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What is the difference between Qonto and a traditional bank account?
What is the difference between Qonto and a traditional bank account?

Payment institutions and banks

Updated over a week ago

Qonto is a payment institution supervised by the Banque de France (under number CIB 16958).

We allow existing companies as well as companies that are under the registration process to benefit from a current account and all the means of payment they need to run their activity efficiently :

  • Debit cards (physical, virtual, and instant cards)

  • Instant transfers

  • International transfers

  • Check deposit (only to companies registered in France)

However, these are the main differences between your Qonto account and a traditional business account:

  1. Your Qonto account cannot be overdrawn.

  2. We do not allow cash deposits.

  3. We provide loans through our partners. Know more about our offers, available through the financing section, in this article.

  4. With Qonto, you have all your finance needs safely organized under one roof, whether you’re alone or leading a team :

  • Collaborate as a team: Order payment cards online for your team, instantly create virtual cards to pay online, control your spending by defining payment limits per card, invite your accountant in 'read-only' mode and download your transaction history (and attachments) for seamless accounting.

  • Say 'Goodbye' to paper: Gather your suppliers' invoices and your employees' receipts in your Qonto account. You will never ever chase receipts or invoices at the end of the month again.

  • Manage all your Customer and Supplier invoices in Qonto: Get paid quicker with Qonto’s invoicing tool and save precious time on your supplier invoices management.

  • Connect your Qonto account to your favorite applications: Whether it is your CRM, your payroll, or invoicing software – gain efficiency with our third-party integrations.

  • Rely on stellar customer service available at all times: Our customer support is available 7 days a week to answer all your questions, in just a few minutes via chat on mobile or computer.

  • Always understand what you pay for: Qonto's mission is to offer you a business account at a fair and transparent cost. You can always see in real-time the fees you may have to pay for operations outside your package. We explain the calculation of your fees in this article.

  • Have the assurance that your money is protected: At Qonto, your funds are guaranteed by the Fonds de garantie des dépôts et de résolution (FGDR, the French public interest organization whose mission is to protect customers in case of bank failures). Read our article on the protection of your funds.

Start saving time and being more efficient: Sign up for Qonto today!

*Some features are only available on Essential, Business, and Enterprise plans.

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