Coconut Reviews

  Ratings based on 206 reviews       Last review 3 days ago    

Coconut is the first current account in the UK to automate the tax return for self-employed people and small business owners. Their current account and mobile app is designed to take care of your accounting and tax. Coconut automatically tells...

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Coconut is the first current account in the UK to automate the tax return for self-employed people and small business owners. Their current account and mobile app is designed to take care of your accounting and tax. Coconut automatically tells customers which transactions are tax deductible, provides guidance about the tax rules, forecasts your tax bill and fills out your tax return automatically. They’re on a mission to free millions of people worldwide from business admin by combining everything you need to run a business in one simple product. Smart Money People is the place for Coconut banking reviews. Please leave your feedback below to help others find out more about this company.

Overall Rating

Amazing

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Coconut Review Insight

What are people saying in their reviews?

Ease

52% of feedback is Process related

Customer profile

Top Age Profile: 25-34

Top Channel Preference: App

Coconut Products 206

Business Bank Account

Best of the best

Amazing from day one. Always there to help. Love how easy the app is. No problems at all. Even happy to invest in the company. Love their events and webinars. Good people. Wouldn't have my business accounts with anyone else.

Reviewed on 19th January 2021
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WLH
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Business Bank Account

Great Company

This is an amazing company with a great App

Reviewed on 18th January 2021
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Brian
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Business Bank Account

Closed account with no reason.

I have been a customer of Coconut since March 2018 and they have provided a good service. This week they have decided to close my account and give no reason, and tell me that the monies in the account will be help for up to 45 days. I need the money... Read more

I have been a customer of Coconut since March 2018 and they have provided a good service. This week they have decided to close my account and give no reason, and tell me that the monies in the account will be help for up to 45 days. I need the money to run my business. They have effectively shut me down in one day. I've raised complaints to the FCA and the Financial Ombudsman, and emailed PPS (their banking partner). I understand as an intermediary to PPS, Coconut have less hands on when PPS tell them to a close an account, but 45 days creates extreme hardship! I wouldn't move to Coconut - i'd stay clear if you were looking for a Fintech bank. I'd go to Starling, or Monzo - or better still - stick with the high street.

Reviewed on 19th September 2020
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Daniel
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Business Bank Account

At my hart

Since day one they strive to grow and to offer grate futures , open banking it’s one of the latest implementation I’m proud to be a customer off

Reviewed on 6th February 2020
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Adrian
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Business Bank Account

Current account, bookkeeper and tax advisor in 1 app

Seamless, safe and fulfilling experience. One doesn't need to have separate services for baking, bookkeeping and tax consulting anymore: coconut fulfill all your needs.

Reviewed on 27th January 2020
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michaelforni
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Business Bank Account

Accounting and bookkeeping of the future

Saves a tremendous amount of time and cost with a fantastic and supportive community of users, with hands on management

Reviewed on 27th January 2020
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Roy
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Business Bank Account

Coconut makes your life as an entrepreneur much easier

Coconut is constanly surprising us with new features. It has been using Open Banking's potential fully, integrating their new technology and approach to accounting broadly.

Reviewed on 15th January 2020
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Leandro Carvalho
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Business Bank Account

Simply brilliant

Helpful from start to finish. Nothing to worry about any of the time.

Reviewed on 2nd January 2020
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Leonard
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Business Bank Account

New start up business and new customer to Coconut

i have started a new business and opened an account with coconut. I had my first invoice paid in and the next morning my account was frozen due to money laundering/fraud checks. As a new business all of my business funds was paid in which subsequently... Read more

i have started a new business and opened an account with coconut. I had my first invoice paid in and the next morning my account was frozen due to money laundering/fraud checks. As a new business all of my business funds was paid in which subsequently means I now cannot run my business and work with my clients. I have forwarded the invoice and still my account is frozen.
This is a completely poor service as anti money laundering/fraud checks should be carried out prior to opening any new accounts?!
Coconut have now jeopardised my business and my relationship with my new clients.
I would not recommend opening an account with this organisation and I have learnt the hard way.
Stick to major high street banks for peace of mind and level of professional service as I will be doing in future.

Reviewed on 10th July 2019
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Chris
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Business Bank Account

Avoid or lose your money!

This bank is a scam! Blocked your account with your money inside and ignores your messages !

Reviewed on 30th April 2019
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Ahmed Khan
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Business Bank Account

Accounts & Finance Made Easy

Coconut and their service made running my business so much easier. The service is intuitive and simple; I can't see me using any other account in the future.

Reviewed on 31st January 2019
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BathgateBairn84
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Business Bank Account

Incredible team with an incredible app - tax made easy

I've loved being an early user of Coconut - the service and connectivity with their people is amazing - from super responsive in app chat, to hosted events in their offices. The app itself is superb, providing all the functionality that a freelancer... Read more

I've loved being an early user of Coconut - the service and connectivity with their people is amazing - from super responsive in app chat, to hosted events in their offices. The app itself is superb, providing all the functionality that a freelancer needs to manage their financial and tax affairs. Sharing their roadmap and welcoming suggestions in feedback just rounds off the great experience of being a Coconutter!

Reviewed on 29th January 2019
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Niki Ridge
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Business Bank Account

Fantastic Concept

Great idea and App. Huge opportunity to assist with business finances.

Reviewed on 19th January 2019
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Joerg Bauerle
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Business Bank Account

... No more tax woes!

Having a tough time working out what this tax kerfuffle is? Coconut is hooking you up with a solid product that combines business banking and account management with a good transaction history and invoicing built in! It even works out how much tax I... Read more

Having a tough time working out what this tax kerfuffle is? Coconut is hooking you up with a solid product that combines business banking and account management with a good transaction history and invoicing built in! It even works out how much tax I have to pay on the fly so no more playing the guessing game!

Reviewed on 18th January 2019
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Mark
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Business Bank Account

Very useful current account!

Simple to use and very useful. Reasonable pricing and a perfect tool for those who are self-employed. Get rid of that tax headache. Let Coconut do the jo!

Reviewed on 18th January 2019
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Bryn H
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Business Bank Account

Great app covering a huge business need

Coconut covers a big need for UK businesses

Reviewed on 18th January 2019
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Ker
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Business Bank Account

Soon to be perfect.

Perfect bank and mobile app for sole traders. Only missing a few things like invoicing and monthly income/expenses but they are working on it, so good enough.

Reviewed on 15th January 2019
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Eva R. Martin
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Business Bank Account

Best ever

With coconut I’m so happy cause every time I used my card I got flashback on my phone to tell me how much I have used . I went to Belgium and then I used my coconut contactless with no problem, also when I got paid , the money doesn’t take so long to s... Read more

With coconut I’m so happy cause every time I used my card I got flashback on my phone to tell me how much I have used . I went to Belgium and then I used my coconut contactless with no problem, also when I got paid , the money doesn’t take so long to show on my account which is coconut is the best and I won’t hésites to recommande all my friends.

Reviewed on 14th January 2019
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Junior Bozilo
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Business Bank Account

Great new bank

Innovative, helpful, friendly, personal. Amazing new bank account for creatives of the 21st century!

Reviewed on 13th January 2019
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Anna Louise Cox
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Business Bank Account

Easy to deal

The coconut bank is easy to deal and keep up your spend organize helping on when you need to do your tax rerun

Reviewed on 13th January 2019
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Carina
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