iFAST Global Bank - anyone with experience of this UK regulated bank?

HHUK

Issues using the card at Morrisons today 1 May.

Spent the princely sum of £5.55 and attempted to pay using chip and PIN.

Initially the card reader screen indicated the transaction had been accepted, but then the message suddenly changed to 'Payment Declined'.

Called a member of staff who cleared it and asked me to try again. So I did, but this time it was declined immediately and I ended up using a different card.

When I checked in the iFast App later, only one of the two transactions was showing as declined, so I raised a dispute.

I subsequently looked at the App again (without logging on) and a blue banner appeared saying Card services were briefly unavailable from 14:16 to 15:05 UKT due to a connection issue. Services are now back to normal.  I was at the checkout at around 14:45 and luckily I kept the 2 receipts showing the declined transactions.

EDIT There is another blue banner on the app today Friday 2 May advising that Card services were briefly unavailable from 09:45 to 10:49 UKT on 2 May due to a connection issue. Services are now back to normal. 

I have now emailed copies of the two Morrisons receipts to iFast and await their response with interest.

HHUK

As one door closes, another opens - eventually.
iFast's new offer is 2% cashback on overseas spending of up to £1,250 per month on the debit card until 31 October. So maximum attainable cashback of 3 x £25. Overseas spending includes online payments to merchants based outside UK

https://www.ifastgb.com/en/home?campaignCode=Meta_OCKVs_20250731&fbclid=IwY2xjawL6_tpleHRuA2FlbQIxMQBicmlkETFnb2pYM3A2ZDFTWU9EUzVmAR6aYIIkbUC0Jz-LdFZ9WoCFOaDHVfIy7igehvCApDwRFrwlBAYLv8wkYe-8oA_aem_8p9F0jkxlowszk99SBaeuQ

SparkandShine

Yes I also saw the ifast 2% cashback for overseas payment, it applies to online payment as well, though last until 31 Oct only

lon_don

Has anyone found a way to top up/credit  iFast EUR account, with EUR (i.e. direct transfer EUR to EUR without going via GBP+fx exchange), for free? I tried to transfer from Wise but there is a 5.76€ fee (not surprising since IFast is not SEPA so uses SWIFT transfer). I tried from an EU EUR bank account but the transfer got rejected. I don't see an option in the iFast app to top up using an EUR debit card. So I guess it's not possible (and Revolut is a superior multi currency account).

SparkandShine

lon_don said:

Has anyone found a way to top up/credit  iFast EUR account, with EUR (i.e. direct transfer EUR to EUR without going via GBP+fx exchange), for free? I tried to transfer from Wise but there is a 5.76€ fee (not surprising since IFast is not SEPA so uses SWIFT transfer). I tried from an EU EUR bank account but the transfer got rejected. I don't see an option in the iFast app to top up using an EUR debit card. So I guess it's not possible (and Revolut is a superior multi currency account).

I know ifast has enabled SEPA to send EUR out earlier, but they haven't enabled for funding in yet that might be the issue as SEPA is free of charge. I also used Wise for quite some time, and I just did the fx transfer to send EUR/HKD into ifast (though there is fx cost using Wise but i think it's still bearable for small value)

SparkandShine

Just noticed ifast seems to have brought back their cashback thing for December. I only spotted it today from email and it runs until 31 Dec. This time is 1.5%, check their website www.ifastgb.com for details

HHUK

SparkandShine said:

Just noticed ifast seems to have brought back their cashback thing for December. I only spotted it today from email and it runs until 31 Dec. This time is 1.5%, check their website www.ifastgb.com for details

Yes just noticed this offer advertised on Facebook today. Have been getting 2% on my HSBC credit card, but think I've reached the maximum on that now so may as well revert to iFast until the end of the month. Applies to maximum expenditure of £1500 = £22.50 cashback:

https://www.ifastgb.com/en/service/debit-card

HHUK

Have just seen lFast Global Bank's latest offers:

£100 for having salary (or any Direct Credit) paid into your iFast Global Bank account by BACS - once by 30/04/2026 and at least three more times by 30/06/3026 (at least that's how I read it).

An additional £100 also available for referring three friends who open an iFast Global Bank account by 30/04/2025, provided they also switch their salary (or any Direct Credit) to iFast Global Bank account by BACS and receive at least one such Direct Credit into their accounts.

https://www.ifastgb.com/en/article-details/352040/Power-Up-Your-Payday-Get-Up-to-200-by-Switching-Your-Salary-to-iFAST-GB--Referring-Friends

Lens

Tempted to go for this offer as it seem easy enough way to make £100.

Instead of changing my salary over which I don't really want to do, I'm wondering about withdrawing funds from Topcashback to meet the BACS requirement. According to the FAQ this is done via BACS. Do we think that this will work, or should I simply just change my salary for a few months?

ceepan

https://forums.moneysavingexpert.com/discussion/comment/81889446#Comment_81889446

I have seen discussions on this elsewhere and there seemed to be disagreement on whether Top cashback was BACS or not. The safest thing to do would be to change your salary. I have done that with mine in time for the February payroll so should meet the conditions for the £100 at the end of April.