FREQUENTLY ASKED QUESTIONS/Difference between an IBAN and a standard bank account/

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What is the difference between an IBAN payment account and a standard bank account?

The IBAN payment account is a nominative account whose structure with a unique IBAN provides with the same level of services than any other regular bank account when it comes to payment.

The opening of an IBAN bank account with iBanFirst can only be carried out online. At iBanFirst, the IBAN account is different to other traditional bank accounts as this bank account can’t be a debit account. Indeed, you can only receive payments into this bank account. Besides iBanFirst doesn’t offer loans.

Please note that iBanFirst is a payment institution approved by the National Bank of Belgium since 2013,


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