Tide Bank has become a notable option for UK SMEs, but reported issues with customer support and account access have led some users to seek other solutions. This article will explore what Tide offers, delve into the reasons you might look for an alternative, and present other banking platforms tailored to your specific business needs.
What is Tide Bank?
Established in 2015, Tide is a UK financial technology firm providing mobile-first banking for small and medium-sized enterprises. Its platform offers instant account setup, built-in bookkeeping tools, and options for cash deposits and international payments.
Tide uses a tiered pricing structure, starting with a free plan and scaling up to paid plans with more features and support. While many users praise its user-friendly design, some have reported issues with customer support and account access.
What to Consider When Selecting a Tide Bank Alternative?
When searching for an alternative to Tide, it's helpful to evaluate platforms based on your specific business requirements. Here are five key factors to consider:
- Pricing and Fee Structure:Evaluate whether a platform's monthly subscription, transaction fees, or pay-as-you-go model best aligns with your company's transaction volume and budget.
- International Payments and Currency Support:Consider your need for multi-currency accounts, competitive foreign exchange rates, and low-cost global transfers.
- Customer Support Quality:Look into the responsiveness and availability of support channels, especially if you require dedicated assistance for complex issues.
- Integrations and Specialized Tools:Check for compatibility with your existing accounting software, payment gateways, and other essential business applications.
- Account Security and Accessibility:Investigate the platform's reputation for reliability to ensure consistent access to your funds and robust security measures.
If these considerations resonate with your business needs, explore the alternatives we've detailed in the next section.
10 Best Alternatives to Tide Bank
1. OneSafe
OneSafe is a finance platform designed to modernize banking for businesses, particularly those operating in the Web3 and crypto sectors. It provides essential tools for fund management, quick payments, and access to both traditional and digital assets.
The platform offers a direct 1:1 conversion from USD to USDC on Polygon for straightforward global payroll and expense management. Businesses also gain from streamlined onboarding, rapid account setup, and highly responsive customer support tailored for the digital asset space.
Pricing
Here's a look at our straightforward pricing, designed to be transparent and fair for your business.
- Free: Account Essentials: We charge nothing for account opening, maintenance, or card issuance. There are no monthly subscriptions or minimum balance requirements.
- 0.1%: US Domestic Transfers: Send and receive funds within the US via ACH and standard wires for a minimal fee. Fedwire payments are a flat $25.
- 0.2%: International Payments: Manage global transactions with 0.2% fees for SEPA payments. International SWIFT wires are 0.2% plus a $50 fee.
- Market Rates: Crypto & FX: Convert between fiat and crypto at market rates with no hidden charges. USDT transactions have a 0.1% fee, and corporate card spending in non-USD currencies has a 3% FX fee.
Reviews
Clients consistently praise our responsive customer support and our platform's ability to solve complex banking challenges, particularly for businesses operating in the Web3 space.
- Amit Chu, Investments @ Celo Foundation: “OneSafe has the best customer support I've ever experienced from a bank.”
- Marco, CEO of Ensuro: “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.”
Want to see how we can help? Check us out here.
2. N26
N26 is a German financial technology company established in 2013, offering a mobile-only banking platform. Its services include transaction accounts, debit cards, overdraft options, and various investment products.
The platform provides real-time banking through its app, which includes tools for managing spending and savings across several tiered account plans. User feedback is varied, with some customers noting a user-friendly interface while others report issues with support response times and account closures.
Pricing
Here's their pricing at a glance.
- Free N26 Standard: A no-cost account with a virtual Mastercard for online and mobile payments.
- €4.90/month N26 Smart: Includes tools for spending and saving, with the option for up to 10 sub-accounts.
- €9.90/month N26 Go: Designed for travel, this plan offers free ATM withdrawals abroad and travel insurance.
- €16.90/month N26 Metal: A premium account that provides a metal card, travel insurance, and priority customer support.
Reviews
User feedback frequently mentions issues with customer support, such as slow response times and unhelpful replies. Some customers have also reported account closures without clear explanations and difficulties accessing frozen funds. Check out more N26 reviews here.
