Tide Business Account problems

BigSteveLondon

I thought I'd just update you guys as you have been kind enough to offer me advice.

Last night I had an email from 'complaints' and have decided to end my complaint there, as per the advice above, this seems like a consolation regardless.

Below is that email, and it basically aligns with the advice I have received in this thread.

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I’m writing to you today about the complaint you raised on 06 January 2022. 

Your complaint

You were unhappy that your account was paused and subsequently closed.

My findings

After reviewing the case in full, I can confirm that the information provided by us is correct, however, you haven’t received a concrete answer from us as to why we’d be closing down your account and experienced delays in our replies. 

To give you a bit more clarity on the situation, we have to sometimes conduct security checks as we need to remain compliant with our regulators and, most importantly - keep our members’ accounts safe. On some occasions, following the reviews, we wouldn’t be able to offer our services to our members anymore. 

I understand that it’s an inconvenience for you that we haven’t provided you with the exact reason behind this decision, however, due to security reasons, we’re unable to share this information. You can refer to our Terms & Conditions on why we sometimes close down accounts here: https://www.tide.co/terms/. 

With that being said, I’m disappointed to see that we haven’t provided you with any timeframes as to when these checks might be completed, as well as that there were noticeable delays in our responses. 

Conclusion

In light of the above, I’ve decided to uphold your complaint. While the process was followed on our end, there were multiple delays and you weren’t updated regularly about the situation, for which I sincerely apologise. I can assure you that feedback has been provided to the relevant team so we can avoid mistakes like this in the future. 

Furthermore, I’d like to offer you £50 compensation for the delays and inconvenience caused. If you accept this, please reply to this email with a nominated bank account in your name which includes your sort code, account number and bank statement dated within the last 3 months in PDF format and I’ll make sure this is credited to your account.

I trust I’ve resolved this matter. If you have any further queries or concerns, email us at complaints@tide.co.

In line with our complaints procedure and FCA regulations, this is our final response. If you remain dissatisfied with our response or handling of this complaint, you have the right to refer your complaint to the Financial Ombudsman Service (FOS), free of charge – but you must do so within six months of the date of this letter. If you don’t refer your complaint in time, the FOS won’t have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For further information, please refer to this leaflet and/or visit the FOS website.

Alternatively, you can contact the FOS directly as per the below...

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Thanks again for the replies on this thread.

born_again

Nice result.