A periodic review is a regular check that Qonto is legally required to carry out on all business accounts that are already active. It ensures that your identification information is kept up to date. It has nothing to do with the initial validation of your account when it was opened: it takes place once your account has been running normally for some time.
This isn't a sign that anything unusual has been detected on your account: it's an obligation that applies to all our customers, on a regular basis.
Why is Qonto asking me for a periodic review?
As a regulated payment institution, Qonto is subject to the French Monetary and Financial Code and to anti-money laundering and countering the financing of terrorism (AML/CFT) obligations. This requires us to periodically check that the information about your business (activity, legal representatives, persons authorized to operate the account, beneficial owners, financial situation...) is still accurate and up to date, not just at the time your account was opened.
How often could I be asked for a periodic review?
The frequency varies from one customer to another, depending on internal criteria linked to the characteristics of your account or to specific events that might make the information we hold outdated. You don't need to anticipate or calculate anything yourself: we'll contact you directly, with all the necessary details, when a review is due on your account.
What documents might I be asked for?
Depending on your situation, we may ask you for:
a valid proof of identity for the legal representative(s) and beneficial owner(s), only if there has been a change;
confirmation or an update of your business information (address, shareholding structure, tax residency country...);
documentation related to your business activity (invoice, contract, website);
the company's up-to-date Articles of Association, if there has been a change since the last check;
your company's latest annual accounts;
an up-to-date extract from the Beneficial Owners Register (RBE);
an origin of funds certificate;
a completed Know Your Customer (KYC) form, if a more in-depth review of your file is required.
The exact list of documents requested is indicated in the message you receive (email + in-app notification). If an additional document turns out to be necessary later on, we'll inform you explicitly.
Submitting your documents doesn't mean automatic validation: our teams need to review them to confirm they are complete and acceptable.
What is the deadline for responding?
The exact deadline is indicated in the email and notification you receive. We recommend responding as soon as possible. After this date, your access to our services will be restricted and your account may be suspended.
How do I respond to a periodic review request?
The direct link to the form you need to fill in is in the email and notification you receive, as well as in your Qonto app (banner or "Documents" section). You can submit your documents directly online, in PDF, JPG, PNG or GIF format (30 MB maximum per file).
Who needs to fill in the form or provide the documents?
The form must be filled in by the person explicitly named in the email or notification (usually the relevant legal representative or beneficial owner), and not by a shareholder, an agent, or an employee, even if they have access to the account. If the designated person is unable to do it themselves, contact our support team before the deadline to find out about the delegation procedure.
I've already sent my documents, why is my file still pending?
Once your documents are received, our teams need to check them before validating your file. This processing time can take up to 10 business days. You'll receive a confirmation as soon as the review is complete. If you haven't heard anything after the indicated deadline, contact our support team and provide the legal name of the company concerned. We'll be able to give you more information.
Is my account suspended for the entire duration of the review?
No. Your account remains fully active as long as you respond within the deadline. Suspension, and the resulting restricted access, only happens if the deadline passes without a response from you. This never happens before that, and never without prior notice.
What happens if I don't respond in time?
If the requested information and/or documents are not provided to us before the deadline, your account is suspended, and you'll only have access to our services on a restricted basis.
In practice, debit and credit operations on your account are blocked. You can no longer make payments, transfers or direct debits, nor receive them, but you keep read-only access to your account, your history and your documents.
Your funds remain secure and belong to you. They are not permanently blocked or seized. After 6 months of suspension and without a response from you to our requests, your account will be closed. You'll be notified of this decision, which will only take effect after the notice period set out in our Terms and Conditions. A funds return procedure will allow you to recover your assets.
Once the complete documents have been received and validated, full access to your account is restored.