When to consider a Tide alternative
- Your business sends a high volume of transfers each month and Tide's per-transfer fee on the Free plan makes it expensive.
- You want FSCS deposit protection: Tide Business Current Accounts are powered by ClearBank and eligible deposits can receive FSCS protection up to £120,000. Revolut and Wise do not offer FSCS protection.
- Your business trades internationally at volume and needs multi-currency accounts or competitive FX rates.
- You use FreeAgent and want it included free with your account.
- You prefer a licensed bank relationship for compliance, lending access or client perception reasons.
- You need branch banking or counter services that app-only providers cannot offer.
Best Tide alternatives by use case
| Use case | Best alternative | Why |
|---|---|---|
| Free banking with FSCS protection | Starling Business or Mettle | Both free at core tier; both inside licensed banks with FSCS protection |
| High transfer volume (50+ transfers/month) | Starling Business or Monzo Business | Both offer unlimited free transfers; Tide charges per transfer on Free plan |
| International payments at volume | Wise Business or Revolut Business | Mid-market FX rates; multi-currency accounts; Tide's FX is expensive at lower tiers |
| Free FreeAgent accounting included | Mettle | FreeAgent included free; FSCS protection via NatWest |
| Traditional bank with branch access | NatWest, Barclays, HSBC, Lloyds | Branch network; full banking services; FSCS protection |
| Multi-currency accounts | Revolut Business or Wise Business | Hold 25–40+ currencies; receive in local currencies |
| Sole trader wanting minimum viable account | Mettle or Starling Business | Free, simple, FSCS-protected |
Starling Business
Starling Business is the most direct competitor to Tide for UK-domestic businesses. It is a licensed bank (Starling Bank Ltd) with FSCS deposit protection, a free core account with unlimited free transfers, and a clean, well-regarded app. Its invoicing tools are less developed than Tide's, but it integrates well with Xero, FreeAgent and QuickBooks.
Best for: businesses that make many transfers per month, want FSCS protection, and do not need bundled invoicing or receipt capture built into the account.
Monzo Business
Monzo Business is provided by Monzo Bank Ltd, a licensed UK bank with FSCS protection. Its free tier (Business Lite) includes unlimited free transfers. Its paid tier (Business Pro, £5/month) adds invoicing, expense categorisation and accounting integrations. The app is widely regarded as one of the best in the market for everyday usability.
Best for: businesses that want a clean, simple banking app with free transfers and FSCS protection, particularly those that do not need Tide's deeper admin tooling.
Mettle
Mettle is a free business account backed by NatWest, offering FSCS deposit protection and FreeAgent accounting software included free. It is designed for sole traders and small limited companies that want the minimum viable business account with good bookkeeping support.
Best for: sole traders and small companies that use FreeAgent and want it included free, or that want FSCS protection on a free account without paying for features they do not need.
Revolut Business
Revolut Business is an e-money institution built around multi-currency accounts and international payments. It holds 25+ currencies, offers competitive FX rates on paid plans, and has strong spend management tools for teams operating across borders. Its UK domestic admin tools are adequate but not as deep as Tide's, and its cash deposit capability in the UK is very limited.
Best for: businesses trading internationally at volume, paying overseas suppliers regularly, or invoicing international clients in multiple currencies.
Wise Business
Wise Business is an e-money institution built around international money movement. It offers mid-market FX rates with transparent fees (typically 0.4–1%), multi-currency accounts holding 40+ currencies, and local receiving details in 10+ countries. It does not offer UK cash deposits.
Best for: freelancers and businesses invoicing international clients, businesses paying overseas suppliers regularly, or any business where FX costs are a significant line item.
Traditional banks
NatWest, Barclays, HSBC, Lloyds and other high-street banks offer business accounts with full banking services, branch access, overdraft facilities, and lending relationships. They are typically slower to open, more expensive on monthly fees, and less app-forward than the fintech alternatives — but they offer capabilities that app-only providers cannot match: counter cash handling, branch support, and established lending relationships.
Best for: businesses with complex banking needs, high cash volumes, or a preference for a traditional bank relationship for compliance or client-facing reasons.
Should you still consider Tide?
Tide remains a strong choice for businesses that want invoicing, receipt capture, expense cards and company formation bundled with their business account, and whose transfer volume is low enough that per-transfer fees are not a significant cost. The REFER200 offer (up to £200 cashback) is available to new Tide members who meet the qualifying conditions.
If Tide fits your business, the cashback is worth having. If one of the alternatives above fits better, take the better-suited account — the ongoing fit matters more than a one-off incentive.