Tide vs the rest
Four free-to-open UK business accounts, side by side. Tide is the only one currently paying a welcome reward worth up to £200.
Tide referral code
Enter NEW200 when Tide asks for a referral or promo code during sign-up — or just use our link and it is applied for you.
T&Cs apply. New Tide business accounts only. We may earn a reward.
Side by side
The comparison table
| Provider | Monthly fee | Welcome offer | Savings |
|---|---|---|---|
| TideAccounts powered by ClearBank with FSCS protection up to £120,000; strongest signup reward of the three. | £0 | Up to £200 (NEW200) | Instant Saver, up to 4% AER (variable) for 4 months |
| Starling BusinessA fully licensed bank with FSCS protection up to £120,000. | £0 | None | Business saving space |
| Monzo Business LiteA licensed bank; the useful tools sit on the paid Pro plan. | £0 | Occasional small offers | Pots, no interest on Lite |
| High street bankBranch access and cash handling, slower to open. | £0 for 12–18 months, then £6–£12 | Occasional switch offers | Business savings account |
Fees and offers shown are indicative and change regularly. Always check each provider's own site before applying.
The honest view
Tide pros and cons
What Tide does well
- +No monthly fee and no minimum balance on the Free plan
- +Account opens in minutes, entirely in the app
- +Up to £200 welcome cashback through the NEW200 referral
- +Balances powered by ClearBank, FSCS-protected up to £120,000
- +Instant Saver pays up to 4% AER (variable) for your first 4 months
- +24/7 in-app chat support, 365 days a year
- +Invoicing, expense cards and accounting sync built in
- +Cash deposits possible at Post Office and PayPoint
Where it falls short
- –Only 5 free bank transfers a month on the Free plan, then 20p each
- –PayPoint cash deposits cost 3% of the amount paid in
- –2.75% FX fee on foreign currency card payments unless you pay for a plan
- –No branches, and cheques can only be deposited digitally
- –Phone support and 0% FX fees sit behind the paid plans
- –Only 3 free invoices a month until the £69.99 Max plan
Who suits what
Picking between them
Choose Tide if you want the cash
No other free UK business account is paying a £200 welcome reward. If you can spend £100 on the card and park £5,000 for a month, it is the best-paying option available right now.
Choose Starling if you want a direct banking licence
Starling holds its own banking licence. Protection is the same either way though: eligible balances are FSCS protected up to £120,000 with Starling, and up to £120,000 with Tide because its current accounts are Powered by ClearBank.
Choose Monzo if you already bank personally with Monzo
One app for both sides of your money is genuinely convenient, but the Lite plan is thin on business tooling and there is no meaningful welcome reward.
Keep a high street account if you handle a lot of cash
Branch and cash handling is cheaper at a traditional bank once you are depositing regularly. Many businesses run Tide alongside, to claim the reward and use the app tools.
Moving over
Switching without disrupting payments
- 1
Open Tide alongside your current account
There is no need to close anything. Open through the referral link first so the reward is attached from day one.
- 2
Move your incoming payments
Update your invoice template and standing customer records with the new sort code and account number.
- 3
Rebuild your standing orders
Tide is not part of the Current Account Switch Service for every account type, so list your regular payments and recreate them manually.
- 4
Run both in parallel for a month
Keep the old account open until every direct debit has landed on the new one, then close it down.
By trade
Which account suits your business
Freelancers and contractors
A free account that separates business from personal money, with invoicing built in — the card spend half of the referral is easy to hit on software and travel.
Ecommerce sellers
Fast payment matching and accounting sync suit high transaction counts, though only 5 free transfers a month on the Free plan makes Smart or Pro worth costing out.
Trades and services
Post Office cash deposits and mobile invoicing from a van or site are the practical wins; expense card seats suit small crews.
Agencies and consultancies
Expense cards, additional business accounts and same-day payments handle retainer-based cash flow with reserves that can sit in Instant Saver.
Landlords and property companies
Deposit floats and rental reserves make the £5,000 savings half of the referral straightforward to complete.
Businesses handling heavy cash
Post Office deposits cost 0.99% (minimum £2.50) and PayPoint 3%, so a cash-intensive shop or takeaway should cost that up carefully.
