Due to the conclusion of our partnership with Solaris SE, Succursale Italiana, Finom will no longer be able to offer banking services through PNL Fintech B.V. (Finom). Solaris SE will terminate all business relationships under this arrangement, pursuant to Section 1, paragraphs 5 and 15 of its General Terms and Conditions (GTC). This means that after the termination date, your current Finom account with Solaris will be closed, since all Finom-Solaris products are terminated.
To inform you of these changes, a termination notice has been sent 2 months prior to termination date with detailed instructions on what will happen to your Solaris account and how you can transition to the new Finom X account. You will receive several reminders closer to the termination date, ensuring you have time to complete the required steps.
What will happen to your Solaris account
Your Solaris banking accounts will be closed on termination date, so you will not be able to use banking services provided by Solaris SE. But you will retain access to the company account and all relevant account history.
This includes full transaction and invoicing history, access to e-invoicing features and other information like the list of your counterparties. You will still be able to use your Solaris company profile for invoicing purposes. This access ensures that essential information remains available for tax and accounting purposes, allowing you to collect and utilize the necessary data even after the closure of your Solaris accounts.
How you can upgrade to a new Finom X account
To continue using banking services with Finom and gain access to the new Finom X account, you can easily open a new company account with Finom. Finom X brings exciting new features. Here’s what’s waiting for you:
- Free infinite virtual cards and up to 3 physical cards, all with up to 3% cashback(availability is subject to chosen pricing plan);
- One-click accounting and tax reporting integrations to top services, free of charge;
- Instant transfers across the eurozone in just 10 seconds, 24/7, any day of the year;
- Rapid international payments to 180+ countries in 18 currencies with real-time exchange;
- Boosted card payment limits of €100,000 and increased ATM withdrawal limits.
How to open Finom X account
You can open a new account with Finom following this steps:
1. Click the link provided in the termination notice email to be directed to the dashboard, or log into the existing Solaris company account directly.
2. On your main dashboard, you will see a prominent banner indicating the upgrade option.
3. By clicking the “Update Now” button, a new company account will be created. Please note that your Solaris account will not be deleted and will still be available.
4. You will need to complete new Finom X onboarding process, that includes:
- Providing your business details, including your tax number (Codice Fiscale), VAT number (Partita IVA) and your ATECO code.
- Providing details regarding your business activity.
- Providing your personal details & going through Identity verification.
- Choosing the new tariff plan among those proposed by Finom X.
5. Your Finom X wallet will have a new IT IBAN. Make sure to inform your counterparties of your new payment details to avoid disruptions with direct debits or scheduled payments.
How to navigate between Solaris and Finom X accounts
After completing the new onboarding, you will gain access to a newly created Finom company account. Your Solaris account will still be available and you can manage both accounts and switch between them by clicking on the user profile in the top right corner and choosing one of the 2 companies. Please note that these companies will have the same name, so you can differentiate between them by looking at the prefix - Solaris company will have “[DE]” prefix in front of it, while your new Finom X company will have “[IT]” prefix in front of it.
Transition period
During the 2 months prior to Solaris account termination date, you will be able to continue use the account fully without any interruptions. Your transaction and invoicing history will be safely stored in your Solaris account, you can also continue to use invoicing and e-invoicing features as usual.
If you decide to open a Finom X account, your transaction and invoicing history will remain safely stored in your Solaris account and will not be migrated to your Finom X account. You can make a switch and start using your new Finom X account for your new accounting and invoicing purposes at any time that feels convenient to you and is appropriate for your tax and accounting needs.
How to migrate e-invoicing
If you are using the e-invoicing features, your e-invoicing profile is connected to your Solaris account. You can continue to use it even after you have opened a Finom X profile.
We are currently still working on an automated solution to help you migrate all e-invoicing features into a new Finom X account. Once the solution is ready, you will be prompted to migrate your e-invoicing profile to the new Finom X company.
Please keep in mind that you can make this switch whenever it is more convenient to you and your invoicing and accounting needs.
After switching e-invoicing profile to the new Finom X account, you will not be able to use e-invoicing in your Solaris account.
What will happen to your subscription?
If you have an active annual subscription, the cost of the remaining months will be refunded to your current Solaris wallet. If you decide to open a Finom X company during the 2 month transition period, you will not be charged for the Finom X account while you have both Solaris and Finom X active accounts.
What will happen to my transaction, invoicing and other account history?
You will retain access to the Solaris company account and all relevant account history. This includes full transaction and invoicing history, access to e-invoicing features and other information like the list of your counterparties. You will still be able to use your Solaris company account for invoicing and accounting purposes.
How should I manage remaining funds on my Solaris account?
Please ensure you have €0.00 balance remaining before termination date. Log in to your account and transfer all your funds to your new Finom X account or other bank account by the termination date to avoid any disruptions. Make sure to settle your account balance if it’s overdrawn.