FAQ

• What is Finom?

  Finom is a European fintech company built for entrepreneurs and small to medium-sized enterprises. We believe that small businesses are the foundation of the European economy, so our goal is to simplify the lives of those who provide for half of Europe. We came to bring the technologies of the future to business management processes for entrepreneurs, enabling them to spend their resources where it matters the most: on their businesses and themselves. That’s why we combined all these different financial services, such as accounting, financial management, and a business account, into one convenient solution. Early-stage businesses can sign up for an online account within minutes and immediately enjoy our features’ advantages via our mobile and web apps.

• Does your support team speak my language?

  Of course! Our customer care 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.

• Do I get a Spanish IBAN?

  Yes, you will! Finom has a license that allows customers to receive a Spanish IBAN.

• How safe is my money with Finom?

  Your money is in safe hands because we strive to provide a high level of security to protect it:

  • With cutting-edge measures such as Passkeys and the added shield of 3D Secure, confidence accompanies every transaction.
  • Your account is exclusively linked to your smartphone, providing an additional layer of protection, while real-time push notifications keep you informed of all account activity.
  • Harnessing the power of artificial intelligence and machine learning, our platform is fortified to safeguard your account against financial crime and card fraud.
  • The app allows you to customize security to your preferences: you can instantly block or freeze your cards, modify your PIN, and set up spending limits and access controls.

  For accounts operating under Finom’s own licence, there are also legal regulatory measures of the institution providing your business account in addition to the security measures on the Finom platform and applications provided by PNL Fintech B.V., i.e. Safeguarding your account via Finom Payments B.V.:

  • When you add money to your Finom account or receive payments, we ensure that the equivalent value of electronic money is placed in your account.
  • It’s important to note that your Finom payment account isn’t a deposit account, which means we can’t pay you interest due to legal restrictions. But rest assured, we keep your money safe and never lend it to anyone else.
  • We’ve established a separate Safeguarding Foundation, supervised by the DNB, to manage your money as safeguarded customer funds.
  • We’ve partnered with reliable European banks like BNP Paribas to hold your funds. BNP Paribas is one of the largest banking groups in Europe, minimizing any risk.
  • Even in unlikely scenarios, such as Finom or BNP Paribas facing bankruptcy, your safeguarded customer funds remain protected. They are not accessible to Finom’s creditors and would be returned to you under the supervision of the DNB. For more information, please refer to the Terms of Finom Payments.

  For accounts operating under Solaris licence, there are also legal regulatory measures of the institution providing your business account in addition to the security measures on the Finom platform and applications, i.e. German Deposit Guarantee Scheme (DGS), where your money may be protected for up to €100,000 via Solaris SE and not PNL Fintech B.V. For more information, please refer to the Terms of Solaris SE.

• Is my data safe with Finom?

  Finom protects your data and guarantees the highest level of security: Finom has no access to your online banking credentials, and they are double-encrypted (for additional protection) using passkeys or a one-time password that must be entered each time you try to log in). All data transfers are transmitted over TLS-encrypted channels and are thereby protected via end-to-end encryption. We do not store your personal data against your will or without your explicit consent, Finom is GDPR (DSGVO for Germany and RGPD for France) compliant, which means that you can revoke your consent to the processing of your personal data at any time. Finom Privacy Policy regulates the processing of your personal data.

• Under which license does Finom operate?

  PNL Fintech B.V. (Finom) is a cooperating partner of a tech company with a full German banking license Solaris SE (Germany) and an agent of a licensed electronic money institution Finom Payments B.V. (the Netherlands, Belgium, Spain, France, Italy, and other EEA countries). Finom Payments BV (Finom) is a licensed electronic money institution authorized by the Dutch Central Bank, De Nederlandsche Bank (DNB), to operate in the European Union (EU) and the European Economic Area (EEA).

• Who is the legal representative?

