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 Italian IBAN?

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

• How safe is my money with Finom?

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• 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 Italy?

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

  • Ditta Individuale
  • Libero professionista
  • Società in nome collettivo (SNC)
  • Società Semplice (SS)
  • Società a responsabilità limitata (SRL)
  • Società consortile a responsabilità limitata (SCARL)
  • Società a responsabilità limitata semplice (SRLS)
  • Società europea (SE)
  • Società in accomandita per azioni (SAPA)
  • Società in accomandita semplice (SAS)
  • Società per azioni (SPA)
  • Società Consortile per Azioni (SCPA)

• What documents do I need to open an account?

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• 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