Zento.app Review

Based on checking the website Zento.app, it presents itself as a digital platform offering business accounts and payment services through its partner, B4B Payments.

While the service aims to simplify financial management for entrepreneurs, a strict review, especially from an ethical standpoint in Islam, reveals significant concerns.

The platform’s core offerings revolve around standard financial services, which inherently involve interest-based transactions and conventional banking models that are not permissible.

Therefore, Zento.app cannot be recommended for those seeking Sharia-compliant financial solutions.

Overall Review Summary:

• Service Type: Business accounts, prepaid Mastercard cards, forex exchange, and payment transfers.
• Target Audience: Entrepreneurs and businesses of various sizes.
• Key Partner: B4B Payments authorized by FCA and Bank of Lithuania.
• Ethical Compliance Islam: Not compliant due to involvement in interest riba and conventional banking practices.
• Transparency: States “No hidden fees applied” but also mentions reliance on B4B Payments for service provision, which might obscure full details of the underlying financial mechanisms.
• Security: Claims strong security measures with two-factor authentication and updated policies.
• Customer Support: Offers live chat, email, and phone support.

The detailed explanation reveals that Zento.app is essentially a front-end platform providing access to the financial services of B4B Payments.

These services, while convenient for many conventional businesses, include aspects like currency exchange with fees, card load fees, and the fundamental nature of bank accounts and prepaid cards in a conventional financial system, which typically involves interest riba at various levels.

For a Muslim professional seeking Sharia-compliant financial solutions, engaging with such platforms is problematic.

The underlying financial mechanisms of conventional banking and payment systems are built on principles that clash with Islamic economic guidelines, primarily the prohibition of interest.

Therefore, despite the apparent ease of use and features, the ethical implications for a Muslim make Zento.app unsuitable.

Best Alternatives for Ethical Financial Management Sharia-Compliant:

For those prioritizing ethical, Sharia-compliant financial practices, the focus shifts away from conventional banking and payment systems.

Instead, solutions that emphasize asset-backed financing, profit-sharing, and interest-free transactions are preferred.

It’s crucial to understand that direct “alternatives” in the exact same format as Zento.app’s conventional offerings e.g., interest-bearing current accounts or conventional prepaid cards do not exist within a strictly Sharia-compliant framework because the underlying principles differ.

However, alternatives can be found in the form of ethical business practices and financial tools that align with Islamic principles.

1. Islamic Banks or Financial Institutions e.g., Guidance Residential, Ameen Housing Cooperative:

   • Key Features: Offer Sharia-compliant banking services, including Mudarabah profit-sharing accounts, Musharakah partnership financing, Murabaha cost-plus financing for assets, and Takaful Islamic insurance schemes. These institutions operate without interest.
   • Price: Varies based on services. often involves profit-sharing ratios or agreed-upon mark-ups for asset-backed financing.
   • Pros: Fully Sharia-compliant, ethical investment opportunities, community-focused.
   • Cons: Fewer branches or digital services compared to conventional banks, potentially higher transaction fees for some services, limited product range.

2. Islamic Microfinance Institutions:

   • Key Features: Provide small-scale, interest-free loans Qard Hasan or equity financing to individuals and small businesses, often focusing on poverty alleviation and economic empowerment.
   • Price: Typically no interest. may involve service charges or profit-sharing.
   • Pros: Supports ethical economic development, helps underserved communities, aligns with social justice.
   • Cons: Often localized, limited funding, strict eligibility criteria.

3. Halal Investment Platforms e.g., Wahed Invest, IdealRatings:

   • Key Features: Offer Sharia-compliant investment portfolios that exclude companies involved in alcohol, gambling, conventional finance, and other prohibited activities. Investments are screened for ethical compliance.
   • Price: Management fees e.g., 0.49% to 0.99% annually for Wahed Invest.
   • Pros: Diversified ethical investments, professional management, accessible for various investment sizes.
   • Cons: Returns dependent on market performance, limited customization of portfolios, fees apply.

