HOW VIRTUAL IBANs WORK

USA
  • Payer in USA

    Makes a bank transfer to your virtual IBAN account in your company name which will be a local transfer to them instead of an international transfer.

  • IBAN route

    Your receiving payment is received to your IBAN account and automatically routed to your actual bank account in i.e. UK or your ibanex e-wallet.

  • Received funds

    Your payment from the USA is received on the *same day in your bank account or ibanex e-wallet. You will receive USD only if routed to a USD account.

  • Convert funds

    If your payment is directed to your e-wallet then you are free to convert your Euro’s in to any currency in full or part or you can store them.

HOW VIRTUAL IBANs WORK

EUROPE
  • Payer in Europe

    Makes a bank transfer to your virtual IBAN account in your company name which will be a local transfer to them instead of an international transfer.

  • IBAN route

    Your receiving payment is received to your IBAN account and automatically routed to your actual bank account in i.e. UK or your ibanex e-wallet.

  • Received funds

    Your payment from Europe is received on the *same day in your bank account or ibanex e-wallet. You will receive Euro only if routed to a Euro account.

  • Convert funds

    If your payment is directed to your e-wallet then you are free to convert your USD in to any currency in full or part or you can store them.

KEY BENEFITS

Making business better
  • Instant account set up for USD and EURO IBANs
  • Local clearing capability plus cross border payments through the SWIFT network
  • Ability to leverage the ibanex network to make and receive payments instantly
  • Access to our award-winning FX platform via web, tablet and mobile
  • Same day settlement for SEPA payments
  • Reduced AML and KYC risk as a result of end to end transparency and clear segregation of funds
  • A 35+ multi-currency, multijurisdictional banking solution which negates the need to have several banking relationships
  • Improved payments acceptance, settlement times and reconciliation because payments are made in the name of the Virtual IBAN account holder

Let's Discuss Your forex needs

0330 124 3084

OTHER SERVICES

More than just moving money

Forward Contracts

With transactions involving a future payment, or series of payments over time, a Forward Contract will protect you from adverse market movements throughout your transaction. You can fix an exchange rate for up to two years in advance, with the option to draw on the funds at any time.

Risk Management

Our tailored foreign exchange services allow you to manage currency exposures with a dedicated financial expert, using a bespoke strategy that will protect your margins and deliver certainty. By evaluating your business we’ll identify key risks and identify key solutions that will keep you ahead.

Limit Orders

If you have the time to wait for favourable market movements, you can choose to place a Market Order. To do this, you simply nominate your target exchange rate and then we’ll monitor the market’s movements and only execute the trade for you once your desired rate has been reached.

Stop-Loss

A Stop-Loss Order acts as a safety net mechanism, by allowing you to nominate a lower exchange rate that will minimise (“stop”) your losses in the event of a sudden fall in market value. You can simply instruct your ibanex account manager to buy or sell at the level you need protected.

OPEN YOUR FREE ACCOUNT TODAY