Compare Monese vs Tide to make an informed decision for your financial needs. Whether you're interested in mobile banking, unique features, or specific benefits, this comparison will help you navigate some of the differences between Monese and Tide.
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Monese and Tide are two modern mobile banks geared towards the increasingly digital generation, offering a variety of features designed to make managing daily finances more efficient and user-friendly. However, there are key differences between them.
Monese, a UK-based fintech company launched in 2015, focuses largely on personal banking. It provides users with the flexibility to open a UK or European bank account without the need for a local address or credit history. This is particularly valuable for travellers, expats, and those with poor credit. Monese's standout features include instant real-time information on account transactions, worldwide ATM withdrawals, remittances, budgeting and saving tools, and Google Pay and Apple Pay support. Accounts have three types: Simple, Classic, and Premium. Simple is free with certain usage restrictions, while Classic and Premium offer increased services for a monthly fee.
Tide, on the other hand, is a UK-based mobile-first banking platform launched in 2017, and it primarily caters to small businesses and freelancers. Tide users can open a sort code and account number in minutes, perform accounting functions, and have access to instant invoicing. Unlike Monese, Tide doesn’t have a physical debit card requiring PIN for transactions; instead, it sends a code to the mobile device linked to the account. Tide offers two types of accounts: Free and Plus. The Free account offers basic services, while the Plus account, for a monthly fee, offers additional services like priority in-app support, anniversary rewards, and legal helpline.
In overall comparison, both platforms streamline the banking process, offering cutting-edge fintech features. But Monese is more popular with individuals seeking personal banking solutions, especially for international use. Conversely, Tide is a better fit for small businesses and freelancers who require a mobile banking solution that can seamlessly integrate with their working lives.