What are the costs associated with invoice finance?

Invoice finance agreements will be priced based on your business and requirements, however invoice discounting and invoice factoring have different fee structures.

Invoice discounting is structured like a loan, with interest payable plus an administration fee.

Invoice factoring charges are known as a ‘factor rate’, which is based on level of risk, volume of invoices, and the time credit is extended for, amongst other factors. ‘Payments’ > Get Paid > ‘Add Money’ > ‘Easy Bank Transfer’. Then, choose your bank from the list, and follow the instructions from your provider to authorise the payment. 

If you have another bank account that’s already connected to Tide through Open Banking, tap ‘Payments’ > Get Paid > ‘Add Money’. Then, select the account and enter the amount you’d like to transfer. We’ll redirect you to your bank’s login page, and authorise the payment. If it’s successful, you’ll see it in your app timeline.