FAQ

• Do I have a local IBAN?

  In order to offer financial services in Germany, Finom benefits from all the advantages of its partnership with the German company Solaris SE. Therefore, it is possible for customers to receive a German IBAN.

• How safe is my money with Finom?

  Your money is in good hands with Finom, because we guarantee the highest level of security.

  This is primarily thanks to our strong and reliable partnership with Solaris SE (Germany) and Treezor (France), approved by regulators to operate as a bank (Solaris SE) and as an election money institution (Treezor). This means that your business account with Finom is protected by deposit insurance (up to € 100,000) which is made available in accordance with applicable local rules and legislation.

  In France:
  https://help.finom.co/en/articles/4689140-i-m-in-france-is-my-money-protected

  In Germany:
  https://www.solarisbank.com/customer-information/germany/de-iban/german/informationen-zur-einlagensicherung

• Is my data safe with Finom?

  Finom protects your data and guarantees the highest level of security:

  • Finom has no access to your online credentials, and they are double-encrypted (for additional protection) using a one-time password that must be entered each time you try to log in.
  • All data transfers are transmitted over TLS-encrypted channels and are thereby protected via end-to-end encryption. In addition, Finom is DSGVO compliant, which means that you can close your account at any time and revoke your consent to the processing of your personal data at any time. We do not store your data against your will or without your explicit consent.
• What licence does Finom use?

  To better manage your account and provide you with the highest level of security, we work with Treezor a French fintech company and Solaris SE a German fintech company in the financial services area to provide you with an IBAN and process your payments.

• Who are Finom’s investors?

  Finom has gained the interest and trust of global investors. They include Target Global (already an investor in companies such as Omio and TravelPerk), General Catalyst (a Silicon Valley venture capital fund that has backed companies such as Airbnb and Kayak), and FJ Labs, a New York City-headquartered, phase-independent, consumer-focused fund founded by Fabrice Grinda, the No. 1 angel investor in the world, according to Forbes.

• Can entrepreneurs from any country open an account?

  Currently, you can easily open a business account with Finom for companies that are based and do business in France or Germany. The legal representative (the only person who can open a business account on behalf of a company), as well as the beneficial owners, must have a valid residence permit in one of these two countries, regardless of the country of issue of his or her passport/ID card.

  We plan to add more European countries in the future. However, if you are the owner of a company based in the US or if US taxpayers have an interest in your company, we are currently unable to open a business account for you (due to the FATCA agreement).

• How can I withdraw funds from my account or make deposits into it?

  With a Finom business account, you have access to the same important services that a traditional bank account provides, such as the ability to withdraw and deposit your money from the account.

  To make a deposit to your account, you can make a SEPA transfer from your current bank account. To make a withdrawal, you can use your physical Finom card at all European ATMs. This allows you to withdraw up to € 10,000 per month free of charge.

• Can I make only SEPA transfers, or are SWIFT payments also possible?

  A Finom business account allows you to make SEPA transactions. Currently we cannot offer SWIFT transactions, but they will be supported in the future.

• What documents do I need to open an account?

  Whether you are a freelancer or represent a company, opening your FINOM business account only takes a few minutes. Don’t forget that you will need:

  • Email address and password that you used for the pre-registration (if you forgot them, click ’forgot password’)
  • Have your ID or passport ready to verify your identity
  • Don’t forget to keep all the information about your business next to you.
• Who is the legal representative?

  To open your Finom business account, you must be the legal representative of your company. Legal representative means a natural person who is authorized to act on behalf of the company and is empowered to perform all actions related to the general administration of the company in accordance with the company’s purpose, such as a CEO.