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.
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.
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:
Cutting edge payroll software
- Powerful and easy to use
- HMRC & RTI compliant
- Used by payroll pros
The CRM platform to grow your business
- Great for entrepreneurs
- Powerful data analytics
- Manage sales and data
Powerful web builder and advanced business tools
- Great for startups
- Powerful web page builder
- E-commerce available
Supercharged content planning
- Great for marketing
- Better than lists or sheets
- Manage social media
Create a new website in 10 minutes. Easy.
- Launch your website fast
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- No coding skills needed
| Features | Tide | Mettle |
|---|---|---|
| Account Types | Business Current | Business Current |
| Mobile App | Yes | Yes |
| Account Integration | QuickBooks, Xero | QuickBooks, Xero |
| Invoicing Tools | Yes | Yes |
| Cash Withdrawals | Fee may apply | Free at Post Office |
| Card Payments | Free | Free |
| Free Transfers | Limited | Unlimited |
| Customer Support | Email, Phone | Chat, Email |
| Card Control | Yes | Yes |
 | 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 Type | Amount |
|---|---|
| Monthly Account Fee | £9.99 |
| Cash Withdrawal Fee | £1 (per withdrawal) |
| Card Payment Fee | Free |
| International Payment Fee | £0.50 (per payment) |
| Foreign Currency Transfer Fee | £5 (per transfer) |
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 Type | Amount |
|---|---|
| Monthly Account Fee | Free |
| Cash Withdrawal Fee | Free (at Post Office) |
| Card Payment Fee | Free |
| International Payment Fee | Free |
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
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.
Yes, both Tide and Mettle offer seamless integration with popular accounting software such as QuickBooks and Xero, making it easier to manage your finances.
Yes, Tide has limitations on the number of free transfers available. Additional transfers may incur fees.
Yes, Mettle allows free cash withdrawals at Post Office branches across the UK.
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.