UK-based fintech Atlantic Money has expanded its remittance solution into three more European markets, France Italy, and Spain. Atlantic has also localized its app and website, making it available in French, Spanish, Italian, and German, and increased its sending limit from EUR 100,000 to EUR 1 million, intensifying pressure on higher cost competitors like Wise, PayPal, or Revolut.

For the first time in these countries, consumers can make international transfers for a flat, fixed fee of just EUR 3 at the current exchange rate for transfers up to EUR 1 million. How does Atlantic Money plans to gain market share Atlantic Money removes variable fees and drastically undercuts established providers, such as PayPal, Revolut, and Wise. Despite the cost of sending money internationally being largely fixed per transaction, these providers have a variable pricing model meaning the more you send, the more you pay.

As a result of its fixed fee model, Atlantic Money users are saving on average EUR 50 per transfer. With its fixed fee of GBP/EUR 3 for transfers all the way up to GBP / EUR 1 million at the current exchange rate, Atlantic Money is the suited solution for the estimated 1. 5 million cross-border workers in Europe, as well as frequent travellers or expats with overseas commitments such as tuition fees, holiday homes, and credit cards.

Its fixed rate enables users to save up to 99% compared to its competitors. Customers in France, Italy and Spain can send money from EUR into eight currencies including USD, EUR, AUD, CAD, SEK, NOK, DKK, and PLN, with new currency corridors and advanced product features being added continuously post-launch. The fixed fee money transfer provider has also doubled its sending limits within its tiers to make sending larger amounts easier.

Read more here. A European licence enables operations on the continent Atlantic Money secured its European licence to operate as a payment institution through the National Bank of Belgium back in June 2022 and has since launched in Ireland, Belgium, Germany, and Austria, enabling users to make fast, affordable transfers. Company officials stated that while their competitors continue to move into new areas of finance, neglecting their core products, they are laser-focused on one thing – getting people’s money from one currency and country to another as simply, efficiently, and affordably as possible.

They’re happy to bring fixed fee transfers to France, Italy, and Spain and look forward to saving people across Europe up to 99% on their money transfers. .