Tide Go Review

Company background

Tide Go is a safeguarded e-money institution, founded in 2017, headquartered in the United Kingdom, operating under Tide Go Ltd. Tide Go is a quick-to-open business account aimed at UK sole traders. We rate it best for sole traders. At its core it is a 2-currency account you run entirely from your phone, bundling business accounts into one app.

Fees and pricing

On day-to-day costs, Tide Go charges no monthly account fee, and applies a 0.4% markup on foreign-currency spending.

• Monthly fee: no monthly account fee.
• FX markup: 0.4% on spending outside your currency.
• ATM withdrawals: free up to 200 GBP a month, then 2%.
• Savings: no in-app savings interest.

For everyday domestic use the running cost is effectively nil, so the figure that matters most is how often you spend or withdraw in another currency.

Regulation and safety

Tide Go operates as a safeguarded e-money institution, regulated by FCA. Customer funds are held in segregated safeguarding accounts (Safeguarded (FCA-authorised e-money)) rather than under a deposit-guarantee scheme. Safeguarding ring-fences your money from the firm's own funds, but there is no deposit-guarantee payout, so it suits spending and transfers more than parking large balances.

Platform experience

Tide Go is available across iOS, Android and Web. The mobile apps score 4.4/5 on the App Store and 4.1/5 on Google Play. Payments run on a Mastercard physical and virtual card, and it works with Apple Pay and Google Pay.

Pros and cons

On the plus side, fast business onboarding and invoicing and accounting links. The main trade-offs are business-only and safeguarded, not protected. On balance it is a comfortable pick best for sole traders, provided its limitations line up with how you actually bank.