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Accounting · head to head

Qonto vs Wise Business

Qonto logo

Qonto

Accounting

French neobank and finance management platform for freelancers, SMEs and businesses

From
€9/month
Rated
-
Full reviewWebsite
Wise Business logo

Wise Business

Accounting

The smart way to send and receive business payments

From
$29/month
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Qonto pricing in EUR only, not USD; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP

Where they differ

Only the attributes on which Qonto and Wise Business actually diverge.

Attributes where Qonto and Wise Business differ
AttributeQontoWise Business
Starting price€9/month$29/month
Pricing modelsubscriptionusage-based
PlatformsWebWeb, Ios, Android, Api
FoundedUnknown2011

Identical on both: free tier (No), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Qonto

Nothing recorded that Wise Business does not also cover.

Only in Wise Business

  • Multi-currency accounts
  • International transfers
  • Batch payments
  • API access
  • Team management
  • Xero
  • QuickBooks
  • Various

What people use each for

The jobs each tool is most often brought in to do.

Qonto

  • Business bankingnot Wise Business
  • Team paymentsnot Wise Business
  • Cash flow managementnot Wise Business
  • Multi-currency transfersnot Wise Business
  • Freelancer paymentsnot Wise Business

Wise Business

  • Holding and converting multiple currencies as a businessnot Qonto
  • Paying international suppliers and contractors at the mid market ratenot Qonto
  • Receiving payments into local currency account details in several countriesnot Qonto

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Qonto

  • Pricing in EUR only, not USD
  • Basic tier limited to 30 transfers per month
  • Add-ons for invoice automation and project tracking cost EUR 12-39/month extra
  • Business tier minimum commitment for small team accounts
  • Business plan minimum pricing EUR 49/month vs self-employed EUR 9/month

Wise Business

  • Opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
  • Volume discounts on transfers start only above 20,000 GBP equivalent sent per month

Pricing, plan by plan

Qonto

€9/month
  • Basic (Self-Employed)$9/month
    • 30 transfers
    • 1 physical + 2 virtual cards
    • Account remuneration 5% for 2 months
  • Smart (Self-Employed)$19/month
    • 100 transfers
    • 2 physical + 50 virtual cards
    • Account remuneration
  • Premium (Self-Employed)$39/month
    • 200 transfers
    • 2 physical + 50 virtual + 50 Instant cards
  • Essential (Business)$49/month
    • 250 transfers
    • 5 physical + 50 virtual cards
    • Multiple sub-accounts

Wise Business

$29/month
  • StandardFree
    • Multi-currency account
    • Real exchange rate
    • Batch payments

Which should you pick?

Choose Qonto if

Nothing in the data separates Qonto from Wise Business on the points above - pick on price and on how each one feels to use.

Qonto review

Choose Wise Business if

  • You need multi-currency accounts.
  • You work on Web, Ios, Android, Api.
  • You also want international transfers.
Wise Business review

Questions people ask

Is Qonto or Wise Business better?
Neither clearly leads. Qonto starts at €9/month and Wise Business at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Qonto or Wise Business?
Qonto starts at €9/month and Wise Business at $29/month.
Does Qonto or Wise Business run on more platforms?
Qonto runs on Web. Wise Business runs on Web, Ios, Android, Api.
What is Qonto best used for?
Qonto is most often used for business banking, team payments, cash flow management, multi-currency transfers. Of those, business banking and team payments are not what Wise Business is typically brought in for.
What can Qonto do that Wise Business cannot?
Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access.

Answered from the vendors’ own pages

Qonto: How much does Qonto cost?

Qonto's self-employed plans range from EUR 9/month (Basic) to EUR 39/month (Premium). Business plans range from EUR 49/month (Essential) to EUR 199/month (Enterprise).

Source
Wise Business: How fast are international transfers with Wise Business?

Wise Business offers fast global payments with 70% arriving in 20 seconds and 95% arriving in under 24 hours. You can also pay up to 1,000 contacts in a single batch transfer.

Source
Qonto: What is included in Qonto's Basic plan?

The Basic plan costs EUR 9/month and includes 30 monthly transfers, 1 physical card and 2 virtual cards, plus account remuneration at 5% for the first 2 months.

Source
Wise Business: Does Wise Business offer volume discounts?

Yes, volume discounts are available on monthly transfers over 20,000 GBP or equivalent.

Source
Qonto: What is the difference between self-employed and business plans?

Self-employed plans (Basic to Premium) are for individuals and cost EUR 9-39/month. Business plans (Essential to Enterprise) offer more transfers and cards for teams, ranging from EUR 49-199/month.

Source
Wise Business: How does Wise Business keep funds secure?

Wise customers move over AED60 billion monthly with systems built to keep funds safe. The company runs over 7 million daily fraud checks (80 per second), keeps funds diversified with secure financial institutions, and offers 24/7 customer support.

Source
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