To use your Tide Business Account to set up and pay by Direct Debit, you first need to speak to the payee and fill in a Direct Debit Mandate.
This will allow them to automatically collect a payment when it’s due. They’ll send the filled form to ClearBank and start collecting the payment on the agreed date – when the Direct Debit is set up.
If you need to provide the address of your banking provider to the payee, tap: Pay > select your account from stacked accounts > Send > Recurring payments > Direct Debits in the app, and you’ll see it on the screen.
It can take up to 5 business days for a Direct Debit to be scheduled.
All Direct Debit Mandates are verified and submitted by the payee.
If you’ve filled in a Direct Debit Mandate and it hasn’t been set up, please reach out to the payee for further assistance.
When are Direct Debits collected?
Direct Debit payments are usually collected from 3am on the due date - on weekdays, excluding bank holidays. If the due date falls on a weekend or a bank holiday, the payment will be collected on the next business day.
You need to make sure that you have enough money in your Tide Business Account the day before your Direct Debit is due. When you're on hybrid billing, we won't immediately charge you the fee for:
All your Faster Payments
CHAPS you receive
Direct Debits you send
Bankers' Automated Clearing Services (BACS) – that includes Direct Credits – you receive
When confirming the transaction, you’ll see on the transaction screen an icon noting that we'll keep track of these fees all through the month. On the 2nd of the following month, we'll collect them as an aggregated total.
Hybrid billing is now available to some of our new members. If you are billed in-line with each transaction and see the fee appear within the transaction screen, then you're still not on hybrid billing.
Before the first payment, the payee should send you a Direct Debit Advance Notice, to confirm the amount and collection date. After that, you’ll receive a further notification only if there have been changes to the amount, due date or payment frequency.
Can I receive inbound Direct Debit payments?
We don’t offer this option directly at the moment, but you can receive Direct Debit payments in your Tide account if you set this up through a third-party provider in the UK.
