Qonto Review 2026: Business Account for EU SMEs

TL;DR: Qonto is one of Europe’s largest business-banking platforms (600,000+ customers), pairing a current account with genuinely strong invoicing, expense cards and accounting tools. It is a polished, premium choice for established SMEs in its eight markets — but it has no free plan, runs on safeguarding rather than €100k deposit insurance, and does not serve Malta- or Cyprus-registered companies.

Availability & countries

Qonto opens accounts for companies registered in eight EU countries. You generally need a company registered locally to qualify.

• Served: France, Germany, Italy, Spain, Austria, Belgium, Netherlands, Portugal (the last four added in late 2024).
• Local IBAN: issued in your country of registration across all eight markets.
• Malta & Cyprus: not supported. Qonto publishes IBAN-lookup pages for these countries, but does not open business accounts for companies registered there.

Regulation & deposit protection

Qonto is a licensed payment institution authorised and supervised by the ACPR (Banque de France) since 2018, passported across the EU. It is not a bank as of mid-2026, though it filed a French banking-licence application with the ACPR in July 2025.

• Client money is 100% safeguarded at partner banks (Crédit Mutuel Arkéa, Natixis, Société Générale, Rothschild Martin Maurel).
• No statutory €100k DGS payout today — funds are returned from safeguarding if Qonto fails. DGS cover would only apply if/when the banking licence is granted.

Pricing

No free tier — all plans are paid, with a 30-day trial. Annual billing is cheaper than monthly (prices below are the annual-billing rate, per Qonto’s pricing page, mid-2026).

Non-standard currencies carry a higher FX margin (1.56–1.8%). ATM withdrawals and extra transfers incur fees beyond plan limits. Some plans pay interest on balances (intro rates up to 5% AER, then ~1.25–2.25%).

Key features

• Local IBANs across eight markets; SEPA plus international (SWIFT) transfers.
• Physical and virtual expense cards with per-card limits and real-time controls.
• Built-in invoicing and quotes, plus supplier-invoice and spend-management workflows.
• Accounting integrations and exports (DATEV and others) for clean bookkeeping.
• Team roles, approvals and sub-accounts; open API for automation.
• Note: native multi-currency holding is more limited than dedicated FX players like Wise.

Pros

• ACPR-regulated and well-established (600,000+ customers).
• Excellent spend management and accounting integrations.
• Local IBANs across eight EU markets.
• Polished invoicing, quotes and approval flows.
• Open API plus unlimited virtual cards on higher tiers.
• Interest/remuneration available on account balances.

Cons

• No free plan — entry price is €9/mo.
• Safeguarding only; no €100k deposit guarantee yet.
• Not available for Malta- or Cyprus-registered companies.
• FX margins and extra-transfer fees add up at scale.
• Limited native multi-currency holding.

Who it’s for

Best for established small and mid-sized businesses and teams in France, Germany, Italy, Spain, Austria, Belgium, the Netherlands or Portugal that want one account to handle payments, expense cards, invoicing and accounting. It is not the right fit for Malta- or Cyprus-based companies, heavy multi-currency traders, or anyone who needs bank-grade €100k deposit insurance today.

Verdict

A premium, feature-rich all-in-one for established EU SMEs — superb tooling, but no free tier, safeguarding rather than DGS, and no Malta/Cyprus coverage. 4.2 / 5.

Fees, plans and country availability change frequently. Always confirm the current terms on qonto.com before opening an account.