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:
- 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.
- Engaging in prohibited activities with Qonto.
- Inappropriate use of the account.
- Failure to respond to a request for information about your transactions.
- Violation of our Terms & 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.
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 (sent from closing@qonto.com). This email will provide all the necessary information about the closure of your account.
Can I know the reason for the closure?
Our customer support cannot provide you with the reasons for the closure. We are legally not allowed to share this information, and our support team cannot provide further details regarding these matters.
What notice period should I expect?
For professional/business payment accounts, a notice period of at least 30 days is required under Article L314-5 of the Monetary and Financial Code, counted from the receipt of the closure notification. 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)
💡 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.
How can I withdraw or settle my remaining balance?
Bring your account balance to 0 € before the end of your notice period.
If the notice period has not yet expired, please transfer the remaining balance yourself using the Qonto App.
📩 We will send you reminder emails before the closure of your account — you can expect reminders around 14 days and 7 days before final closure, and generally at least 10 days before closure as well.
If your account balance is greater than 0 € after the notice period has expired, you cannot transfer the money yourself. Your account will be locked/suspended, and all applicable fees will continue to be charged. In this case, contact our customer support with proof of the recipient account:
- A bank statement or bank confirmation, or a SEPA zone IBAN in PDF format, under the name of your company.
- 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.
After verification by our services, the balance of your account will be transferred within 2 business days.
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.
1. 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.
2. Retrieve your useful information
Export your transactions
Retrieve an export of your transactions and receipts that could assist you in your accounting.
Retrieve your Qonto invoices:
- Go to the Settings section of your Qonto web interface.
- Then, go to Billing and invoices.
- Click on the Qonto invoices section.
- Select the invoices you wish to download.
Share your new IBAN:
- 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 €.
- 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.
Additional documents
If needed, you can request the following documents from our customer support:
- Export of your list of beneficiaries.
- Account closure certificate (available after the deactivation of the account).