You can credit your iBanFirst account with a bank transfer or a SEPA direct debit. See: Crediting an iBanFirst account.
For some countries outside of the SEPA zone, including Hungary, you can also credit your iBanFirst account with a local payment instead of an international bank transfer, save time and money.
Credit an iBanFirst account with a local payment
For the clients in the below countries, it is possible to credit an iBanFirst account via a local payment in those countries, instead of a SWIFT payment:
- Hungary (HUF): since March 5th, 2020
- UK (GBP): from Q2 2020
- US (USD): from Q3 2020
To verify if this option is available to you, go to Account > Account details and check that you have both a "Local" and an "International" option.
To credit your iBanFirst account with a local payment, you must send a payment from you company's bank account in one of the above countries (for example, Hungary), to the account referenced in the "Local" tab:
- Save these new account details. For these details, the beneficiary bank is a local bank in your country. The payment will thus be sent locally instead of being sent through SWIFT.
- Make a payment to this account. For Hungary: do not forget to include the account reference (914xxxxxxxxx) in the communication of your payment.
- The funds will be credited on your iBanFirst account within 2 days.
Warning: if the account reference if not included in the communication of your payment, the funds might not be credited on your iBanFirst account and might be returned to your bank account.