Finom vs Qonto: a side-by-side comparison

FAQ

• Who is Finom?

  Finom is your go-to financial platform, born in 2019 in the Netherlands. It started as a smart e-invoicing solution but quickly evolved to become the trusted companion of tens of thousands of entrepreneurs across Europe. We process about €1 billion in monthly transactions, and our reach extends to France, Italy, Belgium, Spain, Poland, and of course, Germany. Such big names in the investment world as Target Global, General Catalyst, and FJ Labs trust us too. With Finom, you can open a business account in a few clicks, fully online. You can manage your finances from your phone or laptop with our mobile and web apps. We cover everything from payments and invoicing to bookkeeping and team access, all with transparent pricing and zero hidden fees. You'll get a local IBAN, free virtual and physical cards with cashback, SEPA & Direct Debit transfers, and much more.

• Who is Qonto?

  Qonto is another player in the European finance management field. They offer digital business accounts and IBANs to self-employed individuals and companies in Germany, France, Italy, and Spain. As well as us, they aim to simplify expense management and save customers' time with an intuitive online platform and transparent pricing, starting at €9 per month if paid annually.

• What subscription plans does Finom offer?

  We offer several subscription plans to suit your needs: Solo Plan Perfect for freelancers, it’s completely free and packed with features to simplify daily tasks. Get an IBAN ready in 24 hours, free virtual and physical VISA debit cards, Apple Pay and Google Pay, invoicing tools, and multibanking – all within an intuitive app with no hidden fees. Plus, our lightning-fast support team is always ready to assist. Start Plan Tailored for startups, this plan costs €7 per month (when paid annually). Manage your business account with a partner, enjoy 2% cashback that can offset your monthly cost, and use powerful accounting integrations and invoicing tools. Quick in-app support is included. Premium Plan Ideal for SMEs, this plan is €24 per month (when paid annually) and supports up to 5 team members for seamless delegation and expense tracking. Issue unlimited virtual debit cards with 3% cashback, set individual limits for team members, and enjoy higher ATM withdrawal, SEPA, and Direct Debit limits. Corporate Plan Designed for growing businesses, this plan accommodates up to 10 team members and costs €119 per month (when paid annually). It offers unlimited cashback with no cap, visual money flow analytics, advanced expense management tools, and €5,000 in monthly ATM withdrawal limits. Enterprise Plan Our most comprehensive plan, perfect for medium-sized businesses that require advanced tools. It accommodates up to 15 team members and costs €249 per month (when paid annually). Get the highest unlimited cashback, €200,000 monthly card payment limits, unlimited SEPA OUT & Direct Debit transfers with no fees, and all other financial tools to help your business shine.

• Are there free subscription plans at Qonto?

  No, Qonto's Basic plan starts from €9 per month if paid annually and doesn’t include invoicing. But guess what? Our free Solo plan comes with invoicing included!

• I’m a freelance photographer, are free Solo plan features at Finom enough for me?

  Absolutely! Our free Solo plan is tailor-made for freelancers and solo entrepreneurs. It includes all the essentials for your business, like a German IBAN, free VISA debit cards, on-the-go payments, smart invoicing, a €500 monthly free ATM withdrawal limit, and up to 50 free SEPA & Direct Debit transfers. And if you decide to upgrade, the cashback might just cover your monthly plan cost.

• I’m moving from Germany to the Netherlands, can I use one of these services there?

  Congratulations on the move! While Qonto isn't available in the Netherlands, Finom is deeply committed to the Dutch market. Our headquarters are there, and we're proud to serve Dutch entrepreneurs with our innovative digital products.

• I plan to run my marketplace and sell beyond the EU, is it real to accept payments from the US and Canada with Finom?

  Sure! Check out our Custom plan, designed for international payments in various currencies. It offers quick transfers from/to 150+ countries (75% of transfers come within the same business day!), competitive currency exchange rates (20+ most popular currencies & no forced conversion), and more. You'll be able to receive and send payments of any amount from around the globe with ease and no hidden fees.

• That’s cool that Finom has cashback, is it fixed?

  No, the amount of cashback depends on your chosen plan, still, it spreads on all transactions made in-store or online with both physical and virtual Finom cards. The higher your plan, the more cashback you'll earn: Start Plan: 2% cashback Premium Plan: 3% cashback Corporate Plan: 3% cashback Just remember that there are a few rules, like a maximum cashback limit per month based on your plan (from €10 to €90). Plus, as Finom VISA cards are eligible for inner VISA promotions and special offers, you’ll benefit from exclusive deals. For instance, until the end of the year 2023, Finom users can get up to 6% cashback from their accommodation purchases at Booking.com thanks to its joint promo with VISA – read here.

• Does your support staff speak German?

  Of course! Our support team speaks all the languages of the countries we cover, like German, French, Dutch, Italian, Spanish, Polish, and more. And yes, English too, of course. So, language won't be a barrier when you need assistance.

• You write about payments coming faster with Finom’s invoicing. What does it mean?

  It literally means you can get paid quicker! We've made it super easy for your customers to pay directly from the invoice page. You spend less than a minute creating an invoice, and then you can send it via email, Facebook, messengers, or by simply copying the direct link. Your customers can securely pay the invoice right from that page with a simple click. It's fast and, best of all, free! You can read a guide where we explain how to enable this option, and why it's easy and convenient for your customers.

• Is Finom secure?

  Absolutely! We use advanced anti-fraud techniques, double encryption, and the TLS protocol to protect your personal and transfer data. Plus, all accounts are covered by €100,000 deposit guarantee scheme via Solaris SE. Your finances are in safe hands with Finom – here, you can read more about our security policy.

• Is it easy to open a business account with Finom?

  Super easy! You can do it all online in under 15 minutes. Just sign up with your email, provide your company details, pass a quick verification, complete the application, and install our app. Once your account is verified (usually in 1-2 business days), you'll have immediate access to a German IBAN, up to 3% cashback, and a bunch of other features.

• I know my friend uses your service, do you have a referral program?

  Yes, indeed! If your friend shares their unique referral link with you, you both get rewarded. You'll enjoy 3 free months on any subscription plan of your choice, and your friend will get a little something from us too. So don't miss out on this win-win opportunity! Check out the full Terms & Conditions and Reward Rules for all the details.