Atlantic Money Transfer Service and Business Model

Atlantic Money Transfer Service is a convenient way to send and receive money across borders. It offers a range of services, including online money transfers, mobile payments, and cash pickups.

The company's business model is built around providing affordable and fast money transfer services to individuals and businesses. This is achieved through partnerships with local banks and financial institutions.

Atlantic Money Transfer Service allows users to send money to over 200 countries worldwide. The service is available 24/7, making it a reliable option for those who need to transfer money quickly.

The company's fees and exchange rates are competitive, with some transfers taking as little as a few minutes to process.

Atlantic Money received significant funding in 2022, securing $7.5M in seed funding from top venture capital firms.

This funding came in two phases and was backed by influential investors such as Kleiner Perkins, Index Ventures, and Ribbit, which has ties to Coinbase.

The investors involved in Atlantic Money's funding round include Kleiner Perkins, Index Ventures, Ribbit, Amplo, 20VC, Nordstar, Elefund, Susa Ventures, Anquan Wang, and Vladimir Tenev and Baiju Bhatt.

Atlantic Money's investors have a track record of supporting innovative fintech companies, which bodes well for the future of the company.

You're likely to feel sceptical and worried when sending large sums of money abroad, especially if it's your first time. Sending bank transfers in euros to pounds via Atlantic can be a nerve-wracking experience.

It's normal to feel anxious about the process, wondering if you've entered the correct account numbers and codes. Sometimes, the money can take longer to arrive than expected, which can add to your anxiety.

Customer services can make a big difference in reassuring you about the process, as one user found with Atlantic's customer services. They were great in providing reassurance and guidance.

Overall, it's essential to do your research and find a reliable service to help alleviate your concerns.

Atlantic Money received a significant boost in 2022 with seed funding of $7.5M over two phases.

This funding came from top-notch venture capital firms, including Kleiner Perkins, Index Ventures, Ribbit, Amplo, 20VC, Nordstar, Elefund, Susa Ventures, and others.

Some notable investors include Webull founder Anquan Wang and Robinhood founders Vladimir Tenev and Baiju Bhatt.

These investors have a proven track record of supporting innovative companies in the fintech space.

Atlantic Money operates on a fixed-fee model for international money transfers, which differs from the percentage-based fees often used by competitors.

This model offers a predictable cost for customers, allowing them to budget and plan their transfers more effectively.

Deel has made its ninth acquisition, acquiring U.K.-based international funds transfer company Atlantic Money for an undisclosed sum.

Deel is a payroll and compliance company that's been around since 2018, and it's valued at $12 billion.

The acquisition will help Deel strengthen its payments infrastructure in Europe and offer more fintech expertise.

Deel will leverage Atlantic Money's expertise to enhance its global payroll solutions, enabling businesses to send secure international payouts.

Deel's mission is to make running a global business as easy as running a local one, and this acquisition will help them achieve that goal.

Atlantic Money has moved over half a billion pounds for 10,000+ customers since its inception in 2020, helping them save "millions" in fees.

Here are some key facts about Atlantic Money:

Atlantic Money's service quality is truly impressive, with a mobile app that's a standout feature. The app's slick design and easy-to-understand interface make it a pleasure to use.

One notable benefit of Atlantic Money's service is its ability to save customers a significant amount of money on transaction fees. Paul and Andrea Dixon, for example, saved £2,200 by using Atlantic Money's services instead of their UK High Street Bank.

Atlantic Money's fast transfers are also a major advantage, allowing customers to quickly and efficiently send and receive money.

Atlantic Money's mobile app is a standout feature, with a slick design and easy-to-understand interface.

The app's fast transfers are a major advantage, making it a convenient option for sending money abroad.

Users have praised the app's speed and efficiency, with some even using it to transfer large sums of money, like the £2,200 saved by Paul and Andrea Dixon.

The app's user-friendly interface makes it accessible to a wide range of users, from those who are tech-savvy to those who are not.

