Register a limited company and get a free business bank account with Tide business account
If you are starting a new business, then you can register your limited company for free from Tide (worth £12) and open a free business bank account at the same time.
To open a Tide Business account, go here: Tide Business Accounts.
Content
- Company formation
- Business bank accounts
- Features
- Paying in cash deposits
- Fees
- FSCS
- Our conclusion
Company formation
If you are looking to register a limited company, you can get it done for free with Tide, if you open a business bank account with them as well.
Registering a limited company costs £12 in incorporation fee but you can have it done free with Tide.
Tide offers a number of business accounts including a free business account. You can choose the free account when registering your business with Companies House with Tide or if you want, you can choose a paid monthly business bank account. They offer varying features.
Business bank accounts
Tide offers a mobile app and web based business bank account. And, you are able to manage all your banking in the app or on the web.
Tide offers 3 business bank accounts. These are: Free, Tide Plus and Tide Cashback.
Tide Plus has a monthly fee of £9.99 and Tide Cashback is £49.99 per month.
With the Tide Cashback you can get back 0.5% of the money when you spend it using the Tide card.
Features
You can carry out scheduled payments, set up standing orders and pay your invoices 24/7 via the app or the web.
You can also upload and auto-match receipts for easier account keeping. Tide business accounts can be integrated with popular accounting software including Quickbooks, Xero, Sage and Kashflow.
In addition, you can order additional cards for members of your team or expenses and control all the cards centrally. You can add money, take money away via your main account.
To open a Tide Business account, go here: Tide Business Accounts.
Paying in cash deposits
If you want to deposit cash into your account you can do that easily at any Post Office for £1 per deposit.
You can also deposit cash at PayPoint locations for 3% of the cash amount being deposited.
Fees
Here are some applicable fees.
| Free | Plus | Cashback | |
| Monthly Fees | Free | £9.99 | £49.99 |
| Expense card for your team | £5 per month | 1 card free | 3 card free |
| Depositing | £1 at the Post Office or 3% at PayPoint | £1 at the Post Office or 3% at PayPoint | £1 at the Post Office or 3% at PayPoint |
| ATM withdrawal (UK) | £1 | £1 | £1 |
| Transfers in & out | 20p per transfer | 20 per month free | 150 per month free |
FSCS
Your money is protected by the FSCS in the UK. So, if the bank cannot meet its financial obligations the FSCS will compensate you.
Our Conclusion
If you are opening a new business and need to register it as a limited company and you are looking for business bank account, then you can get both of these for free.
Tide do charge you for withdrawing and depositing cash.
However, Tide is a simple account to open and you get to manage your account via the app and web. You can also intergrade it with accounting software.
To open a Tide Business account, go here: Tide Business Accounts.
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Money Advice Service
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