Payment types can be selected when creating a payment and depend on the beneficiary's account, bank, and country.
Internal -– Payments between iBanFirst accounts are instantaneous and free of charge
SEPA - Single Euro Payments Area is the format for Eurozone euro transfers, equivalent to a domestic transfer within your own country.
PSD - denominated in one of the currencies of an EEA member state (i.e.: EUR, HUF, ISK, NOK, PLN, RON, SEK, CHF, CZK, DKK).
SWIFT - for international transfers in multi-currency outside eurozone
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.
Fees options for SWIFT Payments:
Intermediary and beneficiary banks might charge a fee to process SWIFT transfer requests
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.
SEPA: For a transfer to be SEPA-eligible, it must meet the following criteria:
euro denominated
processable automatically thanks to the beneficiary’s IBAN (International Bank Account Number)
operated within the SEPA zone: includes 36 countries, namely the 27 EU member states and 9 non-EU members:
27 European Union (EU) member states: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.
the 3 European Economic Area (EEA) members (Iceland, Liechtenstein, and Norway), plus Andorra, Monaco, San Marino, Switzerland, the United Kingdom, and the Vatican City State.
PSD: applied for payment denominated in one of the currencies of an EEA member state (i.e.: EUR, HUF, ISK, NOK, PLN, RON, SEK, CHF, CZK, DKK) and from and to an account located in a PSD country
Applicable payment fees are available here:
https://ibanfirst.com/fees for all countries, except for UK: https://info.ibanfirst.com/en-gb/fees