iBanFirst holds a current Payment Institution License. This was first granted to us by the National Bank of Belgium in 2013. This licence does not allow iBanFirst to provide loans to its customers. Loaning is a service that remains a benefit of the banks. Since iBanFirst does not provide loans it does not use money of its customers to provide other services to clients. This means the funds of our clients are always available for them to recover.

This is possible, but only if you make currency exchange for the equivalent of at least 80,000 EUR per year.

Per European and Belgian law, we are obliged to segregate our clients funds. This means all clients’ funds are deposited on accounts that are separated from iBanFirst’s proprietary accounts. This is called account segregation and entails that the funds of our clients are held by our banking partner, a top-tier European bank, and that iBanFirst and/or its debtors cannot access these funds.

In the light of major risks of identity theft raised by national supervisory authorities such as the National Bank of Belgium and the Financial Intelligence Processing Unit, iBanFirst requires an initial transfer of SEPA funds emerging from a recognized credit institution account registered in the name of the customer. This first transaction will also be analysed in regards to the money-laundering regulations and the fight against financing of terrorism.

To help keep your account safe, we recommend that you use the following best practices:

  • Choose a reliable password that you do not use on any other site.
  • Use the "connection check".
  • Be suspicious about unusual links in emails or on webpages and always check that you are on ibanfirst.com before entering your login information.
  • Never provide your username and password to third-party applications, especially those that promise subscribers, money or certification.
  • Verify that your operating system, including your browser, is up-to-date with the latest upgrades and antivirus software.
  • If you think your account may have become compromised, contact your account manager immediately.

The iBanFirst account is a payment account. It works as a business current account. You can send and receive transfers in euro and foreign currencies. You can also purchase on the internet with our single-use virtual cards.

However, the iBanFirst account must always be in credit. On each transfer, transaction or payment, iBanFirst will check your balance before debiting your account.

Please note that the iBanFirst account is not a deposit account: funds which are credited to the account by our customers are understood to be there for the purpose of making payments.

Opening an account with iBanFirst as well as your existing arrangement gives you access to all the financial services we offer to our customers along with the most competitive rates on the market. These services are available through our carefully selected partners - the finest FinTech companies in their field, which you can now use, thanks to a unique account: your IBAN account with iBanFirst! Today, we can already provide you with virtual payment cards and international payment services, soon we plan to have available the physical debit card along with even more services such as factoring and financing.

iBanFirst is a payment institution approved by the National Bank of Belgium. This requires us to carefully get to know our customers well before giving them access to our services, to help ensure they are used solely for legitimate purposes. This is part of a wider fight against fraud and money-laundering. We must submit all the documents gathered as well as the processes put in place on our side to our regulator.

iBanFirst is a payment institution regulated by the European Union (with a European passport) and is controlled by the National Bank of Belgium. It has a rigorous compliance program in place with internal and external audits (first-tier). The company is well financed and supported by its main investor, Xavier Niel.

In the worst case, if iBanFirst were to go bankrupt, the impact would be zero on customers because their funds are held by our banking partner, a leading European bank. iBanFirst and / or its debtors can not in any case access these funds to repay any debts.

iBanFirst is operating as a payment establishment and not a bank. 
 
We offer payment accounts where you can manage your day to day financial operations (transactions, international transfers, virtual card payments, etc.).

Nonetheless, there are certain differences between your iBanFirst account and a traditional bank business account:
- Any iBanFirst account cannot be overdrawn
- iBanFirst doesn’t accept checks or cash

You can either use iBanFirst as the main account for your business or as a side account for your daily financial transactions and cost efficient international payments.

Yes, your iBanFirst account can be your main account as it features all the main services a business needs: a payment solution, direct debit and virtual credit cards. Nevertheless, please note that currently in order for us to activate your iBanFirst account we will ask you to make a first transfer from the business account you currently have. We are aware that this solution is not ideal, and are working hard to streamline this process.

To deactivate your account, please send an e-mail to your account manager stating that you want to close your account. The official closing of your account will then be effective within a few hours.

Yes, just dial +32 2808 0966 and an iBanFirst Account Executive will be happy to help you, Monday to Friday from 9am to 6pm.

Just fill in the contact form and we will get back to you as soon as possible. In order to open an account, we will require the following documentation:

  • Contract – including the shareholding and Ultimate Beneficial Owners (UBOs) / representative’s statements
  • ID proof of UBOs / représentatives
  • Proof of business registration
  • Company’s articles of association
  • Company’s shareholder’s register

Our compliance department may also request additional documents, such as registration certificates of the parent companies.

iBanFirst offers virtual cards, prepaid. You can generate as many cards as you want for your online purchases. Our service allows you to maintain total control over card payments in your business.

Unlike traditional cards, virtual cards can be used for online purchases only and are not physically present but electronically. Users can make payments over the Internet and credit their virtual credit card.

