Once your client has signed up to Coconut, they'll be asked to connect their bank account(s) and credit cards they use for business expenses.

Here's a video of what the process looks like:

Here's an example of this process with Tide too:

Bank Connection FAQs

Which banks are supported?
Coconut supported 30 banks and credit card providers that represent 99% of customer accounts in the UK. You can see the latest list here.

What should I do if my client's bank is not on the list?
If your client's bank doesn't appear on our list of banks you can connect to, please let your Account Manager at Coconut know so that we can prioritise this with our bank integration partner.

What if my client is worried about security of Open Banking?

If your client is worried about this, here are some key points you can share:

  • Connecting to accounts through Open Banking is regulated by the FCA (Financial Conduct Authority) in the UK.

  • It's a secure, read-only connection, there is no access to funds.

  • As of 2022, it's used by 5m people in the UK.

What if my client is concerned about Coconut's security?

If your client is worried about this, here are some key points you can share:

  • Coconut never has access to funds through Open Banking as it's a read-only connection.

  • Coconut applies bank-level encryption to all data both in storage and in transit and undergoes annual security audits.

  • Coconut is regulated by the FCA

What if my client has privacy concerns in sharing their bank data?
If your client is worried about this, here are some key points you can share:

  • You can choose which bank accounts you connect to Coconut, so you only have to connect the ones that have business transactions.

  • You can to reconfirm your consent for continued access to read your accounts every 90 days, and you can remove consent at any time.


Read more:

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