Score 8.8
Regulation ACPR
Qonto Business Card
Score 8.8
Regulation ACPR

What is qonto Business Banking?

Qonto is a 100% digital online bank. It was established in France in 2017 and now boasts over 150,000 business customers. In 2018, Qonto gained a license from the French Prudential Supervision and Resolution Authority and is overseen by the ACPR.

Qonto currently offers business banking accounts to registered French companies. The point of difference to other online financial institutions is that Qonto has a large variety of product offerings based on the type of entity applying for the account. Sole traders, corporations, and start-up businesses can all get value from a Qonto business account.

The two co-founders, Alexandre Prot’s and Steve Anavi’s mission statement is “Building the best business banking service by using technology and design, with fair and transparent pricing!”. They have proven that they can achieve this.

Key Details

Founded
2016
Headquarters
Paris, France
Users
150,000
Backed By
Banque de France
Regulation
ACPR
Rating
Qonto Key Details
Founded 2016
Headquarters Paris, France
Users 150,000
Backed By Banque de France
Regulation ACPR
Start managing your business finances with qonto

qonto Business Account Pros & Cons

qonto Banking Features

Unlike traditional banks, qonto offers user friendly banking features as well as accounting tools that help you manage your business and its finances.

Multi-Currency Accounts

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qonto offers a French account in euros. They support international funds transfers, currently 34 countries, and 18 currencies. Also, they do provide IBANs for Spain, Italy, and Germany.

Payments

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There are several ways to make payments. With the MasterCard option, use the physical card for in-store purchases, or the virtual card for online transactions. You can also pay by bank transfers via IBAN, and SEPA direct debits B2B are also now supported in the qonto business account.

Corporate Card

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qonto business accounts come with a corporate MasterCard in plastic format or as a virtual card. For customers seeking a higher level product, qonto also offers the X card, which is made of metal and comes with added privileges.

Cards can all have individual limits set based on the level of the team member using it. This allows an extra level of protection for the business.

Employees, roles & permissions

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Customise who can access what options on the account. Various team members can be restricted to what they can see and do and what spending limits they have. Every eligible team member has their own card, and the settings can be altered per person.

There is even an ‘accountants’ option to give them view access to everything.

Accounting tools

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Bookkeeping is made easy with the qonto app. You can view your entire transaction history, it’s always available. Create your own unique labels for your expenses so they can be sorted at the time of the purchase.

Receipts can be added to any transaction by using the phone’s camera. VAT reconciliation is simple, and qonto connects to your favourite accounting software.

qonto also gives access to a free collection of APIs. The API is organized around REST and uses built-in HTTP features, like HTTP authentication and HTTP verbs.

Security

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Many new business customers question the safety and security of their funds deposited with digital banks.

qonto’s members funds get protected by the Fonds de Garantie des Dépôts et Résolution (FGDR) and then secured by Credit Mutual Arkéa for up to a maximum of €100,000.

Perks

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Customers who apply for the X card get access to extra perks.

Airport lounges – Get exclusive access to over 1,000 airport lounges, worldwide
Concierge service – Get assistance with travel and lifestyle bookings
Select insurance – Offered by AIG Europe

Customer Support

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Business account holders can contact qonto by a chatbot via the website. They promote that they will take care of your question within 15 minutes. User reviews also confirm this form of contact is speedy and effective.

Their website also has a help-desk of frequently asked questions that may negate the need to contact them.

Pricing & Plans

There are 3 different product offerings based on the type of business applying for the account:

  • Independents
  • SMEs and Startups
  • Business Creators

Independents pricing plans

The Solo account is designed for freelancers or sole traders. It provides all the necessary requirements to make deposits and payments, MasterCard, and reporting tools. This account offers three different pricing plans as detailed below.

All Solo plans include the following features:

  • French, Italian, Spanish & German IBAN
  • Accounting and expenses
  • Unlimited transaction history
  • Real-time transaction history
  • Upload payment receipts
  • CSV, PDF and QIF transaction exports

The following table presents additional features and their allowances per plan.

