iBanFirst offers very attractive rates for currency conversion, significantly cheaper than banks. iBanFirst adds a fee to the interbank mid-rate. They fix the exchange rate at 14.15 pm of the last business day, such that the exchange rate prior to the surcharge of iBanFirst is very close to the official ECB exchange rate for that date.
The conversion cost is shared between the entrepreneur and the investors. The entrepreneur pays the transaction fee at the start of the loan. Investors pay a 0.4% transaction fee on their repayments. We strive to offer an interest rate which is net (i.e. after conversion costs) 0.6-1.1% higher compared to similar EUR projects.