The Grow plan is now Live
The Grow plan is now Live
Company updates
May 2019

The Grow plan is now Live

Adam Goodall
Adam Goodall
Co-founder & Chief of Product at Coconut
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Coconut is the business account that helps you with your accounting and tax. We’re focused on making it as simple as possible to run the finances side of working for yourself.We launched our Start plan last year, which was designed for when you’re just starting out or have a side business.Now, we’ve introduced our first paid plan, designed for your full-time business. The Coconut Grow plan.Our mission is to free people from business admin by combining banking and accounting into one simple product. And the Grow plan is the next step in us doing that.Our research found that the journey to working for yourself is often a gradual one. What starts out a side gig develops into a fully fledged business.Our Start plan is designed for when you’re just starting out in business, or if you’re starting a business on the side of your day job. There are no monthly fees, helping with cash flow in those early days.

What’s in Grow

And now we’ve launched our Grow plan. It’s designed for your full-time business. It comes with unlimited invoicing, free foreign exchange on card purchases abroad, and free replacement cards. It costs just £5 per month plus VAT.And we’ve got lots more in the pipeline, including upgrades to our invoicing features, support for VAT and more.

How to upgrade

If you hit any limits on the Start plan, such as your invoice limit, you’ll be prompted to upgrade to the Grow plan in the app.But to upgrade at any time, head into the More tab in the app and tap on “Your plan”:

Upgrade to Grow

Coconut’s not just a current account. It’s your bookkeeping software and receipt capture tool too, which means you don’t have to pay for other tools.It helps you be prepared for your tax return and work with your accountant seamlessly too.We’re constantly adding improving to our Grow tier, so keep an eye out.

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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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