Are there cheaper, more competitive alternatives to Qonto?

Introducing Qonto

Qonto is a online banking which facilitates financial management for businesses, particularly SMEs and the self-employed. It was founded in July 2017 by Steve Anavi and Alexandre Prot.

Dedicated to entrepreneurs, Qonto combines expertise and technology to make the banking experience more pleasant, with an easy-to-use interface.

To date, Qonto has over 1400 employees. It has won over nearly half a million corporate customers and raised 622 million euros from investment funds.

Qonto has 3 offers for independent contractors:

• Le tarif Basic : It is priced at €9 per month and includes 30 SEPA direct debits and credit transfers. It also offers 24/7 customer support.

• Le recipe Smart: at 19 euros ex-VAT per month, it provides customers with several tools to facilitate banking and accounting management. This offer includes :

• 60 SWIFT and SEPA transfers and direct debits

• A billing tool

• 2 cheque cashings from Qonto

• Additional features such as the ability to create a second account

• A "pre-accounting" pack that facilitates the steps preceding the intervention of a chartered accountant, such as invoice processing, receipt certification, VAT auto-detection...

• 24/7 customer support.

• Le tarif Premium : is the most comprehensive formula. It is suitable for SMEs and corporations, and is available at a price of 39 euros (excl. VAT) per month. Entrepreneurs can take advantage of :

• 100 SWIFT and SEPA transfers and direct debits

• A pre-accounting package

• Additional functions

• 5 cheque collections

• A billing tool

Please note that these rates are exclusive of VAT, and correspond to the annualized payment rate. If you pay monthly, you'll pay 20% more. For example, the Basic plan will cost you €13.20 per month incl. VAT.

Qonto also has the advantage of avoid transaction fees for banking services . These are additional charges applied to each transfer. Qonto only charges for international transfers in foreign currencies.

In detail, Qonto subscriptions offer the following additional features:

Centralize invoices

All customer and supplier invoices can be found in a unique tool . The platform makes :

• customer billing management

• instant transfers

• transaction monitoring

It even lets you create and send quotes and invoices!

Managing team expenses

It also lets you allocate budgets and delegate their management to your team. Validation circuits ensure efficient expense control.

An accounting management tool

The Qonto platform offers automatic VAT entry and supplier data. It also lets you transfer receipts by e-mail, so you never lose them again.

Who are Qonto's competitors?

Qonto's competitors include :

• Hero

• Shine

• Hello Bank Pro

• Revolut Business

• N26 Business

• Blank

• Monabank Pro

Hero is the first solution that lets you open a free pro bank account with bank card!

Summary of Qonto's competitors :

Hero

Hero is the only comprehensive financial partner for SMEs.

In addition to offering free bank account and payment cards, Hero automates your accounting offers flexible financing for your cash flow needs, and provides you with a payment platform to easily integrate into your website.

Hero's online payment platform enables you to offer your customers :

• Cash payments

• Deferred payments up to 60 days

• Payment in instalments (3 or 4 times)

Hero propose des simplified financing solutions and adapted to every situation, as well as plugins developed for a better e-commerce experience. And there's even a TPE available to manage everything from a single source.

Hero offers no hidden costs: no commitment, no subscription, no integration fees. Make an appointment with our experts!

Shine

The main advantage of Shine is its simplicity and ease of use, thanks to its interface intuitive . The application lets you easily track your income and expenses while staying financially organized.

Shine is priced at :

• 7.90 for Basic package

• 29 € for the most complete pack

As well as being 100% digital, Shine is also 100% committed to the fight against climate change (they share free content to help entrepreneurs transform their businesses). It measures its carbon footprint every year and is working to reduce it.

Hello Bank

Hello Bank Pro is the online bank of BNP Paribas. It was initially dedicated to individual customers. But Hello Bank ! Pro has extended its services to suit contractors.

The business bank account is free. The Hello Business offer is available at €10.90 ex VAT per month, with VISA card and insurance included.

Thanks to the international network of BNP Paribas Global Network, present in over 50 countries, Hello Bank Pro has won over 3 million customers in Europe.

Hello Bank Pro's service offering remains comprehensive, and even includes cash deposit and overdraft facility. The online bank also offers instant transfers and unlimited SEPA direct debits.

Revolut Business

Revolut Business is a British online bank established in 2015. This mobile bank allows everyone to open a bank account free of charge.

What makes Revolut Business unique is that it allows you to create sub-accounts in different currencies. This makes it easy to pay internationally without worrying about converting at the real exchange rate.

Revolut Business also offers a range of products tailored to all businesses, whatever their size or activity. By 2021, it will have won over 500,000 customers.

Its main advantages as an alternative to Qonto are :

• free subscription

• TPE for credit card payments

N26 Business

N26 Business is a 100% digital online banking which lets you set up a free current account. It offers a digital Mastercard bank card and makes all standard operations possible:

• transfers

• samples

• online and physical payments

N26 Business provides access to management tools for auto-entrepreneurs from €4.90 per month.

The banking player has convinced over 2.5 million French users. In 2017, the German neobank offers dedicated packages for entrepreneurs with simplified financial management and insurance at no extra cost.

Compared with other banks, N26 Business is more flexible when it comes to withdrawals.

Compared with Hero and Qonto, N26 Business is aimed less at SMEs and more at self-employed entrepreneurs.

Monabank

Monabank Pro is an online bank for those looking for top-notch customer service. In 2024, it was voted Customer Service of the Year for the 6th year running. ^e consecutive year.

The neobank offers a dedicated account for entrepreneurs with a Visa Classic card included, as well as free transfers and direct debits. Prices range from €9 to €18 per month.

Blank

Blank is an online bank launched by Crédit Agricole. It is mainly dedicated to micro-businesses and the self-employed .

Blank has extensive banking experience and a solid network of partners. It offers :

• no-obligation offers

• a modern interface

• an efficient cash management dashboard

Choose from 3 business accounts from €6 to €39 per month. Each offer includes a Visa Business card and free SEPA transfers.

This application mobile also includes billing, insurance and accounting functions.

How can you finance your cash flow with Qonto?

The Qonto account cannot be overdrawn. In fact, an insufficient balance prevents any payment, transfer or direct debit from being made until the account is replenished.

Qonto does not offer receivables financing or loans. It only offers a payment facility capped at 10,000 euros, to settle supplier invoices. There are also some partner offers to finance long-term projects and synchronize account data.

Hero, on the other hand, offers a wide range of flexible financing options for which you may be eligible. Hero is one of the best alternatives to Qonto .

Frequently asked questions

Which bank is behind Qonto?

Qonto is an online bank that deposits its funds with Crédit Mutuel.

Where can I withdraw money with Qonto?

You can withdraw money with Qonto from any ATM in France or abroad.

Can I deposit money with Qonto?

Qonto only allows cheques to be deposited. Cash deposit is not yet available!