Tide vs Wise Business
Tide is UK-first SME banking with a £200 cashback offer. Wise Business is the gold standard for cheap multi-currency and international payments. Different jobs — here's how to choose, last reviewed 12 October 2026.
Daniel Okoye maintains the comparison data behind Business Account Referral. He collects published pricing, transfer allowances, FX charges and account-protection details from provider sources, models the total cost of each plan at realistic transaction volumes, and dates every figure so readers can see when it was last verified.
Reviewed 12 October 2026 · About the team · How we review
| Feature | Tide | Wise Business |
|---|---|---|
| Primary strength | UK SME banking + tooling | Multi-currency, mid-market FX, international |
| Licence type (UK) | ClearBank-issued bank account or Tide e-money | UK e-money (safeguarded) |
| FSCS protection | Eligible on ClearBank-issued bank accounts | Not FSCS — e-money, safeguarded |
| Account fee | Free plan; paid tiers £12.49–£69.99 | £45 one-off opening fee; no monthly fee |
| Held currencies | GBP only | 40+ currencies |
| Local account details | UK only | GBP, EUR, USD, AUD, CAD, NZD, SGD, HUF, RON, TRY |
| FX rate | Markup at volume | Mid-market with transparent fee (typically 0.4%+) |
| Invoicing | Built-in across plans | Built-in, basic |
| Cards | Mastercard debit + Expense Cards on paid | Mastercard debit + virtual cards |
| Accounting integrations | Xero, QuickBooks, FreeAgent | Xero, QuickBooks, FreeAgent, Sage |
| Cash deposits | PayPoint / Post Office | Not supported |
| Sign-up offer | REFER200 — up to £200 cashback | None typically |
The core trade-off
Tide and Wise Business solve different problems. Tide is built for UK SMEs who want a UK business account with invoicing, accounting integrations, expense management and a cashback offer. Wise Business is built for businesses that pay or get paid in multiple currencies — it gives you genuine local account details in nine-plus currencies, holds 40+ currencies natively, and converts at the mid-market rate with a transparent per-conversion fee that's typically the cheapest in the market. They overlap on the basics (a UK account number, a debit card, invoicing) but the design centre of gravity is different.
FSCS and account safety
Wise Business in the UK is e-money. Funds are safeguarded under UK e-money rules — held in segregated accounts at regulated credit institutions, separated from Wise's own operating funds, and protected in the event of Wise's failure. They are not FSCS-protected. Tide can issue you either a ClearBank-issued business bank account (FSCS-eligible up to £120,000) or a Tide e-money account (safeguarded). For very large balances, a ClearBank-issued Tide account or a fully licensed bank is the cleaner answer.
Pricing
Wise Business charges a one-off £45 account opening fee and then no monthly fee — you pay per transaction (typically tiny for GBP, slightly more for FX conversion at a transparent percentage of the amount). Tide is free to open and free on its Free plan (with 20 included UK transfers per month); paid tiers (£12.49–£69.99) add transfer allowances, Expense Cards and enhanced tooling. For a UK-only sole trader, Tide Free is cheaper to start. For a business with significant FX volume, Wise's transparent per-conversion pricing will usually beat anything Tide can offer.
International payments — Wise's home turf
This is what Wise is famous for. You can send money internationally at the mid-market exchange rate (no FX markup), paying only a transparent percentage fee that's almost always the cheapest option for SMEs. You can hold 40+ currencies, receive payments at local account details in GBP, EUR, USD, AUD, CAD, NZD, SGD, HUF, RON and TRY (so US clients can pay you via ACH as if you were a US business, and EUR clients can pay you via SEPA at no cost), and issue debit cards that auto-convert. Tide does international payments via partners but is materially more expensive at volume and holds only GBP natively.
UK SME tooling — Tide's home turf
Tide wins clearly on UK SME ergonomics: integrated company formation (Wise has none), Tide Instant Saver for retained cash, more developed invoicing on paid tiers, Expense Cards for staff with categorisation, and a deeper accountant workflow most UK firms are comfortable with. Wise's invoicing and accounting integrations are functional but the product is centred on payments and FX, not running a UK SME's day-to-day finance ops.
Cash, ATMs and support
Wise Business does not accept cash deposits. Tide accepts cash via PayPoint and Post Office (with fees). Wise's ATM withdrawals are free up to a monthly allowance per currency and then a small fee; Tide charges per UK ATM withdrawal. Both offer in-app support; neither offers 24/7 phone support like Starling.
