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Penta’s Approach to Pricing

Jeannine Klein
Jeannine Klein November 2018 6 min

Over the last weeks, one of our key goals was to define the pricing of our product. In this post, we will cover:

  • how we found out what is important for our customers when it comes to pricing
  • how our pricing model works
  • how we will reward our customers for helping improve Penta
  • how you can continue to help us to build the best business bank account for you.

How we found out what is important for our customers when it comes to pricing

For the past few weeks, we have been in contact with our customers to define a pricing model for our services. A model that works for both our customers and also us as a business.
This involved many customer interviews, data analysis and various iterations of our pricing model. Eventually, we were able to identify common themes in the feedback from our customers:

  • It is incredibly important for our customers to know what they are actually being charged for, rather than being charged hidden costs which you’re unaware of.

Frequency & clarity of invoices

  • With traditional banks, you receive invoices every half a year and is difficult to understand what you are actually getting charged for.

We took all of this into consideration in order to build our pricing methodology. 

How our pricing works

penta pricing Nov 2018
From 01. February onwards, our three new pricing plans will come officially into effect. Here is a brief overview of the main items of our three pricing plans:

Basic – Basic needs for small businesses

  • Are you just getting started? Do you want to explore Penta?
  • Then this is the perfect plan for you with no monthly commitment, 1 user with a MasterCard and 20 included outgoing SEPA transactions.

Advanced – Banking for growing businesses

  • Is your business is growing and needs more functionalities? Use our Advanced plan (9 EUR per month) to get access to integrations, international payments and much more!
  • You’ll get two users and up to 2 MasterCards. 50 outgoing SEPA transactions are included as well as access to our international payments feature and integrations.
  • Additionally, 2 cash withdrawals per month are included.

Premium – Premium products for premium businesses

  • Is your team growing incredibly fast? Then the Premium plan (19 EUR per month) is the right one for you!
  • With 5 users and up to 5 MasterCards and 100 outgoing SEPA transactions as well as international payments, integrations and access to our Penta OpenAPI you are well equipped to bring your business to the next level!
  • Additionally, 5 cash withdrawals per month are included.

The logic of our pricing

As you can see, each pricing plan includes a certain contingent of included services, such as users, MasterCards or integrations with accounting providers.
This way, we want to make sure that every customer has access to basic banking functionalities at no cost and can get set up quickly.
If you’d like to have more users or access to more functionality, a higher value plan will most likely be better suited to you.

You can immediately upgrade to a higher plan at any time of the month. If you decide to downgrade to a lower-tier plan, the downgrade will come into effect from the first day of the new month. The monthly fee will be calculated on a day-to-day basis so that you get only charged for the days you were on a plan. 

When will you receive invoices from Penta?

You will receive your invoice for any previous month during the first day of the new month. This will also be the time when we will debit the amount from your account. The invoice will contain an itemised breakdown of all the charges that you have occurred in the month before. Penta is obliged to charge 19% VAT on the costs and the VAT is highlighted separately in our monthly invoice so that you can claim it back.

pricing Penta november 2018

Rewarding you with Penta Credits

As more and more of our customers are referring Penta to other business owners, we would like to reward you every time you successfully refer Penta to another business, with Penta Credits. You will receive €25 in Penta Credits that you can use to pay for Penta services. Penta Credits will be deducted from your invoice amount, so that you can save money with every referral. The referral scheme is currently being tested among selected customers and will very soon be rolled out to all customers.

As mentioned, transparency is one of our key values at Penta and we wanted to see this also reflected in our pricing. Hence, as one of the first financial companies in Europe, we give you a real-time overview of your costs directly in your account. You can see the costs you have occurred in a given month on an itemised level and always stay aware of how much you’re spending on banking.

You can always get a full overview of our pricing on our pricing page.

How we will reward our customers for helping improve Penta

Thank you for supporting us so much over the last couple of months to build Penta. As a small gift, we would like to reward you for supporting Penta!
That’s why have upgraded you to a free Premium account until January 31st 2019 and we will waive all your fees until then. You can select one of the three pricing plans that suit your needs until the 31st of January 2019.

Over the next weeks, we will release very interesting features such as MasterCards for employees, accounting integrations (Lexoffice and Debitoor being the first) and much more. We want to give you the opportunity to try them out and see the full power of Penta in action. Because we are now introducing these new features and also introducing our pricing plans, for customers who joined before the 12th of November, we will have new Terms & Conditions coming into effect from February 1st 2019.

As Penta is growing, these new Terms & Conditions will cover more aspects about the relationship between Penta and its customers and are also a preparation of future features which we will be launching. Please make sure to review them and when you select the pricing plan you want to be on.

Customers who are joining on or after the 12th of November will also be able to benefit from a special campaign as we want to make sure that you can use the full power of Penta and its soon-to-come integrations and new features! 

How can you continue to help us build the right product for you?

Getting the pricing of a product right is challenging. Even more so when it is a financial product.
Let us know what you think about it, things we can improve, things you like and how we overall can make sure that the pricing logic fits your business’s needs at every step of the way.

Feel free to email us at!

Mitarbeiterauswahl Penta Karte

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