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What’s the difference between my personal name and trading name when using Confirmation of Payee?

Your personal name is your legal name which is registered to your account, such as “John Smith”. This is the name that Confirmation of Payee uses when verifying account details, and so it’s highly recommended that you provide this name to your customers to ensure they pay you without delay. Your trading name is the name of your sole trader business, such as “John’s Bakery”. You can still provide this name to your customers when collecting payments, but Confirmation of Payee doesn’t use this when verifying account details.

If you have a Tide Business Current Account, you’ll get:

  • Unlimited, free, inbound and outbound UK transfers (subject to Tide's fair use policy)

  • 2 free Expense Cards

  • Tide Accounting – to make your bookkeeping and tax preparation simpler. 

  • A preferential savings rate – Earn between 3.60% AER  and 3.81% AER (variable) on savings up to £150,000 in the Tide Instant Saver Account. Enjoy a tiered interest structure. Each portion of your balance earns its own rate. For full details, see the Summary Box

  • 24/7 priority in-app chat support

  • 9am - 6pm phone support - weekdays (excluding bank holidays) 

  • 24/7 access to a legal helpline (Irwin Mitchell LLP)

  • A stylish, matte black card

  • 0% fees on foreign currency card transactions or ATM withdrawals

  • 2 Additional Business Current Account

  • 2 Team Members with enhanced Team Access 

  • Enhanced rewards

Important: Rates shown are correct as of 08 May 2025. Interest rates are subject to change, and some benefits are subject to eligibility.

If you only have a Tide Instant Saver Account, you won’t get:

  • Free inbound or outbound transfers

  • 0% fees on foreign currency card transactions or ATM withdrawals

  • Additional Business Current Accounts

  • A Tide card

  • Expense cards

These benefits require certain features that only come with a Tide Business Current Account. See more about the advantages of opening one over on this page. If you have any questions, tap Support in the app and we’ll help you.

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