If you're a freelance professional or an SME owner looking for easy financial solutions, Qonto may have an account for you.
Qonto is an online-only business account that launched in France in 2017 and offers accounts tailored to meet the specific needs of SME owners, startups and freelancers. Qonto has counted over 100,000 clients to date, and in January 2020 it continued to extend its footprint in Europe by launching operations in Germany.
Use this guide to learn what you need to know about each type of Qonto business account.
Number of users
Local transfers limit
How does Qonto work in Germany?
Qonto offers a wide selection of business accounts, with three unique plans tailored to each of its client types (9 plans in total) — self-employed, SMEs and business creators.
Each plan comes with a 30-day free trial and the following features:
- A Mastercard One debit card with which to pay in Euros for free, withdraw cash at a cost of €1 (+ VAT) – up to a limit of €1000 per month – and a 2% charge for payments in foreign currency.
- Accounting and expense management with unlimited transfers list updated in real-time; the uploading of payment receipts via camera; and the exporting of transactions in PDF or CSV formats.
- Automate your business finance management with various app integrations and analytics.
What business accounts does Qonto offer?
Here’s a rundown of the different types of corporate accounts offered by Qonto:
Three affordable plans to help freelancers and independent contractors streamline their business finances:
For SMEs and startups
Three corporate accounts suited to meet the growing needs of co-founders, SMEs, and startup ventures:
For business creators
Three packages designed to help new businesses bootstrap their startup costs:
Qonto physical card options
On top of the free One Card that’s included in every plan, Qonto also offers two other physical card options that come with added benefits and perks.
Here are what you can get from each of these cards:
Is my money safe with Qonto?
Qonto holds a ‘payment institution license’ and so it isn’t technically a bank. However, Qonto is supervised by the same authority as the major French banks: the ACPR, and is subject to regular controls and compliance checks.
All fund deposited by customers are segregated with Crédit Mutuel Arkéa and are covered by the Deposit Guarantee Fund (FGDR) up to €100,000, which will be repaid directly to the customer should Qonto become insolvent.
Access to the site and your transactions are protected by Qonto’s mandatory two-factor authorization process; and by the implementation of a 3D-Secure system, which should bring you added peace of mind against fraud.
How to apply for a Qonto accountOpening a Qonto Business account is very simple and only takes a few minutes. By applying online, it’s possible to register in a few steps and these include confirming your email address, mobile phone and choosing a secure password.
You will need to include some details about your company: this may include its registered office, company name, date of incorporation and company registration number (or tax code, in the case of self-employed or freelance professionals).
Then, once you’ve confirmed that you are a legal representative of the company, your personal data will need to be verified. This can be done by uploading a valid identification document.
Finally, you’ll need to choose your Qonto profile among the three available options. A contract will need to be signed before you can then take advantage of a business account with an IBAN that’s ready to use.
Bottom lineIt’s clear that Qonto is set up to deliver fast and easy digital processes that can meet a range of small business finance needs. As this is all done online, you’ll not need to waste time by visiting bank branches. It can be very quick to open an account and the month’s free trial of its services is a big plus.
What’s more, Qonto Basic offers a cheap and convenient solution for all freelancers who need a business current account without spending huge amounts.
Before you settle on a provider that works for you, it’s a great idea to compare a range of business banking options.Back to top