Simply switching from one bank to another using the Current Account Switch Service will not
affect your credit rating.
However, when you open a new bank account, your new provider may run a credit score check which could affect your credit rating. In the unlikely event that during the switch you encounter any problems with payments (such as a standing order), your new bank or building society will correct them and ensure your credit rating is not affected. Post Office or PayPoint location – you only need your Tide card.
Post Office deposits made on weekdays are usually processed within a few minutes. Deposits made late in the day, on a weekend or Bank Holiday, can arrive in your account on the next business day.
You can’t deposit more than:
£25,000 per single deposit
£25,000 per month
£300,000 per year into your Tide account.
You can make multiple deposits, but the combined amount can’t be above any of the listed limits.
The Post Office have their own limits, and above amounts may vary from branch to branch.
Fees for deposits made at a Post Office:
£2.50 for a deposit of up to £500
0.5% of the deposit if over £500
PayPoint deposits made on weekdays are usually processed within 10 minutes. Deposits made late in the day, on a weekend or Bank Holiday, can arrive in your account on the next business day.
The minimum amount you can deposit at a PayPoint is £10, and the maximum is £500 per day.
Fees for deposits made at a PayPoint:
Important: All cash deposit fees are deducted automatically, at the time of processing. The amount you’ll receive in your account is your deposit, minus the fee.
