No. You can continue to use your Penta account for another 3 months after you receive the invitation to move to Qonto. You can even briefly use it in parallel to your new Qonto account, if you so choose.
After you receive the invitation to switch to Qonto, your business account with Penta will remain open for another 3 months. This gives you enough time to inform business partners and customers of your new German IBAN and update your recurrent payment/transfer/direct debit mandate information and so forth.
To make the process easier, we can even transfer your personal identification, company information and related documents automatically to your Qonto account - with your consent.
After this three-month grace period, your Penta account will be closed automatically.
As a reminder, your first 4 months with Qonto are free, so you do not pay twice during this integration period. You only have to pay for your existing Penta account.
If you have any further questions please do not hesitate to reach out to our dedicated Serviceteam via firstname.lastname@example.org and be sure to check our Information page on the merger of Penta and Qonto.