Qonto vs Shine: Which Bank Should You Choose to Start Your Business?

Starting a business is a big step and requires a lot of planning, time, and resources. One of the most important decisions you will make is choosing the right bank for your business. There are many factors to consider, including fees, services, and ease of use. In this article, we will compare two of the leading banks for small businesses: Qonto and Shine. By the end, you should have a better understanding of which bank is the best fit for your business needs.

Qonto: A Modern Bank for Small Businesses

Qonto is a digital bank that was founded in 2016 with the goal of making banking easier for small businesses. The bank offers a range of services, including business checking and savings accounts, debit cards, and invoicing. Qonto is fully licensed and regulated by the French banking authorities, which means that your funds are fully insured and protected.

One of the biggest advantages of Qonto is its ease of use. The bank has a user-friendly mobile app and web platform that makes it easy to manage your finances on the go. You can easily view your account balance, transaction history, and create invoices and receipts. The app also allows you to assign spending limits and control which employees have access to your account.

Another advantage of Qonto is its low fees. The bank charges no monthly fees, and its debit card transactions are free. The only fees you will pay are for ATM withdrawals and foreign transactions. These fees are very competitive compared to other banks and are unlikely to impact your business finances.

Shine: A Bank for Entrepreneurs

Shine is a digital bank that was founded in 2018 with the goal of helping entrepreneurs manage their finances. The bank offers a range of services, including business checking and savings accounts, debit cards, and invoicing. Shine is also fully licensed and regulated by the French banking authorities, which means that your funds are fully insured and protected.

Shine has a strong focus on entrepreneurship and offers a range of resources and support for entrepreneurs. The bank has a community of entrepreneurs who share their experiences and offer advice and support. The bank also offers business coaching and access to funding and investment opportunities.

One of the biggest advantages of Shine is its support for entrepreneurship. The bank has a range of resources and support to help you grow your business, including business coaching, funding opportunities, and access to a community of entrepreneurs. The bank also offers a range of invoicing and accounting tools to help you manage your finances.

Another advantage of Shine is its commitment to sustainability. The bank is committed to using its platform to support sustainable business practices and to help entrepreneurs make a positive impact on the world.