Beware Tide Banking

CharlieP49

We have a very large payment missing... It was paid by BACS by our client 8 days ago. As yet this payment is still not showing in our bank.
We have been sent a screen grab of the payment showing complete. We have reached out to TIDE raising our concerns and have been given automated answers.
We have been in contact with BACS who know nothing about TIDE. They use a company called Pre-Pay Solutions to administer their payments.
This is our first payment into this account and we will never use it again, please do not use this "money shop". Do an internet search on missing payments, it is a common issue.
As a small business this could literally break us.

born_again

Your client should be contacting them and recalling the payment and getting it resent.
It is not up to you to chase the payment.
I would also question the screen grab details. Anyone can fake that.

simonrockman

CharlieP49 said:

We have a very large payment missing... It was paid by BACS by our client 8 days ago. As yet this payment is still not showing in our bank.
We have been sent a screen grab of the payment showing complete. We have reached out to TIDE raising our concerns and have been given automated answers.
We have been in contact with BACS who know nothing about TIDE. They use a company called Pre-Pay Solutions to administer their payments.
This is our first payment into this account and we will never use it again, please do not use this "money shop". Do an internet search on missing payments, it is a common issue.
As a small business this could literally break us.

We've had exactly the same. It turns out that Tide has limits on how much you can have in your account and how much can be paid in at a time. That's bad enough but the real problem is that Tide didn't alert us to it's having bounced our money and then has proved impossible to deal with. The only thing that Tide is responsive on is replying to social media comments, saying "do not hesitate to get in touch and we will call you". This is a lie. tide does not call.

colsten

eeek. They don't even have FSCS protection - critical for a small business, I would have thought. Their explanation for why they don't need it seems rather half-baked. I wouldn't trust them.

YuryZ

Tide Bank Review
I have Tide account blocked for 9 days already as they are investigating 7 small transactions to Toolstation or the same type of supplier. I cannot pay wages, cannot pay to the suppliers. Speaking to them everyday and no one can give me any information. It is a scam bank. Avoid Tide bank at any cost.