Is Tide or Bank of Scotland better for your small business?
Below we look at both Tide and Bank of Scotland reviews on Trustpilot along with their App reviews from Apple and Google.
We then look at typical fees, business savings rates, foreign currency options and a whole bunch of other account features to help you make up your mind.
Tide vs Bank of Scotland Trustpilot Reviews
| Tide | Bank of Scotland | |
| Trustpilot Review Score (out of 5) | 4.2 | 1.6 |
| Percent 5-Star Reviews | 73% | 12% |
| Percent 1- Star Reviews | 17% | 80% |
| Total Number of Reviews | 18,595 | 649 |
https://www.trustpilot.com/review/tide.co
https://www.trustpilot.com/review/www.bankofscotland.co.uk
Tide vs Bank of Scotland App Reviews
| Tide | Bank of Scotland | |
| iPhone Review Score (out of 5) | 4.7 | 4.8 |
| Number of iPhone Reviews | 64,800 | 269,400 |
| Android Review Score (out of 5) | 3.5 | 4.5 |
| Number of Android Reviews | 16,200 | 44,100 |
https://apps.apple.com/gb/app/tide-business-banking-app/id1140086177
https://apps.apple.com/gb/app/bank-of-scotland-mobile-bank/id485728109
Tide vs Bank of Scotland Account Fees & Charges
| Tide | Bank of Scotland | |
| Free Business Bank Account | Yes | Yes |
| Free Business Account Term Length | No Limit | 12 Months |
| Cheapest Monthly Account Fee | £9.99 | £8.50 |
| Most Expensive Monthly Account Fee | £49.99 | £8.50 |
| Electronic Payment Cost (in/out) | Free | Free / 20p |
| Cash Payments Cost (in/out) | £1 | £85p / £1.50 per £100 |
| Cheques (in/out) | Free | 85p per cheque |
| CHAPS Payments Cost | No | £30 |
| SEPA Payments Cost | €0.70 | £5 |
Tide vs Bank of Scotland Business Savings Rates
| Tide | Bank of Scotland | |
| Types of Business Savings Accounts | Business savings account | Fixed Term Deposit, Notice Accounts, Instant Access Account |
| Lowest Savings Rate (AER) | 3.55% | 1.31% |
| Maximum Savings Rate (AER) | 3.55% | 4.37% |
| Minimum Savings Amount | £1 | £1 |
| Interest Paid On Foreign Currencies | Yes | Yes |
Tide vs Bank of Scotland Account Opening Times
| Tide | Bank of Scotland | |
| Can You Apply Online? | Yes | Yes |
| How Long Does Opening An Account Typically Take? | 10 to 2880 minutes | 7 Working days |
| Do They Check Your Credit? | Yes | Yes |
| Current Account Switch Service | Yes | Yes |
Tide vs Bank of Scotland Features & Account Types
| Tide | Bank of Scotland | |
| Business Current Account | Yes | Yes |
| Business Savings Account | Yes | Yes |
| Business Credit Card | No | Yes |
| Business Overdraft | No | Yes |
| Accounts For Startups | Yes | Yes |
| Accounts For Charities | No | Yes |
| Accounts For Sole Traders | Yes | Yes |
| Joint Business Accounts Available | No | Yes |
| Card Type | Mastercard | Visa |
| Online Banking | Yes | Yes |
| Mobile Banking | Yes | Yes |
| In Person/Branch Banking | No | Yes |
| Branch Locations | None, online only | Scotland only |
Tide vs Bank of Scotland Customer Support Options
| Tide | Bank of Scotland | |
| Phone Support Available | Yes | Yes |
| Email Support Available | Yes | Yes |
| App Based Support | Yes | Yes |
| Web Based Support | Yes | Yes |
| In person Customer Support | No | Yes |
Tide vs Bank of Scotland Foreign Currency Accounts
| Tide | Bank of Scotland | |
| US Dollar (USD) Bank Accounts | No | Yes |
| Euro (EUR) Bank Accounts | No | Yes |
| Other Currencies Available: | No |
|
Other Business Services From Tide and Bank of Scotland
| Tide | Bank of Scotland | |
| Business Loans | Yes | Yes |
| Commercial Mortgages | No | Yes |
| Invoice Financing | Yes | Yes |
| International Payments | Yes | Yes |
| Merchant Payment Services | No | Yes |
| Card Machines | Yes | Yes |
| Free Accounting Software | Yes | Yes |
Tide vs Bank of Scotland Banking Basics
| Tide | Bank of Scotland | |
| Bank Type | Challenger | High Street |
| FSCS Protection | Yes, up to £85,000 via ClearBank | Yes, up to £85,000 |
| FCA Number | 754568 | 169628 |
| Website | Tide Website | Bank of Scotland Website |
Common Comparison Questions
Does Tide or Bank of Scotland have better customer reviews?
Tide scores 4.2 out of 5 based 18,595 Trustpilot reviews. Of these reviews 73% are 5-star and 17% are 1-star.
Whereas, Bank of Scotland scores 1.6 out of 5 based 649 Trustpilot reviews. Of which 12% are 5-star and 80% are 1-star.
Does Tide or Bank of Scotland have a better App?
Tide’s iPhone App is rated 4.7 out of 5 based on 64,800 reviews. And it’s Android App is rated 3.5 out of 5 based on 16,200 reviews.
In comparison, Bank of Scotland’s iPhone App is rated 4.8 out of 5 based on 269,400 reviews. And it’s Android App is rated 4.5 out of 5 based on 44,100 reviews.
Does Tide or Bank of Scotland have better business savings rates?
Tide offers the following types of business savings accounts: Business savings account with interest rates ranging from 3.55% to 3.55%. (AER)
In contrast, Bank of Scotland offers Fixed Term Deposit, Notice Accounts, Instant Access Account accounts with interest rates ranging from 1.31% to 4.37% (AER).
See Other Comparisons:Tide vs Metro Bank
Tide vs TSB
Tide vs Starling Bank
Tide vs Shawbrook Bank
Tide vs RBS (Royal Bank of Scotland)
For other business bank accounts see our guide here.