We are licenced and regulated to serve companies as a payment services institution (provider), so that we can provide banking as a service.

We offer payment accounts for you quickly and securely to manage your day-to-day foreign exchange payments, currency conversions and transfers. You can either use iBanFirst as the primary account for your business or as an additional account, especially for your daily foreign exchange payments, conversions and transfers.

We are not a bank, which has a different licence to operate. Three ways in which we are different from banks are:

  • Unlike traditional bank accounts, an iBanFirst account cannot be overdrawn (no overdraft facility)
  • We do not provide loans / credit
  • We do not accept cheques or cash.

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

  • Client application form
  • ID(s) of the signatory/signatories of the contract. Please note that the signatory/signatories must be able to represent the company, otherwise we require a delegation of power and the ID(s) of the individual(s) allowed, along with ID(s) of the users of the account
  • ID(s) of any Ultimate Beneficiary Owner owning more than 25% of the company
  • Proof of incorporation of the company and the company owning more than 25% of this company or any parent company
  • Articles of association of the company and the company owning more than 25% of this company or any parent company
  • Document signed by a legal representative indicating the shareholding of the company and detailing all the companies and individuals owning more than 25% of any entity in the organigram (if not mentioned in the company’s Articles of Association).

On occasion and only where relevant, our Compliance Department may also require additional documents, such as registration certificates of any parent companies.

In compliance with European and Belgian laws, we separate our company accounts from our clients’ accounts. As a result, all our clients' funds are deposited into separate accounts from iBanFirst's (this is also known as the principle of segregation of accounts). Clients' funds are held by our banking partner, a leading European bank, and it is impossible for iBanFirst and its partners to access them.

Yes, your iBanFirst account can be your main account as it features all the primary services a business needs: a payment solution, direct debit and virtual credit cards. However, please note that to activate your iBanFirst account, you first need to make an initial transfer from your current business account with a . (We are aware this solution may not be ideal for some and are working hard to streamline this process.)

iBanFirst makes every effort to ensure a high level of protection of your personal data.

In compliance with the Data Protection Act, we take all appropriate technical and organizational measures to achieve this security objective.

Please view our Privacy Policy here.

Identity theft and cybercrime are global issues impacting every country and all citizens and companies. National supervisory authorities, including the National Bank of Belgium and the Financial Intelligence Processing Unit, have raised these issues and best practice requires all financial providers to be rigorous and secure on behalf of their clients and in their processes.

Therefore, at iBanFirst we require an initial transfer from you, sent from your business account with a recognised financial provider, registered under your company’s name.

This first transaction will be analysed by our financial security experts, in compliance with the EU’s anti-money-laundering regulations and as part of the global fight against the financing of terrorism and other illegal financial activities.

To terminate your account, please send an email to your Account Manager stating that you want to close your account. The official closing of your account will take place a few hours after your communication has been read, during working hours.

Our payment institution licence, granted by the National Bank of Belgium in 2013, does not allow us to provide loans to clients. Providing loans is a service of banks. Unlike banks, however - since we do not offer loans - we do not use our clients’ funds to provide other services to them. This means our clients’ funds are always 100% secure and available only to them.

We strongly recommend you apply these best practices:

  • Create and maintain a strong, secure password. Do not use a password you have on any other website. For a brief guide on how to create and maintain a password, please click here
  • 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 give your username or password to others, including 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, immediately contact your Account Manager.

Yes, just dial +32 2808 0966 and an iBanFirst Account Manager will be happy to help you, Monday to Friday from 9:00 to 17.00 CET. The office hours for Dealers are 08:00 to 20:00 CET.

No, sorry, we do not provide accounts for individuals. Our service is for companies only and our platform and benefits have been purpose-built for them.

The iBanFirst account is a foreign exchange currency conversions, payments and transfers account designed solely for companies. It functions as your dedicated account with us for all your currency conversions and foreign exchange transactions. You can send and receive payments in 23 currencies. You can also make purchases on the internet with our single-use virtual payment cards.

