What is the official website of the payment service?
The official website of Coconut (UK) payment service is https://www.getcoconut.com
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Where can I find the customer support contacts?
You can find customer support contacts on the Coconut website under the "Contact Us" or "Help" section.
What is the hotline phone number?
There is no publicly listed hotline phone number for Coconut customer service.
Is there a toll-free support number?
There is no information available about a toll-free support number for Coconut.
What is the email address for technical support?
For complaints and support, Coconut can be contacted at [email protected]
Are there separate emails for different types of inquiries?
Yes, complaints can be sent to [email protected]; other specific emails may be provided upon request or through the website.
Where can I find the online chat support?
Online chat support availability is not explicitly stated; typically accessible via the website or app if available.
Does the chat support work 24/7?
No verified information about 24/7 chat support; assume normal business hours unless specified.
Is there support through messengers (Telegram, WhatsApp)?
No verified information about support via Telegram, WhatsApp, or other messengers.
What are the support working hours?
Specific customer support hours are not publicly detailed; standard business hours should be expected.
Does support work on weekends and holidays?
No confirmed weekend or holiday support availability.
Are there regional offices for in-person visits?
No public details about regional offices for in-person visits.
Where are the physical offices located?
Coconut is based in London, United Kingdom, but specific office addresses are not generally disclosed.
Can I schedule a personal meeting?
No public information about personal meeting scheduling.
Are there representatives in different countries?
Coconut primarily serves the UK and European markets; no detailed info on international reps.
In which languages is support available?
English is the supported language for customer service.
How quickly does support respond to requests?
Average response times are not publicly detailed; industry best practices aim for 24-48 hours by email.
Is there a priority system for VIP clients?
There is no public information about VIP client priority support.
Can I request a callback?
No known callback service is provided.
When was the payment service founded?
Coconut was founded in 2016.
Who is the founder and owner of the service?
Founders are Adam Goodall and Sam O'Connor; ownership includes equity crowdfunding investors.
In which country is the company registered?
The company is registered in the United Kingdom.
What is the development history of the payment service?
Founded in 2016, Coconut has developed business current accounts tailored for freelancers and small businesses with integrated accounting features.
Have there been major updates or rebranding?
There have been updates such as the introduction of "Start" and "Grow" plans and additional business management features.
Who sits on the company's board of directors?
Specific board members are not publicly listed; founders lead the company.
Are there investors or partners in the service?
Coconut has investment from multiple investors including Apollo Informal Investment.
Does the company participate in stock trading?
Coconut is privately owned and not publicly traded.
What is the company's market capitalization?
Market capitalization data is not available due to private ownership.
Are there subsidiary companies or branches?
No public information about subsidiaries or branches.
What licenses does the payment service have?
Coconut is registered with the FCA as an Account Information Services Provider (FRN 931194), with e-money accounts provided by Prepay Solutions Ltd, authorized by FCA (FRN 900010).
In which jurisdictions does the service operate officially?
Primarily in the United Kingdom and Europe.
Are there licenses for cryptocurrency operations?
No verified information about cryptocurrency-specific licenses.
Does the service comply with AML/KYC requirements?
Yes, Coconut complies with AML and KYC regulatory requirements as per FCA standards.
Are there security certificates (PCI DSS, etc.)?
Security is enforced by bank-level encryption and TrueLayer’s FCA authorized services; no explicit PCI DSS certification mentioned.
Has the service undergone security audits?
No specific public information about external security audits.
Is there insurance for client funds?
Client funds are safeguarded under the Electronic Money Regulations 2011 by Prepay Solutions; not covered by FSCS.
Which international standards does it comply with?
Complies with FCA Electronic Money Regulations 2011 and data protection standards.
Have there been any regulatory fines or violations?
No public records of regulatory fines or violations.
Where can I find real reviews about the service?
Reviews can be found on app stores, Trustpilot, and fintech review platforms.
What are the main user complaints?
