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
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This company invites their customers to review, whether positive or negative
Replied to 100% of negative reviews
Typically replies within 1 week
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Before I initially signed up with…
Before I initially signed up with Coconut they stated their services would be free. After a few months they introduced a monthly fee of £6 per month then after another few months they started to charge £12 per month plus transaction fees.
If they were clear from the very beginning then I would have been ok with everything as the product is really good and I love how user friendly it is.
Unfortunately Coconut has now stopped their banking services (which I think is a mistake as now I will completely switch to another provider who has similar functions, this may cost them hugely with many customers completely switching to Tide or Monzo who Coconut have recommended).
In conclusion I would stay well clear of Coconut and go to another provider who are more reputable or alternatively you could set up a conventional bank (Barclays,etc) and integrate it with Xero.
1 June 2022
Unprompted review
Reply from Coconut
Hi Mohammed,
We’re really sorry for any inconvenience caused and we can appreciate that this is a big change. Stopping offering the current account feature was a tough decision, but we will be here every step of the way to help guide you on this. We understand that there are a lot of great alternatives on the market if you're looking for a business bank account.
Our focus is on building the best accounting and tax software for self-employed people and accountants. We decided to stop offering current accounts so we can be the best at this. We also suggested other alternatives that integrate with our software, so you can still see your transactions in the same way.
We first introduced paid plans in March 2021, and this was announced in January 2021 when we communicated about plan options. To continue investing in features and supporting our customers we needed to become self-sustaining, and that meant discontinuing the free plan. We never take any payment until you subscribe to a plan explicitly and there is the option to cancel or pause your subscription at any time.
We’re always available via the in-app chat if you need any further assistance.
Outstanding
I've been with coconut for a few years now- back when they started with banking accounts. I've stayed using coconut as their tax and invoicing software is brilliant. I love how easy they've made it for me to track what my tax bill will be, categorize and document receipts for expenses etc. Above all the staff at coconut are very quick to respond, helpful and friendly. One of the best customer service experiences I've ever had.
I recommend them to all my self-employed friends. Can't rate them highly enough
28 May 2022
Unprompted review
Reply from Coconut
Hey J, thank you for your lovely review, this made us all smile! 😍 As always, we’re here if you need help with anything.
Great App and quality customer service
Great App and quality customer service. Been a customer since the start and had no issues whatsoever.
27 May 2022
Unprompted review
Reply from Coconut
Your comments are like music to our ears Yousaf! 🌟 Thank you so much for the awesome feedback here. As you know, we will always be available to support you & your business.
I'm been with coconut 🥥 with long time…
I'm been with coconut 🥥 with long time they are very good customer service and payment on time never had problem at all but I don't know why they are stop giving current accounts.
27 May 2022
Unprompted review
Reply from Coconut
Hey Muhmmad, thanks for taking the time to leave us a review! 🤗
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.
Shout if we can help you with anything.
I have been with Coconut for a few…
I have been with Coconut for a few years & they have truly given me my best ever banking experience - Customer Services are really good & their inapp tools are so helpful. My only sadness is that they now streamlining & shifting customers on to Monzo or Tide accounts which I have yet to organise for my own account. 😔
25 May 2022
Unprompted review
Reply from Coconut
Thank you for your lovely feedback, Emma. This is music to our ears! 🙌
It was a really tough decision to stop offering the current account feature, 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. 🤗
Sole trader
Sole trader great app im not very good at this sort of thing but this app makes it easier for me to understand
23 May 2022
Unprompted review
Reply from Coconut
Fantastic! 🎉 Thank you for the great feedback, Paul. We love hearing about positive experiences like this! Shout if we can help you with anything.
This service is so good
This service is so good, because of its good quality service and communication skills, as a small business, even though I have other service banks like this, theirs is exceptional. I value them so much.
23 May 2022
Unprompted review
Reply from Coconut
Hey Reward, thank you for the awesome feedback! 😍 We're happy to hear you feel supported and that you’re enjoying Coconut's accounting and tax features so far. We’re here if you need help with anything.
Excellent for sole traders
Excellent for sole traders, so easy to use and lots of ideas for how to use. Simple interface.
16 May 2022
Unprompted review
Reply from Coconut
Hey Nicola, thank you for taking time to leave us a review. Glad to hear you're enjoying Coconut! 🌟 Shout if we can help you with anything.
I love coconut everything in one place…
I love coconut everything in one place for my business.
13 May 2022
Unprompted review
Reply from Coconut
Hi Tabs, thank you for your lovely review! 🙌 Please let us know if we can help you with anything.
Everything you need in one place.
9 May 2022
Unprompted review
Reply from Coconut
Hey Dan, thank you for your review, this made us all smile! 😃 As always, we’re here if you need help with anything.
absolute time wasters from beginning to…
absolute time wasters from beginning to end. within one month of owning the card there was a security issue... new card had to be supplied, then they decide to increase the monthly payments when I had signed up for a free account (not a free trial). I still decided to stick with them despite this as changing banks would be a complete nightmare to sort out. After months of paying them a monthly fee they have decided to scrap bank accounts completely and have given all customers till June to do this!!! I have a big sales show in June where I need a business account ready set to take card payments, this will cause havoc in my small business, delays ordering stock, paying suppliers and now having to tell all my wholesale clients about another change in banks. Just use quickbooks and a better bank, they don't deserve your money.
6 May 2022
Unprompted review
Reply from Coconut
We’re really sorry for the inconvenience that this has caused you Bee, and will do everything we can to make switching current accounts as easy as possible. We’ll continue sending you guidance over the coming weeks, but if you have any at all questions in the meantime, please don't hesitate to get in touch.