Your iBanFirst account must always be in credit. Before each transfer, conversion or payment you make, our financial software instantly checks your balance before debiting your account.

Please note that your account with us is not a deposit account. The funds you credit to your account must always be sufficient to cover the payments you make using your account.

If you fill in our contact form, we will get back to you within two working hours. To open an account, we require the following official documentation from you:

  • Client application form
  • ID(s) of the signatory/signatories of the contract. Please note that the signatory/signatories must be able to represent the company, otherwise we require a delegation of power and the ID(s) of the individual(s) allowed, along with ID(s) of the users of the account
  • ID(s) of any Ultimate Beneficiary Owner owning more than 25% of the company
  • Proof of incorporation of the company and the company owning more than 25% of this company or any parent company
  • Articles of association of the company and the company owning more than 25% of this company or any parent company
  • Document signed by a legal representative indicating the shareholding of the company and detailing all the companies and individuals owning more than 25% of any entity in the organigram (if not mentioned in the company’s Articles of Association).

On occasion and only where relevant, our Compliance Department may also require additional documents, such as registration certificates of any parent companies.

Opening an account with iBanFirst alongside your existing banking arrangement gives you access to all the financial services we offer to our clients, as well as the most competitive foreign exchange (FX) rates on the market.

Our services are supported by our carefully selected business partners, which we are confident are among the best finance and financial technology (FinTech) companies available.

With an iBanFirst Account, you instantly have your own IBAN account. Today, we provide you with virtual payment cards and international payment services.

iBanFirst offers prepaid virtual cards. 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 only for online purchases and are not physical cards – they are electronic. Users can make payments over the internet and credit their virtual card.

iBanFirst is a payment institution licenced and regulated by the National Bank of Belgium. We are legally required to know our clients (especially to ensure anti-money laundering), before granting them access to our services. We must also be able to prove our process is compliant with the regulations, and so the documents we require from you are part of this process.

With iBanFirst, you can order a prepaid virtual card to purchase anything you need online. In future, we will offer our clients a physical debit card. With that, you will be able to withdraw money from any cash point machine (ATM). However, please note that we do not process cash deposits or cheques. iBanFirst is a 100% online banking experience from start to finish, to deliver banking as a service of excellence.

iBanFirst is a payment institution compliant with the European Union’s regulations (and because of PSD2, art 28, we have the freedom of establishment principle so we can “passport” our agreement within EU Member States). We are licenced by the National Bank of Belgium, which has a rigorous compliance programme in place with first-tier internal and external audits. The company is well-financed and supported by its main investor, Xavier Niel.

In the worst case, if iBanFirst were to go bankrupt, clients would experience zero impact, because their funds are held separately with our banking partner, a leading European bank. It is impossible for iBanFirst and its partners to access clients’ funds.
 

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

However, please note that companies must have corporate accounts with other banks from which they can make the first payment required to activate their accounts.

The payment will be authorised for the first one that is received by our system, according to the payment’s instructions.

Cookies are designed to help visitors browsing our website have an easy and pleasant experience. iBanFirst also adapts www.iBanFirst.com to its users to recognise them during subsequent visits. Data collected via the cookies are only used anonymously, specifically for research purposes, to produce usage statistics, and to improve the iBanFirst service.

What are cookies?

A cookie is a small text file that 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 may make website 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), they are deemed to have accepted the cookies. The user can later delete the cookies installed on their computer, tablet or smartphone. Cookies facilitate iBanFirst research by taking automatically into account a set of data – such as a choice of a language – starting from a user’s second visit.

Click on the "Beneficiary" icon at the top right of the screen, and you will find the option "Add a beneficiary". Click on it and complete the beneficiary's bank details to add it to your account. Watch the tutorial here.

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 for 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 also be directly integrated with some accounting ERP systems, to help ensure quick entries. 

There is no summary. All transactions made with the cards are visible in your Euro account statement.

