Tide and Anna are both mobile banking platforms designed to serve the needs of small and medium-sized enterprises (SMEs), freelancers, and entrepreneurs, but they approach this market with differing emphases and features.
Tide is focused on streamlining business banking by providing a comprehensive suite of tools for financial management. The platform offers quick account setup, integrated invoicing, and expense tracking, features that are particularly beneficial for small businesses looking to simplify their accounting processes. Tide also offers multi-currency accounts, allowing businesses to send and receive payments in various currencies without the usual exorbitant fees. Furthermore, Tide provides multi-user access, a feature that enables multiple team members to manage financial tasks through a single business account. This becomes invaluable for businesses seeking to centralize their financial operations.
On the other hand, Anna—short for "Absolutely No-Nonsense Admin"—likewise aims to simplify business admin tasks but adds a layer of artificial intelligence to automate invoicing and expense management. One unique feature of Anna is its smart invoicing system, which not only creates but also sends invoices and reminders, saving businesses time and effort. In addition to its invoicing prowess, Anna offers a color-coded debit card that categorizes transactions automatically. This is particularly useful for freelancers and entrepreneurs who may not have the time to manually categorize every transaction. Like Tide, Anna also offers multi-user access, but it takes things up a notch by enabling customized permissions for different team members.
Both Tide and Anna offer a mobile-first banking experience that ensures customers can manage their finances on the go. However, where Tide aims for straightforward, practical financial management, Anna brings an element of automation and AI to make the process even more efficient.
In summary, both Tide and Anna offer robust solutions aimed at simplifying business banking and financial administration for SMEs and freelancers. Tide focuses on providing a comprehensive, multi-currency financial management platform, while Anna aims to revolutionize invoicing and expense tracking through artificial intelligence. Your choice between the two would depend on whether you prioritize traditional, yet detailed, financial management (Tide) or are inclined towards a more automated, AI-powered approach (Anna).
A business bank account that's free, easy to open, and helps you start doing what you love. Tide is about doing what you love. That’s why they’re trusted by 500,000+ sole traders, freelancers and limited companies throughout the UK.
Sign up for an ANNA business account and you get a business debit card and all the tools to grow your business, from invoicing and expenses to VAT. Miaow.