Send and receive payments in any currency

iBanFirst offers a comprehensive range of payment speeds to allow companies to choose what best fits their needs.

Payment speeds can be selected when creating a payment. Available payment speeds depend on the beneficiary account, bank, and country.

Payment speeds range from Instant to Standard:

• Instant – payments between iBanFirst accounts are instantaneous (and free of charge!)
• RTGS – payments with the RTGS (Real-Time Gross Settlement) speed option are received by the beneficiary's bank in as little as one hour during business hours. Please note that depending on the beneficiary’s bank, payments may then take a little bit longer to be actually credited to the account.
• Express – payments with the Express speed option are usually credited to the beneficiary's bank account within 24 hours.
• Standard – payments with the Standard speed option are usually credited to the beneficiary's bank account within two to three business days.

Please note that payment speeds are not guaranteed and that actual payment speeds might vary depending on factors such as regulatory and compliance checks, payment cut-off times, as well as intermediary banks involved in the process.

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.

Although the iBanFirst payment solution has been optimised for global currency transactions, you can also use the platform to make non-converting currency transactions. However, if your business is only dealing with same-currency transactions, then iBanFirst might not be the best payment solution for your needs.

No, iBanFirst offers dual authentication with username, password and a time-based code to carry out sensitive operations on the platform. Additionally, iBanFirst offers multi-signature accounts and payments. Users can choose to set this option up to execute payments that require multiple signatures.