4. Ethical Payment Processors e.g., Stripe, PayPal – used for permissible transactions:

   • Key Features: While not inherently “Islamic,” these platforms facilitate online payments for businesses. The key is to ensure the underlying business transactions are permissible and that any associated fees are service charges, not interest. Businesses can use these for selling permissible goods and services.
   • Price: Transaction fees e.g., 2.9% + $0.30 per transaction for Stripe.
   • Pros: Widely accepted, robust features, integration with e-commerce.
   • Cons: Requires careful management to ensure all linked financial activities remain Sharia-compliant. not a full banking alternative.

5. Cloud-based Accounting Software e.g., QuickBooks Online, Xero:

   • Key Features: Essential for managing business finances, tracking income and expenses, invoicing, and preparing taxes. These tools help maintain clear financial records, which is crucial for ethical business practices.
   • Price: Monthly subscriptions e.g., QuickBooks Online starts around $30/month.
   • Pros: Streamlines financial management, accurate record-keeping, integrates with other business tools.
   • Cons: Requires initial setup and learning curve, subscription costs, not a financial service provider in itself.

6. Project Management Software e.g., Asana, Trello:

   • Key Features: While not directly financial, robust project management helps businesses operate efficiently and ethically by ensuring transparency in work, accountability, and proper resource allocation, leading to permissible earnings.
   • Price: Free basic plans, paid plans start around $10-15/user/month.
   • Pros: Improves productivity, fosters collaboration, clear oversight of projects.
   • Cons: Not directly related to financial transactions, requires team adoption.

7. VPN Services for Secure Online Operations e.g., NordVPN, ExpressVPN:

   

   • Key Features: Essential for securing online business transactions and protecting sensitive data, promoting a secure and trustworthy digital environment. This is a foundational ethical practice in data protection.
   • Price: Monthly or annual subscriptions e.g., $3-$10/month.
   • Pros: Enhanced privacy, data security, protection against cyber threats.
   • Cons: Subscription cost, can sometimes slow down internet speeds.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Zento.app Review & First Look: A Deep Dive into a Conventional Financial Platform

Based on looking at the website zento.app, it aims to position itself as a modern digital platform designed to simplify business finance for entrepreneurs across Europe, particularly in Denmark, through its partnership with B4B Payments.

The site emphasizes ease of use, quick onboarding, and a range of services from business accounts to prepaid cards and foreign exchange.

It’s pitched as a solution to help businesses “fly,” promising efficient operations and responsive customer support.

However, from an ethical standpoint for a user committed to Sharia-compliant finance, the platform’s foundation within the conventional financial system raises immediate red flags.

The term “Zento.app review” quickly leads to the realization that this is a typical fintech offering, deeply embedded in interest-based financial mechanisms and conventional banking, which are contrary to Islamic principles.

The convenience of “zento app login” for quick access doesn’t change the underlying non-permissible nature of the services.

Zento.app Core Offerings: Standard Banking Services

The website clearly outlines the services provided:

• Business Accounts: Local DKK accounts with NemKonto, EUR, and GBP accounts.
• Cards: Prepaid Mastercard cards virtual and physical.
• Payments: Send and receive via SWIFT, SEPA, and local transfers.
• Forex: Exchange and pay in 36 currencies.
• Additional Features: Accounting system integration e-conomic, Kontolink, one-click tax payment support, multi-user access.

These offerings, while functional in the broader economy, are characteristic of conventional banking that operates with interest riba. For example, the very concept of a traditional “account” within such a system implies a relationship that often involves interest, whether explicitly stated or implicitly embedded in the financial ecosystem.

The platform also details “Incoming payments” and “Currency exchange” fees within its pricing plans, which are typical characteristics of services built on a conventional banking model.

