Manage intercompany flows across different currencies, banks and jurisdictions
Which currencies does iBanFirst offer?
iBanFirst currently offers over 30 currencies to open accounts, receive payments, hold funds and make payments. You can check the list of currencies available here.
What fees can I expect at iBanFirst? Are there any monthly costs?
At iBanFirst, we offer competitive and transparent foreign exchange rates and fees. Here you can find a complete overview of all our fees applied.
Unlike most corporate banks, iBanFirst does not charge any fees to open an account nor any monthly subscription fees.
iBanFirst earns a spread on every currency conversion, calculated as the difference between the market rate and the client rate. This spread is transparent and shown on the web platform or communicated over the phone.
What does the process of opening an account look like?
Opening an account with iBanFirst is a 100% paperless process.
How is iBanFirst regulated?
iBanFirst is regulated as a payment institution (as per the European directive PSD2) and has been licensed by the National Bank of Belgium since 2013 under registration number 0849.872.824.
iBanFirst is authorised to operate in 30 countries of the European Economic Area, as per the free provision of services European directive.
As a licensed payment institution, iBanFirst is authorised to:
PSD2 strictly regulates how payment institutions, such as iBanFirst, operate and manage client funds and payments.
Are my funds secure?
iBanFirst is regulated as a payment institution as per the European PSD2 directive, which strictly regulates how payment institutions, such as iBanFirst, operate and manage client funds and payments.
For instance, under the PSD2 directive, funds must be segregated from the payment institution's own funds and held at a custodian bank. Cash reserves must be held to guarantee the payment institution's solvency. Both measures guarantee that, in the unlikely event of iBanFirst’s insolvency, client funds would remain safe and secure and would be returned to the clients.
iBanFirst S.A. is duly authorised and regulated by the National Bank of Belgium (under CBE number 0849.872.824) as a payment institution. It is a direct member of the SWIFT network and is certified to make payments throughout the SEPA zone. As a payment institution, iBanFirst S.A. only offers hedging solutions (forward, flexible forward and dynamic forward) connected to underlying payment transactions. iBanFirst S.A. does not offer options or any other financial instruments for investment or speculative purposes.