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

You will find the transactions itemised in your Euro account, under the menu heading "Transactions". You can also go to the "My Cards" section and click on the card used. The transactions made with the card will then be visible to you on the pop-up window. (Note: if it is not visible, be sure to check you have disabled on your browser the use of Pop Up Blocker software when viewing our platform.)

If you have forgotten your password, please click here.

Click on the "Accounts" icon and select the account you need to access. You will then have the option to download your bank details.

For optimal use we recommend using Chrome or Firefox, but the platform is also available on Safari and Internet Explorer 10 (and its later versions).

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 relevant card.

If an amount is refunded to the card before its expiry, this amount will be credited directly back to the card. However, a merchant refund will not be accepted onto the virtual payment card after the card’s expiry date.

All companies located in the European Economic Area.

The card is only available in Euro. You will need to have a Euro iBanFirst Business Current account, with sufficient funds, to use the cards.

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

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

It is also a solution you may wish to use for one of your employees to make a one-time payment for the purchase of - as examples, IT equipment, office supplies, furniture or even to order a business lunch.

To create a card, you must have the necessary funds in your iBanFirst Business Account. The funds will be ringfenced (protected) until they are used by the card, the card is cancelled, or it expires. If there are funds remaining on the card at the time of the card’s expiry date, these funds are returned to your account.

The card is only available in the Euro currency. You must therefore have a Euro account with us that has sufficient funds for you to credit to the card.

The iBanFirst virtual payment card has a valid period of use 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.

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

No, the iBanFirst virtual payment only works on the internet for purchases on websites.

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 completed and you have confirmed the card holder details, the card will be automatically assigned to the nominated person.

No, for the sake of clients’ security, an account manager does not have the authorisation to create a card for clients.

The balance you have loaded to the card is ringfenced (protected) 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 belong to the card holder, but to the administrator that created the card. A card holder reference ensures the card is sent to the correct person by email and enables you to identify and check payments when viewing your account statement.

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

The balance you credit on your card is locked in your Euro 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 it, cancel it, or the card expires.

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 payment authorisation card. When you use an iBanFirst card, the seller's payment terminal contacts the MasterCard network to authorise the transaction.

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

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

However, the card does have the usual guarantees of other VISA cards, in terms of protection from fraudulent purchases on the internet.

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

No. This is to protect our clients’ security, so an iBanFirst account manager does not have the right to create a card for clients. Only the administrator of the iBanFirst Business account is entitled to create a card.

All companies located in the European Economic Area.

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

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

  • You have frozen your card
  • Your card has reached its authorised limit
  • The merchant for a transaction is suspected of fraud.

A transaction might 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.

If you pay in a currency other than the Euro, the exchange rates of the merchant are applied. 

The iBanFirst virtual card does not include any insurance or support.

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 want. To create a card, you just have to indicate the value (up to a maximum of €20,000), 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 (if it does not, be sure to check you have disabled on your browser the use of Pop Up Blocker software when viewing our platform).

The card details will then be automatically sent to the card holder by email, who will be able to access the information by providing their telephone number (this must match the one that appears on their iBanFirst profile).

Watch the video here

The card does not belong to the card holder, but to the administrator that created the card. A card holder reference ensures the card is sent to the correct person by email and enables you to identify and check payments when viewing your account statement.

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

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

You can credit up to €20,000, provided you have enough funds on your Euro account. The virtual cards are valid from 2 days to 30 days maximum. The amount that you credit on a card will be blocked until the card’s use, expiration or cancellation: and these three actions will not generate any additional fees from us.

Important: subscriptions aren’t allowed to be charged to the virtual payment card. 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.).

Yes, one account holder can have as many cards as required.

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

The iBanFirst virtual payment 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 you have set the date, you cannot change it.

The balance is transferred to your Euro account at the expiry date of the card. No fees are applied for this process.

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. The iBanFirst virtual payment card remains the property of Anytime, our business partner.

