent utility bill, bank statement)
- Business registration documents like certificate of incorporation
- Having these files on hand will ensure your application goes smoothly without any hangups. Tide’s customer support team is also available to help answer any questions about required documentation.
Streamlined Online Application
One of the best parts of opening an account with Tide is the easy signup process. The entire application takes just 10-15 minutes and can be completed online from start to finish.
Here’s an overview of the step-by-step process:
- Visit Tide’s website and click “Open Account”
- Select your business type
- Enter your personal and business details
- Upload your documentation
- Accept Tide’s terms and conditions
- Verify your identity per regulatory requirements
Before submitting your application, triple-check that all details provided are accurate. Processing times are typically 1-3 business days once submitted.
Exclusive Signup Bonus
Want a little extra incentive to open a Tide account? Use the Tide promo code REFER75 at signup to get £75 added to your account! This exclusive 75-pound bonus makes it well worth signing up.
Over 75,000 businesses have signed up with Tide to manage their finances. As one of the top challenger banks in the UK, Tide offers exceptional value with features like unlimited free transactions, receipt tracking, accounting automation, and more.
Why Choose Tide?
From intuitive digital tools to premium business banking features, Tide stands out from traditional banks in a few key ways:
Seamless Accounting Integrations
Connecting your Tide account to accounting software like Xero or QuickBooks takes just minutes. Automatic syncing makes financial admin a breeze.
Receipt Tracking & Reporting
Simply snap a photo of any receipt through the Tide app. It will instantly be logged and categorized to streamline expenses.
Free Instant Bank Transfers
Need to move money quickly? Send funds to any UK account through real-time bank transfers at no extra cost.
Rest assured your money is secure with Tide. Eligible accounts benefit from up to £4 million in FDIC deposit insurance.
Getting Started With Tide
Ready to establish your business’s financial backbone? Opening a Tide account takes just minutes and a few pieces of information handy. Be sure to apply referral code REFER75 to get £75 added to your new account as an exclusive welcome from Tide.
Within an hour or two, you’ll have secure access to intuitive banking tools to simplify your financial admin. Reach out to Tide’s exceptional customer support team with any questions 24/7.
