Qonto is evolving to better support your daily business needs. To this end, in 2025, we began the process of transitioning from a Payment Institution to a Credit Institution*, applying for authorization to carry out banking activities — an important step in strengthening our structure.
As part of this evolution, we are required to update our contractual terms to align them with the requirements applicable to credit institutions.
This evolution also brings an important change: you'll be assigned a new IBAN that will replace your current one. Your old IBAN will remain active for receiving incoming payments for 13 months from the date the new one is assigned, giving you plenty of time to inform anyone who pays you (clients, employer, institutions, etc.) of the change, without any interruption to your business.
What this means for you: your day-to-day experience with Qonto will remain unchanged. You'll keep the same services, the same plan, and the same pricing.
What are the main changes to the Framework Contract?
The main update concerns the shift from a Payment Account to a Current Account under the upcoming regulatory framework.
The main changes to your contract are as follows:
- The funds in your account will now be protected as bank deposits under European regulations. This means your money is guaranteed up to €100,000 per depositor through the French Deposit Guarantee and Resolution Fund (FGDR).
- Regulatory updates: further changes align the contract with applicable banking regulations, including procedures for contract amendments, periodic communications, the mandatory stamp duty, and the Standard Deposit Protection Information Form.
How does the migration to the new IBAN work?
All customers with an Italian IBAN will receive a new IBAN.
The migration is fully automatic: you won't need to take any technical action within your Qonto account. Your old and new IBANs will work in parallel for incoming payments during a 13-month transition period, giving you time to update your references with third parties without interrupting your business.
For full details on the migration timeline, what to update, and how your account statements will look, see: Why Qonto is updating my IBAN?
Do I need to accept the changes to the updated Framework Contract?
If you agree with the updates: no action is required on your part. The changes will be considered accepted and will automatically take effect no earlier than 17 November 2026, subject to Qonto obtaining the relevant authorization from the competent authorities. We'll let you know once we officially begin operating under the Credit Institution license and the new Contract takes effect.
If you don't wish to accept the updates: you have the right to withdraw from the Contract at any time, without penalties or additional costs, no later than 16 November 2026. Contact our Customer Support to start the closure process.
If you decide to keep using Qonto, plan how you'll manage your IBAN migration during the 13-month transition period to ensure continuity for your business.
Will my Plan, pricing, or services change?
Your plan, subscription fee, and access to Qonto services remain the same. The only change concerns the Stamp Duty, which is mandatory by law once your account becomes a Current Account: €34.20/year for individuals and sole proprietorships (exempt if the average balance is below €5,000), €118.00/year for companies and legal entities (always due). This isn't a Qonto fee, but a tax required by Italian regulations.
Where can I find the updated Framework Contract?
You can access the Framework Contract through two channels:
Notification email: the updated Framework Contract is attached to the email you received about this update.
Your Qonto account:
- 💻 Web: go to Settings > Legal documents
- 📱 Mobile: go to Menu > Settings > Legal documents
If you have any questions after reviewing the contract, contact our Customer Support.
*A Credit Institution is a regulated financial institution authorized to offer a wider range of banking services than a payment institution, including taking deposits and providing credit products. Qonto has applied for Credit Institution status to strengthen the banking framework of your account and support your business in the long term.