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Easily transfer funds between subsidiaries
Manage intercompany flows across different currencies, banks and jurisdictions
Open currency accounts in minutes
Without an experienced partner, transfers and foreign exchange transactions can result in delays in payment or reconciliation. With iBanFirst, you can open nominative currency accounts, with individual IBANs guaranteeing transaction security and quality.
Manage FX risk
FX market volatility poses a threat for businesses. Risk hedging solutions are not readily available and are often reserved for international banks' currency trading desks. iBanFirst offers flexible currency hedging solutions to all clients, accessible through a user-friendly platform.
Gain competitive, transparent rates
Many international payments generate excessive fees and foreign exchange commissions, negatively impacting your profit margins. iBanFirst lets you regain control of your international transactions, with instant multicurrency payments, competitive rates and transparent pricing, all secured with the click of a button.
A partner you can trust
Secure and reliable above all
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Use our iBanCheckerFrequently asked questions
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.
- Fill out the account opening form to be contacted by an iBanFirst adviser.
- Send us the documents identifying your company and its beneficial owners.
- Our customer support team will set up your account so you can be up and running right away.
- You will need to activate your iBanFirst account by making a first transfer from your main bank account.
- Your account will be ready to use upon receipt of this activation transfer.
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:
- Manage accounts
- Receive and execute payments
- Execute currency conversions linked to payments
- Set up foreign currency risk hedges linked to payments
- Grant loans linked to payments
- Connect to bank accounts (AISP)
- Initiate payments from bank accounts (PISP)
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.
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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.