Review: Qonto (Bank Accounts for Businesses)

Pay and get paid, invoice and manage expenses with Qonto

Ian McKenzie

Review by Ian McKenzie 

Head of Fintech Research

Contact author

Published: 09.02.24  

Updated: 11.06.24

Published: 09.02.24

Updated: 11.06.24

Detailed review: Business bank accounts at Qonto

What is Qonto? Short introduction

Qonto is an up-and-coming French financial technology company headquartered in Paris, France. Born "out of frustration with a lack of options", the company's mission is to reinvent business banking by using design and technology to give entrepreneurs the best possible banking experience.

Geared towards ambitious startup founders, small business owners, freelancers and digital entrepreneurs, the company aims to make business finance easy, while still providing a reliable and powerful banking product. Qonto's approach to winning over customers is very straightforward: first, you offer customers a bank account on par with the ones at traditional "brick-and-mortar" banks. Then, you utilize cutting-edge technology to enhance security, supplement that with convenience of digital-first services, and package that in a very stylish and user-friendly interface (either on desktop or in a mobile app).

Qonto logo

Qonto: Key Facts

HeadquartersParis, FR
Personal Banking
Business Banking From €9.00 p/m
Sign-up Bonus 30 days free trial
Web Client

But does Qonto actually manage to deliver on that promise? To answer with certainty, our team of experts assessed Qonto's business banking solutions by getting "hands-on" with the mobile app and reviewing all relevant pricing and legal documents. The results of their critical examination are in this article.

First, we delve into the intricacies of Qonto's offerings, evaluating how well it meets the needs of its target audience and stands out in the crowded fintech space. Whether you're a freelancer tired of traditional banking hurdles or a growing business in search of a financial platform that grows with you, join us as we explore what makes Qonto a potential game-changer in business banking and criticize all the shortcomings this neobank has.

Looking to compare the best business banking offers available today? Qonto's bank accounts for companies are also featured in our selection of in-depth "one-on-one" comparisons. Find the list of comparisons of Qonto bank accounts by going to the links below:

Qonto: Availability per country

Legal business entities registered in the following countries can sign up for a Qonto bank account for businesses:









Qonto offers neat and modern-looking bank cards.

Qonto's bank cards boast a stylish design and come in a variety of colors.

Plans Available at Qonto

Qonto primarily services four audience segments, providing a selection of three plans for each group. From self-employed and freelancers to enterprise-level corporations, we'll dive into the differences between what's available to Qonto's customers below.

Company Creation with Qonto

If you're just getting started and are looking to create a new company in France, Qonto provides three "all-inclusive" packages to choose from. Each of these allows you to cut down on the amount of paperwork, ensures you receive your deposit certificate within 72 hours and gives your newly created venture a ready-to-use bank account (fully paid for the next 12 months). Of course, you also get your Mastercard, 7 days a week customer support, 3D Secure and a modern mobile app that's intuitive and aesthetically pleasing. You obviously get a Qonto RIB with your IBAN details, Qonto's BIC and all other information you might need.

Here are the benefits included in each of Qonto's company creation packages.

All prices indicated below include the initial deposit fee; VAT not included

Basic Pack

€169,- for Year 1; €108,- after Year 1

Company creation, deposit fee and your bank account ready to go. Clearly aimed at self-employed and freelancers, the biggest restriction is that you're limited to only one bank account, without any sub-accounts for easier cash flow and expense management. You get 30 transfers or direct debits per month included, and you're limited to €20'000 of card payments a month.

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Smart Pack

€289,- for Year 1; €228,- after Year 1

Biggest improvements over Basic:

This option definitely provides the most value per euro spent on fees.

Essential Pack

€399,- for Year 1; €348,- after Year 1

On top of everything included in the Smart Pack, you get:

"Essential" really only makes sense if you expect a high transaction volume in the first year, and having two users with full account access is a deal-breaker for you. Otherwise, you're better off sticking to "Smart" and reinvesting the difference in your business.

Self-Employed & Freelancers

For entrepreneurs and professionals with an existing business entity, Qonto offers a selection of three plans. They are:

Prices shown for annual billing cycle, VAT excluded.

You can compare and contrast these three plans in our comparison table below. Keep in mind that users signing up for Qonto using any of the links provided in this article are eligible for 30-day trial and get a 20% discount when billed annually!