Zento.app Operational Model: B4B Payments Partnership

Zento.app explicitly states that “All payment services are provided by B4B Payments and B4B Payments Europe.” This means Zento.app acts as an interface to B4B Payments, which is authorized by the Financial Conduct Authority FCA in the UK and the Bank of Lithuania as an Electronic Money Institution EMI. EMIs operate within the conventional financial regulatory framework, which includes interest-based transactions, lending, and other practices prohibited in Islamic finance. Jerseydor.com Review

This partnership is central to understanding why Zento.app, despite its user-friendly interface, cannot be deemed ethical from an Islamic perspective.

The security claims, such as two-factor authentication and updated security policies, are standard for financial institutions and do not address the core issue of Sharia compliance.

Zento.app Pros & Cons: An Imbalance for Ethical Users

When evaluating Zento.app, it’s critical to frame the “pros” and “cons” through the lens of ethical and Sharia-compliant finance.

For conventional users, the platform might offer significant benefits, but for those adhering to Islamic principles, the downsides are overwhelming.

Significant Cons for a Sharia-Compliant User

The primary concern with Zento.app, from an Islamic ethical standpoint, is its direct engagement with and facilitation of services through a conventional financial institution, B4B Payments, which operates within an interest-based system.

• Involvement with Riba Interest: The fundamental issue. Conventional bank accounts, payment transfers, and forex services, even if not directly charging “interest” to the user, are part of an ecosystem built on interest. Banks derive a significant portion of their profits from interest, and funds held in such accounts are part of this cycle. For example, traditional prepaid cards often involve interchange fees and other mechanisms linked to interest-bearing activities of the issuing bank.
• Lack of Sharia Compliance Certification: There is no mention of Zento.app or B4B Payments being audited or certified by any recognized Sharia board or scholar. This is a critical omission for any service claiming to be suitable for Muslim users.
• Conventional Financial Products: The core products—business accounts, Mastercard cards, SWIFT/SEPA transfers—are standard conventional financial instruments. These are not designed with Islamic finance principles e.g., Murabaha, Musharakah, Ijarah, Qard Hasan in mind.
• Implicit Support for Impermissible Industries: While not explicitly stated, general business accounts and payment services can be used to facilitate transactions for industries that are not permissible in Islam e.g., alcohol, gambling, conventional entertainment. An ethical platform would typically have mechanisms to avoid this.
• Limited Transparency on Underlying Operations: While Zento.app promises “transparent pricing,” the underlying operations of B4B Payments, as a conventional EMI, are governed by standard financial regulations that do not align with Islamic finance principles. The user does not have control over how their funds are invested or utilized within the broader B4B Payments ecosystem, which likely involves interest-generating activities.

Apparent Pros from a Conventional Perspective, but not for Ethical Users

For a user not concerned with Sharia compliance, Zento.app might appear to offer some benefits:

• Ease of Onboarding: The website emphasizes a “friendly guide” and “just four documents” for application, promising a quick setup 2-3 business days for review, 1-2 for activation.
• Digital Convenience: Available on “all platforms” with a “user-friendly interface,” facilitating easy management of finances. The “zento app login” process appears straightforward.
• Diverse Currency Support: Ability to exchange and pay in 36 currencies, useful for international businesses.
• Integration with Accounting Software: Seamless integration with e-conomic and Kontolink, aiming to simplify bookkeeping and tax payments.
• Customer Support: Availability of live chat, email, and phone support, indicating readiness to assist users.

However, these “pros” are superficial when the fundamental service is non-compliant with Islamic finance.

Convenience should never outweigh adherence to ethical principles.

Zento.app Pricing: An Analysis of Conventional Fee Structures

Zento.app offers three main pricing plans: FREE, FLEX, and PRO, catering to businesses of different sizes and transaction volumes.

Each plan is available in DKK, GBP, and EUR, with varying monthly fees, sign-up fees, and transaction charges. Swyftpos.com Review

A detailed look at the pricing reveals standard conventional financial service fees, which, again, reinforces the non-compliant nature of the platform from an Islamic perspective.

