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Tap Personal vs Business Accounts: which one is right for you?

Personal or Business? What each Tap account gives you, and the point where a side hustle really needs its own set of books.

A
Ash
Dec 4, 20243 min read
Tap Personal vs Business Accounts: which one is right for you?

In today's global economy, managing your finances across borders has never been more important. With this in mind, we’ve created innovative solutions for both personal and business users with the Tap Personal Account and Tap Business Account.

While both accounts share some core features, they each cater to specific needs. Let's dive into the details to help you choose the right account for your financial journey.

Shared features: the Tap advantage

Both Tap Personal and Tap Business accounts offer a range of powerful features designed to simplify your financial life:

  • Multi-currency capabilities: Hold, send, and receive money in multiple currencies.
  • Competitive exchange rates: Enjoy favourable rates when converting between currencies.
  • Low-fee international transfers: Send money abroad without breaking the bank.
  • Tap card: A versatile debit card for spending in multiple currencies worldwide.
  • User-friendly mobile app: Manage your finances on the go with ease.
  • Cashback rewards: earn up to 8% Cashback on any card or online transactions.
  • Money management on the go: Get real-time notifications on transactions and monthly statements.

Tap Personal Account: personal finance, globalised

The Tap Personal Account is perfect for individuals who:

  • Live, work, or travel internationally
  • Need to send money to family or friends abroad
  • Want to shop online in different currencies
  • Seek a hassle-free way to manage personal finances across borders
  • Are savvy investors looking to manage multiple currencies in one secure location

Key features of the Tap Personal Account include:

  1. Easy account opening: Get started quickly with a simple online process.
  2. Free local account details: Receive payments like a local in multiple countries.
  3. Instant transfers: Send money to other Tap users in seconds, for free.

Tap Business Account: powering global commerce

The Tap Business Account is tailored for:

  • Small to medium-sized businesses
  • Companies with international operations
  • Startups looking to scale globally

In addition to the features shared with the Tap Personal Account, the Tap Business Account offers:

  1. Multi-currency access: Easily set up checkout payment channels for multiple currencies with access to local and international payment rails.
  2. Payment links: Get an individual IBAN and receive and send payments in EUR and GBP with SEPA Instant
  3. White card labelling service: Create customisable cards for your business or clients using the integrated service.
  4. Cheaper payroll payments: Avoid bank fees when making multiple payments efficiently, perfect for paying salaries or multiple suppliers.
  5. Access to an account manager: each company is assigned a dedicated account manager.

Making the right choice

Choosing between a Tap Personal Account and a Tap Business Account depends on your specific needs:

  • For businesses of any size aiming to streamline their global financial operations, a business account offers the advanced features you need to thrive in the international marketplace.
  • If you're an individual looking to simplify your personal international finances, a personal account is your go-to solution.

Both accounts reflect Tap's commitment to providing innovative, user-friendly financial solutions for our increasingly connected world. Whether you're planning your next international adventure or expanding your business across borders, Tap has you covered.

Ready to take control of your global finances? Visit withtap.com to learn more and download the app, and sign up for the account that best suits your needs.

Disclaimer

This article is for general information purposes only and is not intended to constitute legal, financial or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article or any content referred to by hyperlinks (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.

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