For certain activities, the use of the Qonto account is allowed only if specific conditions are met, such as: Registration with certain professional registers, control registers of various Ministries and the Bank of Italy, obtaining specific licences, and, above all, that the Qonto account is not used to process transactions on behalf of third parties.
Businesses that are required to comply with these conditions must include the following activities in their business purpose:
Monetary intermediation;
Financial services activities (excluding pension funds);
Credit activities;
Real estate brokerage activities;
Foreign exchange brokerage activities;
Insurance;
Pension funds;
Auxiliary activities of financial services (management of financial markets, financial consultancy);
Activities of insurance agents and brokers;
Fund management activities.
If your business includes these activities:
You will be able to receive transfers for the work activity you carry out: these funds can be used for normal administrative transactions (e.g., payment of salaries, payment of suppliers, payment of utilities and/or living expenses).
However, you will not be able to reinvest these funds on behalf of third parties or use them for all those activities not authorized by our Payment Institution.
💡 For example: if you are a financial consultant, you can invoice for your consultancy services, but you cannot reinvest these funds on behalf of third parties.