Qonto: Plan Comparison Table (Business)

Qonto logo
Qonto business banking plan comparison table and fee overview.
Feature Basic Smart Premium
Price, per month € 9.00 € 19.00 € 39.00
CommitmentCancel monthlyCancel monthlyCancel monthly
Sign-up bonus 30 days free trial
Sub-accounts included125
Shared Access
Employee Accounts
Mobile Payments
Apple Pay✔️✔️✔️
Google Pay✔️✔️✔️
Samsung Pay
Other methods---
Cards available Mastercard Mastercard Mastercard
Cards included 1 1 1
Debit cards✔️✔️✔️
Credit cards
Virtual cards✔️✔️✔️
Extra card fee € 2.00 p/m - -
Replacement fee € 10.00 € 10.00 € 10.00
Free replacements---
Metal card
Wooden cards
Payment Methods
Various Fees
SWIFT (receive) € 5.00 € 5.00 N/A
Foreign exchange fee 0.80% 0.70% 0.70%
Currency fee-free limit - - -
ATM Withdrawals
Daily limit € 1,000 € 2,000 € 3,000
Free withdrawals, per month - - -
After that, per withdrawal € 1.00 € 1.00 € 1.00
Withdrawal fee abroad € 1.00 € 1.00 € 1.00
Interest Rate
Current accounts
Savings accounts
Transaction & Deposit Limits
Deposit limit € 60,000 € 80,000 € 80,000
Deposit Protection Up to €100'000
Monthly spend limit € 20,000 € 60,000 € 60,000
Other financial products
Investments in-app
Crypto trading
Cheques Up to €30,000 Up to €30,000 Up to €30,000
Lounge access
Transaction categorization ✔️ ✔️ ✔️
Purchase protection
Round-up savings
Cash Flow Control ✔️ ✔️
Deals & Discounts ✔️ ✔️ ✔️
Other benefits Cash flow dashboard Supplier management Invoicing tool
Learn more
Go to

Plans for Micro-Businesses (<10 employees)

Expanding your business beyond just being a one-man operation is tough. This business segment frequently feels underbanked, so seeing a whole range of options for micro-businesses is refreshing.

However, in reality, none of these plans are unique or new. "Qonto Essential" is the same plan as the one offered to companies created via the "Essentials Pack", while the two other options, "Business" and "Enterprise" are exactly the same plans as the ones offered to larger businesses (read below!). Doesn't mean they're bad plans, but it might be a bit misleading!

Qonto for SMEs (10-250+ employees)

For an established business with dozens of employees, the French neobank also offers three plans to choose from. Each of these comes with a dedicated account manager, priority 7 days-a-week customer support and 80+ exclusive integrations with third party financial tools.

The three "heavy hitters" are:

Prices shown for annual billing cycle, VAT excluded.

Qonto digital bank interface on desktop.

Qonto's apps on both mobile and desktop have a convenient and neat UI.

Qonto: Pros & Cons


The French fintech offers a wide range of financial products and offers impressive flexibility, thanks to its wide selection of plans. Here are the top benefits that might make you consider Qonto as your company's bank.

  • Plus sign
    Best of Both Worlds: Even though Qonto positions themselves as a digital-first and very mobile bank, you can still get your fix of face-to-face interaction thanks to an ability to get in touch with your individual account manager.
  • Plus sign
    Bookkeeping Made Easy: Thanks to dozens of integrations already built and tens of others coming soon, automating the boring parts of your business has never been easier!
  • Plus sign
    Expenses & Cash Flow Management: Set transaction limits for each of your cards online in just a few clicks. You can easily keep track of all related expenses in real-time.
  • Plus sign
    Easy Switching: Qonto offers the first-ever bank mobility service for professionals (that's how they call businesses in France). For bigger companies, a dedicated "switch support" team is available.


However, Qonto isn't perfect either. Below are some of the shortcomings and downsides of its banking product anyone interested in signing up for Qonto should keep in mind.

