Registration is free and you are under no obligation to use our services.
Once your application has been approved by our compliance team you will be allocated a unique client number which is your account ID.
You can then discuss your situation with your allocated currency expert and agree a plan to buy or sell currency. You can agree an exchange rate over the phone or online which will be confirmed with a contract note via email.
On the contract note we supply details of our client account at Barclays Bank PLC so you can pay for your transaction.
At this stage you then complete the onward payment instructions so we can transfer your bought currency to your specified beneficiary account.
Opening a foreign exchange account is simple and should take no more than a few minutes of your time. Registration is free and carries no obligation to trade, but it does allow you to call for a live rate of exchange.
iBanFirst operates a fast track service for registration of UK businesses utilising electronic checks in place of certified ID for the company, directors, shareholders and partners. As part of the process, we have to carry out an identity check of each company representative in order to comply with UK anti money laundering regulations (this is NOT a credit check). In some cases, to aid identification, we may ask for further documentation; your account manager will keep you informed along the way.