iBanFirst vs Modulr: what each publishes
As of October 17, 2026, we hold no rule from iBanFirst or Modulr on the 7 industries we track; below, side by side: where each takes companies from, its fees, its terms on closing accounts and its licence.
Not a ranking: the two names are in alphabetical order. The free check applies every provider’s rules to your own answers.
Where it takes companies from
iBanFirst
- United Kingdom
- EU / EEA (western & northern, plus Spain, Italy, Portugal)
- EU / EEA (Baltics, central & eastern, plus Croatia, Greece, Cyprus, Malta)
The regions its own documents name, read on October 9, 2026
Modulr
- United Kingdom
- EU / EEA (western & northern, plus Spain, Italy, Portugal)
- EU / EEA (Baltics, central & eastern, plus Croatia, Greece, Cyprus, Malta)
The regions its own documents name, read on October 9, 2026
Policy by industry
| Industry | iBanFirst | Modulr |
|---|---|---|
| Crypto | No published rule | No published rule |
| iGaming | No published rule | No published rule |
| Adult | No published rule | No published rule |
| Unlicensed financial services | No published rule | No published rule |
| AI and SaaS | No published rule | No published rule |
| Forex and CFD | No published rule | No published rule |
| Marketplace | No published rule | No published rule |
Where owners must live
iBanFirst
No published rule
Modulr
No published rule
Rules about countries
iBanFirst
No published rule
Modulr
Use of Modulr’s services for any dealings, engagement, or sale of goods/services directly or indirectly with the following are prohibited: … Jurisdictions Modulr has deemed as prohibited, including but not limited to - Afghanistan, Belarus, (Democratic Republic of) Congo, Cuba, Haiti, (Islamic Republic of) Iran, Iraq, Lebanon, Libya, Myanmar, North Korea, Russian Federation, Somalia, South Sudan, Sudan, Syria, Yemen.
Afghanistan, Belarus, Cuba, DR Congo, Haiti, Iran, Iraq, Lebanon, Libya, Myanmar, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, Yemen
Fees
iBanFirst
| Plan | Account opening | Monthly | Checked |
|---|---|---|---|
| iBanFirst account (Europe except Luxembourg) | Free to open ('Opening fee Free') | None ('Maintenance fees Free'); these prices apply to companies making at least EUR 200,000 of foreign exchange transactions a year, below that a fee on incoming payments may be charged | · Source |
| iBanFirst Limited account (UK) | Free to open ('Opening fees Free') | None ('Maintenance fees Free'); an account is for companies making at least GBP 50k of foreign exchange payments a year | · Source |
| iBanFirst account (Luxembourg) | Not stated | EUR 2,500 a year for each account, as an annual fee ('Price by account'); no monthly fee is listed | · Source |
Modulr
All 9 fee lines, by plan and country
| Plan | Account opening | Monthly | Checked |
|---|---|---|---|
| Bundle (Accounts Payable, Spend Management and Payroll Payments) Bronze | Not stated | GBP 30.00 | · Source |
| Bundle Silver | Not stated | GBP 110.00 | · Source |
| Bundle Platinum | Not stated | GBP 500.00 | · Source |
| Accounts Payable & Spend Management Bronze | Not stated | GBP 20.00 | · Source |
| Accounts Payable & Spend Management Silver | Not stated | GBP 75.00 | · Source |
| Accounts Payable & Spend Management Platinum | Not stated | GBP 320.00 | · Source |
| Payroll Payments Bronze | Not stated | GBP 16.25 | · Source |
| Payroll Payments Silver | Not stated | GBP 67.20 | · Source |
| Payroll Payments Platinum | Not stated | GBP 300.00 | · Source |
Closing an account
iBanFirst
We may give you two (2) months' notice in writing that your status as a Client has been terminated, but these Terms shall continue to apply to any contract or Trade then in place.
Modulr
11.1 We can terminate your Account at any time if we give at least three (3) months’ notice and transfer any Available Balance at the time to your nominated bank account without a charge.
Licence
| Licensee | iBanFirst | Modulr |
|---|---|---|
| Licensee | iBanFirst S.A. · payment institution authorised by the National Bank of Belgium · iBanFirst Ltd · EMI authorised by the FCA (FRN 1001629) | Modulr FS Limited · electronic money institution authorised by the FCA (FRN 900573) · Modulr Finance B.V. · electronic money institution authorised by De Nederlandsche Bank (R182870) |
| Regulator | National Bank of Belgium / FCA · | FCA / DNB · |