  To open your Finom business account, you must be your company’s legal representative. A legal representative is a natural person who is authorized to act on behalf of the company and is empowered to perform all actions related to the general administration of the company under the company's purpose, such as a CEO.

• Which legal forms does Finom support in Spain?

  Currently, we accept Spanish companies with the following legal forms:

  • Empresario individual (Autónomo)
  • Sociedad Cooperativa (S.Coop)
  • Sociedad Cooperativa Limitada (SCL)
  • Sociedad Cooperativa Catalana Limitada (SCCL)
  • Sociedad Cooperativa Catalana (SCC)
  • Sociedad Cooperativa de Crédito Valenciana (SCCV)
  • Sociedad Mercantil Estatal (SME)
  • Fondo de Pensiones (FP)
  • Comunidad de Bienes (CB)
  • Sociedad Colectiva (SC)
  • Sociedad Regular Colectiva (SRC)
  • Sociedad Limitada (SL)
  • Sociedad Limitada Profesional (SLP)
  • Sociedad de Responsabilidad Limitada (SRL)
  • Sociedad Limitada Nueva Empresa (SLNE)
  • Sociedad Limitada Unipersonal (SLU)
  • Sociedad Limitada Laboral (SLL)
  • Sociedad Limitada Laboral Profesional (SLLP)
  • Sociedad de Responsabilidad Limitada Laboral (SRLL)
  • Sociedad de Responsabilidad Limitada Profesional (SRLP)
  • Sociedad Gestora de Instituciones de Inversión Colectiva (SGIIC)
  • Sociedad Gestora de Entidades de Capital Riesgo (SGECR)
  • Sociedad de Inversión de Capital Variable (SICAV)
  • Sociedad Comanditaria (S.Cra)
  • Sociedad Comanditaria por Acciones (SCA)
  • Agrupación de Interés Económico (AIE)
  • Agrupación Portuaria de Interés Económico (APIE)
  • Agrupación Europea de Interés Económico (AEIE)
  • Sociedad Civil Profesional (SCP)
  • Sociedad Anónima - Entidad Gestora de Fondos de Pensiones (EGFP)
  • Sociedad Anónima (SA)
  • Sociedad Anónima Unipersonal (SAU)
  • Sociedad Anónima Deportiva (SAD)
  • Sociedad Anónima Laboral (SAL)
  • Sociedad Anónima Profesional (SAP)
  • Sociedad por Acciones Simplificada (SAS)
  • Sociedades Anónimas Cotizadas de Inversión Inmobiliaria (SOCIMI)
  • Unión Temporal de Empresas (UTE)

• What documents do I need to open an account?

  Whether you are a freelancer or own a company, opening your Finom business account only takes a few minutes.

  You will only need three things for it:

  • The email address and password you used for the pre-registration (if you forgot them, click 'forgot password');
  • Your ID or passport ready to verify your identity;
  • All the information about your business.

• As a US citizen, can I open an account for my business operating in the EU, and is FATCA compliance required?

  Yes, US citizens are eligible to open a Finom business account for their enterprises established in the EU. Unlike traditional banks, Finom, as a licensed electronic money institution authorized to operate in the European Union (EU) and the European Economic Area (EEA), doesn’t require FATCA (Foreign Account Tax Compliance Act) compliance for opening accounts. We strive to provide financial services to all individuals legally running their businesses in the EU, ensuring compliance with relevant regulations governing our operations. Therefore, US citizens can confidently engage with our platform without needing FATCA documentation.

• How can I withdraw funds from my account or make deposits into it?

  A Finom Business Account has all the main services of a traditional bank, such as making withdrawals from the account and depositing funds into it. You can use a SEPA transfer from your other bank account to deposit into an account. To withdraw, you can use your physical Finom card at any European ATM, free amount to withdraw per month depends on your chosen plan.

• Can I make SEPA and international transfers with Finom (like SWIFT or similar)?

  Yes, Finom allows you to send payments within the SEPA zone as well as international payments worldwide