Excellent simple to use app for MTD digital. Best bit is the absolutely fabulous support. I'm not tech savvy but Jeremy from the Coconut support team has been there at every hurdle swiftly offering cl... See more
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Coconut’s bank integration used to work fine, but now it’s completely broken for me. I reached out to support and only got a vague responses after chasing it up several times saying they’re aware of a... See more
Company replied
As a sole trader I’ve used many accounting softwares in the past & coconut is by far the best, most straightforward & reliable. Being able to attach my receipts, so not having to keep the paper copy... See more
Company replied
While I like the app and it is useful, I’m giving 2 stars because now I have to open yet another bank account to link since they are dumping their integrated accounts. Dealing with 2 apps, two set... See more
Company replied
Company details
- #15 of 19 best companies in Accounting Software Company
Written by the company
Coconut is simple accounting & tax software for self-employed people and accountants. Our mobile-first tax app helps self-employed people track income, send invoices, categorise expenses, and work out how much tax they owe in real-time. And through the Coconut Portal, accountants and bookkeepers can get instant access to all of their clients’ real-time accounting information, whenever they need it—making it easy to prepare their sole traders for Making Tax Digital for Income Tax, spend less time chasing paperwork, and uncover major opportunities for revenue growth.
Contact info
London, United Kingdom
- hello@getcoconut.com
- getcoconut.com
4.1
Great
776 reviews
Asks customers to review
This company invites their customers to review, whether positive or negative
Replied to 100% of negative reviews
Typically replies within 1 week
How this company uses Trustpilot
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Amazing banking they have helped us…
Amazing banking they have helped us with so much transactions are always quick and if you need help or advise they are there within minutes to help you with any issues. We would recommend company
19 July 2022
Unprompted review
Reply from Coconut
Hey Colin, thanks for taking the time to leave us such a lovely review! 🤗 It’s important to remember that while we are closing our current accounts, we are not closing Coconut. We will still aim to make these strides in order to make tax easier for you and your friends— we know we can be the best accounting and tax app for self-employed people and accountants, which will be especially important when quarterly tax returns become mandatory in 2024. Shout if we can help you with anything.
Used to be great ....
When I first used started using coconut a few years ago, as a sole trader it was the perfect app for keeping business transactions separate from personal and the additional bookkeeping and invoicing functionality made things a breeze. However, as with a lot of start-ups I think they got distracted with success and of course the prices started to shoot up despite raising a tonne of investment capital (twice).
For me, I started to lose confidence when a fairly large payment from my biggest client just disappeared! I contacted coconut and on two separate occasions, their support team confirmed that NO payments had been received on the date it should have hit the account. This got very embarrassing for me to keep contacting my client to get them to investigate their side, which they did, and eventually provided full transaction details - they even paid me again to ensure I wasn't out of pocket. Some months later the payment finally turned up and coconut claimed it had been there all the time (not the case). All they offered for the inconvenience was two months waiver of subscription fee.
The last nail really was then the closing of the current account. Like many others this has caused a great headache having to research and find another provider, inform client etc. The app did have some great functionality and I really liked it but for me, having everything in one place is key to simplifying business transactions and accounting.
Sadly it seems their original mission of making things easier for the self employed seems to have fallen to the wayside and their objective now seems to be aimed at onboarding accountants and jumping in bed with HMRC.
12 July 2022
Unprompted review
Reply from Coconut
Hi there, I’m sorry to read you’ve had a negative experience.
We decided to stop offering banking services so that we could focus on our simple accounting and tax software. It was a tough decision to stop this service as a lot of people used it, but ultimately the right thing to do so we could move much faster to build innovative accounting and tax tools that customers and accountants are requesting.
We believe there are better banking options than us—ones that provide more advanced services and features than we do. But you can connect the bank accounts to Coconut like you can with other accounting software. If you would like some guidance on switching your current account or connecting it to Coconut our team is always available via the in-app chat if you need any further assistance.
In relation to missing payments, these are really tricky to handle and it looks like the support you received wasn’t up to scratch. This won’t be an issue going forward as stopping banking services means we no longer process payments. But we’d like to learn from situations where the support isn’t good enough. If you could provide any more information in a private message so we can identify what went wrong, this would help us to do this - we’ve requested more info through Trustpilot or you can message through the app or email.
