For years, Fidor Bank was also our company bank, and apart from the missing export and payment reconciliation, we were always very satisfied. Since there is now news about the insolvency or liquidation of Fidor Bank AG, a Fidor alternative is needed. As we support several companies and are also very active in business consulting, we have been thoroughly testing our additionally used alternative since 2020 and have found it to be arguably the best Fidor Bank alternative.
The arguably best Fidor Bank alternative + experience with the new bank account
Right upfront: It’s about the Penta Business Account (click here)*. As written above, we have been using it ourselves since 2020, and in addition to the extremely good and clear interface, for currently €9, you get a truly all-in-one business account for your business. Since 2022, the Penta bank account has been managed together with Qonto. This merger is expected to bring many advantages:
„The acquisition of Penta is the next step in Qonto’s long-term goal to become the first choice for one million European SMEs and freelancers for business banking by 2025. With Penta – the leading German solution for digital financial management for SMEs, sole proprietors, and freelancers – and its 50,000 customers, Qonto is well-equipped to achieve its ambitions for the German market.“
Source: getpenta.com
Fidor alternative with many more features, user-friendliness, and various additional options for an easier everyday life -> Qonto
For just €9 per month, the following super helpful features are included:
- Advanced features such as sub-accounts, bulk transfers, assignment of invoices & transactions
- Accounting package: invoice processing, digital and certified receipts, automatic VAT recording, tags, etc.
- Invoicing tool: creation and sending of personalized invoices, payment tracking
In addition, there are also large packages for SMEs and larger companies with up to 25 accounts, each with its own IBAN, as well as tools for expense management in a team.
Always included:
- Paperless receipt management: With the Qonto app, you can scan receipts directly after payment. All receipts are stored in compliance with GoBD.
- Real-time push notifications: Track every expense in real-time via SMS and email notifications.
- German IBAN: Your all-in-one account with a German IBAN, Premium Mastercard, and smart accounting tools.
Further features:
- Business account with one or more IBANs
- Business Mastercard cards
- SEPA/SWIFT transfers
- SEPA direct debits
- Many other payment methods
- Simplified accounting
- Team expense management
- Partners and integrations
- Sub-accounts
- DATEV interface with document export
The slogan „100% digital financial management. Anytime, anywhere.“ is not just an empty phrase but truly a program. Both the online interface and the app work simply great.
The Fidor Bank alternative is thus more powerful, even if minimally „more expensive“. Behind the Penta and Qonto brands is again the reliable solaris Bank, which has proven to be a very good cooperation partner for many startups.
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Important Information: The bank account is ideally suited for cooperatives eG and very easy to set up.
In summary, the Fidor alternative as a bank is truly ideally suited and, based on our own experience, more than good for:
- Small businesses (start-ups)
- Freelancers
- Sole proprietorships
- Medium-sized companies & Startups
- Cooperatives (currently still managed as a GbR)
- Foundations
Interesting video:
Here is a review from ConFace about the bank account and alternative in the account comparison:
Experience report of a tax advisor on Penta Bank (now Qonto):
General business account comparison:
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