  • Minus sign
    Not a Bank (Technically): Qonto is not a bank but a payment institution supervised by the Banque de France. Customers' funds are secured with Crédit Mutuel Arkéa and covered by the 'Fonds de Garantie des Dépôts et de Résolution' (FGDR) up to €100,000. That's also why cash deposits are not allowed at Qonto, just like loans or overdraft options.
  • Minus sign
    Expensive: Despite an impressive product portfolio and a few unique features, Qonto still comes out quite a bit pricier than most other digital-first options, in line with other French banks.
  • Minus sign
    Too French For Some: Despite being available in multiple countries, Qonto still has a French-first focus, so you might encounter some imperfections in app's localization.
  • Minus sign
    SEPA Transfers & Direct Debit Limit: You'd expect these to be unlimited when paying tens of euros a month, yet there's a limit to free operations each month.

Bank Accounts for Businesses

Time is money if you're a business owner, franchisee or a freelancer. Discover modern mobile-first bank accounts for companies of any scale and explore unique features and products built for digital-native business owners.

Business banking on mobile.
Qonto contactless payments with real-time notifications.

Qonto: F.A.Q.

As with any pricing structure offered by a French bank, Qonto's product is riddled with minor nuances and technicalities. It's not easy to wrap your head around these, so we want to clear up any confusion our visitors experience in this "frequently asked questions" section.

Is Qonto a real bank? Is it safe?

Olinda SAS (the payment institution using "Qonto" as a trade name) is regulated and is overseen by the French Prudential Control and Resolution Authority (ACPR). This authority is representing Banque de France and supervises all of the French banks.

Qonto routinely undergoes finanical and IT audits by the regulators and is subject to countless types of reporting and scrutiny. As an additional legal requirement, all user deposits (up to €100'000 per customer) are insured by the French Deposit Guarantee and Resolution Fund (FGDR). This ensures that the funds in your Qonto accounts are 100% safe at all times.

Can I use Qonto if my business deals in crypto?

In case your businesses' main activities involve storing, purchasing or exchanging digital assets (cryptocurrencies, NFTs and other non-fiat assets), you can still use Qonto. However, you would only be able to use the bank account for your administrative expenses, such as making salary payments to employees, paying your company's bills, etc.

Unfortunately, you would not be able to use your Qonto bank account for transactions to and from customers and/or payments that incur as a consequence of operating platforms used to distribute these assets.

Who can open a Qonto account on behalf of the company?

You can apply to register your Qonto bank account as one of the following:

When in doubt - reach out to Qonto's support team!

Can you have virtual cards at Qonto?

Yes, Qonto customers can get an unlimited number of Mastercard debit virtual cards. These cards support contactless payments, Apple Pay and Google Pay, so you can use them both online and in physical stores. Keep in mind, however, that there is a spending limit of €20'000 per month per card.

Can I receive SWIFT payments with Qonto?

Yes, it is possible to receive SWIFT transactions with Qonto. On top of this, not only can you get paid in euro, but you can also do so in 25+ other currencies, including US Dollars, Japanese Yen, Polish Zloty and more. SWIFT transactions take up to 5 business days to arrive in your account. These are facilitated by an intermediary financial services company, Wise, that specializes in cross-border payments.

What are Qonto Flash Cards?

Flash cards are disposable virtual Mastercard debit cards that aim to be the perfect solution for teams' one-off expenses. Using flash cards enables you to streamline the payment experience for standalone purchases. You can set a budget and a duration specific to the exact need, whether it's covering the employee travel expenses or paying for a dinner with your colleagues.

Using Flash cards, it is also possible to pay online or offline by adding it to Google Pay / Apple Pay. Flash cards expire automatically on the date chosen when setting one up, so you do not need to worry about disabling one after you succeed with your transactions. Flash cards offer the same insurance, assistance benefits, and billing as Qonto One cards.

Qonto: Alternatives to consider

Does the product portfolio of Qonto lack something you are explicitly looking for? Perhaps, you are looking for a company account in a different price range? Or do you want to find a more powerful solution for your needs? Below, we will provide you with three Qonto alternatives other users found relevant.


Finom is a Dutch financial technology company and an "all-in-one expense management, invoicing and cash flow monitoring solution". It comes at a reasonable price point and is better suited for companies looking to continue using their existing bank accounts. Thanks to Open Banking, you can connect all your banks to your Finom account and enjoy a convenient and complete cash flow overview in a modern UI. Finom also has a free plan available - and that comes with a standalone IBAN, so it's definitely worth a try!