If you have any specific issues or questions our support team is always on hand. And we’re keen to hear where the service hasn’t been good enough so we can continually improve. I’m sorry that we didn’t get it right this time.
I've recently returned to being self…
I've recently returned to being self employed and this service has been so helpful! I don't know how I managed without it before!
12 July 2022
Unprompted review
Reply from Coconut
Hi Lisa, thanks for taking the time to leave us such a lovely review! We're glad to hear everything is working well for you. 💪
Perfect companion for a sole trader
Been using Coconut for a couple of years now (even back when it was free!) But what can I say, well impressed with it, always have been. Being a solo painter decorator, it’s been perfect to keep track of outgoings and business transactions. The few quid a month is well worth it. Been great to see Coconut evolve and improve over time with new features being added and bugs in the app being fixed. Sure it’ll keep getting better. I got a couple ideas of things I think would make it better. But yea, its helped massively take the stress out of keeping my own books. Super nice UI, easy to understand, easy to link accounts and categorise different things, add photo receipts to the transactions. And one thing since day one I’ve absolutely loved, is the customer service. And that’s always a big one for me and any service I use. The live chat function and the punctuality of the team getting back to me over a query or problem has been first class! Can’t fault it. So yea, as things are going digital now with a lot of tax stuff, I’d totally recommend Coconut. I haven’t tried other companies to be fair, but I know Coconut is geared toward us sole traders and small businesses and it shows. I feel I’d get lost with the other companies that cater for broader audiences and business types.
11 July 2022
Unprompted review
Reply from Coconut
Fantastic! 🎉 Thank you for the great feedback, Josh. We love hearing about positive experiences like this and the team are thrilled with your comments! As you know, we're here if you need anything.
Closing account has caused issues
Closing account has caused issues. Just pay the extra and get Xero
7 July 2022
Unprompted review
Reply from Coconut
Hi James, I'm sorry to hear you've had a negative experience. Unfortunately, we’re unable to find your profile with the current information you provided. I've reached out in private so we can find out what happened here.
Please also feel free to reach out to us in-app or by emailing support@getoconut.com so the team can help you.
Best for accounting
I’ve tried a bunch of different apps for accounting but none have been as good as Coconut. Super user friendly.
28 June 2022
Unprompted review
Reply from Coconut
Hey Kyle, thank you for the awesome feedback! 😍 We're happy to hear you’re enjoying Coconut so far. We’re here if you need help with anything.
Definitely Get Coconut
Definitely Get Coconut. Saves a lot of headache to keep all my receipts together rather than having them loose in my car.
28 June 2022
Unprompted review
Reply from Coconut
Hey Buckley, Love to hear that Coconut is helping you stay organised! 💪 Shout if we can help you with anything.
Great app
Great app, makes managing my expenses super easy and convenient
28 June 2022
Unprompted review
Reply from Coconut
Hey Lewis, thank you for your review! 😃 As always, we’re here if you need help with anything.
The complete system for my freelance…
The complete system for my freelance work. Recently got rid of bank functionality but linking to other bank accounts is easy and probably (and suprisingly) more convenient for me.
28 June 2022
Unprompted review
Reply from Coconut
Hey Nr, Your comments are like music to our ears! 🌟 Thank you so much for the awesome feedback here.
While we are closing our current accounts, we are not closing Coconut and still aim to make these strides in order to make tax easier for you and your friends. We know we can be the best accounting and tax app for self-employed people and accountants!
We're glad to hear this is working well for you. Shout if we can help you with anything.
Great customer service
After being tempted with a free trial and finding the app very useful and easy to use I decided to take out the subscription. I did experience a problem but I had excellent help from the coconut team. My issue was dealt with immediately to my satisfaction and in my experience the customer service is excellent.
28 June 2022
Unprompted review
Reply from Coconut
Hi Mike, thanks for taking the time to leave us such a lovely review! 🤗 Your comments about the team are fantastic, and as you know, we'll be here to help you with anything you need.
Been using Coconut for a year or so
Been using Coconut for a year or so - it's great!
28 June 2022
Unprompted review
Reply from Coconut
Hey Ben, thank you for your feedback, this is music to our ears! 🙌 We’re here if you need help with anything.
Lifesaver to stay organised
Been using coconut a couple of years now, it really helps me stay organised and on top of things. Annoying that they shut the current accounts, but v easy to connect my new account.