Sometimes this happens when intermediary fees that are unaccounted for are applied to the transfer by the receiving bank or sending bank. At iBanFirst we always use the most cost-efficient payment routes.

We make every possible effort to ensure the fees are accounted for and covered. However, on some occasions fees are applied that are outside of our control. On such occasions, iBanFirst does not benefit in any way from the fee that is applied.

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

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 is automatically credited to the card.

When you create a card, "virtual card" appears in the screen "future operations" of your Euro account. However, if you have not used the balance, it continues to be included in the card. When you cancel the card, the €2,000 is instantly made available, but the available balance does not change.

When you create a card, you see a "virtual card" appear in the Euro account in the "Transactions outstanding" section. The balance remains on the card for use. When you cancel the card, the €2,000 is instantly available, but the available balance does not change as a result.

Freezing the virtual payment card is the same as cancelling it. You can cancel a card when you need to.

To reset the password, go to the "Users" on the menu, and click “edit” to reset your password. We will then ask you for authentication to validate the change.

Any remaining funds from the card balance will be credited to your Euro account.

No, the iBanFirst virtual payment card is can only be used on the internet for purchases on websites.

If the beneficiary’s bank account you made the payment to holds a currency (or currencies) different to the one used to send your payment, it may have been converted to one of the currencies chosen by the beneficiary. To prevent this from happening, you need to ensure the account details given to you by your beneficiary has the same currency as the one you select for payment to them.

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

You can fill in the contact form and we will get back to you as soon as possible. Or you can download the client application form. The client form and all its requirements must be fully completed as part of your application process.

In brief, we require the following official documentation:

  • Client application form
  • ID(s) of the signatory / signatories of the contract. Please note that the signature / signatories must be able to represent the company, otherwise we require a delegation of power and the ID(s) of the individual(s) allowed, along with the ID(s) of the users of the account
  • ID(s) of any Ultimate Beneficiary Owner(s), if such Owners control more than 25% of the company
  • Proof of company incorporation, and proof of a company owning more than 25% of this company or any parent company
  • Articles of association of the company, and proof of a company owning more than 25% of this company or any parent company
  • Client application form must be signed and dated by a legal representative of the company, and detail all the companies and individuals owning more than 25% of any entity in the company’s organigram (organisational chart / company structure)
  • Your company’s bank details are required. Your first transfer to us must be sent from the same bank as the details you send us. The bank must be a credit institution within the European Economic Area, an equivalent jurisdiction, or the country of incorporation of your company.

Please Note

  • For more information about these requirements, please click here.
  • Our Compliance Department may also request additional documents.

iBanFirst provides all the services a company needs to make its international payments in a simple, fast and efficient way. All accounts include:

  • Account management
  • Access to real-time exchange rates from our trading room
  • Pricing adapted to volume
  • Help to transfer your current foreign exchange transactions to us
  • Dedicated support.

With iBanFirst, you can save up to 70% of your foreign exchange transaction costs. We offer a free financial analysis to find out what fees apply to your international payments and transfers with your existing provider, and can offer you a personalised quote based on your transaction volumes. To find out more, please contact us.

We are a member of SWIFT and are SEPA homologated. 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, unlike banks, we do not use a fixed rate. Our quotations are updated every 10 seconds. (This means, for example, that if the market goes up during a short period, you can take full advantage of the upward trend.)

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

Note: To guarantee a transfer in 24h, a cost of €6 is charged.

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

There are no annual fees to open and maintain an account with us, provided you use it to complete per year a minimum €100K of foreign exchange transactions (whether currency conversions, or conversions with payments at the same time).

For a comprehensive view of our standard fees and charges, please click here

Tailored quote on fees

We can offer you an attractive, competitive and tailored quote for fees, based on a free analysis by one of our experts, of:

  • your current foreign exchange transaction volumes.

This analysis will also help us to calculate for you the fees/charges your current banking provider applies to your existing foreign transactions.

