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Coconut: Business Bank Account reviews

Name: Business Bank Account
Rating: 4.86 (209 reviews)

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4.85

Based on 209 reviews, last reviewed 15th Feb 2023

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

93%

3 star

Latest highest rating:

5

No longer s bank account but great for accounting The best customer service experience, fast, friendly and knowledgeable Reviewed on: 15th February 2023

Latest lowest rating:

1

Coconut refused to pay for their mistake! Coconut failed to close my account for months which means my money was "frozen" there as they restricted my access. They even charged me transaction f... Read more Reviewed on: 10th September 2021

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About this product

Want to read reviews of the new “bank account for freelancers” Coconut? See what other freelancers have said on Smart Money People - whether it was the usefulness of the app, the availability of funds, or anything else to do with day-to-day use of Coconut. Already used this this innovative account? Share a review on Smart Money People to help other freelancers!

Coconut Business Bank Account reviews (209)

Review of the Coconut, 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

No longer s bank account but great for accounting

The best customer service experience, fast, friendly and knowledgeable Reviewed on: 15th February 2023

Great app for self assessments.

Great service all round, making tax easy to understand, doesn't cost a fortune and really easy to use. Reviewed on: 7th February 2023

Coconut refused to pay for their mistake!

Coconut failed to close my account for months which means my money was "frozen" there as they restricted my access. They even charged me transaction fee without my consent after my account "closure". Despite they promised a refund of the transaction fee which is a small amount indeed, it did NOT happened (up to this minute) like my account closure application. Their unreliable banking service has created misunderstandings and damaged relationships with my customers because my customers think I am unreasonably chasing for money. After several back and forth with their customer service team, they politely sent me apologetic emails (for me these emails are nothing more than those useless emojis on social medai) but refused to pay for their mistake. I will say they only want your money even they made mistakes. Reviewed on: 10th September 2021

Great Company

This is an amazing company with a great App Reviewed on: 18th January 2021

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 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

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

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

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

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

Simply brilliant

Helpful from start to finish. Nothing to worry about any of the time. Reviewed on: 2nd January 2020

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