Coconut = bank lock-in. AccountsOS = use any bank.
Keep your bank.
Get real accounting.
Coconut bundles basic bookkeeping with a bank account - but forces you to use their bank. AccountsOS gives you AI-powered accounting that works with Starling, Monzo, Revolut, or any UK bank you already love.
Coconut is a capable banking and bookkeeping app, well-suited to sole traders and freelancers. If you run a UK limited company, it lacks Corporation Tax planning, director loan tracking, and dividend optimisation, and it requires switching to their bank. AccountsOS is £20/month + VAT with a 14-day free trial, works with any bank, and gives you Finn, an AI accountant built for Ltd directors.
The hidden cost of bank lock-in
Coconut bundles banking and bookkeeping, sounds convenient, right? Until you realize what you're giving up.
With Coconut, you lose:
- Your Starling 0.5% cashback on spending
- Your Monzo budgeting pots and salary sorting
- Your Revolut multi-currency and cheap FX
- Integration with apps you already use
- The ability to switch banks without starting over
With AccountsOS, you keep:
- Your existing bank account and all its features
- Your transaction history and relationships
- Your bank integrations (Xero, Stripe, etc.)
- Freedom to switch banks anytime
- Your accounting data, independent of your bank
What Ltd directors say about Coconut
Coconut works well for sole traders. But these are real frustrations from Ltd company directors.
Feature-by-Feature Comparison
| Feature | AccountsOS | Coconut |
|---|---|---|
Works with any bank Keep your Starling, Monzo, Revolut, or any UK business bank. Coconut forces you to use their bank. | ||
Built for Ltd companies Corporation Tax, dividends, director loans. Coconut was built for sole traders. | Partial | |
Ask questions in plain English "What's my Corporation Tax bill?" vs checking dashboards | ||
Voice commands Hands-free expense logging while driving or working | ||
Proactive tax optimization AI finds savings you'd miss - salary/dividend split, expense claims, deadline alerts | ||
Companies House integration Auto-sync filing deadlines. Coconut doesn't touch Companies House. | ||
MTD for VAT ready Direct HMRC submission. Coconut has limited MTD support. | Partial | |
Director salary/dividend advice Optimal remuneration guidance for tax efficiency | ||
Bank account included Coconut is a bank first. AccountsOS works with your existing bank. | ||
Auto-categorization Both categorize transactions - AccountsOS uses AI, Coconut uses rules | ||
Receipt scanning Both capture receipts via photo | ||
Tax estimates AccountsOS: Corporation Tax + personal. Coconut: Self-assessment only. |
Coconut Pricing
£9.50-19/month
Banking + basic bookkeeping. Best for sole traders.
- + Bank account required (no choice)
- + Limited Ltd company features
- + Basic tax set-asides only
AccountsOS Pricing
£20/month + VAT
Full Ltd company accounting. Use any bank.
- + AI chat + voice commands
- + Corporation Tax + dividend optimization
- + Companies House deadline sync
Designed for sole traders. Ltd is bolted on.
Coconut was built for freelancers and the self-employed. Ltd company support came later, and it shows in the gaps.
When Coconut actually makes sense
We're not saying Coconut is bad, it's just built for a different user.
You're a sole trader or freelancer
Coconut was literally built for you. Self-assessment, simple income/expense tracking, tax pot set-asides.
You want banking + bookkeeping in one app
If simplicity matters more than features, having one app for everything has appeal.
You're just starting out
Pre-revenue, simple business, no complex tax planning needed yet.
But if you have a UK limited company?
You need accounting built for Corporation Tax, director remuneration, and Companies House, not bookkeeping adapted from a sole trader app.
Keep your bank. Get real accounting.
Free for 14 days. Works with Starling, Monzo, Revolut, or any UK bank. Full Ltd company accounting, not bookkeeping-lite.
No credit card required. No bank account switch needed.