To discuss your company requirements and for us to provide a personal quote, please contact one of our iBanFirst Business Account Managers, by filling in the form here.

We are licenced and regulated to serve companies as a payment services institution (provider), so that we can provide banking as a service.

We offer payment accounts for you quickly and securely to manage your day-to-day foreign exchange payments, currency conversions and transfers. You can either use iBanFirst as the primary account for your business or as an additional account, especially for your daily foreign exchange payments, conversions and transfers.

We are not a bank, which has a different licence to operate. Three ways in which we are different from banks are:

  • Unlike traditional bank accounts, an iBanFirst account cannot be overdrawn (no overdraft facility)
  • We do not provide loans / credit
  • We do not accept cheques or cash.

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

  • Client application form
  • ID(s) of the signatory/signatories of the contract. Please note that the signatory/signatories must be able to represent the company, otherwise we require a delegation of power and the ID(s) of the individual(s) allowed, along with ID(s) of the users of the account
  • ID(s) of any Ultimate Beneficiary Owner owning more than 25% of the company
  • Proof of incorporation of the company and the company owning more than 25% of this company or any parent company
  • Articles of association of the company and the company owning more than 25% of this company or any parent company
  • Document signed by a legal representative indicating the shareholding of the company and detailing all the companies and individuals owning more than 25% of any entity in the organigram (if not mentioned in the company’s Articles of Association).

On occasion and only where relevant, our Compliance Department may also require additional documents, such as registration certificates of any parent companies.

In compliance with European and Belgian laws, we separate our company accounts from our clients’ accounts. As a result, all our clients' funds are deposited into separate accounts from iBanFirst's (this is also known as the principle of segregation of accounts). Clients' funds are held by our banking partner, a leading European bank, and it is impossible for iBanFirst and its partners to access them.

Yes, your iBanFirst account can be your main account as it features all the primary services a business needs: a payment solution, direct debit and virtual credit cards. However, please note that to activate your iBanFirst account, you first need to make an initial transfer from your current business account with a . (We are aware this solution may not be ideal for some and are working hard to streamline this process.)

iBanFirst makes every effort to ensure a high level of protection of your personal data.

In compliance with the Data Protection Act, we take all appropriate technical and organizational measures to achieve this security objective.

Please view our Privacy Policy here.

Identity theft and cybercrime are global issues impacting every country and all citizens and companies. National supervisory authorities, including the National Bank of Belgium and the Financial Intelligence Processing Unit, have raised these issues and best practice requires all financial providers to be rigorous and secure on behalf of their clients and in their processes.

Therefore, at iBanFirst we require an initial transfer from you, sent from your business account with a recognised financial provider, registered under your company’s name.

This first transaction will be analysed by our financial security experts, in compliance with the EU’s anti-money-laundering regulations and as part of the global fight against the financing of terrorism and other illegal financial activities.

To terminate your account, please send an email to your Account Manager stating that you want to close your account. The official closing of your account will take place a few hours after your communication has been read, during working hours.

Our payment institution licence, granted by the National Bank of Belgium in 2013, does not allow us to provide loans to clients. Providing loans is a service of banks. Unlike banks, however - since we do not offer loans - we do not use our clients’ funds to provide other services to them. This means our clients’ funds are always 100% secure and available only to them.

We strongly recommend you apply these best practices:

  • Create and maintain a strong, secure password. Do not use a password you have on any other website. For a brief guide on how to create and maintain a password, please click here
  • 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 give your username or password to others, including 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, immediately contact your Account Manager.

Yes, just dial +32 2808 0966 and an iBanFirst Account Manager will be happy to help you, Monday to Friday from 9:00 to 17.00 CET. The office hours for Dealers are 08:00 to 20:00 CET.

No, sorry, we do not provide accounts for individuals. Our service is for companies only and our platform and benefits have been purpose-built for them.