Common complaints include fees for foreign transactions, limited customer support responsiveness, and occasional delays.
What do users most often praise the service for?
Users praise Coconut for integrated accounting features, real-time tax estimation, and ease of invoicing.
Are there issues with fund withdrawals?
No widespread issues reported; withdrawal functions as a typical e-money account.
Is the interface convenient according to users?
The interface is generally regarded as user-friendly and straightforward.
Are clients satisfied with transaction speed?
Transaction speeds meet expectations for UK Faster Payments and electronic transfers.
Do users recommend this service?
Many users recommend it for freelancers and small businesses needing integrated accounting.
How do experts assess the service's reliability?
Experts view Coconut as a reliable fintech solution for niche business current accounts.
Are there industry awards and recognitions?
No major industry awards reported.
Does the service participate in payment system rankings?
Not prominently featured in major payment system rankings.
Are there recommendations from financial regulators?
FCA regulates and authorizes Coconut under relevant frameworks.
What reputation does the service have among partners?
Positive reputation for innovation in business banking and accounting integration.
How do they evaluate solution innovation?
Recognized for combining banking with automated tax and invoicing features.
Are there quality service certificates?
No specific quality assurance certificates publicly listed.
Does the company participate in industry conferences?
No public information about conference participation.
How does the service position itself in the market?
Positioned as a digital-first business current account with integrated accounting for freelancers and SMEs.
Which fiat currencies does the service support?
Primarily British Pounds (GBP).
Are cryptocurrencies supported? Which ones specifically?
No direct cryptocurrency support is indicated.
Is there a proprietary cryptocurrency or token?
No proprietary token exists.
Can currencies be converted within the service?
Currency conversion is available via linked services but not directly within Coconut.
What exchange rates are used for conversion?
Currency conversions are typically charged with a fee; rates depend on partners like Wise if used.
How often are exchange rates updated?
Not specifically disclosed; depends on third-party providers.
Are stablecoins supported?
No stablecoin support.
Can exotic currencies be handled?
No support indicated for exotic currencies.
Are there currency restrictions in different countries?
Operates mainly with GBP; currency restrictions follow regional financial regulations.
What types of transfers does the service support?
Supports UK Faster Payments and international transfers via connected services.
Can transfers be made between service users?
Peer-to-peer transfers available within the platform.
Are transfers to bank cards supported?
Transfers to bank cards not explicitly mentioned.
Can money be transferred to bank accounts?
Yes, transfers to UK bank accounts supported.
Is bill payment available?
Bill payment service is not a primary feature.
Are recurring payments supported?
Recurring payment setup not explicitly described.
Can automatic transfers be set up?
No explicit information on automated transfer configuration.
Is payment scheduling available?
Payment scheduling features are not detailed.
Are group payments supported?
Group payments or splitting capabilities not mentioned.
Can payment links be created?
No information on payment link generation.
What are the minimum transaction amounts in the service?
Minimum amounts depend on transfer types; not publicly defined.
What are the maximum amounts that can be transferred?
Limits exist related to verification level; exact amounts are not publicly detailed.
Are there daily limits on operations?
Daily transaction limits apply as per FCA regulations, specifics not published.
What monthly and annual limits are in effect?
Limits vary by account and verification status.
Can limits be increased? How?
Limits can usually be increased by completing higher verification levels.
Do limits differ for verified users?
Verified users have higher transaction and funding limits.
Are there restrictions for new accounts?
New accounts have standard initial limits until verification is completed.
Do special limits apply in different countries?
Limits may vary based on jurisdiction and regulatory policies.
Can operations be temporarily blocked?
Yes, accounts can be temporarily blocked for compliance or security reasons.
Are there limits on the number of daily operations?
Transaction count limits may apply according to FCA rules.
What are the minimum amounts for account funding?
Minimum funding amounts depend on the funding method; details not explicitly stated.
What methods of funding are supported?