FREE Plan

• Monthly Fee: 0 DKK / 0 £ / 0 €
• Features: 1 DKK business account, 1 Virtual prepaid Mastercard.
• Sign-up Fee: 999 DKK / £115 / €135
• Incoming Payments: 1% DKK/EUR, £0.5 + 0.5% GBP
• Currency Exchange: 2.75%
• Card Load: 2%
• Local Danish Payments: 15 DKK
• Faster Payments GBP: £0.5
• SEPA EUR: €2

This plan, while appearing “free” in terms of monthly fees, still levies significant transaction-based charges, including a steep sign-up fee.

The currency exchange fees and card load fees are typical of conventional financial institutions and represent income streams often linked to interest-based capital.

FLEX Plan

• Monthly Fee: 399 DKK / 49 £ / 53.99 €
• Features: 1 DKK business account, 1 Virtual prepaid Mastercard, 1 Physical prepaid Mastercard.
• Sign-up Fee: 999 DKK / £115 / €135 same as FREE
• Incoming Payments: 0.2% lower than FREE
• Currency Exchange: 1% lower than FREE
• Card Load: 1% lower than FREE
• Local Danish Payments: 10 DKK

The FLEX plan reduces transaction fees for higher volume users but introduces a monthly subscription fee.

The structure remains the same as the FREE plan, with fees for fundamental financial operations like incoming payments and currency exchange, which are common in conventional banking and still fall under the ethical concerns related to interest and non-Sharia-compliant models.

PRO Plan

• Monthly Fee: 799 DKK / 89 £ / 106.99 €
• Features: 2 Accounts in DKK, GBP, EUR, 3 Virtual prepaid Mastercard, 3 Physical prepaid Mastercard.
• Sign-up Fee: 2999 DKK / £349 / €399 significantly higher
• Incoming Payments: FREE
• Currency Exchange: 0.75% lowest
• Card Load: 1%
• Local Danish Payments: FREE
• Faster Payments GBP: FREE
• SEPA EUR: FREE

The PRO plan offers reduced or waived transaction fees for high-volume users, but with a substantially higher monthly and sign-up fee.

This model is typical for conventional business banking, where larger clients receive better rates on core services in exchange for higher fixed fees.

The reliance on such a fee structure, particularly for a platform that facilitates core banking functions through a conventional EMI, continues to pose ethical conflicts for a Muslim user.

Zento.app Alternatives: Embracing Ethical Financial Practices

Given that Zento.app operates within a conventional financial framework involving interest riba, it is not a suitable choice for businesses or individuals seeking Sharia-compliant solutions.

The real alternatives are not direct competitors that offer the same product but rather ethical services and practices that align with Islamic principles. Illumicrate.com Review

The focus should be on avoiding interest and engaging in permissible transactions.

Islamic Banks and Financial Institutions

For a comprehensive Sharia-compliant banking experience, the best alternatives are dedicated Islamic financial institutions.

These institutions structure their products and services to adhere to Islamic law, avoiding interest and engaging in asset-backed or profit-sharing transactions.

• Al Rayan Bank UK: A leading Islamic bank in the UK, offering Sharia-compliant personal and business banking services, including current accounts, savings, and property financing.
• American Finance House LARIBA USA: Provides Sharia-compliant financing for homes and businesses in the US, based on Murabaha cost-plus-profit and Musharakah partnership principles.
• Kuwait Finance House Global: One of the pioneering Islamic banks globally, offering a wide range of Sharia-compliant corporate and retail banking services.

Ethical Microfinance and Qard Hasan Interest-Free Loans

For smaller business needs or community-based financial support, ethical microfinance initiatives and Qard Hasan benevolent loan schemes offer interest-free alternatives.

• Islamic Relief Worldwide Microfinance Programs: While primarily a charity, many Islamic NGOs have microfinance initiatives to empower entrepreneurs with interest-free capital.
• Local Community Funds/Waqf Institutions: Many Muslim communities or masjids have established funds that provide interest-free loans to members for legitimate business or personal needs. These are often community-driven and based on mutual support.

