The No.1 online business account in Europe

At Qonto, an identity document must be provided when opening a business account. This is essential to combat fraud, money laundering, and the financing of terrorism.

Here are the identity documents accepted by Qonto:

• identity card;
• passport;
• electronic residence permit.

In Belgium, all legal forms of business can open a business account with Qonto. This includes:

• limited liability companies (SRL);
• public limited companies (SA);
• cooperative companies (SC);
• general partnerships (SNC);
• limited partnerships (SComm);
• simple companies.

It is also possible to open a business account for:

• registered associations;
• companies in the process of being created.

Note that Qonto refuses to open a business account for certain types of activities. This includes companies that:

• sell tobacco;
• market medicines;
• engage in insurance brokerage;
• conduct illegal or sexual activities.

Are you banking banned and unable to open a business checking account with a traditional bank? Open an account with financial players like Qonto to start your business quickly. You will avoid the procedures to access basic banking services with Argenta, ING Belgium, or KBC Bank, for example.

The Qonto business account was created by professionals, for professionals. Our services adapt to your needs, regardless of your activity.

Whether you are a craftsman, retailer, or construction professional, Qonto allows you to keep control of your business finances. Even when you are on the move.

Indeed, you can:

• make expenses using your Mastercard and pay in foreign currencies without commission;
• make SEPA transfers and international transfers;
• manage your client and supplier invoices from a single interface;
• control your professional expenses and track your budgets in real-time from your dashboard;
• connect your external bank accounts and save time on preparing your accounting.

Everything is designed to reduce the time spent on administrative tasks and focus on the essential: the development of your business.

Do you work in an agency? Invite your team to join you on Qonto to optimize your expense management, digitize receipts, and put an end to expense reports.

Do you have a store? Accept card payments with your mobile payment terminal (TPE).

Do you work in transport? Use your Mastercard cards to make your expenses and configure them in real-time. Also, enjoy your travel insurance and legal assistance included with each payment card.

In Belgium, opening a business bank account is mandatory in certain cases. It all depends on the type of business you want to create:

• if you are forming a company (SA, SNC, SCS, SPRL), you are required to open a business bank account;
• if you are self-employed, you can use a private bank account for your business expenses and purchases.

In any case, you must open an account with a financial institution to separate your personal transactions from your business transactions. The number of this account must appear when registering your business with the Crossroads Bank for Enterprises (BCE), the official database of the Belgian State. It must also appear on all your commercial documents (quotes and invoices in particular).

Even if you are not required to have a business account as a self-employed person, it is strongly recommended to open one for your business.

Why open a business account?

The business account offers many services and products to business leaders and individual entrepreneurs. Services that are not available with private checking accounts.

The advantages of a business account are numerous for the business owner. For example:

• access to payment methods adapted to business management (credit card or debit card, mobile payment terminal, etc.);
• request a bank loan;
• subscribe to professional insurance;
• benefit from an invoice management solution.

The business account also allows you to separate your business transactions from your personal transactions to obtain a better view of your financial situation and simplify your daily management.

The separation of accounts also facilitates tax audit operations. Indeed, the tax administration could be interested in your private accounts if you do not have a business account. And it will be more difficult to prove that an expense is professional if you only have a personal checking account.

Finally, the business account facilitates the management of company accounting and allows you to contract a loan for your company.

At Qonto, you have access to a French IBAN and multiple financial services, such as:

• professional payment methods (Mastercard, TPE, etc.);
• SEPA transfers to send and receive up to 10,000 euros in just 10 seconds;
• international transfers to pay in foreign currencies;
• a unique interface to track all transactions related to your activity.

Qonto simplifies your accounting management on a daily basis. No more manual entry: our tool can automatically detect VAT and the most important data from your invoices. You can also create custom labels for a clear overview of your expenses. Similarly, you no longer need to manage paper receipts. You can simply scan your receipts: they retain their legal value.

Don't want to manage your accounting yourself? You can give read-only access to your accountant or accounting expert to facilitate their work.

Qonto also helps you better manage your client and supplier invoices. For example, you can:

• create and send your quotes and invoices wherever you are;
• track your payments and remind your clients if necessary;
• receive instant transfers from your clients;
• be notified in real-time of every movement on your business account.

Thus, you can keep control of your professional expenses with a 100% online solution designed for your needs. And even on the go, since you can manage everything from your smartphone.

Need more information? Feel free to contact our customer service. We are at your disposal to answer all your questions.

Each business may have very specific needs. Therefore, you need to define your company's current and future expectations to establish a list of the best banking offers based on your situation.

Consider:

• the services you need (credit card, debit card, international transfers, expense management tool, invoice creation, etc.);
• the need to perform frequent transactions at the counter;
• the volume of transactions;
• your budget.

Then compare the different offers using an online comparator and look into additional services that may be offered, such as:

• professional insurance;
• accounting tools;
• business creation assistance.

The rates charged and the quality of customer service are also elements you should consider.

Should you open a business account online or turn to an online bank or a traditional bank? It all depends on your expectations.

Traditional banks

The first solution to open a business account is to go to a traditional bank branch. These financial institutions offer a complete range of services like savings or cash deposits, but they do not always have the right products for a professional activity.

Moreover, traditional banks generally have higher rates than online financial institutions. As for the account opening process, it is often more complex.

Online banks and neobanks

Online banks and neobanks, like N26 or Hello Bank, try to attract entrepreneurs looking for a business account. They offer business-adapted and cheaper offers than traditional banks since they do not have physical branches.

Account opening, transaction management, subscription to savings and credit products: all services are accessible via computer or smartphone.

However, many of them overlook services dedicated to professionals. Services that are essential for the financial management of your business.

The Qonto business account

Qonto offers a business account perfectly aligned with the challenges and daily needs of business leaders. With the Qonto app, managing your business account is at your fingertips since everything is done online.

100% digitalized expense reports, automatic retrieval of supplier invoices, real-time budget allocation and tracking, or connecting Qonto to your accounting tool: you truly save time on your financial management. The goal? To focus on what really matters.

Many reasons can lead an entrepreneur to change financial institutions for their business account. For example, to benefit from more attractive rates, avoid hidden fees, access services dedicated to their business, enjoy more responsive customer service, etc.

Want to try Qonto's services? Take advantage of our banking mobility service and change your business account with peace of mind.

To avoid any unpleasant surprises during your bank account change, we help you make a detailed inventory of automatic debit mandates and recurring transfers to transfer.

Once your Qonto business account is open, you can inform all your partners and providers of the change in your banking details. You can also close your old business bank account.

No worries, a member of our team will assist you for free in all your steps.

Opening a business account is generally free. However, many traditional banks and online banks charge monthly fees that can be high.

They may concern:

• the management of the business account;
• access to a credit or debit card;
• the execution of SEPA transfers, international transfers, and standing orders;
• cash withdrawals at ATMs;
• access to additional products (accounting tools, for example).

At Qonto, the rates are clear and transparent. Whether you are a business creator, self-employed, or the head of a small or medium-sized enterprise, you will surely find a plan suited to your activity.

Here are our different plans:

• Basic at €9/month excl. VAT;
• Smart at €19/month excl. VAT;
• Premium at €39/month excl. VAT;
  

• Essential at €49/month excl. VAT;

• Business at €99/month excl. VAT;
• Enterprise at €199/month excl. VAT.

Are you at the head of an SME? You can even opt for a custom plan. Simply contact our customer service to explain what you need to manage your business daily. And always without hidden fees.