In addition to its excellent app, Atlantic Money also offers a professional and prompt service, as demonstrated by the Dixons' experience with transferring money to a French bank account.

This level of service quality is a testament to Atlantic Money's commitment to providing a smooth and hassle-free experience for its customers.

Using the Atlantic Money mobile app is a convenient way to manage your money transfers. You can download the app from the App Store and it's calibrated for iPhones, but it'll also work on your iPad.

Signing up for an account is quick and easy, requiring only your full name and mobile number. No ID document is needed to sign up, but you will need to submit one if you want to raise the maximum sending limits.

The maximum sending limits are £850 every 30 days and £2,500 every 180 days. Here are the limits in a quick reference format:

Making a transfer is a straightforward process with clear prompts on the app. However, you can only pay for your transfer by making a bank transfer to the Atlantic Money bank account, so no credit or debit card payments are possible.

Your recipient can only receive funds by bank deposit, which is a bit of a limitation. But overall, the app is easy to use and navigate, even for those who are not tech-savvy.

Making an international transfer with Atlantic Money is a straightforward process. You'll need to download the app, which is the only way to make transfers at the moment.

The app guides you through each step, making it easy to follow along. You'll confirm your ID, which can be done simply by providing basic information such as your name, date of birth, and address.

To send larger sums, you'll need to upload photo ID. For really large transfers, you may need to provide additional information, like bank statements and the purpose of the transfer. This is to ensure Atlantic Money is doing its due diligence to prevent any suspicious activity.

You can get a real-time quote, which allows you to check how much your recipient will receive. This is a great feature, as it gives you complete transparency over the transfer process.

To add a recipient, you'll need their IBAN, name, and address. This information is essential for completing the transfer.

Once you've added your recipient, you can pay for the transfer. You can pay by manual bank transfer, which is an option available in the app.

The final step is to push the button and initiate the transfer. You can then sit back and track the progress of your transfer.

Atlantic Money offers a simple and affordable way to send money abroad, with fees that are hard to beat.

The platform charges a flat fee of £3 (or €3) on all international payments, making it an extremely affordable option, especially for larger transactions.

You can send up to £1m with Atlantic Money, but limits vary depending on where you're sending and what ID checks you've passed.

The maximum amount you can send is £2,500 in any 180-day period, but you can request a higher limit by providing additional security information and documentation.

There's no exchange rate margin on Atlantic Money, which means you get the best possible rate. However, if you need your money to arrive quickly, you can opt for the Express transfer service, which incurs a 0.05% commission.

Here's a breakdown of the fees and limits:

Please note that your recipient's bank may charge a fee when receiving the funds.

Atlantic Money has a strong reputation online, with a 4.1 out of 5 rating on Trustpilot based on 27 customer reviews.

The majority of users praise the service's app, customer service, and competitive exchange rates. However, some users have pointed out that Atlantic Money fixes exchange rates for 24 hours, whereas Wise locks in rates for 50+ hours.

A user named Lena shared her experience with Atlantic Money, highlighting the service's reliability and excellent exchange rates. She was able to transfer funds with an additional $200 compared to her regular bank, and appreciated the timely communication from Atlantic Money.

Atlantic Money is a licensed and authorized money transfer provider, registered with the National Bank of Belgium and the Financial Conduct Authority in the UK. This regulation ensures that the company maintains a minimum level of regulatory capital and undergoes periodic audits.

The service segregates customer accounts, keeping transferred funds separate from their bank accounts, which protects users in case of insolvency. However, the company's small size and short track record mean that it's still a relatively new player in the market.

Atlantic Money is available to residents of the United Kingdom (UK) and the European Union (EU). These regions offer a wide range of access to the service.

If you're a resident of the UK or EU, you can take advantage of Atlantic Money's bank-to-bank money transfers. This convenient service allows you to transfer funds to various countries.

Atlantic Money supports bank-to-bank money transfers to ten different currencies, including USD, GBP, EUR, CAD, AUD, PLN, DKK, SEK, INR, and NOK.