Qonto is a Payment Institution operating in Germany through a branch office under the joint supervision of the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin). 

The entirety of the funds deposited by customers is safeguarded in compliance with the relevant legislation. In other words, funds deposited with Qonto are safe because they are totally separate from its cash flow, in line with the applicable requirements.

Qonto can safeguard funds through different mechanisms:

  • Part of the client funds may be "fenced", i.e. deposited in the books of our partner banks: Crédit Mutuel Arkéa and Natixis.
  • Another portion may be invested in units of a fund created specifically for the safeguarding of Qonto clients' assets. To ensure full protection, the invested portion is covered by a financial guarantee granted by Crédit Agricole CIB (CACIB), a subsidiary of Crédit Agricole S.A.
  • Finally, a last part may be invested in qualified money market funds on an occasional basis. Where applicable, the fund units are held in the books of Société Générale.

Regardless of how client funds are safeguarded by Qonto, it is important to note that all of these arrangements have been subject to prior authorization by the ACPR, as required by the rules applicable to Qonto.

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.