Qonto is evolving to better support day‑to‑day business needs. We have applied for a Credit Institution licence, which is an important step in strengthening our banking framework.
🚀 We've applied for a Credit Institution licence, an important regulatory step that will enable us to offer enhanced services in the future. As part of this evolution, we're updating our Framework Agreement to align with the new regulatory framework.
Your daily experience remains unchanged—same services, same plan, same pricing. All Qonto clients will receive a notification with the full details, timeline, and updated terms so you can review and decide whether to continue under the new Framework Agreement.
What is a Credit Institution and why does this matter to me?
A Credit Institution is a type of regulated payment service provider, authorised under EU law to accept deposits and offer a full range of banking services. This is a significant step forward for Qonto, strengthening the regulatory framework around your account and enabling us to offer credit products tailored to your business in the future.
What this means for you right now: Nothing changes. You keep the same services, same plan, and same pricing. Qonto has applied for Credit Institution status and the application is in progress—we'll keep you informed as this evolves.
This evolution will enable us to deliver:
- A more complete banking offering over time
- Continued improvements aligned with customer needs
- A stronger regulatory framework
What are the main changes in the Framework Agreement?
The primary update is the transition from a Payment Account to a Current Account under the future regulatory framework. This reflects the regulatory requirements associated with operating as a Credit Institution.
Key changes that benefit you:
- Stronger banking framework: The updated agreement aligns with the regulatory framework we're preparing for as part of the licence application
- Enhanced deposit protection: Once Qonto operates as a Credit Institution, funds in your account will be classified as deposits and insured up to €100,000 per depositor through the French Deposit Guarantee and Resolution Fund (FGDR), with local implementation as required by regulation
- Regulatory alignment: Additional updates ensure the agreement complies with applicable banking regulations, including contract modification procedures and required disclosures
You can review all changes that apply to your account in the updated Framework Agreement document provided with your notification. The changes are designed to strengthen protections while maintaining your current experience.
Do I need to take any action?
This depends on whether you accept the updated terms.
If you agree with the updates: No action is required. The changes will be considered accepted and will enter into force once Qonto officially operates under the Credit Institution licence. You'll receive a notification when the new terms take effect.
If you do not wish to accept the updates: You have the right to close your account without penalty or additional costs during the notice period specified in your notification. Simply contact our Customer Service team, who will assist you with the closure process.
We recommend reviewing the full Framework Agreement document to understand all changes before making your decision. If you have questions, our Customer Service team is available to help.
Will my deposits be protected under the new framework?
Yes, your deposits will be fully protected under EU deposit protection regulations, with enhanced protection compared to the current framework.
Once Qonto operates as a Credit Institution, funds in your account will be insured up to €100,000 per depositor through the French Deposit Guarantee and Resolution Fund (FGDR). Local implementation follows applicable regulations, ensuring your deposits receive the same protection guaranteed under EU law.
This provides stronger protection compared to the previous framework, where funds were held as segregated payment funds. The deposit guarantee scheme covers eligible deposits automatically—no action is required on your part.
Will my pricing, plan, or services change?
No. Your current experience remains exactly the same: same services and features, same pricing plan, same subscription costs, and same account access.
The updates to the Framework Agreement are regulatory in nature and do not affect your current subscription, fees, or access to Qonto services. You can continue using Qonto exactly as you do today.
Any future changes to pricing or services will be communicated separately and in advance, following the notification procedures outlined in your Framework Agreement. We're committed to transparency and will always give you advance notice of any changes that impact your account.
Where can I find the updated Framework Agreement?
You can access the updated Framework Agreement through multiple channels:
From your notification email: The document is attached to the email you received about this update.
From your Qonto account:
- 💻 Web: Go to Settings > Legal documents
- 📱 Mobile: Go to Menu > Settings > Legal documents
We recommend reviewing the full document to understand all changes that apply to your account.
If you have questions after reviewing the agreement, contact our Customer Service team for assistance—we're here to help clarify any aspect of the update.