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Qonto review

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.

9 €

Management Fee

1

Number of users

30

Local transfers limit

Compare the products from Qonto

Name Product Management Fee Number of users Local transfers limit
Qonto Basic
9 €
1
30
Self-employed account including 1 user and 1 physical one card. It allows up to 30 free transfers
Qonto Smart
19 €
2
60
A low-cost business account solution for small businesses and freelancers. Get 1 physical cards and 2 users included along with a number of features.
Qonto Premium
39 €
5
100
A flexible current account for startups and small businesses. Receive unlimited users, multi-lingual support, customised account access, bulk transfers and more.
Qonto Essential
29 €
2
100
A low-cost business account solution for small businesses. Get 1 physical card and 2 member access, plus a number of other features.
Qonto Business
99 €
5
500
A complete package for team expense management. Up to 5 user access, 10 accounts with individual IBANs and a wide array of advance finance management tools.
Qonto Enterprise
249 €
10
1000
Enjoy the highest limits and complete access to Qonto’s business features. Create unlimited IBAN accounts and benefit from 7-days-a-week VIP support.
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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:

For self-employed

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 account

Opening 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 line

It’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.

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Compare Qonto against other business accounts in Germany

Name Product Management Fee Number of users Local transfers limit
bunq Easy Bank Business
4.99 €
1
N/A
Enjoy zero FX fees on your overseas spending, plus send and receive instant payments with ease. Comes with a complimentary prepaid card.
Commerzbank Founder offer
14.90 €
1
75 per month

Receive 100 € opening your account online and enjoy 14.90 € per month for the first 2 years

N26 Business You
9.90 €
10
Unlimited
A premium business account with free foreign currency payments, cashback and a complimentary insurance package.
Kontist Free Business Account
0 €
1
Unlimited
A free business account for solo self-employed. No hidden costs, convenient account switching service, first-class in-house support. SEPA transfers and direct debit, Visa Business Virtual Debit Card, Google Pay and overdraft facilities.
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Please note these products are not licenced as banks. Check our product review pages for details.
Name Product Management Fee Number of users Local transfers limit
Revolut Business Free
0 €
Unlimited
5
A no monthly fee business account designed for small teams. Hold 28 currencies in your account and get 5 free local transfers.
Qonto Basic
9 €
1
30
Self-employed account including 1 user and 1 physical one card. It allows up to 30 free transfers
Revolut Freelancer Professional
7 €
Unlimited
20
A professional account for up to users. Hold and exchange 28 currencies, get user permissions, expense management and more.
Qonto Premium
39 €
5
100
A flexible current account for startups and small businesses. Receive unlimited users, multi-lingual support, customised account access, bulk transfers and more.
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Frequently asked questions

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