The fees shown below, in sections A to F inclusive, apply to all clients with an iBanFirst Limited Account. To be considered for an account, companies or individuals must make a minimum of £50K equivalent of foreign exchange payments (transactions) per year using the account.
Opening fees: Free
Maintenance fees: Free
Free
Creation of a beneficiary for payment / transfer: Free
Free
Overdraft facility
Not available
Online account statements
Free
Account closure fees
Free
Each client will have a bespoke FX price margin applied to their transactions that will take into consideration a variety of factors unique to their requirement. These include, but are not limited to, expected FX flow over 12 months, quantity of payments monthly, number of existing FX partners, product range utilised, and service level required.
In respect to trading services provided, please see below for further detail of fees.
Access to market information for all 23 currencies (quotes, charts, history, trends)
Free
Online real-time exchange rates before validation
Free
Currency exchange related fees
Free for currency amounts above the threshold, as per Appendix B
Transfer between two iBanFirst accounts
Free
Receive transfers from third party accounts
Free
Receive SDD Core (see definition in Appendix D)
Free
Crediting iBanFirst account with a bank card
Not available
Crediting iBanFirst account by cheque
Not available
Use of platform
Free
Setting user rights and limitations
Free
Change of address
Free
Access to trading room
Free
Place order over phone
Free
Access to account(s) history
Free
Online detailed PDF report of all payments
Free
Type of transaction
Security deposit*
Spot
0.00%
Forward < 7 days
0.00%
Forward > 7 days ≤ 1 month
3.00%
Forward > 1 month ≤ 6 months
5.00%
Forward > 6 months ≤ 2 years
10.00%
*Must be credited to your iBanFirst Limited Account
International transfers
Zone
GBP
Transfer in EUR (guaranteed amount)
SEPA
Free
International transfers
Zone
GBP
Transfer in any currency (SHARE)*
World
Free
PSD transfer (SHARE)*
PSD zone in PSDcurrency
Free
Transfer in any currency (OUR)
World
£10*
Internal transfers within iBanFirst
Transfer of any currencies (guaranteed amount)
Free
* Dependent on number of trades and total trade volume.
Special cases – specific requirements around payments operations
Return of funds
Free
Cancellation
Varies*
Modification
Free
Off-platform order entry request
Free
Copy of bank transfer message (SWIFT)
Free
Financial analysis on international fees
Free
* Fees on these operations will vary depending upon the size and trading conditions when the operation is requested.
Amendments
Except as otherwise required by law, iBanFirst reserves the right at any time to change the following:
Changes are applied on the next due date or, in the absence of a due date, to the next available date after the new rates or fees come into force.
The changes are communicated to clients by email or via the iBanFirst Limited platform, with a minimum notice of one month. The client is considered to have accepted the change if they continue to use the service, unless they have not already first communicated in writing to iBanFirst to refuse the service offered to them within thirty calendar days after the notice has been sent to them.
The applicable conditions can be found on our website:
https://new ibanfirst UK website.com
Please Note: all iBanFirst Limited terms and conditions may be subject to change if required by law and /or regulation.
iBanFirst Limited is a payment services provider, authorized by the Financial Conduct Authority.
Please click on the link below to view available currencies:
https://support.ibanfirst.com/en/articles/23263-available-currencies
+44 (0) 203 409 5400 |
iBanFirst Limited is registered in England and Wales under Company No. 6260585 registered address: 6th floor, Dashwood House, 69 Old Broad St, London EC2M 1QS. iBanFirst Limited is authorised by the Financial Conduct Authority for the provision of payment services under the Payment Services Regulations 2017 (Reference number: 504494) and supervised by the Financial Conduct Authority under the Money Laundering Regulations 2017. The products and services that iBanFirst Limited offers are limited to unregulated spot FX transactions and deliverable Forward contracts excluded from MiFID or EMIR regulation (on the premise that their purpose is that of a future payment and treated as spot FX).