With iBanFirst you can order a prepaid virtual card to purchase anything you need online. We have got plans for 2017 and will soon be adding a physical Debit Card to our offering, with which you will be able to withdraw money from any cash point. However, we do not process cash deposits or cheques. iBanFirst aims to provide an online banking experience from start to finish.

Any company registered to its country-specific national register can apply to open an iBanFirst account.

However, please note that the automated online account opening feature is only available to companies that are registered in France or Belgium, which have a business account in other banks from which they can make the first payment required to activate their account.

The monthly subscription is deducted from your EUR iBanFirst account on the first calendar day of each month.

You will need the following documentation to open an account with iBanFirst:

  • Contract – including the shareholding and Ultimate Beneficial Owners (UBOs) / representative’s statements
  • ID proof of UBOs / représentatives
  • Proof of business registration
  • Company’s articles of association
  • Company’s shareholder’s register

Our compliance department may also request additional documents, such as registration certificates of the parent companies.

iBanFirst takes every possible precaution to guarantee a high level of protection for your personal data.

As a matter of course, we take all appropriate measures, both technical and organisational,  that are required to achieve this security goal, in accordance with the data protection law.

Please view our Privacy Policy here.

The cards are currently only available in the Euro currency. You must therefore have a Euro account with us containing sufficient funds for you to load the cards.

The card does not belong to the holder, but to the administrator that created the card. A card holder reference ensures the card is sent to the correct person by e-mail and enables you to identify and relate payments to the right people when checking your account statement.

All the card holders are on the "Users" page of the platform.

Once you have completed your profile with all the necessary information (telephone number, NAF code, date of birth, etc.), you can create as many virtual cards as you wish.

To create a card, you just have to indicate the value (up to a maximum of 20,000 Euros), the expiry date (minimum of 2 days, up to a maximum of one month) and select the card holder. If the holder does not appear on the list, you can add them by clicking on the "+" button next to the card holder field.

Next, click on "Create" and a confirmation screen will pop up. The card details will then be automatically sent to the card holder by e-mail, who will be able to access the information by inserting their telephone number (this must match the one which appears on their iBanFirst profile).

Watch the video here

The balance is transferred to the euro account at the expiry date of the card. No fees are retained.

Freezing a prepaid card is the same as cancelling it. You can therefore cancel the card if you think there might be a risk.

You can generate custom-made bank statements through the “Documents” tab, in the “bank statement section. By clicking on the “Create a bank statement” button, you will be able to select a start and end date corresponding to the period you wish to analyse or extract. The file can be generated under three different formats: CSV with semicolon; CSV with comma, and OFX. This format can be directly integrated to some accounting ERP systems, thus facilitating quick entries.

The expiry date of the card cannot be changed following its creation. You can, however, cancel the card by going to the MY CARDS section and cancelling the selected card.

The virtual iBanFirst card has a validity period of between 2 and 30 days. It's up to you to set the expiry date when creating the card. Once the card has been created, you can no longer change the expiry date.

No, an account executive does not have the rights to create a card for security reasons. The administrator of the iBanFirst account is entitled to create it.

The card does not belong to the cardholder, but to the administrator who created the card. The cardholder is an indicative data for e-mailing the card to the right person and to be able to identify in the lines of your account to which person you can associate payments.

The card is non-transferable and the authorisation to use it can be revoked at any time by going to the MY CARDS section and cancelling the selected card. In any case, the iBanFirst prepaid card remains the property of our partner Anytime.

To reset the password, go to the right menu "users" and click edit> reset password. We will then ask you for authentication to validate the change.

There is no summary of created cards or a separate summary of CB transactions. All transactions made with the cards are visible in your EURO account statement.

A merchant refund will not be accepted onto the prepaid card after it's expiry date. However, if an amount is refunded to the card before it's expiry, this amount will be credited directly back onto the card.

The remaining amount goes into the Euro account on the card's expiry date. There is no charge for this transfer. 

To make an online purchase, you must indicate the 16 digits on the front of the card, the name of the cardholder and the 3-digit visual cryptogram on the back of the card.

All companies located in the European Economic Area can benefit from the service.

The virtual card does not support the 3D secure system. It is therefore essential that you protect your card details.

This can sometimes happen when intermediary fees that are unaccounted for are applied to the transfer by either the receiving or the sending bank. At iBanFirst we always utilise the most economical payment routes.

We make every possible effort to ensure the fees are accounted for and covered, however on some occasions fees are applied which are completely outside of our control. In this instance, iBanFirst does not benefit in any way from the fee that is applied.

Any remaining funds from the card balance will be paid back into your Euro account.

In order to make an online purchase, you must input the 16 digits located on the front of the card, the name of the card holder and the 3-digit security code which is on the back of the card.

The service is available to all companies located within the European Economic Area.

No, the iBanFirst Prepaid Card is a virtual card that only works on the Internet.

The balance you put on the card is locked in your EUR account. For example, if you have €10,000 in your account and you create a  €5,000 card, that amount will be blocked until you use, cancel, or the card expires.