28 June 2022
Unprompted review
Reply from Coconut
Hi Alice, thanks for taking the time to leave us a review and for your continued support! We're glad to hear everything is working well for you. 💪
We're sorry for any inconvenience the removal of our current account feature has caused you, we're here if you need any help with this.
It’s important to remember that while we are closing our current accounts, we are not closing Coconut. We know we can be the best at self-employed accounting and tax, which will be especially important when quarterly tax returns become mandatory in 2024.
Shout if we can help you with anything.
This is the most innovative tax app…
This is the most innovative tax app I’ve used. It really helped me understand my tax situation better and feel in control.
28 June 2022
Unprompted review
Reply from Coconut
Fantastic! 🎉 Thank you for the great feedback, Jess. We love hearing about positive experiences like this! We're here if you need help with anything.
Well shutting down the business…
Well shutting down the business accounts isn’t great!!
27 June 2022
Unprompted review
Reply from Coconut
We’re really sorry for the inconvenience that this has caused you Roo, and will do everything we can to make switching current accounts as easy as possible. We can appreciate that this is a big change and we will be here every step of the way to help guide you on this—stopping offering the current account feature was a tough decision. We know there are better banking options than us—ones that provide more advanced services and features than we do.
It’s important to remember that while we are closing our current accounts, we are not closing Coconut. We will still aim to make these strides in order to make tax easier for you and your friends— we know we can be the best accounting and tax app for self-employed people and accountants, which will be especially important when quarterly tax returns become mandatory in 2024.
Lost thousands of pounds
Has anyone lost money through Coconut? I had my phone stolen this weekend and the thieves managed to somehow get into the app and steal thousands of pounds.
Coconut hasn't refunded any of the money and won't take responsibility. I'm looking for another with similar experiences. It blows my mind that an app that prides itself in being 'safe', has lost my money.
8 June 2022
Unprompted review
Reply from Coconut
Hi Lucas,
I’m sorry to hear that we haven't been able to help you to the level you were expecting, so far.
We won’t be able to discuss your case in detail on Trustpilot.
However, I believe you have a couple of open chats with our team - we'll continue to provide updates and answer questions on your case there.
Thank you
A Bank today, Not a Bank tomorrow
I’ve just logged on to the app to be greeted with a message saying please leave a positive review on trust pilot
This is an especially bad time for them to be fishing for a positive review from me given what my business is currently going through.
I’ve been with Coconut from almost the beginning. I bought in to everything they said. The vision, The brand. I was involved in feedback sessions to help shape some of the features. It was absolutely everything I wanted from a bank. I recommend them to numerous people including friends who are now pretty annoyed with me.
For years all my customers used to pay by Paypal but when I took opened my business bank account with coconut then the opportunity was there to encourage my customers to pay by bank transfer, saving me fees, and making my accounting easier especially as I invoiced directly from the coconut app.
This was not an easy task persuading all my customers to change to paying by bank transfer. In fact it’s taken almost 4 years of persuading customers to pay direct in to my coconut bank, but I managed it.
Only for Coconut to send an email out in April saying they are closing all bank accounts at the end of June.
I honestly still can’t believe this has happened. How does this now look for me as a business after spending years persuading people to set me up on online banking as a payee only for me to turn round now and say you have to send the money to a new bank. It’s a massive pain. Over 300 customers. I look so unprofessional. A lot of my customers are elderly and its just turned in to a massive headache. Not to mention all the time and administration. It’s been a huge kick in the teeth.
Up until that point I was a huge advocate of Coconut.
Oh we’ve change our mind, we just want to do the accounting stuff so we will stop being bank…..zero consideration to customers. A business bank account is not something you just swap and change every few years. I have institution’s that pay me in to that account and to get the details changed I have to re-register as a supplier…I could keep on writing but I’m sure you get the idea. Maybe in a few years they will decide the don’t want to do accounting software anymore and instead open a cheesmongers or something. I would be very weary to anyone still reading about how much time you invest using coconut because all the effort could be wiped out in a flash.
Massively disappointed. A huge headache and it’s causing me a lot of stress. Sure when I reacted like this direct they did reach out but to be honest I was too angry to engage.
Thanks for absolutely nothing.
