All your business finances in one place
All your business finances in one place
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Product updates
9
December 2019

All your business finances in one place

You can now connect 20 different current accounts and credit cards to Coconut in just a few taps and manage all of your business finances in one place.

Adam Goodall
Adam Goodall
Co-founder & Chief of Product at Coconut
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We recently announced that we're changing the game by giving our customers the ability to connect their other accounts to Coconut. This lets you take advantage of our bookkeeping and tax tools no matter who you choose to bank with.

We've been working really hard to get this out, and we’re very excited to announce that, as of today, you can connect current accounts and credit cards to Coconut from 20 different banks 🥳

We’ve put together some quick answers to some of the big questions around this.

What does this mean for me?

On top of all our existing features like expense management, invoicing and tax, we’re bringing more to the table:

All your business finances in one place
No more spreadsheets or flicking between apps. Get a complete view of your business across every account, whenever you need it.

Never miss a business expense
Connect your other business accounts, credit cards or even your personal accounts to make sure you capture all your business expenses.

Get started all year round
No need to wait until the start of the tax or financial year to get organised. Pull in your historical records from your other accounts and get going anytime.

No need to switch accounts
Hit the ground running with all our bookkeeping and tax tools no matter who you choose to bank with.

How do I connect my accounts?

You can connect as many accounts as you want, and it’s easy to get started: 

  • Head into the Coconut app
  • Tap on the '⚙' (cog icon) in the Accounts tab
  • Follow the prompts to connect your accounts

What happens when I connect my accounts?

Once you’ve hooked up your accounts, you’ll be able to see all of your transactions in the app, add receipts and notes, as well as categorise them for tax. 

For business accounts, we’ll automatically categorise your expenses as you spend much like we do when you use your Coconut card. If it’s a personal account, we’ll mark all of your expenses as personal and you can select which expenses you want to claim.

Initially you’ll be able to pull in transactions from the last 30 days, which we know is a little short.

As we're going to be pulling in a much larger volume of data we're starting with a shorter transaction history to make sure we don't affect the app's performance.

We’re actively working on extending this with the aim of being able to go back two full years.

Which banks and credit card providers can I connect to Coconut?


Bank of ScotlandHSBC BusinessNatwest & RBSBarclaycardLloyds BankRevolutBarclaysMarks & SpencerSantanderDanskeMBNAStarlingFirst DirectMonzoTSBHalifaxNationwideUlster Bank

How do we connect your accounts to Coconut?

We use TrueLayer to securely connect your bank accounts and credit cards to Coconut.

TrueLayer are regulated by the Financial Conduct Authority and all your details are encrypted and protected by bank level security. You can read more about how this works over on our help centre.

What does this mean for my Coconut current account?

You'll still have your Coconut current account, that's not changing. This just gives you the option to bring other accounts in side by side.

Get in touch

Hopefully we've answered any questions you might have, but if you have more - just let us know! You can message the team via the in-app chat, or email us on support@getcoconut.com

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Coconut is the trading name of Coconut Platform Ltd, company number 09904418. Coconut is registered with the Financial Conduct Authority (FCA) as an Account Information Service Provider under the Payment Services Regulations 2017 (reference 931194).

Coconut provides some customers with a business current account, but is not a bank. The Coconut current account is an e-money account provided by Prepay Solutions (PPS), a trading name of Prepay Technologies Ltd, which is an electronic money institution authorised by the FCA under the Electronic Money Regulations 2011 (reference 900010) for the issuing of electronic money.

PPS holds all funds in a safeguarded account in accordance with the Electronic Money Regulations 2011 which protects customers against Coconut or PPS’s insolvency. The Coconut Mastercard is also issued by PPS pursuant to a licence by Mastercard International.
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