The iBanFirst account is a foreign exchange currency conversions, payments and transfers account designed solely for companies. It functions as your dedicated account with us for all your currency conversions and foreign exchange transactions. You can send and receive payments in 23 currencies. You can also make purchases on the internet with our single-use virtual payment cards.

Your iBanFirst account must always be in credit. Before each transfer, conversion or payment you make, our financial software instantly checks your balance before debiting your account.

Please note that your account with us is not a deposit account. The funds you credit to your account must always be sufficient to cover the payments you make using your account.

If you fill in our contact form, we will get back to you within two working hours. To open an account, we require the following official documentation from you:

  • Client application form
  • ID(s) of the signatory/signatories of the contract. Please note that the signatory/signatories must be able to represent the company, otherwise we require a delegation of power and the ID(s) of the individual(s) allowed, along with ID(s) of the users of the account
  • ID(s) of any Ultimate Beneficiary Owner owning more than 25% of the company
  • Proof of incorporation of the company and the company owning more than 25% of this company or any parent company
  • Articles of association of the company and the company owning more than 25% of this company or any parent company
  • Document signed by a legal representative indicating the shareholding of the company and detailing all the companies and individuals owning more than 25% of any entity in the organigram (if not mentioned in the company’s Articles of Association).

On occasion and only where relevant, our Compliance Department may also require additional documents, such as registration certificates of any parent companies.

Opening an account with iBanFirst alongside your existing banking arrangement gives you access to all the financial services we offer to our clients, as well as the most competitive foreign exchange (FX) rates on the market.

Our services are supported by our carefully selected business partners, which we are confident are among the best finance and financial technology (FinTech) companies available.

With an iBanFirst Account, you instantly have your own IBAN account. Today, we provide you with virtual payment cards and international payment services.

iBanFirst offers prepaid virtual cards. 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 only for online purchases and are not physical cards – they are electronic. Users can make payments over the internet and credit their virtual card.

iBanFirst is a payment institution licenced and regulated by the National Bank of Belgium. We are legally required to know our clients (especially to ensure anti-money laundering), before granting them access to our services. We must also be able to prove our process is compliant with the regulations, and so the documents we require from you are part of this process.

With iBanFirst, you can order a prepaid virtual card to purchase anything you need online. In future, we will offer our clients a physical debit card. With that, you will be able to withdraw money from any cash point machine (ATM). However, please note that we do not process cash deposits or cheques. iBanFirst is a 100% online banking experience from start to finish, to deliver banking as a service of excellence.

iBanFirst is a payment institution compliant with the European Union’s regulations (and because of PSD2, art 28, we have the freedom of establishment principle so we can “passport” our agreement within EU Member States). We are licenced by the National Bank of Belgium, which has a rigorous compliance programme in place with first-tier internal and external audits. The company is well-financed and supported by its main investor, Xavier Niel.

In the worst case, if iBanFirst were to go bankrupt, clients would experience zero impact, because their funds are held separately with our banking partner, a leading European bank. It is impossible for iBanFirst and its partners to access clients’ funds.
 

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

However, please note that companies must have corporate accounts with other banks from which they can make the first payment required to activate their accounts.

The payment will be authorised for the first one that is received by our system, according to the payment’s instructions.

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What are cookies?

A cookie is a small text file that 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 may make website 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), they are deemed to have accepted the cookies. The user can later delete the cookies installed on their computer, tablet or smartphone. Cookies facilitate iBanFirst research by taking automatically into account a set of data – such as a choice of a language – starting from a user’s second visit.

Click on the "Beneficiary" icon at the top right of the screen, and you will find the option "Add a beneficiary". Click on it and complete the beneficiary's bank details to add it to your account. Watch the tutorial here.

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 for 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 also be directly integrated with some accounting ERP systems, to help ensure quick entries. 

There is no summary. All transactions made with the cards are visible in your Euro account statement.