Funding methods include bank transfer and debit card payments.
Are there fees for funding?
Fees for funding are generally not charged domestically, except for possible card fees.
What are the minimum funding amounts?
No publicly stated minimums; usually standard bank transfer minimums apply.
How quickly are funds credited when funding?
Bank transfers are usually processed in 1-3 business days.
How can money be withdrawn from the system?
Withdrawals can be made via bank transfer or ATM using the Mastercard debit card.
Are there fees for fund withdrawal?
£1 fee applies for ATM withdrawals; no fee usually for bank transfers.
How long does withdrawal take?
Bank withdrawals typically take 1-2 business days.
What withdrawal limits are set?
Withdrawal limits depend on the account and verification level.
How quickly are funds credited when funding with a card?
Card funding processing times vary; often immediate or within a few hours.
How long does a bank transfer take?
Typically 1-3 business days depending on the bank.
How quickly do cryptocurrency transfers arrive?
Cryptocurrency transfers are not directly supported.
Are transfers between users instant?
Internal transfers are typically instant or near-instant.
Are there delays when funding on weekends?
Weekend funding via bank transfer is generally processed on the next business day.
Do holidays affect funding speed?
Bank holidays delay processing times for transfers and withdrawals.
Can crediting be accelerated for a fee?
No express funding acceleration options publicly advertised.
What determines the speed of funding processing?
Dependent on banking networks, cut-off times, and payment method.
Are there notifications about funding status?
Users receive notifications for transactions and payment status in the app.
What to do if funding takes too long?
Contact customer support to report delayed funding issues.
How quickly are withdrawal requests processed?
Withdrawal requests are processed within 1-2 business days.
How long does card withdrawal take?
ATM withdrawals are immediate subject to fee and daily limits.
How quickly do bank transfers arrive?
Typically 1-3 business days.
Are cryptocurrency withdrawals instant?
Not applicable.
Are there withdrawal delays on weekends?
Withdrawals initiated on weekends process next business day.
Do holidays affect withdrawal speed?
Withdrawals may be delayed due to bank holidays.
Can withdrawal be accelerated for an additional fee?
No public info on express withdrawal options.
What determines withdrawal processing time?
Banking infrastructure, cut-offs, and verification status.
Are there notifications about withdrawal status?
Yes, app notifications are sent for withdrawal processing.
Can a withdrawal request be canceled?
Withdrawal cancelation options are limited and depend on processing stage.
How to register with the payment service?
Registration is online via the website or mobile app, requiring basic personal and business information.
What data is needed to create an account?
Name, address, email, phone number, business details, and verification documents.
Can registration be done without email?
Email is required for account creation and communications.
Is phone confirmation required during registration?
Phone number verification is typically required.
Are there age restrictions for registration?
Minimum age is usually 18 years.
Can a corporate account be created?
Yes, Coconut offers business current accounts for small businesses and freelancers.
Is it required to provide real data?
Real and verifiable data is required to meet regulatory KYC requirements.
Are there country restrictions for registration?
Registration is limited mainly to UK residents and businesses.
How long does account activation take?
Activation typically takes a few minutes to a few hours after verification.
What verification levels exist?
Basic and enhanced verification levels with different document requirements.
What documents are required for basic verification?
Proof of identity and proof of address.
Are documents needed for full verification?
Additional documents like business registration and tax information may be required.
Are digital copies of documents accepted?
Yes, digital document uploads are accepted.
How long does the verification procedure take?
Verification usually completes within 1-3 business days.
Can the service be used without verification?
Limited use is allowed but with restricted transaction limits.
What restrictions apply to unverified users?
Unverified users face lower transaction limits and some feature restrictions.
Is address confirmation required?
Yes, proof of address is part of the verification process.
Is a selfie with documents required?
A selfie with documents may be required for enhanced verification.
How often do documents need to be updated?
Documents may need updating annually or upon renewal requests.
What encryption technologies does the service use?
