Atlantic Money’s Forex Service Is Now Available In The EU

Now, you can use the money exchange service in 29 countries and on Android.

Seven months after it went live, Atlantic Money has finished rolling out in Europe and is now available in 29 countries.

The money transfer service started by former employees of Robinhood to compete with Wise and PayPal lets users send up to £1 million for a flat fee of £3.

It was first available in the UK in March of last year. In August, it became available in Euros and began to spread across the EU.

After getting its EU payment license from the National Bank of Belgium in June, it launched locally in France, Italy, and Spain in December. It is now launching its Android app along with the rest of its pan-European launch.

“Over 50 per cent of our visitors had requested Android so we’re happy to now be able to provide it,” Atlantic Money co-founder Neeraj Baid said.

“We have ambitious plans in terms of currency corridors and regional expansion for the year ahead and are excited at the prospect of extending both the benefits and the reach of our product.”

The fx fintech recently called out its competitor Wise for removing Atlantic Money from its price comparison tool, which it said was a “breach of its commitment to transparency.”

When sending small amounts of money, companies like Wise or Revolut are often cheaper than Atlantic Money, which charges a flat fee of £3.

But once the transfer amount goes over £1000, most of the time Atlantic Money is the cheaper option. It does charge extra fees for express transfers (0.1 percent of the amount transferred) and sometimes for transactions on the weekend.

Wise recently took Atlantic Money off of its price comparison tool because, even though it was regulated by the FCA, the company wasn’t trustworthy enough.

It also took it off the outside comparison sites it runs.

“People deserve to have a fixed price on their international transfers instead of paying more the more they send,” Baid said at the time.