When we are unable to debit your iBanFirst Euro account (the card has expired, your card limit has been reached, etc.), we simply decline the transaction.

It is possible that we could also decline a transaction in the following circumstances:

•             You have frozen your card.

•             Your card has reached its authorised limit.

•             The merchant with which you carried out your transaction is suspected of fraud.

A transaction can also be declined without our knowledge, if the transaction has been carried out with a merchant that does not accept automatic authorisation cards or cards without the 3D secure system. This is the case with certain e-commerce sites.

The virtual card will allow you to generate an unlimited number of single-use virtual cards for online payments.

You can credit up to €20,000, providing you have enough funds on your EURO account. The virtual cards are valid from 48 hours to 30 days maximum. The amount that you will credit on the card will be blocked until the use, expiration or cancellation of the card. Of course, these three actions won’t generate any additional fees.

Important: subscriptions aren’t allowed to be charged to the iBanCard. If a payment is rejected, you will be charged a €20 fee.

With the virtual card, you can manage expenses without handling payments: you can generate a card under a manager’s name, with the exact amount requested, or generate a card for each department request (such as Office, IT, etc).

You cannot create more than €20,000 worth of cards at the same time.

No, the prepaid iBanFirst card is a virtual card which can only be used for Internet purchases.

You will find the transactions carried out in the Euro account, under the guise of "transactions". You can also head to the "My Cards" section and click on the card that was used. The transactions made with the card will then be visible to you on the pop-up window.

The card is only available in Euro for the moment. You will need to have a Euro iBanFirst account, with sufficient funds, to benefit from the cards.

To create a card holder profile, click on "Create a card" and click on the "+" button next to the card holder field. A new window will open with a request for you to enter the required information. Once all fields have been populated and you have confirmed the card holder details, the card will automatically be assigned to the nominated person.

Intermediary fees are deductions made by banks and other intermediaries involved in a payment transfer in addition to any fees charged by iBanFirst to process a payment on your behalf. You can choose whether to pay the intermediary fees entirely or to share them with the beneficiary of the payment.

The iBanFirst card is an automatic authorisation card. When you use an iBanFirst card, the shopkeeper's payment terminal contacts the MasterCard network in order to authorise the transaction.

If you pay in a currency other than the Euro, the exchange rates of the merchant are applied. This is generally €X.

Yes, one person can have as many cards as they require.

The prepaid card does not allow a refund by the merchant after the expiry date. If an amount is refunded on the card before the expiry, it will be automatically credited to the card.

The payment will be granted for the first one for which we receive the instructions of payment.

If you have forgotten your password, click here.

To cancel a transfer, go to the details of the operation (via the magnifying glass) and click on "Cancel". The transfer can be canceled free of charge if it has not already been validated by the iBanFirst middle office. After this step, you will be charged a cancellation fee.

No, for security reasons, an account manager does not have the authorisation to create a card.

The iBanFirst prepaid virtual card only authorises payments on Internet sites that accept cards without the 3D secure system.

There are no usage fees with our iBanFirst card! Creation or expiry of the card is free. The only charges levied are applied in the event of a declined payment (forced or fraudulent use of the card), for which we charge €20.

When you create a card, a line "virtual card" in the board "future operations" appears in the EURO account. But the balance continues to include the full amount of the card, as long as you have not used it. When you cancel the card, the € 2,000 are instantly released, but the available balance does not change.

Cookies are designed to enable an easier and more pleasant internet navigation. iBanFirst also adapts www.iBanFirst.com to its users in order to recognise them during subsequent visits. Data collected via the cookies are used totally anonymously, specifically for research purposes, to produce usage statistics, to improve the iBanFirst service.

What are cookies?

A cookie is a small text file which your computer’s browser saves when a website is visited.

Decline cookies

The visitor/user can configure their browsers to avoid the creation of cookies or for being informed when that occurs.

However, refusing cookies can make internet navigation difficult or even impossible.

Accept cookies

During a visit to the website www.iBanFirst.com, when the user clicks on the “Continue” link (without adjusting the cookies settings), he is deemed to have accepted the cookies. The user can later delete the cookies installed on his computer, his tablet or mobile phone. Cookies facilitate research by taking automatically into account a set of data – such as a choice of a language – starting from the second visit.

Click on the "Accounts" icon and select the account that interests you. You will then have the possibility to download your bank references.

It is a virtual card (there is no physical card), which is only for use on the Internet, for an amount that you define yourself, between €2 and €20,000. This card has an expiry date of between 2 and 30 days that you set yourself.

It is a practical solution if you want to allow one of your employees to make a one-time payment for the purchase of IT equipment, office supplies, furniture or even order a business lunch.

To be able to create a card, you must have the necessary funds in your iBanFirst account. The funds will be ringfenced until they are used by the card, the card is canceled, or it expires. If there are funds remaining on the card at time of expiry, these are returned to your account.

