This online banking app is a great find for freelancers and small-business owners.
Coconut lets you see what your business is spending its money on, helps you keep track of tax, and – best of all – takes the effort out of creating and recording your invoices.
Signing up involves a bit more security than most apps because you’re setting up a new business bank account. Once you’ve signed up, you get a Mastercard in the post and all the features you’d expect from online banking.
You also get some very useful business-focused features: automatic categorisation of expenses, the ability to add notes and receipts to transactions and to export transactions and create PDF statements for your records or for your accountant.
The app is easy to use and the fees are transparent: if you go for the free plan there are small charges for some payments and for foreign currency transactions; move to one of the modestly priced plans you can get free currency transactions – something that could save you a lot of money if you’re a frequent traveller.