iBanFirst Introduces Local USD Accounts to Support Firms in their US Expansion Efforts

At a time when the EUR/USD pair has never been so sensitive to market fluctuations, iBanFirst is now offering its clients “the possibility of opening local accounts in USD to facilitate the transfer of flows from European SMEs to the US.”

It can be particularly cumbersome and time-consuming “to open a local USD account which is why iBanFirst wants to offer its clients, and especially those operating on marketplaces, a cheaper and faster alternative.”

For customers with local offices in the US or customers who trade internationally, USD accounts will “offer more agility and operational efficiency, from rapid account opening to immediate fund transfers between iBanFirst accounts, flexibility and much more.”

Long processing times, rigid processes, and high and opaque fees are among the many obstacles that companies “doing business across the Atlantic can encounter.”

Specialized in international payments, iBanFirst’s main priority is “to meet its clients’ needs in this domain.”

From now on, “thanks to local USD accounts, clients will be able to collect revenues from local sales, aggregate all their accounts in one place, make payments instantly and free of charge, and benefit from favorable exchange rates.”

Pierre-Antoine Dusoulier, CEO of iBanFirst, said:

“Our mission is to support our clients who trade internationally and to simplify their day-to-day business practices. The US market and the EUR/USD pair are crucial for our clients. It was very clear to us that offering them solutions such as local accounts in USD were crucial. With a presence in 10 countries, the ability to offer local US accounts, and a secure and transparent technological interface, iBanFirst is a natural alternative for international payments.” 

Alin Latu, Country Manager iBanFirst România, added:

“Our objective is to offer our clients the services they need. We’ve noticed that for some of them, expanding to the US can sometimes be complicated just for banking reasons related to collecting profits in USD and managing flows. That is why creating local USD accounts appeared to be an obvious choice. Removing the technical barriers, allowing clients to focus on their international expansion: this is what we do every day with the strength of our technology and the know-how of our FX experts.”

The Bucharest office has “reached 330 companies, from industries such as agriculture, retail, logistics, shipping, steel, energy, that import and export via the platform.”

The main target customers “are companies with an annual foreign exchange trading volume of at least 500,000 euros.”

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