cross-border transactions iBanFirst Limited (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. iBanFirst is focused on cross-border transactions. The company offers business IBAN accounts, cross-border payments, international payment tracking, currency risk management to companies.
WorldwideThe new standard for cross-border transactions
One click is all it takes to open a currency account
Enjoy fast, reliable and effortless currency conversions and payments
Cut out unnecessary costs with access to highly competitive exchange rates
Transaction fees are totally transparent. What you see is what you pay. No surprises
(*)as stated by the company itself
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, iBanFirst Limited is assigned the overall rating 3.63 (good) which is explained in details below.
| Operating Environment | Very Friendly | (4.81) |
| Product Range | Focused | (2.29) |
| Market Niche | Broad | (3.62) |
| Company Background | Poor | (1.98) |
| Customer Support | Good | (3.43) |
| Customer Sentiment | Excellent | (4.21) |
| Transparency | High | (4.08) |
| Overall Rating | Good | (3.63) |
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TheBanks.eu has also identified the following pros and cons of the company:
Seize global opportunities faster
Open multi-currency accounts in minutes, not days
Multi-currency payments in and out
Fast and cost-effective
Everything you need, all in one place
(*)as stated by the company itself
Augmented Currency Accounts is a multi-currency account, allowing the account holder to have funds in the following currencies:
AED (UAE dirham)
AUD (Australian dollar)
BGN (Bulgarian lev)
CAD (Canadian dollar)
CHF (Swiss franc)
CNY (Renminbi (Chinese) yuan)
CZK (Czech koruna)
DKK (Danish krone)
EUR (Euro)
GBP (Pound sterling)
HKD (Hong Kong dollar)
HUF (Hungarian forint)
ILS (Israeli shekels)
JPY (Japanese yen)
MXN (Mexican peso)
NOK (Norwegian krone)
NZD (New Zealand dollar)
PLN (Polish złoty)
RON (Romanian new leu)
SAR (Saudi riyal)
SEK (Swedish krona/kronor)
SGD (Singapore dollar)
THB (Thai baht)
TRY (Turkish lira)
USD (US dollar)
ZAR (South African rand)Payment cards are not offered together with Augmented Currency Accounts.
Dedicated IBANs assigned to Augmented Currency Accounts belong to the United Kingdom.
Augmented Currency Accounts is offered to all countries.
Augmented Currency Accounts is offered with a single pricing plan for all customers.
iBanFirst is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
iBanFirst Limited is not registered with the FCA as a crypro asset firm.
iBanFirst do not offer crypto assets services.
United KingdomiBanFirst Limited is authorized by the Financial Conduct Authority as a e-money institution (reference number 1001629) for issuance of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance; the authorization was granted on 16 August 2024.
iBanFirst Limited is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, iBanFirst is required to safeguard its customers’ money.
Since January 2021, iBanFirst Limited can not conduct its activities in EEA member states.
iBanFirst Limited is a SWIFT member.
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