Atlantic Money expects to save its average customer around 75% annually when compared to competitor Wise. The company is onboarding UK-based customers who signed up to access the service early when the business came out of stealth in March 2022.
These customers will be able to transfer up to GBP 1 million for a GBP 3 fixed fee and zero FX mark-up using the Atlantic Money app. Anyone who wants to join the list now can register via the Atlantic Money website and will receive access in the coming future. Soon, the app will also be available to everyone else in the UK.
Atlantic Money undercuts the pricing model of incumbent providers. For example, someone sending GBP 3500 to EUR would see at least 75% savings on fees, with larger transfers up to 99% cheaper, as per the press release. The fintech is focused on making money transfers cheaper and easier for active senders.
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