SWITCH BUSINESS BANK ACCOUNTS

The Current Account Switch Service will take care of payments up until seven working days before your switch date. If you want to make new payment arrangements during this seven day period, you’ll need to do it on your new account.

Switching accounts in the UK is free however not all current accounts are free to open and may charge a monthly fee. At Tide, you can open a free business bank account and switch without incurring any fees.

Whilst we don’t offer overdrafts, we’ve partnered with Iwoca to bring you business loans – allowing you to apply for up to £150,000 of credit straight through the app, which can be used as an alternative to a traditional overdraft. Your clients can apply straight through the app, on the home screen. For more information visit our business loans page.

The Current Account Switch Service makes switching your current account simple, reliable and stress-free.

Over 10 million current accounts have been switched so far and over 50 banks and building societies are already part of the service.

The Account Switch Service Guarantee means your new bank will switch your payments and transfer your balance, and your old bank will take care of closing your old account. So you don’t need to worry.

All banks and building societies that display the Current Account Switch Guarantee Trustmark will follow the same switching process and must offer the same guarantees.

You can read more about the guarantee here.