3. Credem
Credem, also known as Credito Emiliano S.p.A., is an Italian banking institution founded in 1910. The bank offers a variety of services, including retail and corporate banking, insurance, and investment solutions.
It operates through several divisions, such as Credem Banca for retail banking and Credem Banca d'Impresa for corporate clients. The institution has also gained attention for accepting wheels of Parmigiano Reggiano cheese as collateral for loans.
Pricing
Credem's pricing varies depending on the specific product or service. Account maintenance fees begin at €4 per month, while card issuance and withdrawals from Credem ATMs are free.
Reviews
Customer feedback often points to issues such as delays in receiving debit and credit cards, a lack of digital card options, and concerns about customer service responsiveness. Check out more Credem reviews here.
4. Wise
Wise, formerly TransferWise, is a UK financial technology company established in 2011. It specializes in international money transfers by utilizing the mid-market exchange rate.
The platform offers a multi-currency account to hold and manage funds in over 40 currencies, along with a debit card for worldwide spending. Services are available for both individuals and businesses through its Wise Business and Wise Platform offerings.
Pricing
Here's their pricing at a glance.
- From 0.57% Sending Money: Fees for sending money vary by currency.
- Free Receiving Domestic Payments: Receiving domestic payments is free for certain currencies, while international wire transfers have fixed fees.
- $9 One-Time Fee Multi-Currency Card: A one-time fee is charged for the Wise Multi-Currency Card. Card spending is free, but ATM withdrawals over $100 per month have additional fees.
- $31 One-Time Fee Business Account Setup: Businesses pay a one-time setup fee to receive account details in 23 currencies.
- Free Holding Money: There are no fees for holding money in the account.
Reviews
Some users have reported issues such as account freezes, unresponsive customer support, and delays in fund delivery. Check out more Wise reviews here.
5. Multipass
Multipass is a UK-based financial technology company that provides businesses with multi-currency virtual International Bank Account Numbers (IBANs). The company also offers local accounts in the EU, UK, and US, as well as corporate cards for daily expenses.
Its services enable businesses to send, receive, and exchange funds in over 70 currencies. Clients are also provided with dedicated relationship managers for account support.
Pricing
Multipass's pricing is tailored to each business and includes fees for onboarding, monthly maintenance, payments, and corporate cards. Costs for services like account opening start from £500 and monthly maintenance from £100, but businesses must contact Multipass for a specific quote based on their needs.
Reviews
User feedback generally covers the platform's reliability, interface, international payment performance, and dedicated customer support, with 9% of reviews on one platform being 1-star. Check out more Multipass reviews here.
6. Finom
Finom is a European financial technology company founded in 2019 that provides digital banking and financial management services for SMEs and freelancers. The platform offers online accounts with local IBANs, invoicing, accounting integrations, and expense management tools.
The service includes free physical and unlimited virtual debit cards, offers up to 3% cashback on business purchases, and supports multiple currencies for international payments. Finom's platform is built with a user-focused interface and provides customer support to assist with financial operations for businesses across Europe.
Pricing
Here's their pricing at a glance.
- Free Solo Plan: Designed for freelancers and self-employed individuals, this plan includes one user, a personal IBAN, free physical VISA cards, and basic invoicing features.
- €9/month Start Plan: Suited for small businesses, this option provides two users, a personal IBAN, free physical VISA cards, and advanced invoicing capabilities.
- €28/month Premium Plan: This tier offers five users, a personal IBAN, free physical VISA cards, and integrations for invoicing and accounting.
- €149/month Corporate Plan: Tailored for larger businesses, this plan includes ten users, a personal IBAN, free physical VISA cards, and advanced invoicing and accounting features.
- €339/month Enterprise Plan: This plan provides fifteen users, a personal IBAN, free physical VISA cards, and all features from the Corporate plan.
Reviews
User feedback often addresses the platform's interface and support, while some customers have noted concerns regarding account management, fees, and transaction processing. Check out more Finom reviews here.
7. Airwallex
Founded in 2015, Airwallex is a financial technology company that provides a suite of services including cross-border payments, multi-currency business accounts, and expense management. The platform also offers corporate cards to facilitate business spending.
