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Ebury starts issuing its own IBANs in Luxembourg to support the alternative fund management industry

( 2 min read )

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13 June 2024

Written by
Ebury

Key points

  • Ebury provides transactional IBAN accounts to clients in the alternative fund management industry locally in key jurisdictions including the Netherlands, Singapore, UAE, Hong Kong, Ireland and Luxembourg.
  • Depending on the jurisdiction, Ebury either issues its own IBANs or leverages infrastructure provided by international banks to provide IBANs.
  • Issuing its own IBANs enables Ebury to reduce the number of financial institutions involved in payments and reduce the frictions related to the number of institutions involved.
  • After issuing Ebury IBANs in the Netherlands, France, Belgium, Spain, and the UK Ebury is launching the capability of issuing Ebury IBANs in Luxembourg. 
  • Ebury’s Luxembourg branch will issue IBANs using the BIC EBPBLUL2.
  • In addition to reducing friction in payments, the launch will enable Ebury to offer Luxembourg IBANs in more currencies (25 currencies).

Ebury Institutional Solutions account offering

Typical investment vehicles contain elements that lead to increased complexity (i.e. cross jurisdiction, multi-layered) and increase the time and resources required for traditional banks to onboard and monitor. The vehicles often have low transactionality and limited opportunities to cross-sell other banking services. As a result, it can be challenging for players in the alternative fund management industry to set up accounts for their investment vehicles. 

Global presence

Having a global presence with institutional teams in 11 key jurisdictions, dedicated institutional onboarding, client servicing teams and technology, Ebury has the ability to service the space effectively. 

Onboarding efficiency

Ebury has optimised the account opening process for the alternative fund management industry and is able to offer local transactional accounts in key fund jurisdictions (IBAN accounts in the Netherlands, Singapore, UAE, Hong Kong, Ireland and Luxembourg) and is able to onboard clients both onshore and offshore.

Transactional accounts

The local transactional accounts offered by Ebury allow investment vehicles to transact locally with local IBAN details in their own name. In some jurisdictions such as the Netherlands and the UK, Ebury generates its own IBANs, enabling the optimisation of payment routing and minimising the complexities associated with cross-border transactions.  In other jurisdictions Ebury leverages the infrastructure provided by international banks to provide transactional IBANs to clients.

Let’s start a conversation

Get in touch with our experts to discuss the needs of your fund and how Ebury can help you. You can also visit our page to learn more about our solution.

Disclaimer

  • The information provided herein is general in nature and should not be construed as financial or investment advice. The information provided here is not legally binding.
  • The information, data or views expressed here is for the exclusive use of the recipient and is subject to changes without any notice. You may ask the support team or your dedicated relationship manager to provide additional information regarding Ebury Partners UK Ltd products. 
  • For more details, please refer to our legal and privacy notice.

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