Understanding the Recent Fee Structure Changes at Tide Business Bank
Effective August 1, 2025, Tide Business Bank implemented a significant update to its fee policy, transitioning from an inclusive monthly fee structure to a per-transaction fee model. This change marks a shift in how fees are applied and displayed within the bank’s app and reporting systems.
What’s New with Tide’s Fee Policy?
Previously, Tide consolidated its fees into a single monthly charge, which was reflected in your transaction history and account balance. With the new structure, fees are now directly deducted at the moment each transaction occurs. Importantly, these fees no longer appear alongside the transaction details in your app’s transaction history. Instead, they are only visible in your monthly statement or can be extracted via a CSV export of your transaction data.
Implications for Account Management and Reconciliation
This modification can lead to discrepancies between your account balance and the sum of transactions listed in the app. For example:
- If you initiate a £1,000 bank transfer with an associated 20p fee, the transaction will display as £1,000 in the app.
- However, your actual account balance will decrease by £1,000.20 immediately, reflecting the fee deduction.
- Since the app’s transaction history does not show the fee, your reported transactions will sum to £1,000, not accounting for the fee.
This discrepancy was initially confusing for users attempting to reconcile their accounts using accounting software or manual calculations. Without the fees visible in the immediate transaction list, tracking true available funds becomes more complex.
Recommendations for Users
Given these changes, users should consider the following best practices:
- Export your transaction history as a CSV file regularly to monitor earned fees and ensure accurate bookkeeping.
- Refer to your monthly statement for a comprehensive overview of all fees and charges deducted during the billing period.
- Be aware that your account balance in the app may not perfectly reflect the sum of visible transactions at any given time, due to the immediate fee deductions that are not itemized in the transaction list.
Final Thoughts
This strategic shift by Tide Bank raises questions about usability and transparency, especially for business owners relying on precise financial records. For now, users should adapt by routinely exporting data and consulting detailed statements to maintain accurate financial management.
Are you a Tide user navigating these changes? Share your experiences and strategies for managing the new fee structure in the comments below.
