Coconut current account holders
If you're a Coconut current account customer, there are some fees and limits applied when making bank transfers to and from your Coconut account.
We apply these fees to help cover the costs of accessing the UK payments network.
The monthly allowance and per transfer fee can be found in your Coconut app in your plan area in the More tab.
Transfer fees are charged at the end of each month, and apply to the following:
- Payments you make to other bank accounts from the 'Payments' tab in the app
- Payments you receive from others, transferred to your account number/sort code (whether by BACS, Faster Payments, or CHAPS payments).
- Any Direct Debits out of your account (but excluding your Coconut subscription payment)
As these fees only apply to these kinds of payments, the following do not apply:
- Card purchases
- Cash withdrawals
- Moving money to/from your Coconut vault
- Any other Coconut account fees (such as ATM of FX fees)
Not applicable to connected accounts
Note that these bank transfer fees only apply to Coconut current accounts. They do not apply to external accounts you have connected to the app.
Looking for information on transaction categorisation limits?
For details on the monthly limit applied to the number of transactions that can be categorised in a given month, check out this article.