The balance you have loaded onto the card is ringfenced in your Euro account. For example, if you have €10,000 in your account and you create a card for €5,000, this amount will be "blocked off" until purchases up to the value of this amount have been made using the card, or until its cancellation or expiry.

The card does not come with any specific insurance or support.

Nevertheless, it bears the usual guarantees that VISA cards have in terms of protection from fraudulent Internet purchases.

The iBanFirst Virtual Card does not include any special insurance or support.

The iBanFirst prepaid card has a validity period between 2 and 30 days. It's up to you to set the expiration date when it's created. Once the map is created, you can not edit it.

When you create a card, you see a "virtual card" line in the Euro account in the "transactions outstanding" section. The balance remains with the card until it has certainly not been used. When you cancel the card, the €2,000 is instantly available, but the available balance does not change as a result.

Click on the "Beneficiary" icon at the top right, and you will find the option "Add a beneficiary"; click on it and fill in the beneficiary's bank details to add it to your account.

Watch the tutorial here.

For optimal use we recommend using Chrome or Firefox but the platform is also available on Safari and Internet Xplorer 10 and up.

If the bank account of a beneficiary that you are making the payment holds a currency (or currencies) that are different to the one which was used to send the payment, it may have been converted to one of these on receipt by their bank. To prevent this from happening, you need to ensure the account details given to you by your beneficiary holds the same currency as that which you are sending the payment to them in.

If you’ve booked the wrong currency pair, please contact your account manager immediately. You can find the details of your account manager on the “Contact” tab on the iBanFirst Platform.

iBanFirst provides all the services a company needs to make its international payments in a simple, fast and efficient way. Our tailor-made offer includes:

  • account management,
  • access to the real-time exchange rate of our trading room,
  • transparent pricing adapted to volumes,
  • assistance in opening your dedicated support account.

With iBanFirst, you can save up to 70% of your transaction costs. We offer a free financial analysis to find out what fees apply to your international operations. For a custom offer, contact your iBanFirst Account Manager.

We are connected to SEPA and SWIFT networks. As a result, iBanFirst can process transfers in euros and in 22 foreign currencies (AED, AUD, CAD, CHF, CNY, CZK, DKK, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, USD, ZAR).

All rates offered by iBanFirst are real-time. This means that we do not use a fixed rate. Our quotations are updated every 15 seconds. This means that if for example the market goes up during a short period, you can take full advantage of the upward trend.

In 48 hours maximum, depending on the time when the transfer was made or according to the country from / to which it has been executed.

To obtain the guarantee of a transfer in 24h, a cost of €6 can be applied.

Any business registered to its country-specific National Registry can apply to open an iBanFirst account.

In accordance with your international transaction volumes, an attractive and competitive bespoke tariff will be applied, following an analysis by one of our experts.

There are no annual charges for holding an account provided you complete at least €10,000 of transactions in a foreign currency.

 

Are you making more than €10,000/year of payments with exchange?

more than 10 000 / year

 

Are you making less than €10,000/year of payments with exchange?

Less than 10 000 per year

 

Account Related Charges

Acount-related charges

 

Foreign exchange-related charges

Foreign exchange-related charges

Charges for transfers issued

 

Domestic

Domestic transfers

 

International

International Transfers

 

Internal

Internal Transfers within iBanFirst

 

Domestic transfers

Domestic transfers are payments where the currency of the funds being transferred is the national currency of the recipient country. iBanFirst automatically adapts its payment engine to offer you access, wherever possible, to the domestic payment network of the country to which the funds are destined. This not only allows the fees applied to your payments to be reduced, but also guarantees that the full transfer amount arrives in the beneficiary’s account.

Domestic transaction fees

 

International transfers

International transfers are payments made between at least two countries that are not part of the EURO zone. iBanFirst uses the SWIFT payment network for the handling of international payments.

IInternational transactions fees

 

Internal transfers

Internal transfers are internal payments where the issuer and the beneficiary of funds both have an open account with iBanFirst. In this case, the funds are credited in real time and without additional costs to the beneficiary’s account.

Internal Transfers

 

What hedging instruments are available to me?

iBanFirst offers you two types of transaction: the ‘spot’ and the ‘forward’.

Risk management on forward transactions -  this module can be activated by the user as required.

Forward exchange positions present a market risk. For forward transactions occurring more than 7 days ahead, this risk must be hedged by collateral (a security deposit). The collateral is a percentage of the amount payable and is deducted from the total amount payable. This collateral must be present in your account prior to approval of your forward positions.

Transaction Type - Security Deposit

Just fill in the contact form and we will get back to you as soon as possible. In order to open an account, we will require the following documentation:

  • Contract – including the shareholding and Ultimate Beneficial Owners (UBOs) / representative’s statements
  • ID proof of UBOs / représentatives
  • Proof of business registration
  • Company’s articles of association
  • Company’s shareholder’s register

Our compliance department may also request additional documents, such as registration certificates of the parent companies.

iBanFirst holds a current Payment Institution License. This was first granted to us by the National Bank of Belgium in 2013. This licence does not allow iBanFirst to provide loans to its customers. Loaning is a service that remains a benefit of the banks. Since iBanFirst does not provide loans it does not use money of its customers to provide other services to clients. This means the funds of our clients are always available for them to recover.

