Qonto or Revolut Business: which one in Belgium?

Two business accounts that people often line up against each other in Belgium, two opposite logics. Qonto comes from the world of company formation and accounting; Revolut Business comes from the world of multi-currency and business travel. To choose here, the right question isn't "which is best," but which fits the way you incorporate, invoice and keep your books. Here's how I separate them.

Qonto or Revolut Business: which one should you choose in Belgium?

To create a company and keep tidy accounts, Qonto is the more complete. To invoice abroad and manage several currencies at the real rate, Revolut Business keeps the edge. The key point: these aren't two identical products to separate on price, but two different jobs.

The distinction changes everything. Qonto is designed as a business management tool: invoicing, expense reports, multi-user access, accounting export, and above all the capital deposit to incorporate a company. Revolut Business reaches wider on international payments: around thirty currencies, real-rate exchange, team cards. I've opened and used both accounts for my own activity and to help friends starting out: to help a friend set up his SRL, I went through Qonto; to pay a contractor in dollars without getting nibbled on the exchange, I pull out Revolut Business.

Qonto or Revolut Business: what are the differences in Belgium?

The gap comes down to four points: the status (electronic payment institution for Qonto, licensed bank for Revolut), the IBAN, the orientation (company and accounting for Qonto, international for Revolut) and the pricing. The rest — debit card, mobile app, online opening in minutes — looks very similar.

Here are the entry conditions, current as of summer 2026. Pricing changes often: always check the live offer when you open.

In practice, for everyday use: if your priority is running a Belgian company with clean accounts, Qonto is more comfortable. If you collect and pay in currencies, Revolut Business is more obvious.

Qonto or Revolut Business: which one has a Belgian IBAN?

Honest answer: neither guarantees a Belgian IBAN on the business side today. Qonto issues a French IBAN (FR). Revolut began issuing Belgian IBANs (BE) to some customers from May 2025, but on the Business side the IBAN often stays Lithuanian (LT).

Why does it matter? Because a foreign IBAN still runs into direct debit refusals here. I've seen a direct debit fail because the IBAN started with a non-Belgian prefix — technically banned by the SEPA regulation, but still practised by some creditors. Above all, an account with a foreign IBAN must be reported to the Central Point of Contact of the National Bank of Belgium and mentioned in your tax return, even for purely professional use. Check the first two letters of your IBAN: they show the country, and therefore the obligation. Each provider's licence can be checked with the FSMA and the National Bank of Belgium.

Are your deposits guaranteed with Qonto and Revolut Business?

This is where the two really diverge, and it's the most misunderstood point. Revolut is a licensed bank (Revolut Bank UAB): your deposits are guaranteed up to 100,000 EUR per depositor, via the Lithuanian guarantee fund. Qonto is an electronic payment institution, not a bank: client funds are safeguarded with partner banks, and covered at those banks' level by the French guarantee fund (FGDR), still within the 100,000 EUR limit.

What does that change in practice? Protection exists in both cases, but the mechanism differs: with Revolut, the banking licence covers your balance directly; with Qonto, it's the safeguarding at a third-party bank that protects you. For working cash that keeps moving, both hold up. For a large balance that would sit for months, I keep the reflex of never concentrating everything on a single account, licensed bank or not — a core on a Belgian account with a deposit guarantee stays sensible.

Qonto or Revolut Business: which one to create a Belgian company?

On incorporation, Qonto takes the edge without debate. It issues a capital deposit certificate, to attach to the incorporation deed at the notary, often within one business day. Revolut Business doesn't offer this service.

In practice, to set up an SRL in Belgium, the starting funds must be deposited and certified before the notary appointment, who attaches the certificate to the deed. When I helped a friend create his company, that detail saved several days: online deposit, funds verified, certificate received, notary appointment booked right after. With Revolut Business, that single step would have required going through a third-party bank. Who it's worth it for — and who it isn't: if you're already incorporated and just want an international operating account, this Qonto advantage no longer concerns you, and Revolut Business becomes a serious candidate again.

Qonto or Revolut Business: which one is cheaper?

Neither is truly "free" for an active company, so the real question is: where do the fees go? Qonto starts around 9 EUR excl. VAT per month, card included, with no permanent free plan — you pay for the management tool. Revolut Business offers a free plan (Revolut Pro) for small projects and a paid entry around 10 EUR/month, but the free exchange and transfer caps fill up fast.

The true annual cost therefore depends on your usage. For a self-employed person invoicing mostly in euros to Belgian clients and wanting clean accounts, the Qonto subscription pays for itself in saved time. For a company collecting in dollars or pounds, the Revolut plan is judged on exchange volume: above the free cap, a commission applies, and the paid tier soon beats the entry plan. Watch the fine print: extra cards (around 4.99 EUR each at Revolut), transfers above the included quota, and accounting connectors sometimes reserved for higher tiers. Our simulator helps price that real cost for your profile.

How do you handle VAT, accounting and Bancontact with these accounts?

Neither computes your VAT, but Qonto prepares the accounting material better, and neither solves the Bancontact gap. Qonto categorises expenses, attaches receipts, generates invoices and exports everything to accounting software; Revolut Business does it in a more basic way, with connectors depending on the plan.

In Belgium, VAT comes in four rates (0%, 6%, 12% and 21%), and tools like Accountable or Billit connect to these accounts to pre-fill the return and track quarterly deadlines. The account stays a clean data source; the calculation and filing go through your accountant or software. Then there's the shared blind spot: neither Qonto nor Revolut Business handles Bancontact, the network behind about 85% of in-store card payments in Belgium. Their Mastercard or Visa cards work almost everywhere, but some car parks, terminals and small shops still require Bancontact. That's why most self-employed people and companies keep an account with a Belgian bank (KBC, Belfius, ING, Argenta) alongside, and use the neobank for management, exchange or invoicing.

Qonto or Revolut Business for which profile?

Start from your real situation rather than a single verdict:

For a consultant creating their company and working mostly with Belgian clients, Qonto saves time at incorporation and then on accounting. For a company invoicing internationally and juggling currencies, Revolut Business genuinely changes the game on exchange and transfers. Many directors I know keep both, each for its strength, plus a Belgian account for Bancontact. Our comparator lines these criteria up side by side, and the quiz gives a recommendation in two minutes based on your activity.

In short

Between Qonto and Revolut Business, there's no universal winner, but two jobs. Qonto is the reference for the Belgian company: capital deposit, accounting, invoicing, at the price of a French IBAN and a subscription from the first euro collected. Revolut Business is the international operating account: multi-currency at the real rate, a free plan to start and a bank deposit guarantee, at the price of an often Lithuanian IBAN and exchange caps quickly reached. Neither handles Bancontact, neither replaces a Belgian account on its own. To go further, compare all the offers line by line in our comparator, or read our guide to the best neobank for freelancers if you're looking first for an everyday account.

Sources: National Bank of Belgium (deposit guarantee, Central Point of Contact), FSMA (register of authorised institutions), ACPR and FGDR (Qonto's status and guarantee), Febelfin and Bancontact (Bancontact usage in Belgium), SEPA Regulation (EU) No 260/2012, pricing conditions of Qonto and Revolut Business consulted in July 2026.