General Information

  • Deposit ProtectionUp to €100'000
  • Customer SupportChat, Whatsapp, Email
  • CurrenciesEUR

Bank Accounts

  • Individualsno
  • Businesses Free plan available
  • Jointno
  • Convenience & User-friendlinessStarStarStarStarStarStarStarStarStarStar empty
  • Customer SupportStarStarStarStarStarStarStarStarStarStar empty
  • Features AvailableStarStarStarStarStarStarStarStarStar emptyStar empty
  • Value for MoneyStarStarStarStarStarStarStarStar half-fullStar emptyStar empty
  • Overall RatingStarStarStarStarStarStarStarStarStar half-fullStar empty


If you're running an online business, rarely receive cash payments and (rightfully so) consider cheques to be as outdated as VHS tapes or fax machines, bunq might just be the bank for you. Latest Dutch fintech unicorn available to businesses all over the EU enjoyed explosive growth in the last years, and it's easy to see why. Affordable plans, up to 25 sub-accounts each with its individual IBAN for easy cash flow management, mobile-first approach and nice features like receiving contactless payments using nothing but your iPhone via Tap to Pay.

General Information

  • Deposit ProtectionUp to €100'000
  • Customer SupportChat, email
  • CurrenciesEUR, USD, GBP + 12

Bank Accounts

  • Individuals Free plan available
  • Businesses Starting at €7.99
  • Jointyes
  • Convenience & User-friendlinessStarStarStarStarStarStarStarStar half-fullStar emptyStar empty
  • Customer SupportStarStarStarStarStarStarStarStar emptyStar emptyStar empty
  • Features AvailableStarStarStarStarStarStarStarStarStarStar half-full
  • Value for MoneyStarStarStarStarStarStarStarStarStarStar half-full
  • Overall RatingStarStarStarStarStarStarStarStarStar half-fullStar empty


Looking for something equally French? Anytime for businesses and professionals might just be up your alley. It can also be considered a "middle ground" between traditional and mobile-first banking, but unlike Qonto, it's leaning more towards the former.

General Information

  • Deposit ProtectionUp to €85'000
  • Customer SupportPhone, chat, email
  • CurrenciesEUR

Bank Accounts

  • Individualsno
  • Businesses Starting at €9.5
  • Jointno
  • Convenience & User-friendlinessStarStarStarStarStarStarStarStarStar emptyStar empty
  • Customer SupportStarStarStarStarStarStarStar half-fullStar emptyStar emptyStar empty
  • Features AvailableStarStarStarStarStarStarStarStar half-fullStar emptyStar empty
  • Value for MoneyStarStarStarStarStarStarStarStar half-fullStar emptyStar empty
  • Overall RatingStarStarStarStarStarStarStarStar half-fullStar emptyStar empty
Qonto has a few features that will help you take control over business expenses.

Verdict: Qonto - solid choice for business banking?

Qonto is best described as a top-notch digital bank that is unequivocally French. What does that mean? Well, despite the last few decades where digitalization worldwide pushed for impersonal, fully online text-based communication, business in France made an impressive effort to resist that. Deals just won't happen without some chit-chat, a few smiles and handshakes here and there. Thus, as the whole world embraced banks' post-COVID efforts to make sure they never need to see you at their branch, French people actually don't seem to mind the chore of going to a bank every month.

On top of this, business banking just wouldn't feel right to a French entrepreneur unless it comes with an absurd amount of paperwork and interactions with notaries, consultants, account managers and other clerks. The amount of manual effort going into this is then used to justify ridiculous fees banks impose on customers.

Surprisingly though, neobanking behemoths like Revolut had a very hard time taking off, despite being way cheaper and ten times more convenient. Which is why the real USP of Qonto is being a "half/half" option for people tired of traditional banks because of how slow they are or how they lack flexibility, but not yet ready to dive deep into mobile-only banking world.

All in all, Qonto might be a great choice in a few cases: if your business has very specific banking needs and wants their bank to be as flexible as possible; if you strongly prefer having a dedicated account manager you can always reach out to; or in case you need to deal with cheque payments (something other digital-first banks rarely get involved with).

Either way, it feels like Qonto found their niche - its audience sits somewhere between two extremes: "Macbook and hoodie" millennial tech entrepreneurs and old-school "pen and paper" businessmen resisting the digital revolution. Do you fit in?

Qonto's user-facing interfaces on all platforms are equally convenient.

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