In compliance with the requirements of the monetary and financial code, Qonto must collect and verify certain information about:
The company for which the account opening request was made
Any person likely to use this current account
While we proceed with the legal verifications, you have access to your Qonto account. However, restrictions apply until your company's identity is confirmed:
You can create cards but will only be able to receive them, use them or see their numbers after validation of your information.
You can initiate transfers but they will not be executed until we have confirmed your identity.
If you are an employee on the Essential, Business and Enterprise plan, you will not be asked to confirm your identity and you will be able to make a transfer request, submit an expense report and obtain a single-use card. We will only ask for proof of identity if you need a virtual or physical card.
These regulatory checks have been implemented to fight against money laundering, terrorism and fraud in general.
They generally take less than 24 hours but this timeframe may be extended for certain very specific cases.
However, you will be able to receive incoming transfers throughout the account opening process.
You will receive a confirmation email once the verifications concerning your company are finalized and the usage limits will be lifted automatically.