Receive client payments in their currency

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.

Yes, iBanFirst offers the possibility to open multiple accounts in 30+ currencies online.
You can convert money at the real-time exchange rate between these accounts with a low conversion fee set in advance. Additionally, iBanFirst offers a complete overview of the costs involved in exchanging any given currencies before completing a transaction.

Opening an account with iBanFirst is a 100% paperless process.

1. Fill out the account opening form to be contacted by an iBanFirst adviser.
2. Send us the documents identifying your company and its beneficial owners.
3. Our customer support team will set up your account so you can be up and running right away.
4. You will need to activate your iBanFirst account by making a first transfer from your main bank account.
5. Your account will be ready to use upon receipt of this activation transfer.

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.