Atlantic Money plans to gradually announce its launching across the EU starting with Belgium, followed by Germany and Austria. The news comes a week after the fintech started rolling out its product for the first time to early sign-ups in the UK.
Atlantic Money allows EU resident customers to send money to major currency corridors through its mobile app and boost cross-border transfers and payments for a flat fixed-fee of GBP 3, for transfers up to GBP 1 million, with 0% FX commission.
Although financial institutions move unlimited money around the world with zero effective costs, retail businesses do not benefit from the same perks, being charged progressive fees and below-the-market exchange rates by the same cost-effective providers. Atlantic Money aims to change the industry’s standards by providing a flat fixed fee for all transfers, encouraging people to get more from their cross-border payments.
The company is currently in closed beta and will roll out to customers across Europe throughout 2022.
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