Halal Investment Platforms

For managing and growing business capital in a Sharia-compliant manner, these platforms screen investments to ensure they align with Islamic ethical guidelines.

• Wahed Invest: An online halal investment platform offering diversified portfolios of Sharia-compliant stocks, sukuk Islamic bonds, and gold.
• Islamicly App: While primarily an app for stock screening, it empowers users to identify Sharia-compliant stocks for direct investment, bypassing conventional brokers who might deal in interest.

Conventional Tools with Sharia-Compliant Application

Certain conventional business tools can be used in a Sharia-compliant manner, provided the underlying transactions and financial relationships remain permissible.

• Stripe or PayPal for Payment Processing: These platforms facilitate online transactions. Businesses can use them for selling permissible goods and services, ensuring that any fees are service charges and not interest. The key is in the application of the tool within a Sharia-compliant business model.
• QuickBooks Online or Xero for Accounting: These software solutions help manage income, expenses, and financial records. They are neutral tools. their permissibility depends on the nature of the business transactions being recorded.
• Google Workspace formerly G Suite or Microsoft 365: For general business operations, communication, and document management. These are essential productivity suites that are permissible as long as they are used for legitimate business activities.

The crucial point is that Zento.app, by its very nature as a conventional financial intermediary, falls outside the scope of ethical finance for a Muslim.

True alternatives involve a fundamental shift in the approach to financial transactions, prioritizing Islamic principles over conventional convenience.

How to Cancel Zento.app Subscription: Navigating Disengagement from Non-Compliant Services

While the Zento.app website doesn’t explicitly detail a “cancel subscription” button or a dedicated cancellation process on its public pages, it’s crucial for users who inadvertently signed up or are seeking to disengage from non-Sharia-compliant financial services to understand how to terminate their relationship.

Typically, with financial platforms, cancellation processes involve direct communication with customer support and might require formal written notice. Roboforex.org Review

General Steps for Canceling Digital Financial Services

Based on standard industry practices for online financial platforms like Zento.app, the following steps are likely to be involved:

1. Review Terms and Conditions: Before initiating cancellation, it’s vital to review the terms and conditions or the service agreement provided by Zento.app and B4B Payments. This document will outline the official cancellation policy, notice periods, potential exit fees, or any requirements for account closure. Look for sections on “Account Termination,” “Cancellation Policy,” or “Service Agreement.”
2. Contact Customer Support: The most direct route to cancellation is usually through the platform’s customer support. Zento.app offers multiple contact channels:
   • Live Chat: Often the quickest way to get an initial response.
   • Email: [email protected] is provided on the website. Sending a formal email is advisable as it creates a written record.
   • Phone: +45 89 87 57 89 is listed. A phone call can clarify details immediately.
3. Formal Written Request: Even if initial contact is via chat or phone, it’s highly recommended to follow up with a formal written request via email or, if required, postal mail. This request should clearly state your intention to cancel your Zento.app subscription and close your account, providing all necessary account details e.g., account number, registered email, business name.
4. Transfer Funds: Before closing the account, ensure all funds are transferred out to a permissible alternative account. This step is critical to avoid any remaining balances being locked or incurring further fees.
5. Confirm Cancellation: Do not assume the account is closed until you receive a formal confirmation from Zento.app or B4B Payments. This confirmation should state that your subscription has been terminated and your account closed, and that no further charges will apply. Keep this confirmation for your records.

Considerations for Subscription Cancellation

• Notice Periods: Some financial service agreements require a notice period e.g., 30 days before an account can be fully closed.
• Outstanding Fees: Check for any outstanding fees or charges that might be due upon cancellation. While Zento.app states “no hidden fees applied,” cancellation terms can sometimes include specific charges.
• Associated Services: If you have integrated Zento.app with other services e.g., accounting software, payment gateways, ensure these integrations are properly disconnected to prevent errors or unauthorized access post-cancellation.
• Data Archiving: Before closing, ensure you have downloaded and archived any necessary financial data, statements, or reports from your Zento.app account for your business records.

