June 4, 2021

iBanFirst: Execute transactions in foreign currencies

This time we would like to introduce you to a service provider that could also be interesting for many Amazon sellers: It is about iBanFirst. The company comes from the financial technology sector and specialises in international transactions. This year, it also opened its first location in Germany in Munich. On this occasion, we would like to show you what services iBanFirst offers and how you can concretely benefit from them. We will also explain how to open your own account. Finally, we share our own experiences.

What is iBanFirst?

The company iBanFirst originally comes from Belgium. In the meantime, there are locations in the neighbouring countries of France and the Netherlands. Recently, iBanFirst has also been represented in Germany. Small and medium-sized enterprises are the main target group for the financial service provider. The reason is that global transactions often create risks for international business partners, which in turn results in suboptimal exchange rates. For German companies, there is also the fear that profits will be reduced if business is conducted in a currency other than the euro. Another sticking point is the lack of transparency in such transactions. iBanFirst has addressed these aspects and developed a platform through which global transactions can be carried out with a low level of risk and in a way that is manageable for every customer.

What services does the platform offer?

In the next sections we will go into the individual services you can expect from iBanFirst. Especially important are payments abroad and foreign exchange transactions. We will also inform you about the online platform and the payment tracker, through which you can monitor all payments.

Payments abroad

With iBanFirst you can make payments to business partners without the complications mentioned above. You can choose from more than 30 different currencies and there are no limits to the number of countries you can send the money to. Moreover, everything is done online and with a high standard of security. Moreover, foreign exchange transactions can be made at a specific date, which means that you are not affected by a deterioration of an exchange rate.

Online platform and payment tracker

Via the iBanFirst online platform, you can determine how quickly a transaction should be made. This way you also keep track of all costs incurred. So that both you and your business partners know where the money is at all times, both parties receive continuous notifications. Consequently, the entire process from issuing to receiving a payment is monitored. The payment tracker therefore ensures that everything remains traceable. Overall, this helps to facilitate cooperation, maintain trust and secure the basis for renewed business with international partners.

Where do you benefit from this?

Up to this point, we have mainly focused on the theoretical advantages of iBanFirst. Therefore, we would now like to look at concrete examples where you can benefit from the services. First, we will look at payments to suppliers, business partners or employees. Then we will show the advantages for the management and transactions of private individuals.

Payments in local currency

Online merchants and Amazon sellers often do business with international partners. However, delays can always occur with payments. With iBanFirst, you can process everything quickly and smoothly. Specifically, payments to suppliers abroad, other companies or employees who live in another country. The good thing is that you are not tied to a thousand places, but everything is centrally regulated. Accordingly, your partners receive your money in the currency of their own country.

Management and transactions of private individuals

In terms of management, a positive feature of iBanFirst is that you can manage all kinds of accounts you have with various banks via the online platform. This is possible because the company has PSD2 accreditation (Payment Services Directive2). In addition, with iBanFirst you can make payments to private individuals that are faster than transactions made through banks.

What do you need to open an account?

To open an account with iBanFirst, you need your first and last name. Secondly, you need to have your email address and telephone number ready. As far as your own company is concerned, you need both the registered name and your commercial register number. Furthermore, you need to state your annual foreign exchange volume. At this point we have a savings tip for you: With our link you can carry out transactions free of charge for the first two months after opening an account with iBanFirst. So, take a closer look at the offer!

iBanFirst experiences

As a service provider, iBanFirst is particularly convincing in that payments are available in many currencies and to almost all countries. In addition, everything runs via a central platform, which makes one's work easier and enables seamless monitoring of transactions. For Amazon sellers who have partners abroad, opening an account with iBanFirst is therefore a sensible step towards optimising payment processes.

That was our overview of iBanFirst, the contact for international transactions. Do you have any further questions about the various services or need other support in your online business? Then please feel free to contact us. We will be happy to help you at any time. Feel free to send us a message - without obligation, of course.

MadeByBrain - Agency for Amazon Sellers

We look forward to hearing from you.

via iBanFirst

Note: This post contains affiliate links.


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