ibani - Borderless Money 1.38

Review of ibani's Services

ibani offers an innovative approach to managing currency exchange and international transfers. The platform allows users to obtain Swiss IBAN numbers for free, facilitating seamless and cost-effective bank transfers.

How It Works:

1. Download the mobile app.
2. Select a currency pair.
3. Enter the destination bank account details.
4. A Swiss IBAN is assigned to the beneficiary account.
5. Utilize the assigned IBAN to transfer funds, minimizing exchange fees.

Personal Swiss IBAN Numbers:

Users are provided with unique Swiss IBAN numbers, enabling efficient automation of money transfers between accounts in different currencies. This process is designed to be straightforward and secure.

Transparent Rates:

The currency exchange calculator ensures that users are well-informed about rates and net amounts before initiating a transfer, eliminating any unexpected costs.

Competitive Exchange Rates:

ibani operates on real market exchange rates, applying a minimal degressive margin of 0.4%. This represents a significant cost advantage compared to traditional banks, potentially offering savings of up to ten times.

No Hidden Fees:

The absence of transfer or processing fees, along with no charges for account opening or maintenance, positions ibani favorably for cost-conscious users.

Simplified Transactions:

Unlike other services, ibani’s unique IBAN system eliminates the need for reference numbers during bank transfers. This can simplify transactions considerably.

Flexible Currency Exchange Options:

Transfers can be completed automatically by default; however, users have the option to switch to manual mode, allowing them to control the timing of currency exchanges within a 30-day window.

Invoice Payments:

ibani provides a convenient feature for managing Swiss invoices. Clients simply forward their invoices for payment, which can be deducted from future transfers automatically.

Efficiency:

The service guarantees prompt processing of funds; clients can expect converted funds within an hour if transfers occur early in the business day.

Security Assurance:

The platform functions within the established banking framework, ensuring a security level comparable to traditional banks and safeguarding against potential loss or embezzlement of funds.

No Transfer Limits:

Clients benefit from unlimited frequency and volume in money transfers, catering to varying transaction needs without restrictions.

Referral Program:

ibani incentivizes user engagement through a referral program that awards CHF 25 for each new referral and CHF 10 for the referred individual, promoting community growth effectively.

Customer Service:

The support team is accessible across multiple channels—email, phone, or social media—ensuring that users receive assistance from knowledgeable representatives rather than automated responses.

Business Accounts:

This service is particularly beneficial for businesses dealing with multiple currencies, offering substantial reductions in currency exchange costs while streamlining existing financial processes.

About ibani:

Established in 2018 in Geneva, Switzerland, ibani SA is an authorized and audited financial intermediary. With a proven track record of numerous clients and transactions, the company adheres to regulatory standards set by VQF and FINMA, reinforcing its commitment to compliance and customer trust.