We are not a bank. Qonto is operating under the payment services regulation, supervised by the Banque de France.
Qonto is a current account with all classic operations (transfers, card payments, etc.). However, there are three differences between your Qonto account and a traditional business account:
- Your Qonto account cannot be overdrawn and we do not offer loans
- We do not process cheques
- We do not allow cash deposits.
Depending on your activity and your needs, you can either use Qonto as the main account for your business or as a side account for your daily transactions.