The sign-up offer
Wise Business does not run a structured sign-up cashback offer. Tide currently runs REFER200 — up to £200 cashback when you complete £100 of card spend in 30 days and deposit £5,000 into Tide Instant Saver for 30 days. For UK-focused businesses where Tide otherwise fits, the cashback is a clean tie-breaker.
Pick Tide if…
You operate mostly in GBP, want UK-first SME tools, value integrated company formation or Expense Cards for staff, or want the £200 REFER200 cashback. Tide is the cleaner default for UK-focused SMEs that don't have significant FX volume.
Pick Wise if…
You handle significant non-GBP revenue or supplier payments, you need genuine local account details in multiple currencies, or you want to hold balances in 40+ currencies at near-interbank FX. Wise is also the cleanest answer for UK contractors paid by US or EU clients.
Run both?
A two-provider setup can be useful where it creates a clear separation between UK operations and currency conversion, but it also creates reconciliation work. Choose it only when that operational separation saves more time or cost than it adds.
Decision checks before you choose
A useful comparison is not a feature checklist alone. Check whether you can apply, whether the included-transfer allowance reflects your normal month, how you take payments, whether you need cash deposits, what happens when you spend or get paid abroad, and whether your accountant needs a particular integration or access level.
- Choose Tide first when: your operating account is mainly GBP and you value UK business administration, invoicing and expense workflows.
- Put Wise Business first when: you need to receive, hold or convert multiple currencies and want to compare live international-payment quotes.
- Do not decide from the promotion alone: REFER200 is a conditional partner offer; account suitability, approval and any reward validation remain Tide’s decisions.
- Final due diligence: Check eligibility, the account-protection model, payment corridors, account-detail availability, cash-deposit needs and accountant integration for both products before applying.
For the market-wide context, see our UK business-account comparison. For Tide’s product details, read the Tide business account guide and the Tide fees guide.
Frequently asked questions
Is Wise Business cheaper than Tide?+
For UK-only banking with low volume, Tide Free is cheaper. For international payments at any meaningful volume, Wise is almost always cheaper thanks to mid-market FX with a transparent per-conversion fee.
Is Wise Business FSCS-protected?+
No. Wise Business in the UK is an e-money account, safeguarded under UK e-money rules but not FSCS-protected. Tide ClearBank-issued business bank accounts are FSCS-eligible.
Can I receive USD or EUR into Wise?+
Yes — Wise gives you genuine local account details in GBP, EUR, USD, AUD, CAD, NZD, SGD, HUF, RON and TRY. US clients can pay you via ACH and EUR clients via SEPA as if you were local.
Does Tide hold multiple currencies?+
No — Tide is GBP-only. For multi-currency, use Wise or Revolut Business alongside Tide.
Does Wise have a sign-up offer like REFER200?+
No structured cashback offer. Tide's REFER200 (up to £200) is the more generous active offer.
Can I use Wise as my primary UK business account?+
Yes — Wise gives you full UK account details and a Mastercard debit card. But for UK invoicing, Instant Saver and the cashback, Tide is the more complete UK SME platform.
Can I run both Tide and Wise Business?+
Yes — and many UK SMEs with any international exposure do. Tide for the UK operational account, Wise for multi-currency and cheap FX.
Which integrates better with accounting software?+
Both integrate with Xero, QuickBooks and FreeAgent. Wise also integrates with Sage. For pure UK accountant workflows, parity.
Can Wise accept cash deposits?+
No — Wise does not currently support cash deposits at all. Tide accepts cash via PayPoint and the Post Office (with fees).
Key facts: Tide vs Wise
- Wise Business is UK e-money (safeguarded, not FSCS); Tide ClearBank-issued accounts are FSCS-eligible up to £120,000.
- Wise holds 40+ currencies with mid-market FX and local account details in 9+ currencies; Tide is GBP-only.
- Tide currently runs REFER200 — up to £200 cashback. Wise has no equivalent active offer.
- Wise charges a £45 one-off opening fee then no monthly fee; Tide is free to open with paid plans optional.
- Last checked: 12 October 2026.
Open Tide with REFER200
Start with Tide’s £0/month plan, payments, invoicing and expense tools—then add REFER200 at sign-up for up to £200 cashback.
Open a modern business account with payments, invoicing and expense tools—then add REFER200 as you apply.
REFER200Offer verified 12 October 2026. Up to £200 cashback for eligible new Tide business-account customers. Tide terms and eligibility apply.
Independent introducer disclosure: this site is not Tide and is not operated by Tide. If you sign up using our link or the code REFER200, we may receive a referral reward. Tide controls account approval, eligibility and cashback validation. This is not financial advice. Always check the latest Tide terms before applying. Last checked 12 October 2026.