Countingup vs Qonto
Side-by-side comparison — pricing, features, ratings, use cases. Find which Business Banking fits you best.
🔍 Independently researched ·
📊 Data-driven
29/100
Free tier
UK sole traders, freelancers, and small service-based businesses that want simple accounting built right into their busi
💰 Pricing
🆓 Free tier available
All core features are free, but additional services like in-app accountant support or advanced features may incur costs.
Starting at $5 (freemium)
Fee notes:
- No monthly account fee.
- Card payments: no fee for UK card transactions.
- Cash deposits: £1.50 per cash deposit (up to £3,000 per deposit) via Post Office.
- International payments: 2.5% FX markup on exchange rate, plus £2.00 per transaction.
- Overseas card spend: 2.5% FX fee.
⚠ Watch for:
- Cash deposits not free; £1.50 per deposit at Post Office.
- International transactions have 2.5% FX markup and possible fixed fees.
- Accountant sharing via Pro plan costs extra (£X/month).
- Card replacement may incur a fee if lost or damaged.
🔧 Features
✓ Built In Accounting✓ Tax Estimates✓ Accountant Sharing✓ Uk Only✓ Fca Registered✓ Free Tier
📋 Assessment
💪 Strengths
- All-in-one integration: Countingup eliminates the need for separate bookkeeping software by integrating accounting directly into the bank account. Every transaction is automatically categorised using a combination of rules and artificial intelligence. This saves hours of manual entry and ensures your records are always up to date, which is especially valuable for freelancers and sole traders who lack the time or inclination for bookkeeping.
- Real-time tax estimates: The app calculates your estimated tax liability continuously, based on your income and expenses. This feature allows you to set aside the right amount of money as you go, avoiding the stress of a huge tax bill in January. The estimates are visible at a glance on the dashboard, making it easy to plan your cash flow throughout the year.
- Accountant access: With the paid plans, you can grant your accountant or bookkeeper read-only access to your transactions and reports. They can also enter journal entries and reconcile your books without needing physical paperwork. This collaboration is seamless and reduces back-and-forth emails, making the year-end much smoother.
- Invoicing and expense tracking on the go: You can create and send invoices directly from the mobile app, which also allows you to attach receipts to expenses via photo capture. The app remembers your bank card details for fast payments, and you can track when invoices are viewed and paid. This is ideal for businesses that need to manage cash flow while on the move.
- Business loan options: Countingup uses your transaction history to offer pre-approved business loans, with applications that take just minutes. This can be a useful source of quick funding for small businesses that might struggle to get credit from traditional banks due to limited credit history.
⚠ Watch out for
- Not FSCS protected: As an e-money institution, Countingup is not covered by the Financial Services Compensation Scheme. This means that if Countingup were to fail, your money is not protected by the UK government's £85,000 compensation limit. While client funds are segregated, they are not legally owned by you once deposited, which is a risk to consider.
- UK-only and no multi-currency: Countingup is strictly for UK businesses and only operates in pounds sterling. There are no multi-currency accounts, and you cannot send or receive international payments. If your business deals with foreign clients or suppliers, you'll need to use a separate solution, which negates some of the convenience of having everything in one place.
- Free plan has significant limitations: The free tier only includes basic transaction categories and does not offer features like accountant access, invoice creation, or receipt capture. The ability to share data with your accountant is locked behind the £5/month plan, which may be a dealbreaker for businesses that rely on professional advice.
- Annual billing for paid plans: To get the advertised monthly price, you have to pay annually in advance. If you choose to pay monthly, the cost is higher, which might be an unexpected expense for those who prefer flexible billing. This is a common but still annoying practice.
- Occasional transaction import issues: Some users have reported that transactions sometimes fail to import or miscategorise, requiring manual correction. While the AI improves over time, it's not perfect, and tech-savvy users may find themselves spending time fixing categories rather than trusting the automation blindly.
🎯 Best for
UK sole traders, freelancers, and small service-based businesses that want simple accounting built right into their business current account.
🚫 Who should skip
Businesses with complex accounting needs, payroll, heavy cash handling, international operations, or those requiring FSCS-protected banking.
