Atlantic Money Launches Desktop Version of Fixed Fee Currency Transfer App

Atlantic Money launches a desktop version of its fixed-fee currency transfer app, expanding its service offerings after surpassing £400 million in transaction volume since July 2022.

UK fintech Atlantic Money has unveiled a desktop version of its fixed-fee currency transfer app, following an impressive milestone of over £400 million in total transaction volume since its launch in July 2022.

Founded by two former Robinhood employees, Atlantic Money emerged from stealth in March 2022 with a mission to challenge established players like Wise by offering a more cost-effective solution for high-value transactions.

Atlantic Money differentiates itself by charging a flat fixed fee of £3 for transfers up to £1 million, using the live mid-market currency rate. This model contrasts with the fixed percentage rates charged by competitors like Wise, which Atlantic Money argues unfairly penalize customers with progressive fees for costs that do not scale with transaction size.

Currently active in 32 countries, Atlantic Money serves 10,000 customers with an average annual transfer volume of £31,700, which is three times higher than that of Wise.

Neeraj Baid, CEO and co-founder of Atlantic Money, commented on the new desktop platform: “While our sleek mobile app provides an incredibly easy transfer experience for our users, the powerful new web platform positions Atlantic Money to better serve our customers’ high-volume transaction needs—from freelancers and expatriates moving larger sums overseas, to businesses requiring robust high-volume transfer management capabilities.”

The desktop version is expected to enhance the service’s appeal to a broader audience, including businesses and individuals managing substantial cross-border transfers, providing a comprehensive and user-friendly solution for high-volume currency transactions.