By following these steps, users can systematically disengage from services that do not align with their ethical and religious principles, ensuring a clean break from non-compliant financial practices.

How to Cancel Zento.app Free Trial: Prudent Disengagement

For users who might have signed up for a “free trial” or an initial “FREE” plan with Zento.app, understanding how to cancel before incurring further charges or deepening engagement with a non-Sharia-compliant service is crucial.

While Zento.app’s “FREE” plan is stated to have no monthly fee, it does involve a significant sign-up fee and various transaction charges.

Therefore, canceling a “free trial” or transitioning out of this initial stage is about minimizing interaction with an ethically problematic platform.

Absence of a Traditional “Free Trial”

It’s important to note that the Zento.app website doesn’t explicitly advertise a typical time-limited “free trial” that automatically converts to a paid subscription after a set period. Instead, it offers a “FREE” plan.

This plan itself has a DKK 999 / £115 / €135 sign-up fee, meaning it’s not entirely free from initial costs.

However, the intent to disengage from even this “free” yet non-compliant service remains valid.

Steps for Disengaging from the “FREE” Plan

The process for discontinuing the “FREE” plan or any initial engagement with Zento.app will largely mirror the subscription cancellation process, focusing on account closure to cease all interaction with the conventional financial system it represents.

1. Identify Account Status: Confirm that you are indeed on the “FREE” plan. Although it has no monthly fee, you might have already paid the sign-up fee and incurred transaction charges for any activity.
2. Review Service Agreement: Access the terms and conditions provided by Zento.app and B4B Payments. Look for clauses related to account closure, minimum balances, or any fees associated with early termination, even from a “free” tier.
3. Contact Support Immediately: Initiate contact with Zento.app’s customer support as soon as you decide to cease using the service.
   • Email: Send a clear email to [email protected] stating your desire to close your account. Include your business name, account ID, and registered email address. This creates a documented record.
   • Live Chat/Phone: Use these channels for immediate clarification or to expedite the process, but always follow up with an email.
4. Transfer Out Any Funds: If you have initiated any transactions or received funds, ensure all balances are transferred out of your Zento.app account to a Sharia-compliant alternative account e.g., at an Islamic bank or through permissible methods. This is a critical step to prevent any remaining funds from being held within the conventional system or incurring further charges.
5. Request Account Closure Confirmation: Demand a written confirmation via email from Zento.app that your account has been fully closed and that no further charges, including any recurring monthly fees if you considered upgrading later, will be applied.
6. Deactivate Integrations: If you linked Zento.app with any accounting software e.g., e-conomic, Kontolink or other business tools, ensure these connections are severed to prevent any unauthorized data exchange or operational issues post-closure.
7. Data Retrieval: Before final closure, download any statements, transaction histories, or other relevant data for your records.

By taking these proactive steps, users can minimize their exposure and financial entanglement with services that do not align with Islamic ethical principles, even if the initial engagement was under a “free” or introductory plan. Urbanpeaches.com Review

Zento.app vs. Ethical Alternatives: A Fundamental Divergence

Directly comparing Zento.app to “ethical alternatives” is like comparing apples to oranges, as they operate on fundamentally different principles.

Zento.app functions within the conventional financial system, which inherently involves interest riba and practices that are not permissible in Islamic finance.

Ethical alternatives, on the other hand, are specifically designed to adhere to Sharia principles, avoiding interest, gambling, uncertainty gharar, and promoting asset-backed or profit-sharing transactions.

The comparison below highlights this fundamental divergence rather than a feature-by-feature competition.

Zento.app Conventional Financial Platform

• Financial Model: Based on conventional banking principles, including charging and earning interest riba through its partner B4B Payments’ operations.
• Products: Standard business accounts, conventional prepaid Mastercard cards, SWIFT/SEPA transfers, and forex with fees. These are products of the interest-based financial system.
• Revenue Streams: Sign-up fees, monthly subscription fees, transaction fees incoming payments, currency exchange, card load, which are typically calculated based on the volume of transactions or services within a conventional framework.
• Regulatory Compliance: Regulated by conventional financial authorities FCA, Bank of Lithuania that do not incorporate Sharia compliance.
• Ethical Stance Islamic: Not compliant. Engages in activities prohibited in Islam, primarily riba.
• Target Audience: Businesses seeking convenient, fast access to conventional financial services, regardless of ethical considerations.