We try to communicate about the trial and plan options during the trial period, and at the end of your trial we never take any payment until you subscribe to a plan explicitly. Unfortunately, we’re unable to find your profile with the current information you provided - we've reached out to find out what has happened here.
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.
Again, we really apologise for the inconvenience here—our team is always available via the in-app chat if you need any further assistance.
Absolute waste of my time setting…
Absolute waste of my time setting things up and paying a monthly service for you to decide you are pulling your current account to and cards .
28 April 2022
Unprompted review
Reply from Coconut
Hi SR, 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 or via email at support@getcoconut.com.
Can't be trusted..
I had a business account with Coconut, but they have now announced that they will be closing all business accounts and I need to find another bank.. Clearly Coconut cannot be relied upon so I would suggest other banks..
28 April 2022
Unprompted review
Reply from Coconut
We’re really sorry for the inconvenience that this has caused you Steve, and will do everything we can to make switching current accounts as easy as possible. We’ll continue sending you guidance over the coming weeks, but if you have any at all questions in the meantime, please don't hesitate to get in touch.
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.
Again, we really apologise for the inconvenience here—our team is always available via the in-app chat if you need any further assistance or via email at support@getcoconut.com.
Really useful for my tax return
27 April 2022
Unprompted review
Reply from Coconut
Hi Simon, Thank you! 🙌 We're glad to hear everything is working well for you.
Such an intuitive, helpful, and encouraging app!
I love how intuitive, how easy to use, and how affordable Coconut is! I’ve already recommended it to several of my sole trader and freelancers friends.
I LOVE the invoice feature; it’s saved me so much time! Plus, the fun and encouraging notifications are always so appreciated!
Love Coconut and so happy Duo Accountants recommended it to me!
25 April 2022
Unprompted review
Reply from Coconut
Your comments are like music to our ears Tricia! 🌟 Thank you so much for the awesome feedback here. As you know, we will always be available to support you & your business.
All round awesome :)
20 April 2022
Unprompted review
Reply from Coconut
Hey Ali, thanks for taking the time to leave us such a lovely review! 😁 Shout if we can help you with anything.
Really easy to use and a massive time…
Really easy to use and a massive time saver avoiding hours of admin and separate record keeping. Having everything in one place digitally is a real win.
18 April 2022
Unprompted review
Reply from Coconut
Awesome! Thank you for your feedback, this is music to our ears! 😍 We’re here if you need help with anything.
Their staff are great
Their staff are great, but there has clearly been a miscommunication between their founder and their marketing team.
They proclaim to be a management accounting app for sole traders and freelancers - which is great - but they also provide an account number and sort code which says to me they also provide an EMI service - also great - but there seems to also be a miscommunication between their marketing team and their front line staff who seem to be under the impression that they’re solely a management accounting app for sole traders and freelancers.
So the fact that I have an account number and sort code for Prepay Technologies via Coconut iiiiiiiis what exactly? My imagination?
Probably explains why they no longer offer an EMI solution, they realised they were confusing people to the point where conversations between Coconut employees ended up being something like “Yeah, Dave from accounting told me we offer banking solutions but Chris, the office cleaner told me that Dave was wrong and that we don’t offer banking solutions, so I just went ahead and assumed we offered banking solutions & tax disc holders, but I was told in my interview that we also offer sawdust flavoured ice cream and shoe horns, but Janice the receptionist told me we offer unicorn paint and spirit level bubbles. Wow, actually, hang on, no wonder why so many people were asking why we weren’t offering syncing services to accounting software like Xero to import transactions for reconciliation - despite it being on our Product Roadmap for three-hundred decades - everyone thought we were offering banking services….& unicorn paint…I dunno, I just wait to be told what we’re selling next”
Due to them being fed up with having to clear up the confusion they created between their customers.
Please, keep the sawdust flavoured ice cream - that just sounds awful - keep the unicorn paint - I’ve never needed that. As for the accounting software, its good, if you could expand that to cater to Limited Companies for a desktop-based solution, I’d buy in to it.
It’s a fun little company - despite the confusion as to the strategic direction they were going in - and the staff actually have productive conversations with their clients - as opposed to the copy/pasted, scripted lines you receive from way too many companies, which don’t answer your question because said staff aren’t allowed to think for themselves, Coconut actually take the initiative and allow staff full discretion how they handle their clients - which I love 👍👍
15 April 2022
Unprompted review
Reply from Coconut
Hi there, Thanks for taking the time to leave us your feedback! We stopped offering current accounts in December 2020 and recently made the decision to close all current accounts. This was a really tough decision, 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.
Our primary focus is helping self-employed people and their accountants prepare for Making Tax Digital 2024 and challenges it will bring: quarterly tax returns, and the requirement to use a digital product to manage your finances. We believe that the best way we can do this is to focus on building and refining our smart accounting and tax tools, and ensuring we’re MTD-ready well ahead of time.
We’re glad to hear that you’ve been happy with our support, this is music to our ears! As you know, we’re here if you need anything. Please reach out to the team if you have any further questions on this. 💪
Reply from Coconut
Hi there, thanks for taking the time to leave us a review! We're glad to hear everything is working well for you 😃
I'm very disappointed
I'm very disappointed, my account was closed by the company in the beginning of Feb and I was told it would take 60days to receive my funds into another account and 60days has since passed and I am still waiting and things are difficult for me right now so really not pleased at present. To think I actually directed friends and family to this company, I have since warned then.
8 April 2022
Unprompted review
Reply from Coconut
Hi Vikki, I’m sorry to see you've had a negative experience with us.
An account closure initiated by us will be fully in line with financial regulations and in order to comply with FCA regulations. I understand this process can be frustrating.
We are obligated to follow certain guidelines, which can sometimes seem like an unnecessary delay but I can assure you it isn’t.
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 on your case there.
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