📚 Learning curve
Minimal — the app is designed for non-accountants, with automated categories and straightforward navigation.
🧑⚖️ Verdict
Countingup is ideal for UK freelancers, sole traders, and small businesses that want a bank account with built-in bookkeeping, especially if they're just starting out and want to minimize cost and complexity. However, if you need FSCS protection, international banking, or already use a separate acco
56/100
$10 starting
French and European SMEs and freelancers who want a modern, spend-management-focused digital business account without ph
★ Best
💰 Pricing
Starting at $10 (hybrid)
Fee notes:
- Monthly fees: Standard 9 EUR, Business 29 EUR, Premium 99 EUR (approx US$10, $32, $110, converted at 1.10).
- Transaction fees: over plan limits, 1 EUR per transaction (Standard 20/mo, Business 200/mo, Premium 1000/mo).
- Physical card issuance: 10 EUR per card (one free per plan).
- FX markup: 1% above interbank for transactions in foreign currencies (non-EEA).
- Cash deposit fees: 1% of amount (Standard plan, over 500 EUR/month), free up to plan limits for Business and Premium.
⚠ Watch for:
- Card replacement: 10 EUR per card beyond first free.
- EU transfer costs: 0.10 EUR per SEPA transaction after limit.
- Cash deposit fee on standard plan: 1% of amount above 500 EUR/month.
- Outgoing wire fees: 1% of amount for non-SEPA transfers, min 10 EUR.
🔧 Features
✓ French Origin✓ Multi Iban✓ Spend Controls✓ 400k Customers✓ Sme Focus
📋 Assessment
💪 Strengths
- Fast, fully digital onboarding: Qonto lets you open an account in under 10 minutes if you're a French business, and for other countries the process is still quick (usually within a few days). No branch visits required. You can complete everything online, from identity verification to signing contracts. This is a huge time-saver compared to traditional banks, which may require several days or weeks.
- Granular spend controls with team cards: The card management is top-tier. For each physical or virtual card, you can set custom monthly limits, restrict usage to specific merchant categories (e.g., block online gambling or fuel), and enable contactless payments. You can freeze or delete a card instantly from the dashboard — perfect for lost cards or when an employee leaves. Real-time notifications on every transaction keep you in the loop.
- Multiple IBANs for organization: With Qonto, you can create up to 10 IBANs (depending on plan) within a single account, allowing you to separate cash flows by client, project, or entity. This eliminates the need to open multiple bank accounts and simplifies reconciliation. It's particularly useful for freelancers with multiple income streams or businesses with distinct departments.
- Real-time expense tracking with receipt attachments: The expense management workflow is smooth. Connect a per-card to the app, snap a photo of the receipt, and it attaches to the transaction automatically. Admins can approve or reject expenses, and you can export reports to your accountant. This feature alone can save hours of manual bookkeeping each week. It's available even on the Essential plan with limited files.
- Transparent pricing and no hidden fees: Qonto's pricing is straightforward: Essential at $10/month, Business at $50/month, and Premium at $169/month. There are no quarterly fees, no inactivity charges, and no minimum balance requirements. The dashboard clearly shows your plan's limits and what will incur extra costs (e.g., additional cards). This predictability is a relief for small businesses watching their overhead.
⚠ Watch out for
- Not a licensed bank — no loans, overdrafts, or credit lines: As an EMI, Qonto cannot offer credit products. If your business occasionally needs a line of credit or overdraft protection, Qonto won't help. You'll need a traditional bank or alternative lender, which means managing a second relationship. This is a significant limitation for companies with fluctuating cash flow.
- Limited geographic coverage and no multi-currency accounts: Qonto is only available to businesses in France, Germany, Italy, and Spain. Even within those countries, you must have a registered business. There are no foreign currency accounts — everything is in EUR (or possibly GBP? No, only EUR). If you deal with clients in USD or other currencies, you'll have to manually convert funds and pay FX fees, which could be costly. The lack of multi-currency support is a major gap for international businesses.
