At Qonto, we treat all customers equally and aim to provide as many businesses as possible with an account. However, there may be instances where we need to close an account due to administrative or regulatory reasons. Here are some examples:
- Business Deregistration: Your company ceases operations.
- Judicial Restructuring: Involvement of an insolvency administrator.
- Permanent Negative Balance: Your account has a continually negative balance.
- Management Conflict: There's a conflict within the company's management.
- Regulatory Reasons: Your account needs to be closed due to regulatory requirements.
- Unsupported Business Activities: Your business activity is no longer supported by Qonto.
- Account Opening Error: There was an error when opening the account.
If your account falls into any of the above categories, you will receive a notification via email at the address associated with your Qonto account.
This email will provide all the necessary information about the closure of your account.
Please note that our support team cannot provide further details regarding these matters.
What Notice Period Should I Expect?
For professional payment accounts, a notice period of at least 30 days is required under Article L314-5 of the Monetary and Financial Code. The duration of your notice period at Qonto may vary based on the reason for closure and can range between 30 to 90 days. Here are some examples:
Business Deregistration: 60 days
Overdrawn Account: 30 days
Judicial Restructuring with an Administrator: 30 days
Management Conflict: 30 days (after 7 days of mediation)
How Can I Withdraw My Remaining Balance?
If the notice period has not yet expired, please transfer the remaining balance yourself using the Qonto App.
If your account balance is greater than 0€ after the notice period, you cannot transfer the money yourself. In this case, please send proof of the recipient account (bank statement or bank confirmation) to our customer support for the withdrawal of your remaining balance.
Active Businesses: The bank account for the payout must be under the same company name.
In case of Business Closure: You can exceptionally provide a bank statement or confirmation for a different account.
Important! If your balance is greater than 0€ after the notice period, your account will be locked, and all applicable fees will continue to be charged.
You will receive an email reminder 14 days and 7 days before the final closure of your account.
What Should I Do If I Receive a Termination Notice from Qonto?
- Balance Your Account: Ensure your account balance is settled and transfer any remaining funds.
- Secure Your Documents: Keep all your statements, invoice templates, and receipts & invoices.
- Inform Your Business Partners: Notify your business partners in time about the change of account.
- Export Your Transaction History: Secure the status of your integrations (DATEV, lexoffice).
- Ensure Regular Payments: Make sure that your regular payments, such as standing orders and direct debit agreements, are transferred.
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