Atlantic Money granted license in Europe

Tuesday 28 June 2022 11:25 CET | News

UK-based fintech Atlantic Money has secured a license as a payment institution granted by the National Bank of Belgium (NBB), which allows it to legally provide its services across the European Union.

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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Keywords: expansion, fintech, cross-border payments, cross-border ecommerce, money transfer, transactions , online payments, FX , regulation, banking license, central bank
Categories: Payments & Commerce
Companies: Atlantic Money, National Bank of Belgium (NBB)
Countries: Europe
This article is part of category

Payments & Commerce

Atlantic Money


National Bank of Belgium (NBB)

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