Businesses can hold funds in over 20 currencies and access foreign exchange rates with a markup of 0.5% to 1% above interbank rates. The service provides free local transfers to over 120 countries, corporate cards with zero international fees, and integration with accounting software like Xero and QuickBooks.
Pricing
Here's their pricing at a glance.
- Free Explore Plan: Available at no cost for users meeting specific deposit or balance requirements, this plan includes multiple business accounts and transfers to over 120 countries.
- $99/month Grow Plan: This plan includes the features of the Explore Plan, adding international batch transfers, expense management, and bill pay services.
- $499/month Accelerate Plan: This tier includes all features from the Grow Plan, plus centralized financial management for global entities and single sign-on capabilities.
- Custom Plan: Pricing is tailored for high-volume businesses or those needing custom API implementations.
Reviews
User feedback indicates varied experiences, with some customers reporting issues such as delayed customer service, account suspensions without clear explanations, and challenges with the verification process. Check out more Airwallex reviews here.
8. Anna Money
ANNA Money is a UK-based financial service provider offering business accounts for small and medium-sized enterprises, freelancers, and creative professionals. The platform combines invoicing, receipt scanning, and tax calculation tools to assist with financial management.
Users can open an account quickly, manage expenses by matching receipts to transactions, and process payroll with bulk payments. While customer support is available 24/7, some clients have reported issues with account freezes and difficulties accessing funds.
Pricing
ANNA Money's pricing is usage-based and starts at £0 per month. Fees are applied based on the services utilized, and no monthly charge is incurred if the account is inactive for a month.
Reviews
User feedback on the platform is varied, with comments addressing the app's features and invoicing tools alongside reports of account freezes and difficulties accessing funds. Check out more Anna Money reviews here.
9. Novo
Novo is a financial technology company that provides business deposit accounts through a partnership with Middlesex Federal Savings, with funds insured by the FDIC. The platform offers a mobile-first banking experience tailored for small business owners, freelancers, and entrepreneurs.
The account has no monthly fees or minimum balance requirements and includes a built-in tool for creating and sending invoices. It also integrates with business tools like Stripe and Xero, provides refunds on ATM fees, and offers partner perks.
Pricing
Novo provides a business checking account with no monthly fees, minimum balance requirements, or transaction fees. The account includes refunds on ATM fees up to $7 per month and free incoming wires.
Reviews
User feedback often points to issues with customer support, including slow response times and unhelpful answers. Some customers also raise concerns about account application denials, sudden account closures, and problems with dispute resolution. Check out more Novo reviews here.
10. Ampere
Ampere is a UK-based financial services provider offering a business current account designed for startups and small to medium-sized enterprises. The platform includes multi-currency accounts, invoicing capabilities, business loans, and merchant services.
It facilitates currency exchange at a rate of 0.35% and allows users to generate invoices directly from their account. The service also provides business loans with adaptable plans and merchant accounts with acquiring fees from 0.65%.
Pricing
Here's their pricing at a glance.
- £35 Setup + £20/month Business Account: The setup fee for UK residents covers the first month's maintenance and card issuance. The ongoing monthly fee is £20.
- £25 Setup + £10/month Private Account: The setup cost includes the first month's maintenance and card issuance, with a subsequent monthly fee of £10.
- Transfers & FX: Local GBP and EUR transfers are free. International SWIFT transfers cost £25, and currency exchange for GBP/EUR is 0.35%.
- Card Fees: Debit card issuance is £15, which is included in the account setup fee. ATM withdrawals incur a 2% fee plus £1.50 per transaction.
- Merchant Services: Setup is free for merchant accounts, with acquiring fees starting from IC++0.35% for low-risk transactions.
Reviews
User feedback indicates a desire for more advanced business features and additional currency options, while some reviews mention issues with customer service responsiveness and order fulfillment. Check out more Ampere reviews here.
Which One Should You Go With?
Choosing the right banking partner is a significant decision, and any of the platforms we've covered could be a great fit for your business. If you're looking for a modern financial platform with transparent pricing and exceptional support, we believe OneSafe is an excellent alternative. Ready to experience banking that truly understands your needs? Sign up for OneSafe today.
