TrustRadius Insights
Penta has become a go-to software product for small business owners, solving critical business problems and making daily life easier for …
Overview
What is Penta?
Penta is a digital bank account for SMEs and startups designed to let business owners save time and money on banking. The vendor says it offers more features than traditional banks, such as the ability to get multiple Mastercards per…
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Product Details
- About
- Tech Details
What is Penta?
Penta is a digital bank account for SMEs and startups designed to let business owners save time and money on banking. The vendor says it offers more features than traditional banks, such as the ability to get multiple Mastercards per company or low foreign transfer rates.
Penta says its vision is to build a platform of connected services around a bank account which would allow business owners to use one platform for all their financial needs. Penta launched in Germany in January 2018 and will be expanding to other European countries soon.
Penta Features
- Supported: SEPA Transactions
- Supported: Debit Mastercard
- Supported: Multiuser-ability (add multiple users to one bank account)
- Supported: Multi-card ability (issue cards for business partners & employees)
- Supported: Fast account opening (within 48 hours)
- Supported: Support in German and English
Penta Screenshots
Penta Technical Details
| Operating Systems | Unspecified |
|---|---|
| Mobile Application | No |
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Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
Penta has become a go-to software product for small business owners, solving critical business problems and making daily life easier for users. One major pain point solved by Penta is payroll processing, which users have found to be great. It’s not just payroll - day-to-day transactions, payment assistance, and managing expenses are also made more manageable through the use of Penta. The separate tax money section has set Penta apart from other software products and has made it reliable for users.
Another feature of Penta that has been beneficial to business organizations is their debit card feature. Users have appreciated the personal card feature for their accountants, which allows them to make payments without having to ask for permission each time. This feature makes business travels and reimbursements easier for companies, as well as enabling quick tracking of real-time expenditures of employees. With low overall fees and a one-month free trial offered by Penta, it’s no surprise that many small business owners choose Penta to manage their accounts. Despite its current position in serving small-scale businesses well, the potential to meet the needs of mid or large-scale businesses is clear with its offerings.
Ease of Use: Reviewers found Penta's online account opening process very easy and time-saving as it can be opened within 48 hours. They also appreciated Penta's fast transaction processing, which allowed them to perform any transactions within a few clicks.
Cost-Effective: Users appreciated Penta's low account fees with no hidden charges, making it a cost-effective solution for businesses.
Helpful Features: Reviewers thought that Penta was very helpful in keeping the books in order with features such as bookkeeping and budgeting all in a single app. They also found Penta's VISA debit card helpful in tracking team spending without worrying about reimbursements.
Limited User Access: Some users have reported that Penta has limited user access, which means they have to pay extra for additional users. This can be frustrating as every time a new user is added, the subscription must be revised.
Lengthy Joining Process: Some reviewers have found the joining process too long and cumbersome due to the lengthy form. The suggested 48-hour joining period could also be decreased to 24 hours.
Server Issues: Some customers have experienced server issues with Penta, resulting in lag or other problems when handling business transactions.