TIDE BANK feed configuration for GBP/EUR account

For reasons unknown QF automatically adds a credit in GBP (presumably using an exchange rate sourced from XE.COM) when payments are made into our TIDE EUR account. Since (a) the exchange rates used by TIDE and XE are different plus (b) no transfer from the EUR to GBP account has been actioned, it is necessary to delete the GBP credit created by QF in order to correct the GBP balance. After creating a separate EUR account in QF, it does not seem possible to connect QF using the existing bank feed. Specifically, after clicking the ‘Active Feed’ link for the QF bank account ‘COMPANY NAME (EUR)’, then selecting ‘COMPANY NAME’ in the ‘COMPANY’ drop-down menu, the error message “No EUR accounts found on Tide” is displayed. If an additional bank feed is required for the EUR account, how can this be set up as QF does not provide an option to enter an IBAN and nor does TIDE BANK provide a sort code and account number for the EUR account as it’s outside UK?

Hi @Mark_Wyllie

I’m just waiting for a developer to come back to me regarding the non-GBP transaction so I can give you the correct information.

Regarding the account number and sort code, these can be left blank. They’re not actually used for bank feeds - it’s more of a reference for yourself more than anything.

@Mark_Wyllie - Can I just double-check that I’m looking at the right thing here?

Am I right in thinking you have an account with Tide that isn’t GBP, and QuickFile is converting the values to GBP?

We have one ‘primary’ GBP account with TIDE to which a ‘secondary’ EUR account is associated. When EUR are credited into the EUR account, QF (or possibly TIDE’s bank feed) is exchanging the EUR into GBP at an arbitrary exchange rate although no EUR to GBP inter-account transfer has taken place.

If relation to leaving the account number and sort code blank when setting up the EUR account, and if it becomes necessary to set up an additional feed, where can the IBAN be added so the feed connects to the correct bank account?

Hi @Mark_Wyllie

Is this done within the Tide app directly? In other words - if you open your Tide app, does it show as a separate account, or is it part of the GBP account?

The IBAN doesn’t affect the bank feed in anyway. This is used just for your reference.

Q: Is this done within the Tide app directly? In other words - if you open your Tide app, does it show as a separate account, or is it part of the GBP account?

A: The home/landing page of the TIDE app for our company/business bank account shows both the “TIDE CURRENT ACCOUNT” (GBP) plus the EUR ACCOUNT (EUR). Clicking either the UK or EUR flag opens details for the respective account.

If, as you say, “”the IBAN doesn’t affect the bank feed in anyway” how can the EUR transactions be pulled into the QF EUR account?

I’m going to send you a private message on this one, only because we’ve clarified this with Tide who has informed us EUR accounts aren’t something they offer. I’m just trying to understand the exact situation here so we can advise on how to approach this in the best way possible.

When you link the feed from your bank to QuickFile, you would specifically select which account you’d want to link. There are no account numbers involved in this process.

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