iBanFirst accounts are nominative accounts with a dedicated IBAN. They can be credited by:

  • Bank transfer initiation through open banking

  • Bank transfer

  • SEPA direct debit

Bank transfer initiation through open banking

Initiating a bank transfer through open banking is a quick and easy way to make a bank transfer online directly from the iBanFirst platform. Instead of going to your online bank in a separate internet window or on another device, you can log onto a secure page hosted by your bank and authorise a transfer to your iBanFirst account directly from the iBanFirst platform without having to create a transfer manually.

How do I initiate a bank transfer through open banking?

Start by synching your external bank account on the iBanFirst platform Under the “Accounts” tab, go to the “External Banking Accounts” section. Choose the account from which you wish to initiate a transfer to your iBanFirst account. From the available actions menu, choose “Credit my iBanFirst account”. Enter the amount to be transferred as well as any message you would like to add.

You will be directed to your bank’s website, where you will have to log in. You may also need two-factor authentication (for example, entering a code sent to your phone)

Since the login page is a secure page hosted by your bank, iBanFirst has no access to the information you use to log in, nor any data relating to your bank account or your transactions on this account, except for the payment you have approved.

Bank transfer

Accounts can be credited with SEPA (for EUR accounts) or SWIFT bank transfers (for accounts in currencies other than EUR). 

Go to Account details tab of the account to be credited to find your account number and bank transfer instructions:

SEPA direct debit

EUR accounts can also be credited with a SEPA direct debit from your bank account, provided you have signed a SEPA direct debit mandate. 

Go to Settings > Bank accounts to add a new bank account and sign a SEPA direct debit mandate.

Once signed, you will need to send the mandate to your bank to have it registered. We will do €1 test direct debits to confirm that the mandate has been correctly registered. The mandate is considered as active after a first successful direct debit. You will receive notification emails for each successful or failed direct debit.

Once activated, go to EUR account > Actions > Credit with SEPA direct debit.

Account credits with SEPA direct debit take slightly longer than regular bank transfers, with up to 5 business days required from initiation to credit.

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