Ethical Alternatives Sharia-Compliant Financial Solutions

These alternatives offer a framework for financial transactions that align with Islamic principles. They are not necessarily direct like-for-like product replacements but rather a different way of doing business finance.

1. Islamic Banks/Financial Institutions e.g., Al Rayan Bank, Guidance Residential

   • Financial Model: Operates on Sharia-compliant principles like Murabaha cost-plus financing, Musharakah profit-sharing partnerships, Mudarabah trustee finance, Ijarah leasing, and Qard Hasan benevolent loans. All transactions avoid interest.
   • Products: Sharia-compliant business accounts often profit-sharing accounts, ethical investment funds Sukuk, halal equities, and asset-backed financing solutions e.g., Islamic home finance.
   • Revenue Streams: Profit-sharing from investments, mark-up on asset sales Murabaha, rental income from leased assets Ijarah, or service fees that are clearly defined and not linked to interest.
   • Regulatory Compliance: Regulated by conventional financial authorities and overseen by an independent Sharia Supervisory Board to ensure adherence to Islamic law.
   • Ethical Stance Islamic: Fully compliant. Dedicated to upholding Islamic financial ethics.
   • Target Audience: Individuals and businesses committed to Sharia-compliant financial dealings.

2. Halal Investment Platforms e.g., Wahed Invest

   • Financial Model: Invests exclusively in Sharia-compliant assets, avoiding industries and companies involved in alcohol, tobacco, gambling, conventional finance, etc.
   • Products: Diversified investment portfolios, usually composed of Sharia-compliant equities, Sukuk, and gold.
   • Revenue Streams: Management fees charged as a percentage of assets under management.
   • Regulatory Compliance: Regulated by financial authorities in their respective jurisdictions, with an added layer of Sharia compliance screening.
   • Ethical Stance Islamic: Compliant for investment purposes.
   • Target Audience: Investors seeking to grow their wealth in an ethically permissible manner.

3. Ethical Business Practices and Direct Transactions

   • Financial Model: Emphasizes direct trading, partnerships, and service provision, minimizing reliance on interest-based lending. For instance, instead of a loan, one might seek an equity partner or engage in an outright purchase.
   • Products: Focus on permissible trade, direct investment in businesses, ethical crowdfunding for permissible projects.
   • Revenue Streams: Profits from legitimate trade, dividends from ethical investments, service charges for permissible services.
   • Regulatory Compliance: Adherence to commercial laws and general ethical business conduct, with the added layer of individual or communal Sharia compliance.
   • Ethical Stance Islamic: Compliant, as it centers on direct, permissible transactions.
   • Target Audience: Businesses operating on a cash basis or through direct partnerships, avoiding conventional financial products.

In essence, Zento.app provides a convenient solution within the conventional framework.

Ethical alternatives, conversely, demand a conscious choice to operate outside that framework, prioritizing adherence to Islamic financial principles, even if it means a different approach to managing business finances. Share.octopus.energy Review

FAQ

What is Zento.app?

Zento.app is a digital platform that provides access to business accounts, prepaid Mastercard cards, currency exchange, and payment transfer services primarily through its partner, B4B Payments.

It aims to offer simplified financial management for entrepreneurs in Europe, particularly Denmark.

Is Zento.app Sharia-compliant?

No, Zento.app is not Sharia-compliant.

It operates within the conventional financial system through its partner B4B Payments, an Electronic Money Institution regulated by conventional authorities.

This system inherently involves interest riba, which is prohibited in Islamic finance.

What services does Zento.app offer?

