Launched in 2022, Atlantic Money is a new breed of money transfer company which is specifically trying to undercut the big players like Wise. They’re a second-generation disruptor within an industry that’s already undergone major shifts since the arrival of Fintech.

Atlantic Money’s basic premise is that it charges a flat fee of just £3 per transfer, regardless of the size of the transaction. This unique approach makes it one of the most cost-effective options in the money transfer market, offering a pricing model that they claim is up to 99% more economical than some of its competitors.

But is that true?

In my detailed review, I aim to provide a full analysis of Atlantic Money Transfers as it stands in 2024. I’ve explored everything from their user interface and functionality to fee structures and transfer speeds. Additionally, I will walk you through their security and compliance, the quality of their customer service, and the overall user experience.

As with all my reviews, I want to provide you with a comprehensive understanding of Atlantic Money Transfers’ strengths and weaknesses.

MORE Read our full article on  The Best Money Transfer Services

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Atlantic Money Review: My Verdict

Atlantic Money is an exciting addition to the currency market, with a fresh approach that has clearly rattled the folks from Wise since they recently removed them from their various currency comparison websites.

Their model is a good one, and assuming you’re transferring over £250 or so, there are notable savings to be had versus many other firms who charge a percentage fee. The fact that you can send up to £1 million sterling for a fee of just £3 is quite astonishing.

I found it to be a convenient, efficient money exchange process via their well-designed Apple or Android apps, though there’s no web portal yet.

The chief downsides to Atlantic are that it only supports 10 currencies just yet, although this will likely change fairly rapidly.

Also, because they’re competing directly with fully automated services like Wise, there are no account managers or the ability to set rate triggers or limits. They do have customer service via Whats APP, which you can access from the APP but that doesn’t beat the close hand-holding and account management you’d get from Torfx.

The other thing is that standard delivery is about 2 days, which is by no means the fastest in the industry.

That said, if you can live with these limitations, Atlantic is doing something very exciting. They’re a great way to send money internationally at hyper-competitive rates. I imagine we’ll see many other players entering the FX space with a fixed-fee offering in the months and years to come.

One final thing to note is that, despite the claims on their site, they are not quite as radically cheaper than everyone else as they make out. I made a great many tests with other FX companies and noticed that Wise was occasionally cheaper, as were TransferGo and Currency Fair.

Who is Atlantic Money?

Atlantic Money was founded in 2020 by Neeraj Baid and Patrick Kavanagh, two American expatriates living in London.

Both former employees of the trading firm Robin Hood, Baid and Kavanagh now operate out of headquarters in London. The company has garnered the attention of prominent investors, including Ribbit Capital, Index Ventures, Kleiner Perkins, 20VC, Amplo, Elefund and former Lazada executive Martell Hardenberg.

The company’s future plans are to expand its low-cost money transfer service internationally, leveraging its recently secured EU license to extend its reach into Europe, starting with Belgium, Germany, Austria, and Ireland.

Is Atlantic Money Safe?

Atlantic is a safe and regulated firm.

Atlantic is regulated by the FCA in the UK and by the National Bank of Belgium as a payment institution in Belgium. It adheres to safeguarding rules and regulations, keeping the funds designated for customer transactions in separate bank accounts to its own funds.

Atlantic Money also implements several additional measures to minimize the risk of customer funds being compromised:

  1. It performs due diligence on the creditworthiness and reliability of banking, payment, and other crucial providers.
  2. It maintains a minimum level of regulatory capital on its balance sheet.
  3. It enforces strict controls over access to company bank accounts.
  4. Secure records of every transaction are kept.
  5. Periodic independent audits are conducted on processes and procedures.

It’s important to note that funds held in an Atlantic Money payment account are not covered by the Financial Services Compensation Scheme (FSCS) or any other similar protection scheme.

If Atlantic Money were to go out of business, an insolvency practitioner would be appointed to manage the return of safeguarded funds to customers, with their costs being deducted from the company’s remaining assets.

Pros and Cons of Atlantic Money


  • Low fees: Atlantic Money charges a flat fee of £3 for transfers up to £1 million, regardless of the amount of money being sent.
  • Real exchange rates: Atlantic Money uses the real exchange rate, meaning that customers get the best possible deal on their transfers.
  • Transparent: Atlantic Money is upfront about its fees and exchange rates. You will always know exactly how much money you are sending and receiving.


  • Limited availability: Atlantic Money is currently only available in the UK and Europe.
  • Transfer speed: Atlantic Money’s standard transfer speed is 2 business days. If you need your transfer to arrive more quickly, you will need to pay an additional fee.
  • App-based: Atlantic Money is an app-based service. This means that you will need to have a smartphone or tablet to use the service.
  • No FX tools: Atlantic Money does not offer any FX tools, such as rate alerts or locking.

Where Is Atlantic Money Available?

