Yes. In order to give you access to Qonto’s TÜV-certified features & services you will need a new IBAN. Qonto has its own payment license and core banking system, which makes processing your transactions both easier and more reliable. 

To make this process easier for you, we’ll reuse both the personal and business information you provided us with at Penta - with your consent - to open your new Qonto account. 

90% of the customers who moved over to Qonto in the initial phase of our integration did so in less than 24 hours because we were able to source the data we use to verify their business details directly from their Penta account.

It’s also important to note that Qonto’s policy is to assign a country-specific IBAN to your main account (as well as any eventual sub-accounts) based on where your business headquarters is located. 

All Penta customers who move over to Qonto will be given a German IBAN.

You will also automatically receive one or more new business Mastercards depending on the Qonto plan you’ll have chosen, with the option to create as many virtual cards as you need (included for all plans except the Basic plan at €2/card per month) for purchases online and in-store (with Apple and Google Pay).

If you have any further questions please do not hesitate to reach out to our dedicated Serviceteam via premiumsupport@getpenta.com and be sure to check our Information page on the merger of Penta and Qonto.