Revolut Business vs Qonto: Multi-Currency vs Expense Management

Revolut offers four plans: Basic (EUR 10/month), Grow (EUR 35/month), Scale (EUR 125/month), and Enterprise (custom). Plans are differentiated by free transfer counts, FX allowances, and feature access.

Qonto offers six plans split between self-employed and team use. Self-employed plans: Basic (EUR 9/month), Smart (EUR 19/month), Premium (EUR 39/month). Team plans: Essential (EUR 49/month), Business (EUR 99/month), Enterprise (EUR 199/month). All prices are annual-equivalent; monthly billing is 10–25% higher.

Qonto's team plans (Essential+) include unlimited users, which can be very cost-effective for growing companies. Revolut charges per add-on user feature (Expenses EUR 5–8/active user, Payroll EUR 3/active user), which can add up. For a team of 10, Qonto Essential at EUR 49/month may be more economical than Revolut Grow at EUR 35 + add-on costs.

Revolut is the clear leader for international operations. With 30 currencies, free FX allowances (EUR 1,000–60,000/month depending on plan), and local payment rails in major markets, Revolut is built for businesses that move money across borders regularly. The 0.6% FX markup beyond free allowances is competitive.

Qonto supports outgoing transfers to 130+ countries and can receive 32+ foreign currencies, but FX rates are less competitive. Basic and Smart plans charge 0.80% on standard currencies and 1.80% on others (minimum EUR 5). Premium, Essential, Business, and Enterprise plans improve to 0.56% and 1.56% respectively. Incoming SWIFT transfers cost EUR 5 (waived if under EUR 500).

For businesses making regular international transfers, Revolut's free FX allowances and lower markup provide significant savings. Qonto is designed primarily for SEPA-zone operations and should be considered a secondary tool for occasional international payments.

Qonto's expense management is best-in-class among European neobanks. The platform offers three card tiers: One (included, EUR 20,000 monthly limit, 2% FX), Plus (EUR 8/month, EUR 40,000 limit, 1% FX, advanced insurance), and X Metal (EUR 20/month, EUR 200,000 limit, 0% FX, lounge access, comprehensive insurance). Each card has individually configurable spending limits.

Receipt management uses OCR scanning with automatic VAT detection. Employees photograph receipts in the mobile app, and Qonto matches them to transactions automatically. For advanced teams, the Expense & Spend Management Plus add-on (EUR 69/month) adds multi-layer approvals, mileage tracking (not available in Italy, Germany, or Spain), and advanced card controls.

Revolut offers expense management as an add-on at EUR 5 per active user (increasing to EUR 8 from March 31, 2026). It includes team cards with spending limits, receipt capture, and basic categorization. While functional, it lacks Qonto's depth — no tiered card products, no native VAT detection, and no mileage tracking.

For teams of 5+ employees who need structured expense workflows, Qonto's native tools are more mature and cost-effective than Revolut's add-on approach.

Both platforms offer deposit protection up to EUR 100,000, but through different mechanisms.

Revolut Bank UAB holds an ECB banking license regulated by the Bank of Lithuania. Deposits are protected under the Lithuanian deposit insurance scheme — the same framework as traditional banks.

Qonto is authorized by the ACPR as a Payment Institution (license #16958). Client funds are protected up to EUR 100,000 per client under the FGDR, with safeguarding partners including Credit Mutuel Arkea, Societe Generale, Natixis, CACIB, and BNP Paribas. Qonto submitted a full banking license application in July 2025.

Both provide EUR 100,000 protection, making them functionally equivalent for most SMEs. The distinction matters mainly for regulatory classification — Revolut's banking license is more comprehensive, while Qonto's Payment Institution license with FGDR backing is robust but different in structure.

Qonto has deeper EU accounting integrations. It connects directly with DATEV (Bankdatenservice and Belegbilderservice), Xero, QuickBooks, and TeamSystem (Italy). EBICS connectivity is available from the Smart plan. Custom export formats include MT940 (Germany) and region-specific formats. Accountant access with read-only permissions is available from Smart onward.

Revolut integrates with Xero, QuickBooks, and FreeAgent, and offers an open API from the Grow plan for custom integrations. Transaction exports are available in CSV and standard formats.

For businesses in Germany (DATEV ecosystem), Italy (TeamSystem), or those needing EBICS banking connectivity, Qonto's native integrations are significantly more useful. For businesses using international accounting platforms or building custom workflows, Revolut's API is more flexible.

Revolut is available in 30+ countries across the EU, EEA, and UK — significantly broader than Qonto's eight markets. This makes Revolut the default choice for businesses registered outside Qonto's coverage.

Qonto is available in France, Germany, Italy, Spain, Belgium, Netherlands, Austria, and Portugal. All accounts receive a French (FR) IBAN, which works for SEPA transfers but can occasionally cause issues with local services that expect a domestic IBAN. Belgian local (BE) IBANs are planned for mid-2026.

Revolut provides IBANs through its Lithuanian banking entity. For businesses that need a local German, French, or Italian IBAN specifically, neither platform is ideal — Finom would be a better option for local IBANs in those markets.