In accordance with European law, iBanFirst is obliged to segregate funds transferred by its clients pending payment. In other words, iBanFirst must, each day, deposit in a separate bank account all amounts received by its customers. This account is independent, protected by the guarantee of the deposits and separated from all the funds and own accounts of iBanFirst.
As a result, clients' funds are protected from iBanFirst's creditors. In the event of bankruptcy, for example, there is therefore no mix of ownership.
iBanFirst is the only payment institution authorised in continental Europe to make payments with exchange by the National Bank of Belgium. This location in a country at the forefront of payment technology and the strategic oversight committee make iBanFirst one of the most serious players in the market.
For more information, visit www.ibanfirst.com