iBanFirst offers local IBANs in Germany (DE), the Netherlands (NL), and Luxembourg (LU), helping you align your account with your country of registration and day-to-day operations.
Why switch to a local IBAN?
For you, the account holder:
Better compatibility with local systems. Local IBANs work more smoothly with domestic accounting, ERP, and payroll systems; reducing payment rejections and simplifying reconciliation.
Alignment with local business practices. Some domestic providers require a local IBAN to process direct debits correctly.
For your senders:
Wider compatibility. Certain platforms, marketplaces, payroll providers, and government portals only accept local IBANs for payouts.
Who is eligible for a local IBAN?
Your company must be registered in the country matching the IBAN you want:
DE IBAN → registered in Germany
NL IBAN → registered in the Netherlands
LU IBAN → registered in Luxembourg
What to do before the migration:
Make sure all pending payments are complete. Check that all outgoing and incoming payments on your Belgian accounts are fully processed, including any transfers waiting for your signature. If you're unsure about a specific transaction, contact your iBanFirst account manager.
Remove all scheduled payments before migration. These accounts will be deactivated during the process, and any scheduled payments linked to them will not be executed. You will need to recreate them on your new account after migration.
Download account statements for all currency accounts. Download up-to-date statements on the morning of migration day. Once your Belgian accounts are deactivated, access to them will be limited.
Wait for iBanFirst's confirmation before making payments on migration day. Do not execute any payments until you receive official confirmation from iBanFirst that the migration is complete.
What happens during the migration?
iBanFirst manages the entire process on your behalf:
Step 1: iBanFirst creates your new accounts with DE, NL, or LU IBANs. Your account manager sends you the new account details.
Step 2: iBanFirst transfers your funds currency by currency, free of charge. Your funds remain secure throughout, nothing leaves the platform.
Step 3: iBanFirst closes your old accounts once the balance reaches zero.
After the migration
Share your new IBANs with your clients and commercial partners, your suppliers (for any active direct debits), your invoicing tools or your tax authority, if applicable.
Recreate any scheduled payments using your new local IBAN.
Any payments sent to your old Belgian IBANs will be automatically forwarded to your new account for one month. After that, transfers to old IBANs will be returned to the sender.
Need help?
Contact your iBanFirst account manager or our support team, we're here to make the transition as smooth as possible.