The Quinto review, we are bringing to market a newest banking tool designed to support modern businesses. Qonto bills itself as an all-in-one account for companies that lets you stay on top of your expenses and improve financial management.
If you are looking for a flexible and transparent banking solution, a challenger from France could be ideal. It’s hard to go wrong with an online banking tool that promises not only security but also transparency, responsive performance and bookkeeping automation all rolled into one.
Let's take a closer look at how Qonto can help you optimize your spending.
What is Qonto?
Qonto is a "neobank" designed for the digital age. 100% online with absolutely no branches to visit. However, like most online banks, this also means that Qonto is ideal for cutting costs and managing your finances in the digital age.
Launched in France in 2017, Qonto is one of the few banking solutions dedicated to the commercial market. The solution has been a huge success, supporting more than 150,000 enterprise customers worldwide.
The bank was also licensed by Prudential in 2018 and is supervised by ACPR, so you can rest assured that your cash is safe.
If you're looking for a bank that gives you more freedom when working with freelancers and contractors in the digital world, or you just want to reduce the clutter of your statement, Qonto is a great choice. The record-setting French bank looks like a email list real contender in the financial markets.
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Advantages and disadvantages of Qonto
There are several factors that set Quinto apart from competing tools in the digital marketplace. The company is currently positioning itself as the second business bank account for numerous small businesses and freelancers across Europe. So far, Qonto has received many positive reviews from Trustpilot and similar sites.
Although the fintech company is relatively young, it offers mature and comprehensive financial services to entrepreneurs who want to spend less time on accounting and banking and more time growing their business.
Pros👍
Easily set up accounts for businesses or contractors
Create corporate functions for true beginners
Accounts for any type of business
Real-time accounting support
Simplify team expenses
Customizable debit card
Disadvantage 👎
no branch
Not available in every country
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Qonto Review: Business Account Features
At the heart of Qonto's product is its integrated business account. All accounts offered are "current" accounts, which means you don't have to worry about interest. However, you may have to pay certain fees to your account - we'll be back soon.
Qonto's Central Business Account feature provides a complete environment where you can access the following features:
An easily accessible local IBAN number for freelancers
Mastercard and other payment options
Unlimited transaction history updates in real time
No hidden fees or transfer commissions
Safety Regulation of ACPR
100% online platform with lower fees
Easy-to-approve money transfers
Versatile, no-commitment account options.
The business account service also provides access to a range of accounting functions. For example, you can digitize your receipts and use the included automatic calculator to detect and understand your VAT. All you need to do is scan the receipt to add it to your account.
Easily communicate with accountants. You can grant your accounting viewers access to your account so they can help you with various business documents. Alternatively, you can integrate Qonto with your existing accounting application.
A business account can also order Mastercard cards for your team members along with transaction or expense reports so you can manage your cash flow. Business leaders can also set transaction limits for all their cards.
For users who already have access to an existing business account, you can switch with a quick call to the Qonto team. Expert advisors guide you every step of the way.
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Qonto Review: Company Creation and Service
Company creation is another unique feature that Qonto offers. Essentially, this means you can create a complete ecosystem of financial accounts for your entire team. The system is designed to be very simple, so you can set up shareholder, personal or corporate accounts for every member of your team in seconds.
You will be able to combine funds from different members of your staff and register your company with the relevant official body through Qonto. There's also a simple pricing package that helps you understand how much everything costs. For example, in the first year, you can pay around 12 euros for a 139-month subscription.
Quinto service starts with a standard business account, but there is more to discover. For example, you can choose different kinds of physical and virtual cards for each member of your team, and determine the limits you need for each user.
With these cards you can withdraw up to 3000 EUR per day and you can spend up to 30 EUR in 60,000 days. Plus, tertiary insurance ensures you have absolute peace of mind. Additional features include a personalized PIN, the option to configure your card in real-time, and the ability to block or unlock your card instantly from your smartphone.