This is possible, but only if you make currency exchange for the equivalent of at least 80,000 EUR per year.

Per European and Belgian law, we are obliged to segregate our clients funds. This means all clients’ funds are deposited on accounts that are separated from iBanFirst’s proprietary accounts. This is called account segregation and entails that the funds of our clients are held by our banking partner, a top-tier European bank, and that iBanFirst and/or its debtors cannot access these funds.

In the light of major risks of identity theft raised by national supervisory authorities such as the National Bank of Belgium and the Financial Intelligence Processing Unit, iBanFirst requires an initial transfer of SEPA funds emerging from a recognized credit institution account registered in the name of the customer. This first transaction will also be analysed in regards to the money-laundering regulations and the fight against financing of terrorism.

To help keep your account safe, we recommend that you use the following best practices:

  • Choose a reliable password that you do not use on any other site.
  • Use the "connection check".
  • Be suspicious about unusual links in emails or on webpages and always check that you are on ibanfirst.com before entering your login information.
  • Never provide your username and password to third-party applications, especially those that promise subscribers, money or certification.
  • Verify that your operating system, including your browser, is up-to-date with the latest upgrades and antivirus software.
  • If you think your account may have become compromised, contact your account manager immediately.

The iBanFirst account is a payment account. It works as a business current account. You can send and receive transfers in euro and foreign currencies. You can also purchase on the internet with our single-use virtual cards.

However, the iBanFirst account must always be in credit. On each transfer, transaction or payment, iBanFirst will check your balance before debiting your account.

Please note that the iBanFirst account is not a deposit account: funds which are credited to the account by our customers are understood to be there for the purpose of making payments.

Opening an account with iBanFirst as well as your existing arrangement gives you access to all the financial services we offer to our customers along with the most competitive rates on the market. These services are available through our carefully selected partners - the finest FinTech companies in their field, which you can now use, thanks to a unique account: your IBAN account with iBanFirst! Today, we can already provide you with virtual payment cards and international payment services, soon we plan to have available the physical debit card along with even more services such as factoring and financing.

iBanFirst is a payment institution approved by the National Bank of Belgium. This requires us to carefully get to know our customers well before giving them access to our services, to help ensure they are used solely for legitimate purposes. This is part of a wider fight against fraud and money-laundering. We must submit all the documents gathered as well as the processes put in place on our side to our regulator.

iBanFirst is a payment institution regulated by the European Union (with a European passport) and is controlled by the National Bank of Belgium. It has a rigorous compliance program in place with internal and external audits (first-tier). The company is well financed and supported by its main investor, Xavier Niel.

In the worst case, if iBanFirst were to go bankrupt, the impact would be zero on customers because their funds are held by our banking partner, a leading European bank. iBanFirst and / or its debtors can not in any case access these funds to repay any debts.

iBanFirst is operating as a payment establishment and not a bank. 
 
We offer payment accounts where you can manage your day to day financial operations (transactions, international transfers, virtual card payments, etc.).

Nonetheless, there are certain differences between your iBanFirst account and a traditional bank business account:
- Any iBanFirst account cannot be overdrawn
- iBanFirst doesn’t accept checks or cash

You can either use iBanFirst as the main account for your business or as a side account for your daily financial transactions and cost efficient international payments.

Yes, your iBanFirst account can be your main account as it features all the main services a business needs: a payment solution, direct debit and virtual credit cards. Nevertheless, please note that currently in order for us to activate your iBanFirst account we will ask you to make a first transfer from the business account you currently have. We are aware that this solution is not ideal, and are working hard to streamline this process.

To deactivate your account, please send an e-mail to your account manager stating that you want to close your account. The official closing of your account will then be effective within a few hours.

Yes, just dial +32 2808 0966 and an iBanFirst Account Executive will be happy to help you, Monday to Friday from 9am to 6pm.

Just fill in the contact form and we will get back to you as soon as possible. In order to open an account, we will require the following documentation:

  • Contract – including the shareholding and Ultimate Beneficial Owners (UBOs) / representative’s statements
  • ID proof of UBOs / représentatives
  • Proof of business registration
  • Company’s articles of association
  • Company’s shareholder’s register

Our compliance department may also request additional documents, such as registration certificates of the parent companies.

iBanFirst offers virtual cards, prepaid. You can generate as many cards as you want for your online purchases. Our service allows you to maintain total control over card payments in your business.

Unlike traditional cards, virtual cards can be used for online purchases only and are not physically present but electronically. Users can make payments over the Internet and credit their virtual credit card.

