Why is Qonto closing my account?
Qonto reserves the right to terminate the contract that binds us and, as a result, to close certain accounts: Article 9.1.2. Termination at the initiative of the Institution.
An account may be closed for various reasons such as:
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engaging in prohibited activities with Qonto,
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inappropriate use of the account,
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failure to respond to a request for information about your transactions,
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violation of our Terms and Conditions.
As an authorized Payment Institution by the ACPR (Prudential Supervisory and Resolution Authority), we have a duty of vigilance and careful examination of the transactions carried out by our customers. This legal obligation is stipulated in Article L561-6 of the Monetary and Financial Code.
Can I know the reason for the closure?
Our customer support will not be able to provide you with the reasons for the closure. We are legally not allowed to share this information.
What is the notice period to be respected?
For business payment accounts, the notice period to be respected is 30 days from the receipt of a closure notification (Article L314-5 of the Monetary and Financial Code). We will send an email to our clients from the address [email protected].
💡 In some specific cases, Qonto may also close an account without prior notice (Article L561-8 of the Monetary and Financial Code), as stipulated in Article 9.1.2. Termination at the initiative of the Institution of our contract.
What should I do after receiving a closure notification?
Open a new account.
If you do not already have another professional account for your company, open a professional account with another institution as soon as possible.
You can quickly open an account with an online institution or a traditional one. Here is a link to a marketplace comparing offers:
If you encounter difficulties in opening an account, you can follow the right to a bank account procedure, which involves the automatic designation by the Banque de France of a banking establishment. Consult this article for more information.
Retrieve your useful information.
1. Export your transactions
Retrieve an export of your transactions and receipts that could assist you in your accounting.
2. Retrieve your Qonto invoices.
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Go to the Settings section of your Qonto web interface.
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Then, go to Billing and invoices.
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Click on the Qonto invoices section.
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Select the invoices you wish to download.
3. Share your new IBAN.
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Share your new IBAN with your clients: You can find the list of your issuers on your Qonto interface in the tab Business Account > Transactions. Then filter the transactions: When, Amount, is greater than, 0 €.
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Share your new IBAN with organizations that make direct debits from your account: You can find the organizations that make direct debits from your account by going to the Business Account > Direct Debits tab.
Settle your Qonto account.
Bring your account balance to 0 € before the end of your notice period.
📩 We will send you a reminder by email 10 days before the closure of your account.
What happens if I do not settle my account before the end of the notice period?
If your balance is higher than 0 € after the notice period has expired, contact our customer support with a SEPA zone IBAN in PDF format, under the name of your company.
After verification by our services, the balance of your account will be transferred within 2 business days.
💡 If your balance is higher than 0 €, your account will be suspended and any applicable fees will continue to be charged.
Additional documents.
If needed, you can request the following documents from our customer support:
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Export of your list of beneficiaries.
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Account closure certificate (available after the deactivation of the account).