Atlantic Money is available to residents of the United Kingdom (UK) and the European Union (EU). It supports bank-to-bank money transfers from these two regions to the following nine currencies:

  • United States Dollar (USD)
  • British Pound Sterling (GBP)
  • Euro (EUR)
  • Canadian Dollar (CAD)
  • Australian Dollar (AUD)
  • Polish Zloty (PLN)
  • Danish Krone (DKK)
  • Swedish Krona (SEK)
  • Norwegian Krone (NOK)

Atlantic Money plans to expand its availability to other countries in the future.

Costs & Pricing

Atlantic charges a flat £3 for any transfer, up to 1 million. That really is it! I had a long conversation with them about this; they are not marking up the exchange rate or making additional money that they don’t disclose.

If you choose ‘Express’ delivery, you will pay a further tiny 0.1%.

If you’re sending over the weekend, you have 2 options:

  • next available rate – which is free
  • last known rate – comes with a 0.1% fee

What Exchange Rates Do Atlantic Money Use?

Atlantic Money uses the mid-market exchange rate for all transfers, ensuring customers receive a rate that is very close to the wholesale rate they obtain from financial institutions.

This approach means the exchange rate offered is highly competitive, essentially providing customers with the best available rate at any given moment. Unlike many other companies, Atlantic Money does not profit from adding a margin or spread to the exchange rate.

How to Use Atlantic Money?

The Atlantic app works fairly, though currently, app registration is restricted to the UK and the EU countries.

Here’s how to send money:

(1) Download the app from either Google Play or the App Store.

(2) Register for an account by inputting your name, date of birth, and address and entering the code Atlantic Money texts you. 

(3) Get a real-time quote

(4) Input your recipient’s name, address and IBAN (the number that identifies their account).

(5) Choose a delivery speed: standard takes 2 business days, Express comes with an additional 0.1% delivery fee applied.

(6) Check your transfer and click confirm

(7) Pay for the transfer. (NB, you can only send via local bank transfer, NOT wire transfer. At this point, you’l be given a time window by which your transfer must arrive or you may encounter an altered exchange rate.

How long does an international transfer with Atlantic Money take?

The delivery time for an international transfer with Atlantic Money depends on two factors:

  • The currency you are sending: Some currencies, such as EUR and GBP, are delivered instantly. Others, such as AUD, may take 2 business days to be delivered.
  • The delivery speed you choose: You can choose between standard delivery and express delivery. Standard delivery takes 2 business days to convert your currency and then the currency delivery times above apply. Express delivery is the fastest way to transfer money with Atlantic Money but is subject to a small fee.

Here is a table of the delivery times for each currency, assuming you choose standard delivery:

CurrencyDelivery time
Australian dollar (AUD)2 business days
British pound (GBP)Instant
Canadian dollar (CAD)1 business day
Danish krone (DKK)1 business day
Euro (EUR)Instant
Norwegian krone (NOK)1 business day
Polish zloty (PLN)1 business day
Swedish króna (SEK)1 business day
US dollar (USD)1 business day

Top tips for a speedy transfer:

  • Fund your transfer by 20:30 on weekdays: Transfers funded after this may not be processed until the next business day.
  • Transfers funded at the weekend will begin processing on Monday: Unless the destination currency supports instant delivery and you select express.
  • National bank holidays may affect delivery times: Check the delivery times for the currency you are sending to see if there are any bank holidays in the destination country that could affect the delivery time.

What’s the Atlantic Money app like?

The app is simple and easy to use; I tested it on Android and Apple over several weeks and had nothing but a positive experience.

The UX is clear with swift, frictionless transitions, and all of the salient information clearly presented.

The Android app currently has a 4.9-star rating on Google Play, and the IOS app has 4.8 stars on the Apple store.

The few negative reviews I’ve encountered stem from users whose banks have flagged incoming/outgoing transfers. This is likely due to Atlantic being a relatively new player on the scene, and these hurdles will likely get ironed out as its gains mass adoptions.

What are the Customer Reviews like for Atlantic Money?

Atlantic Money currently has a 3.9-star average out of 5 on Trustpilot based on 109 reviews.This gives it a rating of ‘great’

58% give Atlantic 5 stars, praising its ‘low fees’, ‘easy and clear interface’ and savings of ‘hundreds of pounds.’

While 19% give Atlantic only 1 star, many of these seem preoccupied with not having received a referral bonus,so it doesn’t seem indicative of genuine issues with the service or app. Overall, I would expect this rating to increase over time as these issues get levelled out.

Atlantic Money vs Wise

In the quest for the very cheapest money transfer out there, two obvious competitors will be Atlantic Money vs Wise.

Atlantic charges a set £3 fee whereas Wise advertise ‘From 0.43%’, depending on which currency you choose.

In most cases, my analysis shows Atlantic as being cheaper.

At the time of writing, sending £1000 to Denmark would cost £4.38 with Wise, as opposed to £3 with Atlantic.

Sending £1000 to Poland would cost £6.27 with Wise, besides £3 at Atlantic.

However, if you’re sending £200, it is only £1.50 with Wise, showing that it’s really the higher numbers where Atlantic comes into its own.