With iBanFirst you can order a prepaid virtual card to purchase anything you need online. We have got plans for 2017 and will soon be adding a physical Debit Card to our offering, with which you will be able to withdraw money from any cash point. However, we do not process cash deposits or cheques. iBanFirst aims to provide an online banking experience from start to finish.

Any company registered to its country-specific national register can apply to open an iBanFirst account.

However, please note that the automated online account opening feature is only available to companies that are registered in France or Belgium, which have a business account in other banks from which they can make the first payment required to activate their account.

The monthly subscription is deducted from your EUR iBanFirst account on the first calendar day of each month.

You will need the following documentation to open an account with iBanFirst:

  • Contract – including the shareholding and Ultimate Beneficial Owners (UBOs) / representative’s statements
  • ID proof of UBOs / représentatives
  • Proof of business registration
  • Company’s articles of association
  • Company’s shareholder’s register

Our compliance department may also request additional documents, such as registration certificates of the parent companies.

iBanFirst takes every possible precaution to guarantee a high level of protection for your personal data.

As a matter of course, we take all appropriate measures, both technical and organisational,  that are required to achieve this security goal, in accordance with the data protection law.

Please view our Privacy Policy here.

The cards are currently only available in the Euro currency. You must therefore have a Euro account with us containing sufficient funds for you to load the cards.

The card does not belong to the holder, but to the administrator that created the card. A card holder reference ensures the card is sent to the correct person by e-mail and enables you to identify and relate payments to the right people when checking your account statement.

All the card holders are on the "Users" page of the platform.

Once you have completed your profile with all the necessary information (telephone number, NAF code, date of birth, etc.), you can create as many virtual cards as you wish.

To create a card, you just have to indicate the value (up to a maximum of 20,000 Euros), the expiry date (minimum of 2 days, up to a maximum of one month) and select the card holder. If the holder does not appear on the list, you can add them by clicking on the "+" button next to the card holder field.

Next, click on "Create" and a confirmation screen will pop up. The card details will then be automatically sent to the card holder by e-mail, who will be able to access the information by inserting their telephone number (this must match the one which appears on their iBanFirst profile).

Watch the video here

The balance is transferred to the euro account at the expiry date of the card. No fees are retained.

Freezing a prepaid card is the same as cancelling it. You can therefore cancel the card if you think there might be a risk.

You can generate custom-made bank statements through the “Documents” tab, in the “bank statement section. By clicking on the “Create a bank statement” button, you will be able to select a start and end date corresponding to the period you wish to analyse or extract. The file can be generated under three different formats: CSV with semicolon; CSV with comma, and OFX. This format can be directly integrated to some accounting ERP systems, thus facilitating quick entries.

The expiry date of the card cannot be changed following its creation. You can, however, cancel the card by going to the MY CARDS section and cancelling the selected card.

The virtual iBanFirst card has a validity period of between 2 and 30 days. It's up to you to set the expiry date when creating the card. Once the card has been created, you can no longer change the expiry date.

No, an account executive does not have the rights to create a card for security reasons. The administrator of the iBanFirst account is entitled to create it.

The card does not belong to the cardholder, but to the administrator who created the card. The cardholder is an indicative data for e-mailing the card to the right person and to be able to identify in the lines of your account to which person you can associate payments.

The card is non-transferable and the authorisation to use it can be revoked at any time by going to the MY CARDS section and cancelling the selected card. In any case, the iBanFirst prepaid card remains the property of our partner Anytime.

To reset the password, go to the right menu "users" and click edit> reset password. We will then ask you for authentication to validate the change.

There is no summary of created cards or a separate summary of CB transactions. All transactions made with the cards are visible in your EURO account statement.

A merchant refund will not be accepted onto the prepaid card after it's expiry date. However, if an amount is refunded to the card before it's expiry, this amount will be credited directly back onto the card.

The remaining amount goes into the Euro account on the card's expiry date. There is no charge for this transfer. 

To make an online purchase, you must indicate the 16 digits on the front of the card, the name of the cardholder and the 3-digit visual cryptogram on the back of the card.

All companies located in the European Economic Area can benefit from the service.

The virtual card does not support the 3D secure system. It is therefore essential that you protect your card details.

This can sometimes happen when intermediary fees that are unaccounted for are applied to the transfer by either the receiving or the sending bank. At iBanFirst we always utilise the most economical payment routes.

We make every possible effort to ensure the fees are accounted for and covered, however on some occasions fees are applied which are completely outside of our control. In this instance, iBanFirst does not benefit in any way from the fee that is applied.

Any remaining funds from the card balance will be paid back into your Euro account.

In order to make an online purchase, you must input the 16 digits located on the front of the card, the name of the card holder and the 3-digit security code which is on the back of the card.

The service is available to all companies located within the European Economic Area.

No, the iBanFirst Prepaid Card is a virtual card that only works on the Internet.

The balance you put on the card is locked in your EUR account. For example, if you have €10,000 in your account and you create a  €5,000 card, that amount will be blocked until you use, cancel, or the card expires.

