Overview
iBanFirst, at a glance.
iBanFirst is a payment institution headquartered in Belgium, regulated by National Bank of Belgium, FCA. The business account has no monthly fee. Opening an account takes 3–5 days.
Client funds are held separately from the company's own funds with custodian banks. This is safeguarding, not deposit insurance.
Why businesses pick iBanFirst
- Free to open, with no monthly fee
- IBANs in your company's name, with local account details in nine European countries
- Receive in 25 currencies and pay out in 136
- A dedicated account manager, with support in nine languages
- Trustpilot score of 4.8 from more than 1,300 reviews
Watch out for
- The exchange margin is agreed when the account is opened and is not published
- No cards
- The first transfer must come from the company's own bank account in the EEA or an equivalent country
- Local German, Dutch and Luxembourg IBANs are only for companies registered there
Business fit
Will iBanFirst accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on iBanFirst's published rules
Needs review
iBanFirst works with SMEs and SMBs operating across borders, but does not publish the countries it accepts companies from.
iBanFirst does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What iBanFirst publishes about the businesses it takes on.
Who iBanFirst serves
- Import and export
- Startups and SMEs
- Executives and finance teams
All 5 industries on iBanFirst's accepted list
- SMEs and SMBs operating across borders
- International trade
- Import/export
- Cross-border suppliers and payroll
- Finance teams managing FX risk
Not supported
Industries and countries iBanFirst does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use iBanFirst?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
25 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- AED
- CNY
- CZK
- DKK
- HKD
- HUF
- ILS
- MXN
- NOK
- NZD
- PLN
- RON
- SAR
- SEK
- SGD
- THB
- TRY
- ZAR
Payments out in 136 currencies.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Companies
Pricing
What does iBanFirst cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
Free
Business account
€0 per month
€0 setup · €0 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| ACH / local USD | 0.3% | Percentage of the amount · On the local USD collection account |
| Outgoing | ||
| SWIFT / international | €5 | Fixed fee · With shared charges; €25 when you pay all charges |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Virtual card issue | Not offered | Not available |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Application
Apply online with the company's details.
- 2
Documents
Provide the company registry documents and bank details.
- 3
Activation transfer
Send a first transfer from the company's own bank account.
- 4
Account live
Opening usually takes three to five days, or one day for simple structures.
Documents you need
- Signed contract
- Company registry extract
- Dated/signed ownership structure showing UBOs
- Main company bank-account details
- Valid ID for UBOs and platform users
FAQ
Your questions, answered.
Is iBanFirst a bank?
No. iBanFirst S.A. is a payment institution authorised by the National Bank of Belgium, and iBanFirst Limited is an e-money institution authorised by the UK FCA. Client funds are safeguarded, not covered by deposit insurance.
How much does iBanFirst cost?
The account is free to open and has no monthly fee. A SWIFT payment in a currency other than euro costs €5 with shared charges. iBanFirst earns on currency exchange, at a margin agreed when the account is opened.
How long does it take to open an iBanFirst account?
Usually three to five days, and as quick as one day for a simple company with complete documents.
Which currencies does iBanFirst support?
You can receive and hold 25 currencies and pay out in 136.
Does iBanFirst offer cards?
No. iBanFirst does not offer cards.
Alternatives
How iBanFirst compares.
If iBanFirst is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 iBanFirstThis pagePayment institution |   | FX specialistFree account |
 EburyE-money institution | | FX and hedgingInternational trade |
 AmnisPayment institution |  | FX specialistExpense cards |
 Wise BusinessE-money institution | | Low FX costsStandard businesses |
 OFXE-money institution |   | 34 currenciesFX specialist |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.