BasicSmartPremium
Price per month€9€19€39
Card typeBusiness MasterCard Business MasterCard Business MasterCard
Number of users11 + accountants access 1 + accountants access
SEPA transfers & direct debits3060100
Checks cashing 25
7 days a week support
Multi accounts
Bulk transfers
Automatic VAT detection
Digital receipts
7 days a week priority support
Basic
Price per month €9
Card type Business MasterCard
Number of users 1
SEPA transfers & direct debits 30
Checks cashing close-mark-black
7 days a week support green-check-mark
Multi accounts close-mark-black
Bulk transfers close-mark-black
Automatic VAT detection close-mark-black
Digital receipts close-mark-black
7 days a week priority support close-mark-black
Smart
Price per month €19
Card type Business MasterCard
Number of users 1
SEPA transfers & direct debits 60
Checks cashing 2
7 days a week support green-check-mark
Multi accounts green-check-mark
Bulk transfers green-check-mark
Automatic VAT detection green-check-mark
Digital receipts green-check-mark
7 days a week priority support green-check-mark
Premiun
Price per month €39
Card type Business MasterCard
Number of users 1
SEPA transfers & direct debits 100
Checks cashing 5
7 days a week support green-check-mark
Multi accounts green-check-mark
Bulk transfers green-check-mark
Automatic VAT detection green-check-mark
Digital receipts green-check-mark
7 days a week priority support

SMEs and Strartups pricing plans

Team is qonto’s main product, directed at companies. This type of business account is for multiple team members. Mastercards can be provided to individuals, all with their own limits. Managers and accountants can take action on the account and make changes. This one has 3 levels of pricing, which is based on the number of users connected to the account. This account offers three different pricing plans as detailed below.

All Team plans include the following features:

  • French, Italian, Spanish & German IBAN
  • Customized access for your Admins, members, and accountant.
  • Unlimited transaction history
  • Real-time transaction history
  • Upload payment receipts
  • Add custom labels to categorize transactions
  • CSV, PDF and QIF transaction exports
  • Bulk transfers

The following table presents additional features and their allowances per plan.

EssentialBusinessEnterprise
Price per month€29€99 €249
Number of users2510
SEPA transfers1005001000
Cashed checks31015
accounts with individual IBANs510unlimited
Automatic VAT detection
Digital receipts
Role management access Advanced Advanced
7 days a week support
Team expenses pack
7 days a week priority support
VIP support
Essential
Price per month €29
Number of users 2
SEPA transfers 100
Cashed checks 3
Accounts with individual IBANs 5
Automatic VAT detection green-check-mark
Digital receipts green-check-mark
Role management access green-check-mark
7 days a week support green-check-mark
Team expense pack close-mark-black
7 days a week priority support close-mark-black
VIP support close-mark-black
Business
Price per month €99
Number of users 500
SEPA transfers 5
Cashed checks 10
Accounts with individual IBANs 10
Automatic VAT detection green-check-mark
Digital receipts green-check-mark
Role management access green-check-mark
7 days a week support green-check-mark
Team expense pack green-check-mark
7 days a week priority support green-check-mark
VIP support close-mark-black
Enterprise
Price per month €249
Number of users 10
SEPA transfers 1000
Cashed checks 15
Accounts with individual IBANs unlimited
Automatic VAT detection green-check-mark
Digital receipts green-check-mark
Role management access green-check-mark
7 days a week support green-check-mark
Team expense pack green-check-mark
7 days a week priority support green-check-mark
VIP support green-check-mark
Open an account and get free virtual cards until May 31st

Company Creators Pricing Plans

The final business product is for company creators, specially designed for start-ups. The idea behind this account is that investment capital can be deposited in preparation for the company to be finalised. Deposits can be made from all the shareholders. This account has 2 price levels as detailed below.

  • Unlimited transaction history
  • Real-time transaction history
  • Upload payment receipts
  • CSV, PDF and QIF transaction exports

The following table presents additional features and their allowances per plan.

