Adam Goodall
Co-founder & Chief of Product
Posted 1 year ago

All your business finances in one place

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 Scotland HSBC Business Natwest & RBS
Barclaycard Lloyds Bank Revolut
Barclays Marks & Spencer Santander
Danske MBNA Starling
First Direct Monzo TSB
Halifax Nationwide Ulster 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 [email protected]

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