Qonto

What Qonto is, in 2026

Qonto is a payment institution (ACPR-authorised in France, EU-passported) serving around 600,000 European SMEs, freelancers and self-employed professionals. It is the largest dedicated business neobank in the EU.

Feature set: multi-user roles, expense management, invoicing, 100+ accounting integrations (including DATEV for Germany, which most competitors lack), local IBANs in four EU countries, and a physical card offering.

Safety and regulation

Qonto holds a payment institution licence — not a banking licence. Customer funds are safeguarded at Crédit Mutuel Arkéa in segregated accounts. If Qonto fails, funds are in principle returned from safeguarding; there is no statutory DGS payout.

For a business operating account (with funds in-out regularly), this protection gap is acceptable. For long-term parked cash over €50k, consider splitting between Qonto (operations) and a full-bank business account.

Hands-on UX

The interface is genuinely SME-first: receipt capture, VAT tracking, auto-categorisation, and a team-permissions system that actually works. The accountant export flow is the most polished we've tested in the category.

Weaknesses: no credit lines or loans, no multi-currency accounts (Wise Business does this better), and pricing gets steep on the higher SME tiers once you add seats.

Who Qonto is for

Choose Qonto if: you run a solo business or a small EU team, you need proper accounting integrations with DATEV / Xero / QuickBooks, and you want local IBANs in multiple EU markets without opening separate accounts.

Look elsewhere if: you need true multi-currency (Wise Business), you want deposit-insured business cash parking (a traditional bank), or your business is fundamentally international (Wise or Revolut Business).

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