What is an unsecured loan? How does it differ from a secured loan?

A secured business loan is money borrowed or secured against an asset you already own. This could be something like a car, premises or anything or value that will be used to secure payment to the creditor in the event that you are unable to repay the loan. In contrast, an unsecured business loan doesn’t require you to provide anything as security. Instead, you borrow a lump sum and then pay this back with interest over an agreed timeframe.

We’re on the road to let you accept payments in other currencies, starting soon with USD. We’ll let you know when we make this possible. 

To receive payments in euros, you'll need to get your International Bank Account Number (IBAN) and Bank Identifier Code (BIC), by agreeing to the T&Cs of our product. 

To do this and view your details, open your app > go to the 'Payments' tab > tap 'Details' next to your main account > 'EUR SEPA'. Then tap 'Share' to send your IBAN with your payors from SEPA countries and receive payments in EUR from them. 

We’ll convert any euros you receive into pounds and credit them to your primary GBP Tide bank account, minus a 0.50% FX markup.

You can learn more about EUR SEPA payments on our dedicated FAQ page.