March 17, 2022

10 Questions for iBanFirst: Everything about service, currencies and costs

As part of our new YouTube series "10 Questions for..." we recently conducted an interview with Mark Elser, iBanFirst's branch manager in Germany. We would now like to share some of the answers with you in blog format. Accordingly, we answer 10 questions to iBanFirst at this point. Click here for the full version of the interview in German language.

What is iBanFirst?

First, we wanted to clarify, especially for newcomers, what iBanFirst actually is. Mark Elser describes iBanFirst primarily as a provider of international payments. Because of the smooth processing, he also describes the company as a "speedboat among banks in Germany". The main target group here is corporate customers who need support with foreign transactions. iBanFirst is also characterized by the fact that currency risks are always hedged, according to Elser.

What can customers expect from the services?

When asked about the services, the first thing that comes to Mark Elser's mind is the speed and simplicity of the services. He also emphasizes the great advantage that iBanFirst offers its customers through a browser-based solution. In addition, customers can always rely on customer service. They are connected to the German locations in Munich and Düsseldorf and not to a call center. Finally, Mark Elser mentions the attractive conditions for transfers that customers can expect.

Why are foreign transactions also important for Amazon Sellers?

Here, Mark Elser points out that a large part of Amazon Seller's goods are produced in China, which is why international payments are necessary for production and transport. iBanFirst supports US dollars, for example, but also the Chinese yuan. Moreover, a payment from Germany to China usually takes place within two days.

Which currencies are supported?

Mark Elser answers this question by saying that all major currencies are supported at iBanFirst. Numerically, this means a repertoire of more than 30 currencies. Most frequently, customers use payments in US dollars. In addition, you can of course also pay in British pounds, Swiss francs or even South African rand. iBanFirst accordingly always strives to meet the wishes of its customers.

How much does the service cost?

When it comes to costs, iBanFirst focuses on transparency. Unlike big banks, you therefore don't have to expect complex fee models. There are only two cost items: a transfer fee and a fixed currency surcharge. On the other hand, there are no costs for opening an account and holding it.

That was our contribution to 10 Questions for iBanFirst. For answers to more questions, feel free to check out the matching podcast. Do you have additional questions about iBanFirst* or need help with Amazon optimization? Then feel free to contact us. We are always ready to help you with words and deeds. Feel free to send us a message - without any obligation, of course.

MadeByBrain - Amazon Seller Agency

We look forward to hearing from you.

via YouTube


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