Solo packStandard pack
Price per year€120€300
Capital deposit
Number of users15
Physical cards included12
Virtual cards included€2/card2
IBANFrench – Italian – Spanish- GermanFrench – Italian – Spanish- German
In/out SEPA transfers and direct debits20/a month100/a month
Automatic VAT detection
Bulk transfers
Customized access permission
Solo pack
Price per year €120
Capital deposit 12 months of Solo plan
Number of users 1
Physical cards included 1
Virtual cards included €2/card
IBAN Italian – Spanish- German
In/out SEPA transfers and direct debits 20/a month
Automatic VAT detection close-mark-black
Bulk transfers close-mark-black
Customized access permission close-mark-black
Solo pack
Price per year €120
Capital deposit 12 months of Standard plan
Number of users 5
Physical cards included 2
Virtual cards included 2
IBAN French – Italian – Spanish – German
In/out SEPA transfers and direct debits 100/a month
Automatic VAT detection close-mark-black
Bulk transfers green-check-mark
Customized access permission green-check-mark

qonto Fees

As there are three different types of pricing structures the fees are slightly different and refer to payments, foreign currency transactions, and ATM withdrawals.

All figures in the tables below exclude VAT.

Additional Card Fees

€2/card

close-mark-black

€3/month

Free Domestic Transfers green-check-mark green-check-mark green-check-mark
Free International Transfers close-mark-black green-check-mark close-mark-black
ATM Withdrawl Fees

€1/withdrawal

2% fee

2.5% fee

Additional Card Fees

€2/card

close-mark-black

€3/month

Free Domestic Transfers
green-check-mark green-check-mark green-check-mark
Free International Transfers
close-mark-black green-check-mark close-mark-black
ATM Withdrawl Fees

€1/withdrawal

2% fee

2.5% fee

FAQ

Who can open a qonto business account?

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qonto business accounts are available to any organization, ranging from a sole trader to a team of 250 people. The directors of the company are the initial account holders.

qonto has also partnered with legalstart.fr and offers a unique business bank product for those wanting to start a new company in France, Spain, Italy or Germany.

What countries can I open an account in?

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Currently, the qonto business account is only available for businesses licensed in France, Spain, Italy, and Germany.

What documents do I need to open a qonto Business Account?

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You need to provide your identification documents and also all owners and shareholders must have a proof of residency in France. The list of supported legal forms is SAS, SASU, SARL, EURL, and SC.

How do I open a qonto bank account?

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The application process is done entirely online and takes under 15 minutes. Once the documents are uploaded and confirmed, the account can be created in less than 1 business day.

How can I access my account?

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qonto has a really user-friendly mobile app available on both iOS and Android. You can manage your account, make transfers, set limits for team members, and much more. There is even added security like fingerprint verification.

They even have a web app as well for managers and accountants to access from their desks.

Is my money safe?

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Yes, all qonto funds are protected by the Fonds de Garantie des Dépôts et Résolution (FGDR) and then secured by Credit Mutual Arkéa.

User Reviews

5/5
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I would definitely recommend Qonto to any entrepreneur. They always reply really quickly to any inquiry (either immediately or within a few hours). Quick, easy, non-expensive!

By Donia Oct’, 2019
5/5
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Love Qonto! So simple to use, very responsive to queries and makes accounting very easy.

By Jonathan Dec’, 2018
4.5/5
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Great banking services and most simple. Exactly what I expect from a bank. Thank you Qonto for making it possible.

By Halfteaspoon Nov’, 2019

Our Verdict

For registered French, Italian, Spanish, German companies, or new businesses awaiting finalisation, a qonto business account makes smart sense. Especially as the account can be quickly opened in less than a day, provided all the correct documents are uploaded.

There are options for every type of entity, from sole trader up to medium-sized enterprise. Payments and withdrawal limits can be set individually for each person. Accountants will appreciate the ease of use and the instant data available to them.

qonto is continually evolving its offering and keeps up to date with the latest technological innovations. Overall, a qonto Business account is a great option and comes highly recommended by over 150,000 companies and sole traders.