Two different questions
It helps to keep these entirely separate in your head. Question one: does Tide's underlying business account criteria let you open an account at all? Question two: given an approved account, does the REFER200 campaign's own eligibility apply to you? Passing the first does not automatically mean you pass the second, and it is entirely possible to be a perfectly eligible Tide customer while missing out on the campaign specifically because you were already a member, or because the code was never attached.
Account eligibility
- Tide currently lists sole traders, freelancers and directors of limited companies as applicant types. Business structure, activity, identity checks and campaign qualification are separate, and Tide makes the final decision.
- A UK resident director or owner able to complete identity verification.
- Valid photo ID and, for a limited company, Companies House details.
- A business activity Tide is willing to serve — some sectors are excluded by policy.
Campaign eligibility
Separately from account approval, the REFER200 campaign is for new Tide members only, limited to one reward per eligible business, and requires the code to be entered during signup or applied retrospectively within 7 days of account opening via Tide in-app chat. An approved account with no campaign attached earns nothing, which is the single most common disappointment we see.
'New member' generally means you have not previously held a Tide account of any kind under the same identity — closing an old Tide account and reopening a new one specifically to claim a fresh reward is exactly the kind of activity campaign terms are written to exclude.
What can cause a decline or delay
- Mismatched details between your ID, your Companies House record and your application.
- A recently incorporated company with no digital footprint — often just a delay rather than a refusal.
- A business sector Tide does not support.
- Previous Tide membership, which affects the campaign even where the account is approved.
Sole trader vs limited company: does it change eligibility?
Both structures can be eligible for a Tide business account, and the campaign itself does not appear to treat one structure more favourably than the other. What differs is the documentation each needs: a sole trader typically needs to confirm their trading details and personal ID, while a limited company additionally needs to match its Companies House record — director names, registered address and company number all need to line up with what you enter, and a mismatch here is one of the more common causes of a referral for manual review.
What if your business has more than one director or owner?
Tide generally has its own process for verifying multiple directors or owners, and only one person typically completes the initial application and identity check while others may be verified separately or added afterwards. If your business has several owners, check which one should apply as the primary applicant before starting, since restarting an application under a different name after the fact is more disruptive than deciding up front.
What if you were previously declined by Tide?
A previous decline does not necessarily mean a repeat application will fail — circumstances such as a newly incorporated status, thin credit history, or an unusual sector classification can change over time. However, if you were declined and never actually held an account, that generally does not make you a 'previous Tide member' for campaign purposes; it is holding an account, not merely applying, that typically counts. Confirm against the current campaign terms if this applies to you.
Before you start
- Have your ID, company number and business address to hand.
- Apply on a device you can use for identity checks, ideally a smartphone with a working camera.
- Set aside fifteen uninterrupted minutes rather than starting the application in a spare moment.
- Check in advance which named individual should be the primary applicant if there is more than one owner.
- Confirm you have never previously held a Tide account before you begin, so you know whether the campaign applies to you at all.