Qonto reserves the right to withdraw from the Agreement you have entered into and, consequently, to close your business account pursuant to Article 10.2, Title 1 of the Agreement (Withdrawal by the Institution). You will be notified of this decision two months before the closure.
Can I find out the reason for the closure?
In general, we will inform you of the reason for the closure, except in cases where Qonto is not authorised to do so for regulatory reasons. In particular, where the closure is related to anti-money laundering obligations, the prohibition on disclosure set out in Articles 39 and 42 of Legislative Decree 231/2007 applies.
What notice period applies?
Qonto gives notice of withdrawal with a two (2) month notice period, starting from the date the notification is sent.
💡 In the presence of certain circumstances governed by the Agreement under Article 11 - Title 1 (for example, the use of services for unlawful, fraudulent or prohibited purposes under the Agreement), Qonto may terminate the Agreement with immediate effect and without notice, resulting in the immediate closure of your account. 💡
In line with Article 10.3 of the Agreement, in the event of withdrawal by the Institution with notice, a pro-rata refund of the unused subscription fee is provided; in the event of termination for cause (without notice), no refund will be issued.
What can I do after receiving the closure notification?
Open a new account
If you do not already have another business account for your company, open a business account with another institution as soon as possible.
Today you can open an account with an online payment institution or a traditional bank in just a few steps. Here is a link to a market comparison tool :
Download useful documents
1. Transaction export
Download your transaction list export and the attachments that may help you with your accounting.
2. Retrieve your Qonto invoices
- Go to the Settings section in the Qonto web interface.
- Then go to Plan and billing.
- Click on Qonto invoices.
- Select the invoices you wish to download.
3. Share your new IBAN
- Share your new IBAN with your customers: the list of payers is available in the Qonto interface under the Business account > Transactions section. Filter transactions by: Transaction date, Amount, greater than €0.
- Send your new IBAN to the merchants who debit your account: you can find the list by clicking on Business account > Direct debits.
Check your balance
From the date of the withdrawal notification, bring your account balance to €0 before the end of the notice period. Alternatively, you can provide Qonto with the bank details (IBAN) of an account held in your name at a third-party institution.
If the balance is not brought to zero and no bank details are provided for the transfer of the remaining funds, Qonto will close the account and transfer the balance to a technical account, pending receipt of the IBAN of an account held in your name at a third-party institution.
📩 We will send you an email as a reminder 10 days before the account closure.
What happens if I do not empty my account before the end of the notice period?
If your balance is above €0 after the end of the notice period, please contact our Customer Care team and attach an official document with an IBAN within the SEPA zone in PDF format, in the name of your company.
After verification by our team, the remaining balance in your account will be transferred to the provided IBAN within 2 business days.
👆 If your balance is above €0, your account will be deactivated and the remaining funds will be transferred to a technical account pending your IBAN held at a third-party institution to transfer the remaining funds.
Additional documents
If needed, you can request the following documents from our Customer Care team:
- Beneficiary list export
- Account closure certificate (available after the account has been deactivated).
💡 If you have any questions or need support, please contact our Customer Support. If you would like to make a claim, please contact our Claims Department.