there are half a dozen updates scheduled for later this year including big ones for international transfers
Where is this information? Do they have a forum? I asked to be a preview tester and they said they would sort it but then never got back to me.
They have a forum. As for previews, they put people on a list but nobody heard anything yet
Any alternative for business banking online?
Fire Business fire.com
Account number and IBAN
GBP and Euro accounts
Transfers thru FPS, BACS and SEPA
API to integrate your accounts
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Thanks for the response but it has a bit high fees as I need lower fees for a euro account for a nonprofit organization, other alternatives with lower fees?
none that I know of online, you could just go to a regular bank (with branches)
The founder George Bevis explains the work going on behind the scenes:
āā¦international payments are our top feature priority and I regret that we havenāt got them out of the door already. Iām happy to disclose why we havenāt. Essentially, it would have been easy for us to deliver outbound international payments (there are lots of partners with whom we could do that). However, inbound international payments require IBANS and that is far more complex to deliver (there definitely arenāt lots of partners with whom we could work, and weāve had to build a lot of the core functionality from scratch). We could have launched an uninspiring version of the feature which converted all payments into GBP automatically (perhaps at an expensive rate changed by a broker), but that wouldnāt be useful for companies who maintain balances in different currencies.
Hence, instead, weāve taken on the much bigger task of building a proprietary forex capability which will give you a unique IBAN and the ability to hold pots of money in lots of different currencies. We believe this will be the most sophisticated international payments capability for SMEs in the World.
This wasnāt the plan when we initially launched Tide: itās an improvement on the original plan and does mean that the date of IBAN launch has been pushed out a bit. This is why we donāt publish a timetable: we know that our members are businesses who need certainty and we donāt want to commit to dates on which we might later backtrack. However: this feature will be worth the wait. Most of it is already built, but it is still a handful of months away Iām afraid.
Standing orders are a much more straightforward feature. Theyāre on the roadmap, but actually youād be surprised by how few members have requested them. Iām sorry we donāt have them yet but it wonāt be long.
In our first few months after launch we had to focus on a lot of ābackgroundā functionality which was invisible to our members but essential to ensure a high quality of service at scale. Now, more of the visible features are beginning to trickle through (e.g. the recent launch of TouchID on iOS, with Android just around the corner). Youāll see more and more of this in the next few weeks and months: our pace of feature releases is increasing as we beef up our development team substantially.ā
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Have you considered Transferwise borderless account?
https://transferwise.com/business
would be interested to know your thoughts
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The biggest issue with their offer is that thereās no card attached to that account. Can be problematic if youād like to pay for online stuff for your business like domains, hosting, etc.
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While Tide have still not launched Multi-user or Multiple cards, Expend have launched this today, so Tide are being overtaken. Expend have a decent app and a web portal too.
Tide has just launched new look cards, which are portrait layout with the details on the back. I just opened up a new account with them for a freelance venture iām working on. I know itāll be very occasional payments in to the company account from clients and then back out to my Monzo current account when iām paying myself so i donāt mind their 20p fees.
And they finally launched FreeAgent integration, which is perfect.
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Good to see they have their priorities right 
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What exactly is ābusiness specific bankingā - What does Tide do for businesses that other banks donāt?
Iām not a business owner, and from looking through their website, I didnāt see any real information about why Tide is good for businesses?
Itās the approach more than anything - similar to Monzo in the fact you can open and run the account exclusively from your phone, except itās aimed at limited companies.
Took me about 2 weeks to sign up for a business current account from a ātraditionalā bank (a further month until my account was eligible for a debit cardā¦). Tide was set up on the same day, card received very quickly after that.
Traditional banks can also tend to charge per-transfer fees in addition to a set monthly fee; Tide has pretty reasonable transfer fees but with no recurring banking fee, which can be nicer for a small startup.
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Ok, thanks - What is stopping a business from using Monzo (or Starling etc) - Is it simply the ānameā on the account?
They donāt have gold rims on their cards.
Thatās the sign of a serious business
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