We use Open Banking to enable you to securely connect an existing business current account you hold with another bank to Tide.
Open Banking is the result of a series of reforms in how banks manage your financial information. It was called for by the competition watchdog, the Competition and Markets Authority (CMA). These reforms mean that UK-regulated banks are required to let you share your financial data, such as transactions, regular payments and direct debits, with authorised providers, as long as you give your permission.
In turn, your bank shares this information with these providers through application programming interfaces (APIs). This is a technology that allows companies to securely share data between themselves.
Tide is an authorised third party provider (TPP), regulated by the FCA and listed on the open banking directory.
Remember, you are always in control. With Open Banking, you will not share your password and log in details with anyone other than your bank and you can revoke your consent to share this data at any time.
The Open Banking technology we use keeps your information safe.
Open Banking uses strictly-tested software and security systems. Plus, we will never ask you to share your login details with us.
Financial Conduct Authority
We’re regulated by the FCA, which you have to be to use Open Banking (or the European equivalent). You can check this on the Financial Services Register
We’re a regulated provider
We’re directly enrolled in the Open Banking Implementation Entity directory, which means we’re allowed to provide services through Open Banking. You can also check this in the OBIE directory