Zento.app offers local DKK, EUR, and GBP business accounts, virtual and physical prepaid Mastercard cards, SWIFT, SEPA, and local payment transfers, and foreign exchange in 36 currencies.

It also integrates with accounting software like e-conomic and Kontolink.

Who is B4B Payments, Zento.app’s partner?

B4B Payments is a regulated financial institution authorized by the Financial Conduct Authority FCA in the UK and the Bank of Lithuania.

They are an Electronic Money Institution EMI that provides the underlying payment services accessed through the Zento.app platform.

Are there any upfront costs to use Zento.app’s “FREE” plan?

Yes, Zento.app’s “FREE” plan has a significant sign-up fee, which is 999 DKK / £115 / €135, depending on the currency. Bkool.com Review

It also incurs various transaction fees for incoming payments, currency exchange, and card loading.

What are the main ethical concerns with Zento.app for a Muslim user?

The main ethical concerns are its direct involvement in and facilitation of interest-based transactions riba and its operation within the conventional banking system, which does not adhere to Islamic financial principles. There is no Sharia compliance certification.

Can I use Zento.app for my business if I want to maintain Sharia compliance?

No, it is not recommended to use Zento.app if you intend to maintain strict Sharia compliance, as its services are fundamentally rooted in conventional finance that includes interest.

What are some Sharia-compliant alternatives to Zento.app for business accounts?

Sharia-compliant alternatives include dedicated Islamic banks e.g., Al Rayan Bank, Guidance Residential, Islamic microfinance institutions, and structuring your business finances to avoid interest-based products entirely.

How do Zento.app’s transaction fees compare across its plans?

The “FREE” plan has the highest transaction fees e.g., 1% for incoming DKK payments, 2.75% for currency exchange. The “FLEX” plan reduces these fees e.g., 0.2% incoming, 1% forex, and the “PRO” plan offers the lowest or waived transaction fees for higher monthly subscriptions and sign-up fees.

Does Zento.app offer physical cards?

Yes, Zento.app offers physical prepaid Mastercard cards, which are included in the FLEX and PRO plans, and available as an option in the FREE plan.

How long does it take to open an account with Zento.app?

The application review process typically takes 2-3 business days, and account activation usually takes an additional 1-2 business days once approved.

Is my money safe with Zento.app?

Zento.app states that client funds are kept separate under strict European regulations, overseen by national regulators, and held securely with financial institutions.

This is typical for Electronic Money Institutions EMIs.

What accounting software does Zento.app integrate with?

Zento.app advertises seamless integration with e-conomic and Kontolink for simplifying bookkeeping and tax payments. Nous.co Review

Can multiple team members manage finances through Zento.app?

Yes, Zento.app offers a multi-user feature that allows inviting team members to manage company finances or connect multiple companies under a single user account.

Does Zento.app support NemKonto accounts in Denmark?

Yes, Zento.app offers access through their platform to B4B Payments services, which provides local DKK accounts with NemKonto IBAN.

How can I cancel my Zento.app subscription or account?

To cancel, you should review their terms and conditions, then contact Zento.app’s customer support via email [email protected], live chat, or phone +45 89 87 57 89. It’s recommended to follow up with a formal written request and ensure all funds are transferred out before closure.

Does Zento.app have a traditional free trial that converts to a paid plan?

No, Zento.app primarily offers a “FREE” plan with no monthly fee but a significant sign-up fee and transaction-based charges, rather than a time-limited free trial that auto-converts.

What happens if I want to close my Zento.app “FREE” plan account?

You should follow the same cancellation steps as for a paid subscription: contact customer support, transfer any remaining funds, and obtain written confirmation of account closure to ensure no further engagement with the non-compliant service.

Does Zento.app offer customer support?

Yes, Zento.app states it offers customer support through live chat, email, and phone, promising “no queues” and efficient problem resolution.

What social media channels does Zento.app use?

Zento.app is present on Whatsapp, Telegram, Instagram, Facebook, and Youtube, and provides an email contact for inquiries.