Isn’t it easier to use my bank to transfer currency?
Foreign exchange is a specialised field, often outsourced by banks. With 15 years of expertise, our team ensures efficient, cost-effective transfers. Choosing a bank may lead to higher fees and prolonged processing times.
Do I have a dedicated account manager?
Absolutely, every client is assigned a dedicated account manager for assistance.
What guidance do you provide on currency transactions?
We equip clients with real-time market data enabling informed decision-making.
What are your transfer fees?
Fees vary depending on the currency. In most cases, there are no transfer fees, offering you a cost-effective solution for your currency exchange needs.
Which currencies does Ibanista offer?
Ibanista offers a wide range of 37 different currencies, providing you with an extensive selection to cater to your specific needs. Here is the comprehensive list: Australian Dollar, Bahrain Dinar, Canadian Dollar, Chinese Yuan, Czech Koruna, Danish Krone, Euro, Hong Kong Dollar, Hungarian Forint, Indian Rupee, Indonesian Rupiah, Israeli Shekel, Japanese Yen, Kenyan Shilling, Kuwait Dinar, Malaysian Ringgit, Mexican Peso, New Zealand Dollar, Norwegian Krone, Omani Rial, Philippine Peso, Polish Zloty, Qatar Rial, Romanian Leu, US Dollar, United Arab Emirates Dirham, UK Sterling, Ugandan Shilling, Turkish Lira, Thai Baht, Swiss Franc, Swedish Krona, Singapore Dollar, Saudi Riyal, Russian Ruble.
What is a Spot Contract?
A Spot Contract is a straightforward agreement to exchange one currency for another at the current market rate. It’s typically used for immediate transactions, settling within two business days.
What is a Forward Contract?
A Forward Contract allows you to fix a specific exchange rate for a future date, providing protection against potential currency fluctuations. It’s an excellent tool for budgeting and planning.
What is a Limit Order?
A Limit Order is an instruction to exchange currency at a specified rate or better. It’s useful when you have a target exchange rate in mind and want to capitalise on favorable market movements.
What is a Stop Loss Order?
A Stop Loss Order is a protective measure that allows you to set a minimum acceptable exchange rate. If the market rate falls to this level, your currency is automatically exchanged to limit potential losses.
Why do exchange rates fluctuate?
Exchange rates fluctuate due to various factors, including economic indicators, geopolitical events, and market sentiment. Your exchange rate is determined by prevailing market conditions at the time of your transaction.
How can you offer better rates?
We secure better rates through our strategic partnership with Currency Cloud, processing over $1 billion in currency transactions monthly. This grants us access to great exchange rates, enabling us to extend these cost savings directly to you.
What is an IBAN?
An IBAN (International Bank Account Number) is a standardised international identifier for individual bank accounts. It helps ensure accurate and smooth international transactions.
What is a BIC/SWIFT code?
A BIC (Bank Identifier Code) or SWIFT code is a unique identification code for a specific bank. It’s used in international transactions to identify the recipient bank and facilitate secure transfers.