Overview
iFAST Global Bank, at a glance.
iFAST Global Bank is a bank headquartered in the United Kingdom, regulated by Prudential Regulation Authority and Financial Conduct Authority. Business accounts cost £0–5 a month. Opening an account takes 3–5 days. Non-residents are accepted: owners and directors do not need to live in the country where the company is registered.
iFAST Global Bank Limited is a UK bank authorised by the PRA and regulated by the FCA and PRA (FRN 716167). Eligible deposits are protected by the FSCS up to £120,000.
Why businesses pick iFAST Global Bank
- Eight currencies under one account number
- Free Faster Payments, and free incoming CHAPS and SWIFT
- £5 a month, waived above a £10,000 average balance
- Accepts international companies
- No fee on debit card spending in foreign currencies
Watch out for
- CHAPS and SWIFT payments cost £25
- £100 onboarding fee unless eligible for digital onboarding
- For SMEs with under £7 million annual revenue
- Support by email on weekdays
Business fit
Will iFAST Global Bank 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 iFAST Global Bank's published rules
Needs review
iFAST Global Bank works with Startups and SMEs, but does not publish the countries it accepts companies from.
iFAST Global Bank 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 iFAST Global Bank publishes about the businesses it takes on.
Who iFAST Global Bank serves
- Startups and SMEs
- Import and export
- Financial institutions
- Professional services
Not supported
Industries and countries iFAST Global Bank does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use iFAST Global Bank?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
8 currencies
- EUR
- USD
- GBP
- JPY
- AED
- CNH
- HKD
- SGD
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
UK companies, International companies, UK sole traders, Non-bank financial institutions
Pricing
What does iFAST Global Bank 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
£100
Monthly fee
£5
SME Business Account
£5 per month
£100 setup · £160 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| Faster Payments (GBP) | Free | No charge |
| SWIFT / international | Free | No charge |
| Outgoing | ||
| Faster Payments (GBP) | Free | No charge |
| CHAPS (GBP) | £25 | Fixed fee |
| SWIFT / international | £25 | Fixed fee |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Physical card issue | Free | No charge · First card; £10 for each additional card |
| Card FX | Free | No charge |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is iFAST Global Bank a bank?
Yes. iFAST Global Bank Limited is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA (FRN 716167). Eligible deposits are protected by the FSCS up to £120,000.
How much does the iFAST SME Business Account cost?
£5 a month, waived when the previous month's average balance is over £10,000, plus a £100 onboarding fee unless the company is eligible for digital onboarding.
Which currencies can I hold?
GBP, EUR, USD, SGD, CNH, AED, HKD and JPY, under one account number.
Can international companies open an account?
Yes. iFAST accepts UK companies, international companies, UK sole traders and non-bank financial institutions.
Alternatives
How iFAST Global Bank compares.
If iFAST Global Bank is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 iFAST Global BankThis pageBank |  | Multi-currencyInternational companies |
 Allica BankBank | | CashbackEstablished SMEs |
| Starling BankBank | | Free accountDeposit protection |
 AirwallexE-money institution |   | Global accountsOnline businesses |
 Wise BusinessE-money institution |  | Low FX costsStandard businesses |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.