Bank Transfer Initiation in Open Banking
Bank transfer initiation in open banking is a fast and simple way to make an online bank transfer directly from the iBanFirst platform. Instead of using your online banking through a separate internet window or another device, you can connect to a secure page hosted by your bank and authorize a transfer to your iBanFirst account without leaving the platform.
How to use open-banking bank transfer initiation?
1. Select the iBanFirst account to be credited.
2. Select the option to initiate a transfer from an external bank account.
3. Choose the amount you want to transfer to your iBanFirst account.
4. Use your phone to scan the QR Code, or click continue with a computer.
5. Enter your online banking login details when prompted.
6. Confirm the operation to authorize the transfer.
**Data Security:** We do not store or have access to your personal banking data during the open banking transfer initiation. All banking login information is processed securely and in accordance with data protection standards.
Frequently Asked Questions:
What are the transfer times? According to the timeframes set by your banks, a SEPA transfer can take from a few seconds to two business days to be credited to your iBanFirst account. Exact times may vary depending on the specific policies of your issuing bank.
Does iBanFirst have access to my personal banking data? No, iBanFirst neither stores nor has access to your banking login information. All data is handled securely and in compliance with current regulations.
Are there any fees for using open banking transfer initiation? iBanFirst does not charge any additional fees for open banking transfer initiation.
What are the transfer limits with open banking transfer initiation? Transfer limits may vary according to your bank's policies and local regulations. Please check with your bank for more details.
Bank Coverage for iBanFirst Through Powens for PIS Services
iBanFirst collaborates with Powens to offer extensive bank coverage for its Payment Initiation Services (PIS). Powens is a provider of financial data aggregation solutions, ensuring secure and comprehensive access to various banks. If you want to know if your bank is on the list of available banks or if you wish to add it, please contact us at: csm@ibanfirst.com.