How long do outbound payments take?

Transfers and future-dated payments from your Tide account are sent as Faster Payments.

If you set up a transfer, the payment should arrive in your payee's account within minutes. This will depend on where you're sending the money. Some banks can take two hours or more to process Faster Payments so it might take up to four hours to arrive with your payee.Foreign Account Tax Compliance Act (FATCA), and the Common Reporting Standard (CRS).

If you've set up a transfer and it still hasn't arrived after four hours, message us and we'll do our best to help. In the app, go to Support to send us a message.

Good to know: Tide to Tide transfers are instant.

Active NFEs get more than 50% of their gross income from active trade or business, or have more than 50% of their assets in operational business activities that generate income. 

What is a Passive NFE?

A Passive NFE gets more than 50% of its earnings as passive income – from interest, rents, dividends, and royalties.

There are different reporting requirements under FATCA and CRS, depending on whether a company is an Active or a Passive NFE. Understanding the difference between the two company types is crucial for international tax compliance.