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

You will find the transactions itemised in your Euro account, under the menu heading "Transactions". You can also go to the "My Cards" section and click on the card used. The transactions made with the card will then be visible to you on the pop-up window. (Note: if it is not visible, be sure to check you have disabled on your browser the use of Pop Up Blocker software when viewing our platform.)

If you have forgotten your password, please click here.

Click on the "Accounts" icon and select the account you need to access. You will then have the option to download your bank details.

For optimal use we recommend using Chrome or Firefox, but the platform is also available on Safari and Internet Explorer 10 (and its later versions).

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 relevant card.

If an amount is refunded to the card before its expiry, this amount will be credited directly back to the card. However, a merchant refund will not be accepted onto the virtual payment card after the card’s expiry date.

All companies located in the European Economic Area.

The card is only available in Euro. You will need to have a Euro iBanFirst Business Current account, with sufficient funds, to use the cards.

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

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

It is also a solution you may wish to use for one of your employees to make a one-time payment for the purchase of - as examples, IT equipment, office supplies, furniture or even to order a business lunch.

To create a card, you must have the necessary funds in your iBanFirst Business Account. The funds will be ringfenced (protected) until they are used by the card, the card is cancelled, or it expires. If there are funds remaining on the card at the time of the card’s expiry date, these funds are returned to your account.

The card is only available in the Euro currency. You must therefore have a Euro account with us that has sufficient funds for you to credit to the card.

The iBanFirst virtual payment card has a valid period of use 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.

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

No, the iBanFirst virtual payment only works on the internet for purchases on websites.

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 completed and you have confirmed the card holder details, the card will be automatically assigned to the nominated person.

No, for the sake of clients’ security, an account manager does not have the authorisation to create a card for clients.

The balance you have loaded to the card is ringfenced (protected) 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 belong to the card holder, but to the administrator that created the card. A card holder reference ensures the card is sent to the correct person by email and enables you to identify and check payments when viewing your account statement.

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

The balance you credit on your card is locked in your Euro 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 it, cancel it, or the card expires.

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 payment authorisation card. When you use an iBanFirst card, the seller's payment terminal contacts the MasterCard network to authorise the transaction.

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

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

However, the card does have the usual guarantees of other VISA cards, in terms of protection from fraudulent purchases on the internet.

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

No. This is to protect our clients’ security, so an iBanFirst account manager does not have the right to create a card for clients. Only the administrator of the iBanFirst Business account is entitled to create a card.

All companies located in the European Economic Area.

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

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

  • You have frozen your card
  • Your card has reached its authorised limit
  • The merchant for a transaction is suspected of fraud.

A transaction might 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.

If you pay in a currency other than the Euro, the exchange rates of the merchant are applied. 

The iBanFirst virtual card does not include any insurance or support.

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 want. To create a card, you just have to indicate the value (up to a maximum of €20,000), 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 (if it does not, be sure to check you have disabled on your browser the use of Pop Up Blocker software when viewing our platform).

The card details will then be automatically sent to the card holder by email, who will be able to access the information by providing their telephone number (this must match the one that appears on their iBanFirst profile).

Watch the video here

The card does not belong to the card holder, but to the administrator that created the card. A card holder reference ensures the card is sent to the correct person by email and enables you to identify and check payments when viewing your account statement.

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

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

You can credit up to €20,000, provided you have enough funds on your Euro account. The virtual cards are valid from 2 days to 30 days maximum. The amount that you credit on a card will be blocked until the card’s use, expiration or cancellation: and these three actions will not generate any additional fees from us.

Important: subscriptions aren’t allowed to be charged to the virtual payment card. 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.).

Yes, one account holder can have as many cards as required.

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

The iBanFirst virtual payment 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 you have set the date, you cannot change it.

The balance is transferred to your Euro account at the expiry date of the card. No fees are applied for this process.

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. The iBanFirst virtual payment card remains the property of Anytime, our business partner.

Sometimes this happens when intermediary fees that are unaccounted for are applied to the transfer by the receiving bank or sending bank. At iBanFirst we always use the most cost-efficient payment routes.

