iBanFirst vs Wise
iBanFirst: a reliable alternative to Wise Business
Is your business outgrowing Wise? With iBanFirst, you get a partner that does more than just move money. We bring you advanced currency management and the dedicated support you need as your business grows.
Wise delivers an easy and budget-friendly intro to cross-border payments
Wise works best for freelancers, solopreneurs and smaller businesses that want a simple, low-cost way to send and receive international payments.
iBanFirst is built for businesses that run on cross-border payments
For growing SMBs with more substantial needs, iBanFirst offers an upgraded experience with advanced FX risk management tools and tailored support.
Where Wise falls short
Wise Business customers...
What sets iBanFirst apart
Built for growing businesses
Wise Business
Wise Business is great for freelancers and small businesses handling occasional international payments. But if your business is growing and your transactions are becoming more frequent, Wise may not keep up.
iBanFirst
Leverage our user-friendly platform, multi-currency accounts, and dedicated support to efficiently manage all your cross-border transactions. We can help you handle higher volumes and more frequent payments without a hitch.
Advanced FX risk management
Wise Business
Wise keeps things simple, but that comes at a cost—there’s no way to manage currency risk, leaving your business exposed to unpredictable market swings.
iBanFirst
Keep currency risk under control with fixed, flexible, and dynamic forwards. Work with our FX experts to create a strategy tailored to your business needs.
Dedicated account managers, no exception
Wise Business
With Wise, personalised support is only available for select high-value clients, leaving most businesses without direct, hands-on assistance when they need it most.
iBanFirst
With us, you have a dedicated account manager who knows your business and is just a phone call away. From set up to FX strategy, we’re with you every step of the way,
What makes iBanFirst different is the customer care. I always get very quick answers from my Account Manager. At iBanFirst, we've found a partner who understands our business model, its limitations and its needs, and who will support us as we grow.
Charley Hochet, Docshipper
Wise Business vs iBanFirst
Wise Business
Opening an account
€50
In Europe
£60
In the UK
€0
Subscription fees
€0
Free
€0
Free
Multi-currency accounts
40+ currencies
25+ currencies
Conversion fees
From 0.33%
Fee varies by currency
€0*
Free
Transfer fees
Fixed fee
Fee varies by currency
€0
Between iBanFirst accounts
€0
SEPA transfers
€0/BEN1,
€5/SHARE2,
€10/OUR3
SWIFT transfers
Payment speed
2-5 days
Average speed for most currencies
2-3 days or less*
For select currencies
Payment tracking
Limited visibility per stage
Detailed real-time tracking at every stage for SWIFT and SEPA payments
Receiving USD wire and Swift payments
US$6.11
Free
Receiving CAD Swift payments
CA$10
Free
Debit card
Linked to Wise account
None
FX risk management
None
Fixed, flexible and dynamic forward contracts
Onboarding
Self-service
Personalised onboarding with hands-on assistance
Dedicated account managers
Only for high-value transaction clients
Dedicated account managers with FX expertise for all clients
1 BEN: the payment beneficiary is bearing all the fees
2 SHARE: fees are split between the payment initiator and beneficiary
3 OUR: the payment initiator is bearing all the fees
Frequently asked questions
Is my business eligible for an iBanFirst account?
Any company with international and foreign exchange payment volumes of more than €200,000 per year is eligible to open an iBanFirst account. Restrictions may apply depending on the country of origin, the activity of the company, or the origin of the funds.
Are iBanFirst services available for individuals too?
iBanFirst specialises in offering SMEs the best possible solution for their needs. Therefore, we do not offer the same scope of services to private entities. However, in cases of significantly larger private transactions (real estate purchases, for instance) it is possible to open a non-commercial account with iBanFirst.
For specific inquiries, feel free to contact us directly.
Which currencies does iBanFirst offer?
iBanFirst currently offers over 30 currencies to open accounts, receive payments, hold funds and make payments. You can check the list of currencies available here.
What’s iBanFirst pricing model?
At iBanFirst, we offer competitive and transparent foreign exchange rates and fees. Here you can find a complete overview of all our fees applied.
Unlike most corporate banks, iBanFirst does not charge any fees to open an account nor any monthly subscription fees.
iBanFirst earns a spread on every currency conversion, calculated as the difference between the market rate and the client rate. This spread is transparent and shown on the web platform or communicated over the phone.
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iBanFirst S.A. is door de Nationale Bank van België (onder KBO nummer 0849.872.824) erkend en gereguleerd als betalingsinstelling. Het bedrijf is een direct lid van het SWIFT-netwerk en is gecertificeerd om betalingen uit te voeren in de hele SEPA-zone. Als betalingsinstelling biedt iBanFirst S.A. uitsluitend hedgingoplossingen aan (forward, flexible forward en dynamic forward) die gekoppeld zijn aan onderliggende betalingsverrichtingen. iBanFirst S.A. biedt geen opties of andere financiële instrumenten aan voor beleggings- of speculatieve doeleinden.