When we are unable to debit your iBanFirst Euro account (the card has expired, your card limit has been reached, etc.), we simply decline the transaction.

It is possible that we could also decline a transaction in the following circumstances:

•             You have frozen your card.

•             Your card has reached its authorised limit.

•             The merchant with which you carried out your transaction is suspected of fraud.

A transaction can also be declined without our knowledge, if the transaction has been carried out with a merchant that does not accept automatic authorisation cards or cards without the 3D secure system. This is the case with certain e-commerce sites.

The virtual card will allow you to generate an unlimited number of single-use virtual cards for online payments.

You can credit up to €20,000, providing you have enough funds on your EURO account. The virtual cards are valid from 48 hours to 30 days maximum. The amount that you will credit on the card will be blocked until the use, expiration or cancellation of the card. Of course, these three actions won’t generate any additional fees.

Important: subscriptions aren’t allowed to be charged to the iBanCard. If a payment is rejected, you will be charged a €20 fee.

With the virtual card, you can manage expenses without handling payments: you can generate a card under a manager’s name, with the exact amount requested, or generate a card for each department request (such as Office, IT, etc).

You cannot create more than €20,000 worth of cards at the same time.

No, the prepaid iBanFirst card is a virtual card which can only be used for Internet purchases.

You will find the transactions carried out in the Euro account, under the guise of "transactions". You can also head to the "My Cards" section and click on the card that was used. The transactions made with the card will then be visible to you on the pop-up window.

The card is only available in Euro for the moment. You will need to have a Euro iBanFirst account, with sufficient funds, to benefit from the cards.

To create a card holder profile, click on "Create a card" and click on the "+" button next to the card holder field. A new window will open with a request for you to enter the required information. Once all fields have been populated and you have confirmed the card holder details, the card will automatically be assigned to the nominated person.

Intermediary fees are deductions made by banks and other intermediaries involved in a payment transfer in addition to any fees charged by iBanFirst to process a payment on your behalf. You can choose whether to pay the intermediary fees entirely or to share them with the beneficiary of the payment.

The iBanFirst card is an automatic authorisation card. When you use an iBanFirst card, the shopkeeper's payment terminal contacts the MasterCard network in order to authorise the transaction.

If you pay in a currency other than the Euro, the exchange rates of the merchant are applied. This is generally €X.

Yes, one person can have as many cards as they require.

The prepaid card does not allow a refund by the merchant after the expiry date. If an amount is refunded on the card before the expiry, it will be automatically credited to the card.

The payment will be granted for the first one for which we receive the instructions of payment.

If you have forgotten your password, click here.

To cancel a transfer, go to the details of the operation (via the magnifying glass) and click on "Cancel". The transfer can be canceled free of charge if it has not already been validated by the iBanFirst middle office. After this step, you will be charged a cancellation fee.

No, for security reasons, an account manager does not have the authorisation to create a card.

The iBanFirst prepaid virtual card only authorises payments on Internet sites that accept cards without the 3D secure system.

There are no usage fees with our iBanFirst card! Creation or expiry of the card is free. The only charges levied are applied in the event of a declined payment (forced or fraudulent use of the card), for which we charge €20.

When you create a card, a line "virtual card" in the board "future operations" appears in the EURO account. But the balance continues to include the full amount of the card, as long as you have not used it. When you cancel the card, the € 2,000 are instantly released, but the available balance does not change.

Cookies are designed to enable an easier and more pleasant internet navigation. iBanFirst also adapts www.iBanFirst.com to its users in order to recognise them during subsequent visits. Data collected via the cookies are used totally anonymously, specifically for research purposes, to produce usage statistics, to improve the iBanFirst service.

What are cookies?

A cookie is a small text file which your computer’s browser saves when a website is visited.

Decline cookies

The visitor/user can configure their browsers to avoid the creation of cookies or for being informed when that occurs.

However, refusing cookies can make internet navigation difficult or even impossible.

Accept cookies

During a visit to the website www.iBanFirst.com, when the user clicks on the “Continue” link (without adjusting the cookies settings), he is deemed to have accepted the cookies. The user can later delete the cookies installed on his computer, his tablet or mobile phone. Cookies facilitate research by taking automatically into account a set of data – such as a choice of a language – starting from the second visit.

Click on the "Accounts" icon and select the account that interests you. You will then have the possibility to download your bank references.

It is a virtual card (there is no physical card), which is only for use on the Internet, for an amount that you define yourself, between €2 and €20,000. This card has an expiry date of between 2 and 30 days that you set yourself.

It is a practical solution if you want to allow one of your employees to make a one-time payment for the purchase of IT equipment, office supplies, furniture or even order a business lunch.

To be able to create a card, you must have the necessary funds in your iBanFirst account. The funds will be ringfenced until they are used by the card, the card is canceled, or it expires. If there are funds remaining on the card at time of expiry, these are returned to your account.

