New start up business & new customer to Coconut

“New start up business and new customer to Coconut”

Written on: 10/07/2019 by cth0012 (0 reviews written)

i have started a new business and opened an account with coconut. I had my first invoice paid in and the next morning my account was frozen due to money laundering checks. As a new business all of my business funds was paid in which subsequently means I now cannot run my business and work with my clients. I have forwarded the invoice and still my account is frozen.
This is a completely poor service as anti money laundering checks should be carried out prior to opening any new accounts?!
Coconut have now jeopardised my business and my relationship with my new clients.
I would not recommend opening an account with this organisation and I have learnt the hard way.
Stick to major high street banks for peace of mind and level of professional service as I will be doing in future.