Updated September 28, 2026 · VaultCue Editorial Team
Bank South Pacific vs Qonto
Qonto
Bank South Pacific
Higher score in this comparison
What sets them apart
| Compare | Bank South PacificReviewSee alternativesSee alternatives | QontoReviewVisitVisit |
|---|---|---|
| Monthly fee | PGK 0 | €19 |
| Currencies | 22 | from 30 |
| Transfer fee | low transfer fees | 30 SEPA transfers/month included, then EUR 0.20 per extra transaction (Basic plan) |
| Licence type | Not confirmed | Payment institution |
| Deposit protection | Not confirmed | EU DGS up to EUR 100,000 |
| Currency conversion fee | Not confirmed | 0.8% to 1.8% |
| Local account details | Not confirmed | IBAN |
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Key differences
- Bank South Pacific scores higher overall: 9.6 vs 8.7.
- Founded is lower at Bank South Pacific: 1916 vs 2017.
- Qonto is available in 1 more country.
- Support channels: only Qonto offers Chat, Help centre.
Our verdict on each
Bank South Pacific
Bank South Pacific suits anyone living in Papua New Guinea who wants everyday banking without a monthly charge, and the Plus Saver account pays a variable rate of 3.5% with no minimum balance. Fees stay low across the board, and support runs on phone and email.
Qonto
Qonto suits businesses and freelancers who want their day to day banking in one app and will not chase the highest rate. The monthly fee of €19 is the trade off, and the 1.5% headline rate ranks 350 of 473 brands.
Score breakdown
| Area | Bank South Pacific | Qonto |
|---|---|---|
| Cost | Not confirmed | 8.8A monthly fee of €19 on the standard plan and a minimum deposit of €0, against a site median of €0 |
| Offer | 9.1 | 9.1Headline rate of 1.5% is variable and sits at 350 of 473 |
| Trust | 9.8Higher | 8.3 |
How they place
| Ranking | Bank South Pacific | Qonto |
|---|---|---|
| Current and checking accounts | 26 of 885 | 1 of 885 |
| Savings accounts | 49 of 1420 | 8 of 1420 |
Every fact side by side
| Fact | Bank South Pacific | Qonto |
|---|---|---|
| Audience | Not confirmed | Business, Freelancer |
| Pricing model | No monthly fee | Not confirmed |
| Features | Not confirmed | Digital only |
| Legal entity | BSP Financial Group Limited | QONTO |
| Headquarters | Papua New Guinea | France |
| Founded | 1916Lower | 2017 |
| Support channels | Phone, Email | Chat, Phone, Email, Help centreCovers more |
Savings
| Fact | Bank South Pacific | Qonto |
|---|---|---|
| Headline rate | 3.5%Higher | 1.5% |
| Rate type | Variable | Variable |
| Minimum deposit | PGK 0 | €0 |
| Access terms | 24/7 mobile and online access, no minimum balance | Instant access to the money, no notice period; remuneration activated in the app, calculated daily on the total balance and paid on the 2nd of each month; requires at least 5 eligible payment transactions of at least 1 EUR per month |
| Account kind | Easy access | Cash management |
Money transfer
| Fact | Bank South Pacific | Qonto |
|---|---|---|
| Delivery time | 1-3 business days | Not confirmed |
| Payout methods | Bank | Not confirmed |
Where each stands against the rest
| Fact | Bank South Pacific | Qonto | Median |
|---|---|---|---|
| Currency conversion fee | Not confirmed | 0.8% to 1.8%above the median | 0.5 |
| Currencies | 22highest quarter | from 30highest quarter | 5 |
Median across 536 listed accounts.
Pros and cons
Bank South Pacific
Pros
- No monthly fee, with a minimum deposit of PGK 0
- A variable rate of 3.5% and no minimum balance
- Around-the-clock mobile and online access
Cons
- The Plus Saver rate is variable, so it can move rather than stay fixed
- Support runs on phone and email only
- Transfers pay out to a bank account, so you need receiving account details
Qonto
Pros
- Minimum deposit of €0, so the account opens without tying up money
- Support runs on chat, phone and email
- Currency conversion of 0.8% to 1.8% suits frequent international invoicing
Cons
- The monthly fee of €19 makes it expensive for anyone holding a small balance
- The account is digital only, so there is no branch to visit
- The 1.5% rate is only paid while the transaction condition is met
Who each suits
Bank South Pacific
Who it suits
- Residents of Papua New Guinea who want a bank account with no monthly fee
- Anyone saving for easy access who values a variable rate of 3.5%
- People who send money abroad and need transfers delivered in 1-3 business days
Who should look elsewhere
- Savers who need a fixed rate locked in for a set term
- Anyone who wants to receive transfers as cash or into a wallet
Qonto
Who it suits
- Freelancers and sole traders billing across borders
- Small businesses paying and receiving in several currencies
- Anyone who wants their accounts, cards and invoices in one app
Who should look elsewhere
- Anyone saving mainly for yield, since the 1.5% rate is variable and ranks 350 of 473
- People who want to hold a large balance while paying nothing, given the monthly fee of €19
- Anyone who prefers a branch, as the account is digital only
Current offers
Qonto
Current offer
Bonus
Up to 5% AER account remuneration for 2 months for new customers: 5% AER for 2 months, then 1.5% AER on the Smart plan
New customers only, first 2 months of the contract, on plans Smart and above; requires at least 5 eligible payment transactions of at least 1 EUR per month; remuneration capped at 50,000 EUR on Smart and 100,000 EUR on Premium; Account Remuneration currently available in France, Spain, Italy and the Netherlands
Source, checked September 26, 2026
Free trial
1-month free trial on business account plans: 1 month free
Offered on the Basic, Smart and Premium business account plans, prices excl. VAT
Source, checked September 26, 2026
Country by country
| Country | Bank South Pacific | Qonto |
|---|---|---|
| Austria | No | Yes |
| Belgium | No | Yes |
| Cook Islands | Yes | No |
| Fiji | Yes | No |
| France | No | Yes |
| Germany | No | Yes |
| Italy | No | Yes |
| Netherlands | No | Yes |
8 of 15 countries where either is available.
Questions about each
Bank South Pacific
Does Bank South Pacific charge a monthly account fee?+
No monthly fee applies to the Plus Saver account: the monthly fee is PGK 0. The account is run by BSP Financial Group Limited, which has its head office in Papua New Guinea, so you are dealing with a local bank rather than a branch of a foreign one.
What interest rate does the Plus Saver account pay?+
The Plus Saver account pays a variable rate of 3.5%. Because the rate is variable, it can rise or fall over time rather than staying locked in, so it suits savers who are happy to check the rate now and again.
Qonto
How much does Qonto cost each month?+
The standard plan charges a monthly fee of €19. SEPA transfers are included up to a set monthly allowance, and each transfer beyond it carries a small fixed charge. Currency conversion adds 0.8% to 1.8% on converted payments.
Is there a minimum deposit to open a Qonto account?+
There is no minimum, and the stated minimum deposit is €0. The account can therefore be opened and funded with a small balance, which suits a new business or a first freelance invoice.
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Related by the facts
Qonto
Bank South Pacific