The issuer of your Tide card will be identified on your monthly card statement. Tide Cards may be issued by both Tide and PPS, who are licensed by Mastercard International for the issuance of cards. PPS holds an amount equivalent to the money in Tide current accounts in a safeguarding account which gives customers protection against PPS’ insolvency. PPS is a trading name of Prepay Technologies Ltd which is an electronic money institution authorised by the FCA under the Electronic Money Regulations 2011 under firm reference number 900010 for the issuing of electronic money. Some of Tide’s members also hold e-money accounts provided by Prepay Solutions (PPS) (account sort code is 23-69-72). Eligible deposits with ClearBank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. ClearBank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 754568. Tide offers bank accounts provided by ClearBank® Ltd (ClearBank) (account sort code is 04-06-05). Tide is also authorised and regulated by the Financial Conduct Authority in relation to its credit and insurance broking activities (firm reference 718743). Tide is authorised by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011 under firm reference number 900843 for the issuing of electronic money and the provision of payment initiation services and account information services under the Payment Services Regulations 2017. Tide Platform Limited (Tide) designs and operates the Tide website and app. You can read more about this in our blog post: Providing financial security for our members. Non-profit organizations, including charities.Escort services and other services in the adult industry.Sale, import and export of used vehicles or heavy machinery.Unlicensed trading and processing of scrap metal.Trading of weapons, explosives or armaments.Sale or trade of cannabidiol (CBD) products.Casinos, prize draws and other betting or gambling activities.Money services (such as foreign exchange, loan providers, money transfers).The wholesale of precious metals and stones.This includes using the funds on behalf of other individuals The holding, managing an/or controlling of a third party’s (client’s/customer’s) funds in the Tide account.However, there are a number of high risk industries that we can’t take on, as this would mean not being able to focus our time and energy on the rest of our members.Īs a result and going forwards, we will not be offering current accounts to businesses in the following industries: We’re on a mission to help business owners spend less time on money admin. UK-based sole traders and freelancers with a valid UK residential address who are registered with HMRC are eligible for a Sole Trader account.įor both account types, you’ll need to be aged 18 or above, have a valid UK phone number, and hold a device registered to a UK App or Google Play store. If you’re the director of a company registered with UK Companies House, you’ll be eligible for a Registered Business account.
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