OCTIS vs Qonto vs Wise Business for Spanish businesses
One is a day-to-day business account with invoicing. The other is built for converting and sending money across borders.
Last checked · 4 sources
Otty's short answer
Qonto is the better everyday account for an autónomo or SL registered in Spain: free Starter plan, Spanish IBAN, invoicing with Verifactu and accountant access. Wise Business suits a business that pays or gets paid abroad often: a one-time €60 fee, no monthly fee and conversion from 0.2%. Many Spanish businesses use one for daily banking and the other for foreign currency.
Side by side
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| What matters | OCTISHong Kong company + OCTIS global plan | Qonto | Wise Business |
|---|---|---|---|
| Entry plan, monthly | 10–30% below your current bill | €0 (Starter) | No monthly fee |
| One-time fee | At least 10% below any qualifying quote (Lowest Price Guarantee) to form the company | None listed | €60 to open |
| Paid plans, monthly | Prices not published | €9, €19, €39 (autónomos) | None |
| Who can open | Hong Kong company, owners can live anywhere | Autónomos and companies in Spain | Not published here |
| SEPA transfers per month | Collect and send payments via licensed partners | 5 on Starter, 30 on Basic | Not published |
| International payments | Foreign exchange via licensed partners | 0.56% to 1.2% by plan, min €5 | Conversion from 0.2% |
| Receive EUR by Swift | Collect payments via licensed partners | Not published | €2.39 per payment |
| Interest on balance | Not an OCTIS product | Check current fee: 1.5% on Qonto France | Not published |
| Invoicing with Verifactu | Not needed for the Hong Kong company; local rules apply if you trade there | Yes, from Starter | Not published |
| Accountant access | Bookkeeping by OCTIS accountants | From Smart | Not published |
| Cash withdrawals | Set by our licensed partner; quoted before you commit | Not published | €250 free, then 2.69% |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you sell to customers in several countries and want company, accounts, banking access and CRM in one place.
Qonto
Choose Qonto if you are an autónomo or an SL in Spain and want one account for invoicing, cards, accountant access and euro payments.
Wise Business
Choose Wise Business if you convert currencies or pay foreign suppliers often, and a €60 one-time fee suits you better than a monthly plan.
What the table does not show
What Qonto costs for autónomos
Qonto's Spanish pricing page lists autónomo plans excluding VAT, on annual billing: Starter at €0 with 5 SEPA transfers and a virtual card, Basic at €9, Smart at €19 and Premium at €39. Team plans run from Essential at €49 to Enterprise at €199. Starter includes a Spanish IBAN and e-invoicing with Verifactu. Qonto charges French VAT, which Spanish companies with an EU VAT number are exempt from.
What Wise Business costs
Wise's Spanish pages say registration is free and list no monthly fee, and list a one-time opening fee of €60. Conversion starts from 0.2%, varying by currency, and card payments from a balance in the same currency are free. Receiving a EUR Swift payment is €2.39. ATM withdrawals up to €250 a month per account are free, then 2.69%. Wise's page does not state who can open an account in Spain or whether you receive a Spanish IBAN.
Different jobs
Qonto is built around running a Spanish business day to day: invoices, expense receipts, cards and an accountant who can log in. Wise is built around moving money between currencies cheaply. Qonto lists international transfers at 1.2% on Starter, 0.8% on Basic and Smart, and 0.56% on Premium, with a €5 minimum, against Wise's conversion from 0.2%. The two are not exclusive, and holding both is common.
Where OCTIS fits
OCTIS is not a bank and does not partner with Qonto or Wise. Whichever account you open, your books still need doing. If you are a Malaysian or Hong Kong company with a Spanish entity, OCTIS bookkeeping can reconcile the home company's statements and help consolidate the Spanish ones. You may get 10–30% off your current bill.
Frequently asked questions
Is there a free business account in Spain?
Qonto's Spanish page lists Starter at €0 per month for autónomos, with a Spanish IBAN, 5 SEPA transfers and a virtual card. Wise has no monthly fee but charges €60 to open. Fees for cards, transfers and conversion still apply on both.
Can an SL open Qonto?
Yes. Qonto says autónomos and companies registered in Spain can open an account, with legal forms such as SL and SA on its page. Its team plans, from Essential at €49 per month, add more cards and users.
Which is cheaper for foreign payments?
Wise lists conversion from 0.2%, and Qonto lists international transfers from 0.56% on Premium to 1.2% on Starter. Wise looks cheaper on conversion, but Qonto's plan also covers daily banking. Price your own mix of currencies and volume before you decide.
Does Qonto handle Verifactu invoicing?
Qonto's page says its Starter plan includes electronic invoicing (Verifactu). Spanish billing software must meet Verifactu rules from 1 January 2027 for corporate tax payers and 1 July 2027 for others, according to the Tax Agency.
Do Qonto and Wise pay interest?
Qonto's Spanish pricing page read here does not state a rate on balances, although its French page lists 1.5% on Smart and Premium after a welcome period. The Wise pages read do not state an interest rate for Spanish business accounts. Check both before relying on it.
Sources
Checked on the date above. Links open the provider's or regulator's own page.