Coconut uses bank-level encryption technologies and secure APIs via TrueLayer.
Is two-factor authentication supported?
2FA support is generally a standard but specific implementation details are not confirmed.
Are there SMS confirmations for operations?
SMS verification is likely for account security and critical transactions.
Is biometric authentication supported?
No clear information on biometric authentication support.
Is blockchain technology used?
No indication that blockchain technology is used.
Is there a multi-level security system?
Yes, security involves multiple layers including encryption, monitoring, and access controls.
How is user personal data protected?
Data protection follows GDPR and FCA guidelines to ensure privacy and security.
Is cold storage used for cryptocurrencies?
Cryptocurrency custody is not applicable.
Is there DDoS attack protection?
Industry-standard protections including DDoS mitigation are expected but not explicitly stated.
Are regular security audits conducted?
No public data but regular security reviews are standard industry practice.
What anti-phishing protection measures are provided?
User education and secure authentication protocols help prevent phishing.
Is there a suspicious activity detection system?
Yes, fraud detection and monitoring systems are used.
How does the service combat money laundering?
AML procedures including customer verification and transaction monitoring are enforced.
Is there blocking of suspicious accounts?
Suspicious accounts are blocked in line with regulatory compliance.
What to do when fraud is detected?
Report immediately to support; the service will investigate and take action.
How to report suspicious activity?
Suspicious activity can be reported through customer support channels.
Is there compensation for damage from fraudsters?
No public info on compensation policies for fraud losses.
What user rights exist for disputed transactions?
Users can dispute transactions through support and escalate to the Financial Ombudsman if unresolved.
How to dispute account blocking?
Users can appeal account blocks via support and follow dispute procedures.
Is there insurance against cyber attacks?
No specific cyber attack insurance information available.
What fees does the service charge for transfers?
Transfers within the UK generally have no fees; international transfers have a 2% currency conversion fee.
Are there fees for account funding?
Generally no fees for account funding via bank transfer.
Are fees charged for fund withdrawal?
ATM withdrawals incur a £1 fee; bank transfers withdrawals are free.
Are there fees for currency conversion?
Yes, 2% currency conversion fee applies on foreign currency transactions.
Are there fees for account inactivity?
No inactivity fees reported.
Are there account maintenance fees?
The "Start" plan is free; "Grow" plan costs £5 per month.
Are fees charged for operation cancellation?
No fees typically charged for transaction cancellations.
Are there fees for expedited operations?
No clear information on expedited services fees.
Are there hidden fees?
Fees are transparently disclosed with no known hidden charges.
How are fees calculated for large amounts?
Large transaction fees are typically calculated as percentage-based currency exchange fees.
Are there different tariff plans in the service?
Yes, “Start” (free) and “Grow” (£5/month) plans are offered.
What advantages does VIP status provide?
No public VIP status or privileges.
How to get preferential conditions?
Not applicable.
Are there free operations per month?
The free "Start" plan offers standard operations without monthly fees.
Are there discounts for active users?
No public information on discounts for active users.
Are there corporate tariffs?
Business account pricing is under the standard tariff plans.
Can individual conditions be obtained?
Custom pricing may be available upon negotiation.
Do promotional codes work for fee reduction?
No public system for promotional codes.
Are there cashback programs?
No cashback programs noted.
Are there discounts for transaction volumes?
No volume-based discounts reported.
Is there an official mobile application?
Yes, Coconut has an official mobile app.
On which platforms is the application available?
Available on iOS and Android.
What functions are available in the mobile application?
Manage accounting, banking, invoicing, expense tracking, tax estimation, and notifications.
Does functionality differ from the web version?
The app is designed to provide core functionalities on mobile; full web features may differ slightly.
Is Touch ID/Face ID supported?
Likely to support biometric login as standard mobile app feature.
Can the application work offline?
Limited offline functionality; online connection needed for real-time updates.
Are there push notifications about operations?