- Advanced features gated behind expensive plans: While the Essential plan is affordable, many useful features require the Business or Premium tiers. For example, accounting integrations (like linking QuickBooks, Xero) are only available on Business and Premium. The number of cards, IBANs, and transfer limits are also tiered. If you need more than the basics, the cost jumps significantly — from $10 to $50 or $169 per month, which is steep for a small startup.
- No dedicated mobile app for Android? Actually, Qonto has a mobile app for both iOS and Android, but it lacks some features compared to the web dashboard. For instance, you cannot set up new cards or change merchant restrictions from the app; you must use the web. This can be annoying if you're on the go and need to adjust a limit quickly.
- Customer support can be slow: While Qonto offers in-app chat and email support, response times are not always immediate. Some users report waiting 24 hours or more for a reply, and there's no phone support. For urgent issues (like a lost card), this can be frustrating, though you can freeze cards yourself from the dashboard.
🎯 Best for
French and European SMEs and freelancers who want a modern, spend-management-focused digital business account without physical branches.
🚫 Who should skip
Companies that need credit facilities, overdrafts, or multi-currency accounts, or businesses based outside Qonto's four supported countries.
📚 Learning curve
Minimal — the interface is straightforward and familiar to anyone who has used a modern banking or Fintech app; most users are fully operational within a day.
🧑⚖️ Verdict
Qonto is a top choice for freelancers, startups, and SMEs in France (and now other EU countries) that want fast, digital banking with excellent spend controls. Its multi-IBAN and expense management features make it perfect for teams that rely on card payments. However, if you need loans, overdrafts,
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseCountingupQonto
Freelancer Self-Assessment Tax Returns95—
Built-in tax estimates and expense categorisation make it easy to track taxable
Paying Business Expenses on the Go90—
App-based account with instant notifications and auto-categorisation helps small
Sharing Financials with an Accountant92—
Accountant access feature lets professionals view live data and eliminates manua
Managing Simple Invoice Payments80—
Offers invoicing and automatic chase reminders, though it's not as full-featured
Handling Complex Inventory or Payroll30—
Lacks advanced inventory management and payroll tools; better suited to service-
Team Expense Management—95
Real-time expense tracking, customizable spend limits, and instant transaction f
Startup Banking—85
Fast onboarding, multiple IBANs, and collaborative access are ideal for startups
Freelance / Independent Work—80
Simple invoicing, expense categorization, and accounting integrations reduce adm
🧭 Which One Should You Pick?
Choose Countingup if...
- You are: UK sole traders, freelancers, and small service-based businesses that want simple accounting built right into their busi
- 👍 All-in-one business current account and bookkeeping software, eliminating the need for separate acco
- 👍 Automatic expense categorisation and tax estimates updated in real time.
- 👍 FCA-registered e-money institution with segregated client funds for safety.
- 💰 From $5/mo
- ⚠ Trade-off: Not a licensed bank; deposits aren't covered by the FSCS.
Choose Qonto if...
- You are: French and European SMEs and freelancers who want a modern, spend-management-focused digital business account without ph
- 👍 Fully digital and fast to set up — most French businesses can open an account in under 10 minutes fr
- 👍 Excellent spend control features: custom card limits, merchant-level restrictions, and instant card
- 👍 Multiple IBANs per account let you organize financial flows by client, project, or entity without ex
- 💰 From $10/mo
- ⚠ Trade-off: Not a licensed bank — Qonto is an EMI, so it doesn't offer overdrafts, loans, or
❓ Frequently Asked Questions
How much does Countingup cost?
Countingup offers a free plan and paid plans starting at around £4.95/month for additional features like accountant sharing and invoicing. Exact pricing varies, so check the website for the latest fees.
Is Countingup a bank?
No, it's an FCA-registered e-money institution, not a licensed bank. Your money is safeguarded in segregated accounts, but it doesn't have FSCS deposit protection like a bank.
Can I use Countingup with my accountant?
Yes, the paid plan gives your accountant real-time access to your transactions, categories, and tax estimates. This can save time during year-end and reduces back-and-forth.
Does Countingup work for limited companies?
Yes, it offers business current accounts for both sole traders and limited companies, including features like invoicing and tax calculations. However, complex corporation tax filing may still require an accountant.
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