Opening an iBanFirst account is a fully digital process:
Fill in the account opening form to be contacted by an iBanFirst sales representative.
Send your company and UBO documentation over. We might also be able to retrieve some of it ourselves, to save you the hassle.
Our compliance team will review your application and conduct the necessary KYC (Know Your Customer), AML (Anti-Money Laundering), and CFT (Counter Financing of Terrorism) checks, in accordance with our obligations as a regulated payment institution.
Your account manager will set up your account to ensure you can get up and running quickly.
To activate your account, you will need to make an initial transfer (also known as an activation bank transfer) from your main bank account. Please note that this transfer must originate from an account in your company’s name and should be held at a bank or credit institution located in the European Economic Area (EEA) or an equivalent jurisdiction.
Opening an account usually takes 3-5 days but can be as quick as one day for companies with simple structures and all their documentation ready.