Open A Business Bank Account In Minutes

Open A Business Bank Account In Minutes

13:40 PM, 9th April 2021, About 2 months ago 13

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For landlords who need to open a business account FAST we recommend Tide.

In just just a matter of minutes you can open a business bank account online and obtain an account number, sort code and a free business Mastercard (applicable to Limited Companies as well as sole or joint owners of property).

Tide is powerful and simple, and saves business owners like you time and money – and that’s why we’re proud to partner with them.

No annual or monthly fees (free sign-up and free to try out alongside an existing account)

No credit checks when opening an account

Company expense cards (order up to 35 additional Mastercards)

Free bank transfers for one year, after one year bank transfers are 20p when sending or receiving money from a non-Tide account

Free access to product features such as their Company Registration tool, Virtual Office Address, Accountancy Software Integrations, Receipt Importer, VAT Manager (which links to HMRC), Expense Management, invoicing Tool (including Invoice Protection and invoice payments by Direct Debit) and the COVID-19 Help Hub

Your money is safe

Tide’s banking services are provided by PrePay Solutions, who are regulated by the FCA via an e-money license. Members’ funds are kept in a protected Safeguarding account, meaning that they can never be loaned out to other customers and, as such, are not exposed to risk.

Scheduled payments

Easily setup or edit standing orders, direct debits and one off payments.

Instant credit

Access up to £15,000 in under 2 minutes. No credit score impacts and no repayment penalties.

Integration

Tide integrates seamlessly with the big accounting software packages including Quickbooks, Xero, FreeAgent, Sage, Reckon, Kashflow and more.

Card control

Manage your cards in seconds, straight from the Tide app.

In-app support

Chat to the tide team with any questions 24/7 365 days a year.

To open an account CLICK HERE and remember to input Property118 in the box which asks for a “Partner Code” in order to access VIP service.



Comments

by steve p

9:41 AM, 10th March 2020, About A year ago

http://www.telegraph.co.uk/personal-banking/current-accounts/trusting-money-app-could-leave-risk

I have just moved my business account to starling which is free after hsbc wanted to charge me £6.50 a month and unlike tide is covered by the financial compensation scheme. I looked at both Tide and Starling. Would highly recommend Starling.

by Mick Roberts

11:20 AM, 10th March 2020, About A year ago

Brilliant Mark,
People do need info like this as we all know some terrible banks out there when it comes to setting up Business bank accounts. The proof's required are horrendous.

by Mark Alexander

2:28 AM, 12th March 2020, About A year ago

Reply to the comment left by Mick Roberts at 10/03/2020 - 11:20
The problem with the High Street Banks is that their staff are heavily targeted on cross selling insurance and other financial services products. That’s why they insist on meeting you when all you really want to do is open a business bank account. Some will want cashflow forecasts, business plans and a bloody family tree diagram before they will open an account for you. Their true motive is to sell you key man insurance and a whole bundle of other stuff which you can probably source much cheaper in the internet or through a good broker. I say avoid the High Street banks like Coronavirus!

by Mick Roberts

6:51 AM, 12th March 2020, About A year ago

Reply to the comment left by Mark Alexander at 12/03/2020 - 02:28
Ha ha yes. I think I may have been into a branch maybe twice in 20 years.
Once when fell out with the missus for a few days, so I had to do some banking meself.
And the other time, when tracing old bank account, they had me in to prove who I was-All for £13. Aaaahhhhh.......

by Tim Jones

7:29 AM, 14th March 2020, About A year ago

We opened a tide account for our buy to let properties, and it’s been good , however we didn’t realise that there was an upper limit on how much money could be deposited so when our paragon mortgage came in tide did not show it - tide took 2 weeks to raise it - all this was done with in app messaging which was frustrating as we were not given visibility of this process - when it did show we went to pay off loans we had and found the account was blocked due to an unusual large deposit!!!! Frustratingly this took a couple of days to sort out as well

by Paul Shears

10:14 AM, 14th March 2020, About A year ago

Reply to the comment left by Tim Jones at 14/03/2020 - 07:29
I put great weight on first impressions. Time to change your bank.

by Mark Alexander

12:25 PM, 14th March 2020, About A year ago

Reply to the comment left by Tim Jones at 14/03/2020 - 07:29
That’s quite a frequent occurrence these days, especially with new account.

Due to my international traveling I use Revolut for my personal banking and have had exactly the same issues to deal with for large transactions. It’s all to do with money laundering regulations, not your bank.

by Glenn Ackroyd

16:11 PM, 14th March 2020, About A year ago

Revolut has a business account as well. It's useful because you can add team members (employers), give them cards with limits/restrictions, but the main benefit is time saved on bookkeeping.

You can take a photo of a receipt and give it a description and allocate it to an account code. It integrates with Xero - so the transaction is auto entered with the receipt scanned in.

by Mark Alexander

16:17 PM, 14th March 2020, About A year ago

Reply to the comment left by Glenn Ackroyd at 14/03/2020 - 16:11
Hi Glenn

I use Revolut Business myself, and I agree that it is excellent. The reason I chose Revolut business over Tide were the currency exchange functions. As I am resident in Malta but regularly travel to both the USA and Russia that was quite important to me.

Tide Business Banking does everything else you have suggested, which is probably more than enough for most UK based landlords. Their charges are cheaper and their onboarding process is quicker too. That's why we decided to partner with Tide as opposed to Revolut, despite my rather unusual set of circumstances for a UK landlord meaning that Revolut Business was actually the more logical choice for me.

Both are excellent, but it's a case of 'horses for courses'.

Thanks for commenting 🙂

by Bill

10:38 AM, 10th April 2021, About 2 months ago

Revolut refused to change my address when I moved to Cyprus, they said I should have done it before I left the UK, why this mattered I do not know.. Result, account closed. I moved to Transferwise, (Now Wise) and have had no problems with them.

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