Coconut is a digital banking solution designed primarily for freelancers, self-employed individuals, and small business owners, providing them with a mobile bank experience tailored to their unique financial needs. The platform integrates modern banking features with accounting and tax tools, aimed at simplifying the management of finances for those who work independently.
With Coconut, users can open a current account that comes with features such as instant notifications on transactions, categorization of expenses, receipt capture for easy record-keeping, and tax estimation to keep users prepared for tax deadlines. Moreover, Coconut offers insights into the user's business cash flow, enabling them to make better-informed financial decisions.
Its user-friendly interface and dedicated support cater to the entrepreneurial spirit, ensuring that even those without extensive financial expertise can manage their accounts with ease. By combining banking and accounting services, Coconut aims to provide an all-in-one financial tool that promotes financial health and growth for its independent and business-oriented user base.
Coconut is currently available for residents of the following countries:
United Kingdom
24/7 availability- anytime, anywhere
No matter where you are, at home or abroad, you can access your Coconut account via the app, check your account balance, control your savings, get customer support, make payments and even freeze your debit card if needed. In addition, get real-time notifications every time you make a transaction, so there won’t be any surprises at the end of the month. No need to make appointments, stand in line and lose working hours to manage your finances.
Get approved fast
Opening an account with Coconut is simple, with no lengthy paperwork. Just download the app, prove your identity, top up your account and you’re ready to go. Coconut doesn’t require a copy of your credit history to approve your account, meaning you can open an account and get approved in minutes.
Lower fees
Another main reason to use Coconut is the low (or no!) fees. Coconut has no physical branches, therefore they can offer lower fees than traditional banks – especially when it comes to ATM withdrawals, money exchange/transfer and payments abroad. For example, Coconut offers zero fees on all transactions, including purchases made overseas!
Makes traveling easier
Coconut = borderless banking. Low/no exchange rates and low/no ATM withdrawal fees worldwide make traveling a whole lot easier (and cheaper) than with traditional banks- especially in the eurozone. And for added safety, freeze or unfreeze your debit card while you travel, directly in the app.
Go paperless
One of the frustrating things about traditional banks is the amount of documents, contracts and letters that are sent to your mailbox. With Coconut everything you need is in the app and all communications are sent to your app or your email. Gone are the days of rummaging through piles of paper around your house – and protecting the environment is the cherry on top.
