iBanFirst

iBanFirst is a payment institution for international business settlements. The Belgian entity, iBanFirst S.A., is supervised by the National Bank of Belgium (company number 0849.872.824) and has its office on Avenue Louise in Brussels. In the UK, iBanFirst Limited is described separately as an FCA electronic money institution (FRN 1001629).

Services The company offers business accounts, payments, delivery spot FX and delivery forwards in a multi-currency account setup. Forward payment contracts are meant for paying identifiable goods and services, not for speculation, and speculative FX instruments are not part of the stated offer. Linking external bank accounts and initiating payments through PSD2 APIs are also described, and documentation is published.

Safeguarding The provider states that client funds are segregated from its own funds and held with a custodian bank.

Who it suits The product fits importers, exporters and other companies that pay suppliers or collect revenue in several currencies and want a fixed rate for a future payment.