The balance you have loaded onto the card is ringfenced in your Euro account. For example, if you have €10,000 in your account and you create a card for €5,000, this amount will be "blocked off" until purchases up to the value of this amount have been made using the card, or until its cancellation or expiry.

The card does not come with any specific insurance or support.

Nevertheless, it bears the usual guarantees that VISA cards have in terms of protection from fraudulent Internet purchases.

The iBanFirst Virtual Card does not include any special insurance or support.

The iBanFirst prepaid card has a validity period between 2 and 30 days. It's up to you to set the expiration date when it's created. Once the map is created, you can not edit it.

When you create a card, you see a "virtual card" line in the Euro account in the "transactions outstanding" section. The balance remains with the card until it has certainly not been used. When you cancel the card, the €2,000 is instantly available, but the available balance does not change as a result.

Click on the "Beneficiary" icon at the top right, and you will find the option "Add a beneficiary"; click on it and fill in the beneficiary's bank details to add it to your account.

Watch the tutorial here.

For optimal use we recommend using Chrome or Firefox but the platform is also available on Safari and Internet Xplorer 10 and up.

If the bank account of a beneficiary that you are making the payment holds a currency (or currencies) that are different to the one which was used to send the payment, it may have been converted to one of these on receipt by their bank. To prevent this from happening, you need to ensure the account details given to you by your beneficiary holds the same currency as that which you are sending the payment to them in.

If you’ve booked the wrong currency pair, please contact your account manager immediately. You can find the details of your account manager on the “Contact” tab on the iBanFirst Platform.

iBanFirst provides all the services a company needs to make its international payments in a simple, fast and efficient way. Our tailor-made offer includes:

  • account management,
  • access to the real-time exchange rate of our trading room,
  • transparent pricing adapted to volumes,
  • assistance in opening your dedicated support account.

With iBanFirst, you can save up to 70% of your transaction costs. We offer a free financial analysis to find out what fees apply to your international operations. For a custom offer, contact your iBanFirst Account Manager.

We are connected to SEPA and SWIFT networks. As a result, iBanFirst can process transfers in euros and in 22 foreign currencies (AED, AUD, CAD, CHF, CNY, CZK, DKK, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, SEK, SGD, THB, USD, ZAR).

All rates offered by iBanFirst are real-time. This means that we do not use a fixed rate. Our quotations are updated every 15 seconds. This means that if for example the market goes up during a short period, you can take full advantage of the upward trend.

In 48 hours maximum, depending on the time when the transfer was made or according to the country from / to which it has been executed.

To obtain the guarantee of a transfer in 24h, a cost of €6 can be applied.

Any business registered to its country-specific National Registry can apply to open an iBanFirst account.

In accordance with your international transaction volumes, an attractive and competitive bespoke tariff will be applied, following an analysis by one of our experts.

There are no annual charges for holding an account provided you complete at least €10,000 of transactions in a foreign currency.

 

Are you making more than €10,000/year of payments with exchange?

more than 10 000 / year

 

Are you making less than €10,000/year of payments with exchange?

Less than 10 000 per year

 

Account Related Charges

Acount-related charges

 

Foreign exchange-related charges

Foreign exchange-related charges

Charges for transfers issued

 

Domestic

Domestic transfers

 

International

International Transfers

 

Internal

Internal Transfers within iBanFirst

 

Domestic transfers

Domestic transfers are payments where the currency of the funds being transferred is the national currency of the recipient country. iBanFirst automatically adapts its payment engine to offer you access, wherever possible, to the domestic payment network of the country to which the funds are destined. This not only allows the fees applied to your payments to be reduced, but also guarantees that the full transfer amount arrives in the beneficiary’s account.

Domestic transaction fees

 

International transfers

International transfers are payments made between at least two countries that are not part of the EURO zone. iBanFirst uses the SWIFT payment network for the handling of international payments.

IInternational transactions fees

 

Internal transfers

Internal transfers are internal payments where the issuer and the beneficiary of funds both have an open account with iBanFirst. In this case, the funds are credited in real time and without additional costs to the beneficiary’s account.

Internal Transfers

 

What hedging instruments are available to me?

iBanFirst offers you two types of transaction: the ‘spot’ and the ‘forward’.

Risk management on forward transactions -  this module can be activated by the user as required.

Forward exchange positions present a market risk. For forward transactions occurring more than 7 days ahead, this risk must be hedged by collateral (a security deposit). The collateral is a percentage of the amount payable and is deducted from the total amount payable. This collateral must be present in your account prior to approval of your forward positions.

Transaction Type - Security Deposit

Just fill in the contact form and we will get back to you as soon as possible. In order to open an account, we will require the following documentation:

  • Contract – including the shareholding and Ultimate Beneficial Owners (UBOs) / representative’s statements
  • ID proof of UBOs / représentatives
  • Proof of business registration
  • Company’s articles of association
  • Company’s shareholder’s register

Our compliance department may also request additional documents, such as registration certificates of the parent companies.