Manage foreign exchange risks

Yes, you can use our range of forward payment contracts to lock in rates for future payments.

iBanFirst S.A. is duly authorised and regulated by the National Bank of Belgium (under company number 0849.872.824) as a payment institution. Our registered address is at Avenue Louise 350, 1050 Brussels, Belgium.

The products and services that iBanFirst S.A. offers are limited to unregulated spot FX transactions and deliverable forward contracts (forward, flexible forward and dynamic forward) excluded from MiFID and EMIR regulation, as they are intended to cover an underlying future payment for identifiable goods and services. iBanFirst S.A. does not offer options or any other financial instruments for investment or speculative purposes.

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.

With iBanFirst, you don’t have to deal with a chatbot or join a seemingly never-ending support ticket queue to solve a problem. Instead, you have a dedicated account manager to help you make the most of our tools, establish an FX strategy that works for your business and support you with any questions you may have.

A forward payment contract allows you to lock in today's exchange rate for a future transaction as a way to minimise currency risk.

With iBanFirst, you have three types of forward payment contracts to choose from:

• Fixed forward payment contracts lock in an exchange rate for a specific future date, with the full amount exchanged exactly on that date — no earlier, no later.
• Flexible forward payment contracts offer a guaranteed exchange rate that can be used over a predefined period rather than on a single date. The conditions (amount, rate, and timeframe) are set when the contract is established, but you can settle payments at any point within that window.
• Dynamic forward payment contracts offer a guaranteed floor rate while also letting you benefit from favourable market movements during the contract period.

With iBanFirst, the minimum contract size for fixed forward payment contracts is €5,000.

The minimum contract size for flexible forward payment contracts is €15,000.

Dynamic forward payment contracts work a little differently, so it's best to speak to your Account Manager to understand your specific risk management needs.