Yes, push notifications for transactions and reminders.
Is dark theme supported?
No specific information on dark mode.
How often is the mobile application updated?
Frequent updates to improve features and security.
Are there beta versions of the application?
No public beta program disclosed.
Is the web interface of the service convenient?
The web interface is considered user-friendly and well-designed.
Is responsive design supported?
Yes, the web interface supports mobile-responsive design.
In which languages is the interface available?
English.
Is there a night mode for the website?
No explicit night mode feature reported.
Are hotkeys supported?
No information on hotkey support.
Can data be exported?
Yes, data export options are available for accounting records.
Is there an API for developers?
No public API access information.
Is integration with other services supported?
Integrates with TrueLayer and selected accounting services.
How often is the web interface updated?
Periodic updates for improvements and compliance.
Are there virtual cards in the service?
No public info on virtual card availability.
Can disposable cards be created?
No information about disposable card issuance.
Is multi-currency account functionality supported?
Multi-currency accounts are not supported directly.
Are there investment products?
No investment products are offered.
Can interest be earned on balance?
No interest on account balances.
Are there credit products?
No credit or lending products available.
Is P2P trading supported?
Not supported.
Can cryptocurrencies be bought/sold?
No built-in cryptocurrency trading services.
Is there acquiring for business?
No merchant acquiring services are mentioned.
Are mass payouts supported?
No direct mass payout capabilities are indicated.
Is there a loyalty program in the service?
No loyalty program exists.
How are bonus points earned?
Not applicable.
Is there cashback for operations?
No cashback features exist.
Are there referral programs?
No public referral program details.
What privileges do VIP clients have?
VIP privileges are not available.
Are there seasonal promotions and offers?
No seasonal promotions advertised.
Can premium status be obtained?
Premium status is not offered.
Are there partner discounts?
No partner discount programs.
Are there corporate loyalty programs?
No corporate loyalty programs reported.
Does the service allow operations with online casinos?
No information on online casino transaction support.
Are there restrictions on gambling transactions?
Standard banking restrictions apply to gambling-related transactions.
Can accounts be blocked for casino play?
Accounts can be blocked for suspicious activity including gambling if against policy.
How does the service view gambling?
No explicit stance publicly stated.
Are there special conditions for gambling?
No gambling-specific terms disclosed.
Are casino transactions tracked?
Financial monitoring likely includes tracking such transactions.
Can operations with gambling sites be hidden?
No options for hidden gambling transactions.
Are there notifications about gambling expenses?
No gambling expense notifications.
Are there special fees for gambling operations?
No specific gambling fees indicated.
Can limits be set on gambling?
No controls specific to gambling limits.
Is there a self-exclusion function?
Not available within the payment service.
Can access to gambling sites be restricted?
Not controlled by the payment service.
Is gambling expense control supported?
No expense control tools related to gambling.
Are there notifications about limit exceedance?
General transaction limit alerts may be available.
Can operations with casinos be blocked?
Yes, if flagged by compliance.
Is there gambling expense statistics?
Not available.
Is a "cooling-off period" supported?
Not offered.
Can help be obtained for gambling addiction?
No direct support provided.
Is there partnership with player assistance organizations?
None publicly disclosed.
How to set up gambling expense notifications?
Not applicable.
Which online casinos accept this payment method?
No public list available.
Are there exclusive partnerships with specific casinos?
None known.
Do conditions differ when used in different casinos?
Not applicable.
Are there special bonuses for using this method in casinos?
No casino-specific bonuses.
Can the method be used for both deposits and withdrawals in casinos?
No explicit support.
Are there geographic restrictions for casino usage?
Use limited to UK and European jurisdictions in line with regulations.
How do casino operators typically process transactions from this method?
Not publicly detailed.
Are there typical processing times when used with casinos?
Not available.
Do casinos usually charge additional fees for this method?
Unknown.
Are there any known compatibility issues with major casino platforms?
No reported compatibility issues.