Qonto is evolving to better serve the everyday needs of businesses. We have submitted an application for a Credit Institution licence, an important step in strengthening our banking framework.
🚀 We have submitted an application for a Credit Institution licence, an important regulatory step that will allow us to offer enhanced services in the future. As part of this evolution, we are updating our Framework Agreement to align it with the new regulatory framework.
Your day-to-day experience remains unchanged—same services, same plan, same pricing. All Qonto customers will receive a notification containing all the 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 it matter to me?
A Credit Institution is a type of regulated payment service provider, authorised under European law to accept deposits and offer a full range of banking services. This is a significant step forward for Qonto—it means a stronger regulatory framework around your account and, in the future, the ability to offer credit products tailored to your business.
What this means for you right now: Nothing changes. You keep the same services, the same plan and the same pricing. Qonto has submitted an application for Credit Institution status and the application is in progress—we will keep you informed as things develop.
This evolution will allow us to offer:
- A more complete banking offering over time
- Continuous improvements aligned with customer needs
- A strengthened regulatory framework
What are the main changes in the Framework Agreement?
The main update is the transition from a Payment Account to a Current Account within 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 are preparing as part of the licence application
- Enhanced deposit protection: Once Qonto operates as a Credit Institution, the funds in your account will be classified as deposits and insured up to €100,000 per depositor through the Guarantee Fund for financial services, in accordance with the regulations applicable in Belgium
- Regulatory alignment: Additional updates ensure the agreement complies with applicable banking regulations, including contract amendment procedures and required disclosures
You can review all the 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?
That depends on whether you accept the updated terms.
If you accept the updates: No action is required. The changes will be considered accepted and will take effect once Qonto officially operates under the Credit Institution licence. You will receive a notification when the new terms come into force.
If you do not wish to accept the updates: You have the right to close your account without penalty or additional charges during the notice period specified in your notification. Simply contact our Customer Service team at bonjour@qonto.com, who will assist you with the closure process.
We recommend reviewing the full Framework Agreement document to understand all the 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 in accordance with European deposit protection regulations, with stronger protection than under the current framework.
Once Qonto operates as a Credit Institution, the funds in your account will be insured up to €100,000 per depositor through the Guarantee Fund for financial services, in accordance with the regulations applicable in Belgium.
This offers stronger protection compared to the previous framework, where funds were held as segregated payment funds. The deposit guarantee system automatically covers eligible deposits—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 Framework Agreement updates 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, in accordance with the notification procedures set out in your Framework Agreement. We are committed to transparency and will always give you advance notice of any changes affecting your account.
Where can I find the updated Framework Agreement?
You can access the updated Framework Agreement through several channels:
From your notification email: The document is attached to the email you received regarding this update.
From your Qonto account:
- đź’» Web: Go to Settings > Legal documents
- 📱 Mobile: Go to Menu > Settings > Legal documents
We recommend reviewing the full document to understand all the changes that apply to your account.
If you have questions after reviewing the agreement, contact our Customer Service team at bonjour@qonto.com—we are here to clarify any aspect of the update.