Atlantic Money is a money transfer provider that utilizes direct connections to interbank exchanges to offer international transactions at a flat £3 fee with no markup on the live exchange rate. This approach enables users to send up to £1 million across ten currencies, significantly reducing costs compared to traditional money transfer services.
Funding
$3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional money transfer services often impose substantial fees and hidden markups on exchange rates, making international transactions expensive and opaque. These costs can significantly erode the value of remittances and cross-border payments, especially for larger amounts.
Solution
Atlantic Money offers a money transfer service that leverages direct connections to interbank exchanges to provide international transactions at a flat £3 fee, without any markup on the live exchange rate. This model allows users to send up to £1 million across ten currencies, resulting in savings of up to 99% compared to conventional money transfer providers. Funds are delivered directly to the recipient's bank account, with standard delivery taking a few days and an express option available for instant transfers.
Target Audience
Atlantic Money primarily targets individuals and businesses who regularly send large sums of money internationally and are seeking a transparent, low-cost alternative to traditional money transfer services.
Features
- Flat £3 fee for all transfers, regardless of the amount (up to £1 million)
- Access to live interbank exchange rates without any markup
- Support for transfers across ten currencies, including USD and EUR
- Direct delivery to recipient's bank account
- Standard and express delivery options
- Authorised as a payment institution by the FCA, with safeguarded accounts for fund protection
- Mobile app for convenient transfers