We make every possible effort to ensure the fees are accounted for and covered. However, on some occasions fees are applied that are outside of our control. On such occasions, iBanFirst does not benefit in any way from the fee that is applied.

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

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 is automatically credited to the card.

When you create a card, "virtual card" appears in the screen "future operations" of your Euro account. However, if you have not used the balance, it continues to be included in the card. When you cancel the card, the €2,000 is instantly made available, but the available balance does not change.

When you create a card, you see a "virtual card" appear in the Euro account in the "Transactions outstanding" section. The balance remains on the card for use. When you cancel the card, the €2,000 is instantly available, but the available balance does not change as a result.

Freezing the virtual payment card is the same as cancelling it. You can cancel a card when you need to.

To reset the password, go to the "Users" on the menu, and click “edit” to reset your password. We will then ask you for authentication to validate the change.

Any remaining funds from the card balance will be credited to your Euro account.

No, the iBanFirst virtual payment card is can only be used on the internet for purchases on websites.

If the beneficiary’s bank account you made the payment to holds a currency (or currencies) different to the one used to send your payment, it may have been converted to one of the currencies chosen by the beneficiary. To prevent this from happening, you need to ensure the account details given to you by your beneficiary has the same currency as the one you select for payment to them.

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

You can fill in the contact form and we will get back to you as soon as possible. Or you can download the client application form. The client form and all its requirements must be fully completed as part of your application process.

In brief, we require the following official documentation:

  • Client application form
  • ID(s) of the signatory / signatories of the contract. Please note that the signature / signatories must be able to represent the company, otherwise we require a delegation of power and the ID(s) of the individual(s) allowed, along with the ID(s) of the users of the account
  • ID(s) of any Ultimate Beneficiary Owner(s), if such Owners control more than 25% of the company
  • Proof of company incorporation, and proof of a company owning more than 25% of this company or any parent company
  • Articles of association of the company, and proof of a company owning more than 25% of this company or any parent company
  • Client application form must be signed and dated by a legal representative of the company, and detail all the companies and individuals owning more than 25% of any entity in the company’s organigram (organisational chart / company structure)
  • Your company’s bank details are required. Your first transfer to us must be sent from the same bank as the details you send us. The bank must be a credit institution within the European Economic Area, an equivalent jurisdiction, or the country of incorporation of your company.

Please Note

  • For more information about these requirements, please click here.
  • Our Compliance Department may also request additional documents.

iBanFirst provides all the services a company needs to make its international payments in a simple, fast and efficient way. All accounts include:

  • Account management
  • Access to real-time exchange rates from our trading room
  • Pricing adapted to volume
  • Help to transfer your current foreign exchange transactions to us
  • Dedicated support.

With iBanFirst, you can save up to 70% of your foreign exchange transaction costs. We offer a free financial analysis to find out what fees apply to your international payments and transfers with your existing provider, and can offer you a personalised quote based on your transaction volumes. To find out more, please contact us.

We are a member of SWIFT and are SEPA homologated. 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, unlike banks, we do not use a fixed rate. Our quotations are updated every 10 seconds. (This means, for example, that if the market goes up during a short period, you can take full advantage of the upward trend.)

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

Note: To guarantee a transfer in 24h, a cost of €6 is charged.

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

There are no annual fees to open and maintain an account with us, provided you use it to complete per year a minimum €100K of foreign exchange transactions (whether currency conversions, or conversions with payments at the same time).

For a comprehensive view of our standard fees and charges, please click here

Tailored quote on fees

We can offer you an attractive, competitive and tailored quote for fees, based on a free analysis by one of our experts, of:

  • your current foreign exchange transaction volumes.

This analysis will also help us to calculate for you the fees/charges your current banking provider applies to your existing foreign transactions.

To discuss your company requirements and for us to provide a personal quote, please contact one of our iBanFirst Business Account Managers, by filling in the form here.