7 June 2022
Unprompted review
Reply from Coconut
Hi Urbanfox, We’re really sorry for any in-app messages relating to your in-app experience that ask for feedback. This has been escalated with the appropriate team to ensure this doesn’t happen again, this is understandably not an ideal time for this.
We’re really sorry for the inconvenience that the removal of the current account feature has caused you, and will do everything we can to make switching current accounts as easy as possible. Our team is always available via the in-app chat if you need any further assistance.
Stopping offering the current account feature was a really tough decision, but the truth is there are better banks out there than us—ones that provide more advanced features and services than we do. But we know we can be the best accounting and tax app for self-employed people and accountants, which will be especially important when quarterly tax returns become mandatory in 2024. As our app integrates with 25+ banks and credit card providers, we think customers will get a better banking and tax experience by opening an account elsewhere and then connecting it back to Coconut.
Again, we really apologise for the inconvenience here, please reach out to us for further support or if you have any questions.
No longer an all in one solution
While I like the app and it is useful, I’m giving 2 stars because now I have to open yet another bank account to link since they are dumping their integrated accounts. Dealing with 2 apps, two sets of support teams, is not why I signed up to Coconut. If you are looking for an all in one integrated solution then go elsewhere.
Got an email saying that they want to focus on the accounting side, but what this means in actual business terms is “the current accounts don’t make us enough money”
Thanks very much
7 June 2022
Unprompted review
Reply from Coconut
Hi Dave, we can appreciate that this is a big change and we will be here every step of the way to help guide you on this—stopping offering the current account feature was a tough decision. We know there are better banking options than us—ones that provide more advanced services and features than we do.
It’s important to remember that while we are closing our current accounts, we are not closing Coconut. We will still aim to make these strides in order to make tax easier for you and your friends—we know we can be the best at self-employed accounting and tax, which will be especially important when quarterly tax returns become mandatory in 2024
We’re really sorry for any inconvenience, we’re always available via the in-app chat if you need any further assistance.
Love it!!
We have been so happy with the service provided by Coconut and tbh we a little gutted that they are now changing their business model to now no longer providing bank account facilities. Everything about this bank was perfect and so it will be very hard to find a comparable alternative. The customer service was outstanding - quick , friendly and efficient. The app itself is clear and easy to understand and navigate, the design is fresh and modern. It provided everything needed for the self employed business , but unfortunately it is changing. .. we'll see how it goes. I hope it manages to merge seamlessly with our new bank ..fingers crossed for them .
6 June 2022
Unprompted review
Reply from Coconut
Hi Derek, Love to hear your feedback here and thank you for the continued support!
Stopping offering the current account feature was a really tough decision, but the truth is there are better banks out there than us—ones that provide more advanced features and services than we do. But we know we can be the best at self-employed accounting and tax, which will be especially important when quarterly tax returns become mandatory in 2024. As our app integrates with 25+ banks and credit card providers, we think customers will get a better banking and tax experience by opening an account elsewhere and then connecting it back to Coconut.
As you know, we'll be here to help you with anything you need. 💪
Very good service
6 June 2022
Unprompted review
Reply from Coconut
Hi Mr Khan, thank you for your lovely review! 🙌 Please let us know if we can help you with anything.
Formerly a great service
I signed up to Coconut on the recommendation of an existing user.
Initially the service met all my needs - invoicing, tracking and the integrated bank account was perfect, great customer service when I needed it.
Now that the bank account part of the service is closing down, I have had to migrate to another bank which seems to provide all the other features I need, so I don’t know if I will remain a customer.
4 June 2022
Unprompted review
Reply from Coconut
Hi Andy, Thanks for taking the time to leave us a review. It’s important to remember that while we are closing our current accounts, we are not closing Coconut. We will still aim to make these strides in order to make tax easier for you and your friends—we know we can be the best at self-employed accounting and tax, which will be especially important when quarterly tax returns become mandatory in 2024.
You'll still be able to use the app as normal with your connected account(s) for categorising transactions, uploading receipts and sending invoices, to name a few features. More importantly we're working on MTD 2024, so we'll be ready for when you need to submit digitally!
The decision to stop offering the current account feature was a really tough one, but we know there are better banks and providers out there. We're focusing on being powerful and simple accounting and tax software for self-employed people and accountants, whoever you bank with.
We’re always available via the in-app chat if you need any help with this or anything else.
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