Tide business current account

winkowinko

They have sign-up bonuses for opening a current account, but I never see them discussed on here.

I know they are supposed to be for businesses/sole traders, but do they actually check? What if you are newly self-employed? How would they be able to verify this?

flaneurs_lobster

Can't speak generally but I signed up with no pretence of being any kind of business user and never been asked to verify.

Regular bonuses too of the "spend £10 with card get £5" type.

winkowinko

flaneurs_lobster said:

Can't speak generally but I signed up with no pretence of being any kind of business user and never been asked to verify.

Regular bonuses too of the "spend £10 with card get £5" type.

Did they pay out the bonus? I see there is a requirement to spend £500 within the first 2 months. What can/can't you spend it on?

danny13579

winkowinko said:

They have sign-up bonuses for opening a current account, but I never see them discussed on here.

I know they are supposed to be for businesses/sole traders, but do they actually check? What if you are newly self-employed? How would they be able to verify this?

If you register as a company they do check. If you register as a sole trader they don't (as far as I know).

I find that the regular bonuses are not as regular as they used to be. It's more cashback now and the odd competition entry for using the debit card.

flaneurs_lobster

winkowinko said:

flaneurs_lobster said:

Can't speak generally but I signed up with no pretence of being any kind of business user and never been asked to verify.

Regular bonuses too of the "spend £10 with card get £5" type.

Did they pay out the bonus? I see there is a requirement to spend £500 within the first 2 months. What can/can't you spend it on?

I signed up in Sep 23, looking at the statements the bonus was £75 (paid) for a spend of £150 (supermarkets), so my experience is somewhat dated. Still got the account 'tho.

winkowinko

A friend sent me a referral. We both get £150 if I spend £500 on the card within 60 days

Zanderman

danny13579 said:

winkowinko said:

They have sign-up bonuses for opening a current account, but I never see them discussed on here.

I know they are supposed to be for businesses/sole traders, but do they actually check? What if you are newly self-employed? How would they be able to verify this?

If you register as a company they do check. If you register as a sole trader they don't (as far as I know).

I find that the regular bonuses are not as regular as they used to be. It's more cashback now and the odd competition entry for using the debit card.

If you apply for an account as a company and you don't have a company then you're unlikely to succeed.  Companies are legal entities and your account would need to be in the (non-existent) company's name, not yours. And it would, obviously, be fraudulent to even try. But opening as a sole trader would normally be ok - after all everyone does a bit of sole trading now and then. But be wary nevertheless, if you really aren't trading at all then to say you are is misrepresenting yourself to a bank. 

winkowinko said:

A friend sent me a referral. We both get £150 if I spend £500 on the card within 60 days

Yes, they do referrals - but referrals are persona non grata on this forum, so best not talked about at all!

Chief_of_Staffy

It would be a very strange bank that didn't request your business details and check your details with HMRC if you're signing up for a business account.

Zanderman

Chief_of_Staffy said:

It would be a very strange bank that didn't request your business details and check your details with HMRC if you're signing up for a business account.

They wouldn't check with HMRC if you're a sole trader working under your own name. 

Chief_of_Staffy

Zanderman said:

Chief_of_Staffy said:

It would be a very strange bank that didn't request your business details and check your details with HMRC if you're signing up for a business account.

They wouldn't check with HMRC if you're a sole trader working under your own name. 

I am, and my bank do. They require your UTR number and business address, and I assume they check them once given.