Compare Qonto and other online business banking services. Comparison made on May 5, 2020.
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| Legal forms | SAS, SASU, SARL, EURL, SC, micro-entreprises, professions libérales | SAS, SASU, SARL, EURL, SC, micro-entreprises, professions libérales and associations | Micro-entreprises | Freelancers | Micro-entreprises, EURL, EIRL, SASU, SARL, SAS |
| Monthly pricing | From €9 (excl. VAT) | From €9,50 (inc. VAT) | From €9 (inc. VAT) | Free | From €3,90 (inc.VAT) |
| Capital Deposit | €50 alone, or included in yearly pack | €200 or included in a pack | From €30 (exc. VAT) | N/A | €69 alone, or included in a pack |
| Card transactions in euros | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Non-euro card payment | Free with the X card | €0 per transaction | 1,94% per transaction | €0 per transaction | 1,90% per transaction (with the Premium card) |
| ATM withdrawal | Free with the X cars or €1 per withdrawal (with the One Card) | €2 per withdrawal | Free | 5 free withdrawals, then €2 per withdrawal | €1 per withdrawal (2 withdrawals per month for Premium users) |
| Payment limits | Up to €60.000 per card on 30 rolling days with the X Card | €30.000 per month (with a limit 5.000€ per day) | €3.000 on 30 rolling days | Unlimited | No information |
| ATM withdrawal limits | Up to €3.000 per card on 30 rolling days with the X Card | €5.000 per month | €920 on 7 rolling days | €2.500 per day and max 20.000€ per month | No information |
| In/out SEPA transfers in euros | |||||
| Outgoing SEPA transfers in foreign currencies | Between 0.70% & 0.90% per transfer (18 currencies) | From 0,70% + €2,50 per transfer | 0,1% (minimum transfer amount of €20) | Transferwise pricing | From 0.06% per turnover |
| Incoming SEPA transfers in foreign currencies | Free | Bank fees | 0,1% (minimum transfer amount of €20) | Free | Bank fees |
| Debits | SEPA debits + B2B SEPA debits included | €2 per SEPA debit mandate | Included | SEPA direct debits available and free | SEPA debits included |
| Card reader | 1,75% on transaction amount + €19 for card reader (to pay once) with iZettle | 1,50% on transaction amount + €19 for card reader (to pay once) | 1,75% on transaction amount + €19 for card reader (to pay once) with iZettle | N/A | 1,49% on transaction amount + €19 for card reader (to pay once) with SumUp |
| Type of card provided | Debit Mastercard card | Debit Mastercard card | Visa Premier card or Visa Classic card | Mastercard card | Prepaid Mastercard card |
| Checkbook | |||||
| Check cashing | |||||
| IBAN | French IBAN | French or British IBAN | French IBAN | IBAN depending on market | French IBAN |
| Bank overdraft granted | Maximum of €2.500 | Overdraft is possible up to €10K for all German and Austrian customers |
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| Legal forms | SAS, SASU, SARL, EURL, SC, micro-entreprises, professions libérales | SAS, SASU, SARL, EURL, SC, micro-entreprises, professions libérales and associations | Micro-entreprises | Freelancers | Micro-entreprises, EURL, EIRL, SASU, SARL, SAS |
| Monthly pricing | From €9 (excl. VAT) | From €9,50 (inc. VAT) | From €9 (inc. VAT) | Free | From €3,90 (inc.VAT) |
| Capital Deposit | €50 alone, or included in yearly pack | €200 or included in a pack | From €30 (exc. VAT) | N/A | €69 alone, or included in a pack |
| Card transactions in euros | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Non-euro card payment | Free with the X card | €0 per transaction | 1,94% per transaction | €0 per transaction | 1,90% per transaction (with the Premium card) |
| ATM withdrawal | Free with the X cars or €1 per withdrawal (with the One Card) | €2 per withdrawal | Free | 5 free withdrawals, then €2 per withdrawal | €1 per withdrawal (2 withdrawals per month for Premium users) |
| Payment limits | Up to €60.000 per card on 30 rolling days with the X Card | €30.000 per month (with a limit 5.000€ per day) | €3.000 on 30 rolling days | Unlimited | No information |
| ATM withdrawal limits | Up to €3.000 per card on 30 rolling days with the X Card | €5.000 per month | €920 on 7 rolling days | €2.500 per day and max 20.000€ per month | No information |
| In/out SEPA transfers in euros | |||||
| Outgoing SEPA transfers in foreign currencies | Between 0.70% & 0.90% per transfer (18 currencies) | From 0,70% + €2,50 per transfer | 0,1% (minimum transfer amount of €20) | Transferwise pricing | From 0.06% per turnover |
| Incoming SEPA transfers in foreign currencies | Free | Bank fees | 0,1% (minimum transfer amount of €20) | Free | Bank fees |
| Debits | SEPA debits + B2B SEPA debits included | €2 per SEPA debit mandate | Included | SEPA direct debits available and free | SEPA debits included |
| Card reader | 1,75% on transaction amount + €19 for card reader (to pay once) with iZettle | 1,50% on transaction amount + €19 for card reader (to pay once) | 1,75% on transaction amount + €19 for card reader (to pay once) with iZettle | N/A | 1,49% on transaction amount + €19 for card reader (to pay once) with SumUp |
| Type of card provided | Debit Mastercard card | Debit Mastercard card | Visa Premier card or Visa Classic card | Mastercard card | Prepaid Mastercard card |
| Checkbook | |||||
| Check cashing | |||||
| IBAN | French IBAN | French or British IBAN | French IBAN | IBAN depending on market | French IBAN |
| Bank overdraft granted | Maximum of €2.500 | Overdraft is possible up to €10K for all German and Austrian customers |
As an entrepreneur, you absolutely need to compare the different offers from online banks or neobanks. The benefits might vary from an offer to the other!
Neobanks or banks don't own the same licences as traditional banks. However, they can offer similar services for a business bank account: payment cards, French IBAN, real time payments. They also have an edge: being digital only. You don't need to make an appointment to open a business account or to deposit your share capital. You can use the same services, but better!
Besides fees, you will also want to compare the bookkeeping services that online banks can provide. All entrepreneurs that have done accounting before will confirm it: it's an energy and time wasting task! Having the opportunity to execute it via a banking service will help you focus on your project.
To compare the bank fees is essential. Indeed, online banks don't offer the same price plans and they might differ a lot from one to another. Besides the opening fees, some extra-cost could apply for special features or options. A good indicator of your needs is the legal form of your company!
The customer service is key when talking about online banks. You have to make sure someone will be able to answer your questions when needed! To compare the different customer services, an entrepreneur can always check the review on the internet, but a qualitative comparator will help him to spot the best ones.
