Posted on September 18, 2019 by staff

SME-focussed FinTech firm Tide to launch paid plan


Digital business banking platform Tide has announced it is to launch Tide Plus, an upgraded account giving its members additional support for running their businesses.

The upgrade, for a monthly fee, was successfully trialled by a group of Tide members and will be available to all members by the end of 2019.

The upgraded membership offers additional features to its business customers which includes dedicated phone support, prioritised in-app messaging, a dedicated legal helpline, twenty free transfers per month and a newly designed Tide Plus card.

Sarah Young, VP of member engagement at Tide said the firm was recognising the diversity of SME owners with its new plan.

“Tide Plus is for businesses that, in addition to the digital channel support, prefer high quality phone support,” she said.

“The upgrade is visually supported by a very smart black card and offers additional benefits, such as legal support tailored to small business needs.”

The firm reports that over 60 per cent of Tide members said they would be willing to pay for an enhanced product.

Oliver Prill, CEO said that after ClearBank, in partnership with Tide, received a £60m grant from the RBS Alternative Remedies Package, a number of product commitments have been made.

“As part of those commitments we said we would be launching compelling attractors to ensure the Tide business current account is an attractive alternative for as many small business owners as possible,” he said,

“Tide Plus, which propels Tide from digital only into a digital first player, is a key part of this commitment.”

The firm recently placed 19th on BusinessCloud’s ‘100 FinTech Disrupters’ list.