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Qonto Portugal Business Account review

Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Qonto Portugal Business Account suits small businesses and freelancers who want a euro account with reach into many currencies and EU deposit protection. The trade-off is the €9 monthly fee, against €0 at XTB and €0 at AXI Card every month.

Key facts

Best for
A euro business account for cross-border trade that is worth a monthly fee.
Monthly fee
€9↗
Licence type
Payment institution↗
Deposit protection
EU DGS up to EUR 100,000↗
Currency conversion fee
0.8% to 1.8%↗
Currencies
from 30↗
Local account details
IBAN↗
Transfer fee
30 SEPA transfers/month included, then EUR 0.20 per extra transaction (Basic plan)↗
Legal entity
QONTO↗
Headquarters
France↗
Founded
2017↗
Support channels
Chat, Phone, Email, Help-centre↗
Audience
Business, Freelancers
Features
Digital-only
Official website
qonto.com

Facts checked September 26, 2026, 5 sources

Apps and profiles

Get the app
App StoreGoogle Play
Elsewhere
WikidataWikipediaXTrustpilotLinkedIncapterra.com

Pros and cons

Pros

  • The account covers from 30 currencies, well above the 5 seen across the site.
  • Deposits sit under EU DGS up to EUR 100,000, so the working balance stays inside the EU guarantee.
  • Support runs on chat, phone and email, including a phone line for urgent payment problems.
  • A local iban fits Portuguese suppliers, payroll and tax payments.

Cons

  • The €9 monthly fee is the cost rivals skip, with XTB at €0 and AXI Card at €0.
  • Currency conversion costs of 0.8% to 1.8% apply to any payment made outside the euro zone.
  • The account is digital only, so there is no branch counter and no paper trail outside the app.
  • On the Basic plan each transfer beyond the included bundle of SEPA transfers is charged a flat rate.
Qonto Portugal Business Account

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Who it suits

  • Businesses and freelancers, the audiences the account is built for, billing in euros.
  • Companies with customers in several markets, since the account covers from 30 currencies.
  • Finance teams that want deposit cover in the same account they pay suppliers from, under EU DGS up to EUR 100,000.

Who should look elsewhere

  • XTB, when the monthly fee decides it: XTB lists €0 and this account charges €9.
  • AXI Card, for the same reason, with a monthly fee of €0 against €9 here.
  • Skrill, if a wallet balance fits the money flow better than a business account carrying €9 a month and 0.8% to 1.8% on conversion.

Local details and currencies

Portuguese payments hang on a detail: the account carries a local iban, which is what domestic suppliers, payroll files and tax paperwork expect to read. Nothing has to be reworked into another country's format, and money from a euro area customer arrives on the same identifier that pays your team. The reach goes further than the home market. The account covers from 30 currencies, a spread that suits a company invoicing abroad or holding receipts in markets where a euro-only account would push a conversion onto someone else. Holding those balances in the same place keeps the month end on a statement of its own rather than split across separate providers and statements. Practical consequence for a Portugal business: euro receipts, euro payments and a local iban for domestic paperwork sit together, while foreign balances wait until you choose to move them. That final step is where the charge appears, so the currency list and the conversion cost are worth reading side by side before a foreign price goes out.

Foreign exchange costs

Conversion decides whether a multi-currency account is cheap or merely convenient. The charge here is 0.8% to 1.8%, applied when money moves between the euro balance and another currency. That is the figure to weigh against foreign volume, not the monthly fee. Scale helps make it manageable. With from 30 currencies available, a business can invoice in the customer's currency, hold the receipt and convert on its own timetable rather than converting to euro on arrival and back out again later. Converting the same money twice is what turns a fair rate into an expensive one, and holding a balance until the moment it is needed removes that step. Keeping foreign receipts rather than sweeping them on arrival, and quoting in the currency the customer actually needs, both cut how often 0.8% to 1.8% is charged. Neither habit changes the rate itself; each simply reduces the number of times it applies.

Deposit protection

The provider is licensed as a payment institution in France and supervised by the Autorite de Controle Prudentiel et de Resolution, registered under PSD_PI FR_ACPR!68677 and listed there as 16958. That distinction matters for a business weighing the account: a payment-institution licence covers the payment services the account is built around, rather than wider deposit-taking banking. The money side is straightforward. Deposits are covered by EU DGS up to EUR 100,000, so the balance sits inside the EU guarantee rather than outside it. For a company holding a working float and paying suppliers, that is the difference between a buffer that would vanish in a failure and one the scheme is set up to return. Read both parts together. The licence tells you who is responsible for the service and which authority can be asked about it; the guarantee tells you what the balance is worth if the provider cannot deliver. Neither replaces the other, and a business that keeps its cash here should still keep its own record of what is held, because a guarantee is a claim to be made rather than an instant repayment.

How Qonto Portugal Business Account compares

Where Qonto Portugal Business Account is available

Available
Austria, Belgium, France, Germany, Italy, Netherlands, Portugal, Spain
Licence in France
Autorite de Controle Prudentiel et de Resolution (ACPR) (16958), checked September 26, 2026
Licence in France
FR_ACPR (PSD_PI FR_ACPR!68677), checked September 26, 2026, also valid in Austria, Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Poland, Portugal

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What does the account cost each month?+

The account carries a monthly fee of €9 on the Basic plan. Payment activity adds to it: transfers beyond the included bundle each carry a flat charge. Budget for the fee as the baseline cost of keeping the account open.

What do extra SEPA transfers cost?+

On the Basic plan a bundle of SEPA transfers is included each month, and every transfer after that is charged at a flat rate per transaction. The monthly fee of €9 does not cover extra payment volume, so busy months cost more than the headline price.

How much does currency conversion cost?+

Conversion fees run 0.8% to 1.8%, depending on the pair and the plan. With from 30 currencies in the account, that charge applies whenever money moves between a euro balance and another currency, so foreign prices are worth checking against it.

Is the balance protected if the provider fails?+

Deposits are covered by EU DGS up to EUR 100,000. The provider is licensed as a payment institution and supervised in France by the Autorite de Controle Prudentiel et de Resolution, so the guarantee sits on top of a regulated arrangement rather than on an uninsured balance.

Who regulates the provider?+

The account is run by QONTO, a payment institution licensed in France and registered with the Autorite de Controle Prudentiel et de Resolution under PSD_PI FR_ACPR!68677. Founded in 2017 and based in France, the provider works under that payment-institution licence.

Who is the account built for?+

Businesses and freelancers. The account is aimed at companies that invoice abroad, and the currency list of from 30 suits firms with customers in several markets. Freelancers working for overseas clients get the same euro account with a local iban.

How do I get help when a payment fails?+

Support runs on chat, phone and email. The phone line matters for blocked transfers and client deadlines, while the help centre and email suit anything that needs a written trail. Chat covers quick questions in between other tasks.

Can the account be run without visiting a branch?+

Yes: the account is digital only, so opening, paying and reconciling run from the app rather than a counter. A business that does not need branch services will find that workable, and it keeps the fee line simple.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Qonto Portugal Business Account

Qonto Portugal Business Account

A euro business account for cross-border trade that is worth a monthly fee.

8.7/10Visit