Receiving a foreign currency payment on Qonto: how much does it really cost (and how to pay less)

What you need to know: a Qonto account only receives in euros

Qonto accepts international transfers in more than 50 currencies via the SWIFT network. But according to its own FAQ, the account can only receive funds in euros: any sum received in a foreign currency is automatically converted before being credited.

In practice, this means that:

• you do not choose the timing of the conversion;

• you do not choose the rate;

• you cannot hold foreign currencies to pay a supplier in the same currency.

For a one-off payment, this is convenient. For regular flows, it is a structural cost.

The 3 layers of fees on a foreign currency payment

1. SWIFT reception fees

According to Qonto's public fee schedule (accessed in September 2026), an incoming SWIFT transfer is free below €500, then charged at €5 excl. VAT beyond that, regardless of the plan. This is the visible, and least significant, part.

2. Intermediate bank fees

A SWIFT transfer often transits through one or more correspondent banks. Each can deduct a fee directly from the amount sent. Qonto states in its FAQ that these fees are generally between €10 and €50. You do not see them on an invoice: the amount simply arrives reduced.

3. The exchange margin: the invisible cost

This is the heaviest item. The rate applied to the conversion is never the interbank rate (the one you see on Google or Reuters). Qonto itself specifies that this rate can vary depending on the date, amount, and currency, and had communicated an estimate of around 2% in a blog post.

Another subtlety: the conversion may be made by your client's bank or by an intermediary bank, even before the funds arrive at Qonto. In this case, no one on your end controls the rate.

Quantified example: what an exporting SME loses

Let's take an SME that receives USD 50,000 per month from an American client.

Over a year, this represents more than €11,000 in lost margin, not counting the effect of volatility: if the dollar drops by 3% between the contract signing and receipt, the loss is added.

For a freelancer receiving CHF 2,000 per month, the impact is more modest (a few tens of euros), but the principle remains the same.

4 solutions to reduce the cost of your foreign currency receipts

1. Request payment in euros by SEPA transfer

If your client is in Switzerland, the UK, or another country in the SEPA zone, they can pay you in euros by SEPA transfer. The conversion is then made by their bank, at their expense. To be included in the contract: the billing currency and the reference rate.

2. Open a multi-currency account

A multi-currency account allows you to receive CHF, USD, or GBP without automatic conversion. You keep the currencies, pay your suppliers in the same currency, and only convert the balance at your chosen time.

3. Negotiate the conversion rate

On regular volumes, a provider specialised in B2B foreign exchange applies a much lower margin than a traditional or digital generalist bank, and communicates it to you before each transaction.

4. Hedge your exchange rate risk

If you know your future receipts (recurring contracts, signed orders), a forward contract allows you to fix today's future conversion rate. You secure your margin, regardless of market developments.

Qonto and a foreign exchange specialist: complementary, not competitors

Qonto remains an excellent tool for managing your day-to-day operations in euros. The right approach is often to keep Qonto as your main account, and entrust your foreign currency flows to a specialised player, then repatriate the euros to Qonto once the conversion has been optimised.

This is exactly the role of OSolto. As an independent payment services broker registered with ORIAS, we compare solutions for you from authorised partners specializing in B2B foreign exchange, and assist you in:

• opening a multi-currency account suited to your flows;

• obtaining negotiated, transparent exchange conditions announced in advance;

• setting up exchange rate hedging if your receipts are predictable;

• all this with a single point of contact, without changing your main bank.

In summary

Receiving foreign currency into a euro account costs far more than the €5 fee shown: the exchange margin and intermediary fees make up the bulk of the bill. Beyond a few thousand euros received per month in foreign currencies, a multi-currency account and a negotiated rate quickly become profitable.

Do you regularly receive payments in CHF, USD, or GBP? Get a free, no-obligation analysis of your foreign exchange costs with an OSolto expert. → Book an appointment

FAQ

Can you receive Swiss francs into a Qonto account?

Yes, via a SWIFT transfer, but the funds are automatically converted into euros: the account does not hold CHF.

How much does it cost to receive a SWIFT transfer on Qonto?

According to Qonto's public fee schedule, it is free under €500 and €5 excl. VAT beyond that, to which any intermediary fees and the margin applied to the exchange rate are added.

What exchange rate is applied to a received foreign currency transfer?

A rate different from the interbank rate, which depends on the currency, amount, date, and the bank performing the conversion.

Can a Swiss client pay in euros via SEPA?

Yes. Switzerland participates in the SEPA zone: a transfer in euros from a Swiss bank to a French IBAN is possible, with no conversion on your end.

At what volume does a multi-currency account become worthwhile?

This depends on your flows, but from a few thousand euros received per month in foreign currencies, the savings on the exchange margin generally exceed the fees of a specialised account.