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Coconut Reviews

Ratings based on 198 reviews Last review 6 months ago
4.89 / 5Amazing overall rating

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.

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Your Coconut Reviews (198)

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10th July 2019

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...

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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.

Chris's avatarChrisLevel 1
(1)
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29th January 2019

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...

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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!

Niki Ridge's avatarNiki RidgeLevel 1
(0)
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18th January 2019

... 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...

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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!

Mark's avatarMarkLevel 1
(0)
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14th January 2019

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...

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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.

Junior Bozilo's avatarJunior BoziloLevel 1
(0)
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12th January 2019

Customer service second to none

Running a small company having an intuitive account that takes a lot of the guess work out is a real plus, and the selling point to me. Xero doesn't recognise it but no problem, just upload statements in one of three file formats and job done....

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Running a small company having an intuitive account that takes a lot of the guess work out is a real plus, and the selling point to me. Xero doesn't recognise it but no problem, just upload statements in one of three file formats and job done. Fantastic business bank account

Darren K Vidler's avatarDarren K VidlerLevel 1
(0)
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12th January 2019

Great to have money in and out in one place

It's just great to have invoicing, payment and expense handling all in the same product, going through the same bank account. The stress reduction alone makes it 10/10. The Coconut team are great at responding to queries too - in the app and via the...

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It's just great to have invoicing, payment and expense handling all in the same product, going through the same bank account. The stress reduction alone makes it 10/10. The Coconut team are great at responding to queries too - in the app and via the Facebook group.
For full disclosure, I'm an investor too but that just strengthens how I feel about Coconut even more.

Matthew Stafford's avatarMatthew StaffordLevel 1
(0)
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12th January 2019

Coconut: Your bank account, accountant & tax management simply in one single app!

SME struggle with banks overcharging, under-accessed accountants high costs and tax calculations struggles....

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SME struggle with banks overcharging, under-accessed accountants high costs and tax calculations struggles.
What if you could focus on your job, while one single app will automatically take care of banking, invoicing, cash flow management, accounting and taxation?
A magic? No, just Coconut "a bank and an accountant in a Coco-nut-shell".

Michael F's avatarMichael FLevel 1
(0)