Feature by feature
The full comparison: Tide, Starling, Monzo and the high street
Headline monthly fees look identical across the app-based accounts, so the differences show up in the detail: how many transfers you get, what cash deposits cost, whether expense cards are included and what you are paid for opening. This table covers the entry-level plan at each provider.
| Feature | Tide | Starling | Monzo | High street |
|---|---|---|---|---|
| Monthly fee (entry plan) | £0 | £0 | £0 (Lite) | £0 for 12–24 months, then £6–£12 |
| Welcome reward | Up to £200 with NEW200 | None | None on Lite | Occasional switch cash, conditions attached |
| Instant-access savings | Instant Saver, up to 4% AER (variable) for 4 months | Business saver space | Savings pot on paid plans | Typically low rates |
| Free bank transfers | 5 a month, then 20p | Unlimited free | Unlimited free | Free after the intro period on most |
| Cash deposits | Post Office 0.99% (min £2.50), PayPoint 3% | Post Office, fee applies | PayPoint, fee applies | Branch deposits, usually cheapest at volume |
| Invoicing built in | Yes — 3 free a month on Free plan | Yes, with Toolkit | Yes on paid plans | Rarely |
| Accounting links | Xero, QuickBooks, Sage, FreeAgent | Xero, QuickBooks, FreeAgent | Xero, QuickBooks, FreeAgent | Varies by bank |
| Expense cards | £5 a month per seat on Free | Free additional cards | Team cards on paid plans | Usually chargeable |
| Deposit protection | FSCS up to £120,000 (Powered by ClearBank) | FSCS up to £120,000 | FSCS up to £120,000 | FSCS up to £120,000 |
| Branches | None | None | None | Yes |
Worked examples
What each account really costs you
A £0 monthly fee is not the same as a free account. Below are four common UK business profiles and how the running costs actually land over a year.
Sole trader, card-based, few transfers
- With Tide
- £0 a year on the Free plan — most spending is on the card and under 5 transfers a month
- Elsewhere
- £0 with Starling or Monzo Lite too
Costs are level, so the £200 reward is the deciding factor
Limited company, 30 transfers a month
- With Tide
- About £60 a year on Free (25 chargeable transfers a month at 20p), or move to Smart
- Elsewhere
- £0 with Starling, which has unlimited free transfers
Starling is cheaper on running cost, but year one still favours Tide after the reward
Trade business taking cash daily
- With Tide
- 0.99% at the Post Office adds up quickly — roughly £100 a year on £10,000 of deposits
- Elsewhere
- A high-street account with free branch banking is usually cheaper
Run Tide alongside for the app tools and the reward, bank the cash elsewhere
Growing team with expense cards
- With Tide
- £5 a month per card on Free, or upgrade to Smart at £12.49 for included seats
- Elsewhere
- Starling includes extra cards at no cost
Compare on seats, not headline fee, once you pass three cards
Estimates based on the published Free plan pricing. Your own costs depend on volumes.
Common questions
Choosing between them
Is Tide better than Starling?
On running cost for a transfer-heavy business, Starling is usually cheaper because transfers are unlimited and free. On day-one value, Tide wins by a distance because no other free UK business account is paying up to £200 to open. Many businesses open Tide for the reward and keep whichever they prefer afterwards.
Is my money as safe with Tide as with a high-street bank?
Yes, to the same limit. Tide business current accounts are Powered by ClearBank, so eligible balances are FSCS protected up to £120,000 — the same limit that applies at Starling, Monzo or any high-street bank.
Can I hold more than one business account?
Yes. There is no limit on how many business accounts a UK business can hold, and running two is common — one for day-to-day banking and one for cash handling or savings.
Does switching accounts affect my credit file?
Opening a Tide business account involves identity and business verification but no hard credit search, so it does not affect your personal credit score. Applying for credit products later may.
Which account is best for a brand new business?
Tide, in most cases. It opens in minutes with no credit check, costs nothing to run at low volumes, and the NEW200 reward is worth up to £200 in your first couple of months.
Tide wins on the welcome reward
Opening the account is free, so the £200 is the only real differentiator on day one.