HairbyTor
Well-Known Member
Has anyone used these? Any opinions?
Tide banking
- Thread starter HairbyTor
- Start date
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salonfrog
Accountant for salon owners
I've not had any dealings with tide.
Tide isn't a bank as such, and so isn't part of the compulsory FSCS £85k protection scheme which U.K. banks are. They do say they ring fence their customers money though.
Looks like a venture capital initiative.
Not saying any of this is bad or good. Just interesting.
Tide isn't a bank as such, and so isn't part of the compulsory FSCS £85k protection scheme which U.K. banks are. They do say they ring fence their customers money though.
Looks like a venture capital initiative.
Not saying any of this is bad or good. Just interesting.
HairbyTor
Well-Known Member
Thank you for your reply! I'm new to self employment and looking at my banking options. When I was looking at the comparison sites it was featured on all 3 I looked at.
I liked that there wasn't a monthly fee and that there was a clear cost per transaction, however I wasn't sure how it would work with paying cash in, as a hairdresser dealing in cash it is an important factor to have that as an easy option!
I liked that there wasn't a monthly fee and that there was a clear cost per transaction, however I wasn't sure how it would work with paying cash in, as a hairdresser dealing in cash it is an important factor to have that as an easy option!
salonfrog
Accountant for salon owners
It's definitely a good point: how easy it is to deposit cash, if you take a lot of cash sales rather than card. One thing to consider as well as the fee.
