Tide vs Mettle for business banking

Updated on 7 August 2023

Choosing the right business banking provider is crucial for the success and efficiency of your company’s financial operations. In the UK, two popular options that have gained significant traction in recent years are Tide vs Mettle.

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Both banks offer innovative digital banking solutions tailored to the needs of small and medium-sized enterprises (SMEs). In this article, we will compare the features, pros and cons, fees and charges, as well as unique standout features of Tide and Mettle, to help you make an informed decision for your business banking needs.

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Tide vs Mettle

Before diving into the specifics of each bank, let’s take a quick look at the key features comparison table below to give you an overview of what both Tide and Mettle have to offer:

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FeaturesTideMettle
Account TypesBusiness CurrentBusiness Current
Mobile AppYesYes
Account IntegrationQuickBooks, XeroQuickBooks, Xero
Invoicing ToolsYesYes
Cash WithdrawalsFee may applyFree at Post Office
Card PaymentsFreeFree
Free TransfersLimitedUnlimited
Customer SupportEmail, PhoneChat, Email
Card ControlYesYes
Tide vs Mettle

Revolut Business
✓ Business Current Account
✓ Award-Winning Mobile App
✓ Quick & Easy Application Process
Pricing Trial period Contact

Tide Business Bank Accounts
✓ Free, Plus, or Pro Account
✓ iOS & Android Mobile App
✓ Upload & Auto-Match Receipts
Pricing Trial period Contact

Card One Money
✓ No Credit Checks
✓ Simple Fees
✓ Up To 3.5% Cashback
Pricing Trial period Contact

ANNA Money
✓ Apply In 10 Minutes
✓ Bookkeeping & Payroll Tools
✓ User-Friendly Mobile App
Pricing Trial period Contact

HSBC Business Banking
✓ Business Current Account
✓ In-Branch, Online & App Banking
✓ FSCS Protected
Pricing Trial period Contact

Metro Business Banking
✓ Business Current Account
✓ High Street Presence
✓ FSCS Protected
Pricing Trial period Contact

Mettle Business Banking
✓ Business Bank Account
✓ Online & App
✓ Quick & Easy Application Process
Pricing Trial period Contact

Monzo Business Banking
✓ Business Current Account
✓ Dedicated mobile app experience
✓ FSCS Protected
Pricing Trial period Contact

Virgin Money
✓ Business M Account
✓ In-Store, Online & App Banking
✓ Insights & Forecasting Platform
Pricing Trial period Contact

Tide

Tide is an established digital business banking provider in the UK, catering to the needs of SMEs. It offers a range of features designed to streamline financial processes, from account management to invoicing tools. Tide places a strong emphasis on simplicity and speed, allowing business owners to focus on their core operations.

Pros

  • User-friendly and intuitive mobile app.
  • Seamless integration with popular accounting software such as QuickBooks and Xero.
  • Efficient invoicing tools to simplify payment processes.
  • Easy-to-use card control for added security.

Cons

  • Limited free transfers compared to some other providers.
  • Some cash withdrawals may incur fees.

Table of fees and charges

Fee TypeAmount
Monthly Account Fee£9.99
Cash Withdrawal Fee£1 (per withdrawal)
Card Payment FeeFree
International Payment Fee£0.50 (per payment)
Foreign Currency Transfer Fee£5 (per transfer)
Tide fees and charges

Unique and standout features

  • Quick and easy account setup with minimal documentation required.
  • Real-time notifications and instant transaction updates.
  • Integration with accounting software for seamless financial management.

Mettle

Mettle, a digital banking offering from NatWest, is designed specifically for freelancers, sole traders, and small businesses. It provides an all-in-one solution that combines banking with accounting software integrations to simplify financial management. Mettle offers a modern and intuitive platform that helps business owners stay on top of their finances.

Pros

  • Free cash withdrawals at Post Office branches across the UK.
  • Seamless integration with popular accounting software like QuickBooks and Xero.
  • No fees for card payments or transfers.
  • Prompt and responsive customer support via chat and email.

Cons

  • Limited customer support options compared to some other providers.
  • Account features may be more suited to freelancers and sole traders.

Table of fees and charges

Fee TypeAmount
Monthly Account FeeFree
Cash Withdrawal FeeFree (at Post Office)
Card Payment FeeFree
International Payment FeeFree
Mettle fees and charges

Unique and standout features

  • Seamless integration with popular accounting software for easy financial management.
  • Customisable tags and categories for transactions to simplify bookkeeping.
  • Real-time spending insights and financial analysis to track business performance.
  • Built-in invoice creation and payment tracking tools.

Conclusion – Tide vs Mettle

When it comes to choosing between Tide vs Mettle for your business banking needs, it’s essential to consider your specific requirements and priorities. Both banks offer innovative digital solutions, user-friendly interfaces, and integration with popular accounting software.

Tide stands out for its emphasis on simplicity, a wide range of features, and robust card control options. However, it does have some limitations with regard to free transfers and potential fees for cash withdrawals.

On the other hand, Mettle impresses with its seamless integration with accounting software, free cash withdrawals at Post Office branches, and no fees for card payments or transfers. However, it may be more suited to freelancers and sole traders, and its customer support options are more limited.

Ultimately, the right choice between Tide and Mettle will depend on the specific needs and preferences of your business. It’s advisable to consider factors such as transaction volume, account management requirements, accounting software compatibility, and customer support preferences.

FAQ

Are Tide and Mettle traditional banks?

No, both Tide and Mettle are digital banking providers offering services tailored to the needs of businesses, freelancers, and sole traders. They do not have physical branch locations.

Can I integrate Tide and Mettle with my accounting software?

Yes, both Tide and Mettle offer seamless integration with popular accounting software such as QuickBooks and Xero, making it easier to manage your finances.

Are there any limitations on free transfers with Tide?

Yes, Tide has limitations on the number of free transfers available. Additional transfers may incur fees.

Can I withdraw cash for free with Mettle?

Yes, Mettle allows free cash withdrawals at Post Office branches across the UK.

What customer support options are available with Tide and Mettle?

Tide offers customer support via email and phone, while Mettle provides support through chat and email.

Disclaimer: The information provided in this article is based on research and available data as of the time of writing. Fees, features, and terms may be subject to change. It is advisable to visit the official websites of Tide and Mettle for the most up-to-date information before making a decision.

Reviewed by , Managing Director

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