Mobile banking firm Tide has launched in the UK, providing a business account app for SMEs. Users can quickly set up a business account with their passport or driving licence. New members are then given a UK sort code and account number, together with a business Mastercard for daily expenses. Tide's automated bookkeeping service categorises transactions as they take place and allows payments to be made at the touch of a button. The company says it is working on an Android version that will allow users to pay using contactless cards such as Apple Pay.
Mobile banking firm Tide has launched in the UK, providing a business account app for SMEs. Users can quickly set up a business account with their passport or driving licence. New members are then given a UK sort code and account number, together with a business Mastercard for daily expenses. Tide's automated bookkeeping service categorises transactions as they take place and allows payments to be made at the touch of a button. The business account carries no monthly fees but there is a 20p ($0.25) charge per bank payment and a £1 charge per cash withdrawal.