iBanFirst offers a comprehensive range of payment speeds and fees, allowing companies to choose what best fits their needs.
Payment speeds and fees can be selected when creating a payment and depend on the beneficiary's account, bank, and country.
Payment speeds
Payment speeds range from instant to standard:
Instant - You can receive Instant Payment IN from another bank.
Internal – Payments between iBanFirst accounts are instantaneous (and free of charge!)
RTGS – Payments with the RTGS (Real-time Gross Settlement) speed option are received by the beneficiary's bank in as little as one hour during business hours. Please note that payments may take a little longer to actually be credited to the beneficiary's bank account.
Express – Payments with the Express speed option are usually credited to the beneficiary's bank account within 24 hours.
Standard – Payments with the Standard speed option are usually credited to the beneficiary's bank account within 2 to 3 business days.
Please note that payment speeds are not guaranteed and may vary depending on factors such as regulatory and compliance checks, payment cut-off times, as well as the beneficiary's bank.
Payment fees
Applicable payment fees are available here:
and
For SWIFT Payments, 3 different types:
OUR – The payment initiator bears all the fees, with a fixed amount charged to the initiator and debited from their iBanFirst account upon payment execution.
BEN – The payment beneficiary bears all the fees; no fees are charged to the payment initiator.
SHARE – Fees are split between the payment initiator and the beneficiary, with a fixed amount charged to the initiator and debited from their iBanFirst account upon payment execution.