Very new on the remittance scene is Atlantic Money, as they were only founded in 2021 - launching this year in 2022. While they only offer bank transfers at the moment, their fixed fee structure and no exchange rate markup makes them worth a punt - and their App Store app has fantastic ratings so far. Here’s our review of Atlantic Money.
Category | Safety and trust | Functionality | Cost | Customer ratings |
Rating | 9 | 7 | 9 | 4 |
We’ve taken a closer look at Atlantic Money’s service so we can provide you with a breakdown of our ratings - so in this review, we’ll discuss safety and trust, customer ratings, accessibility, functionality and cost.
When dealing with any matters concerning finances, it’s vital to consider a company’s security credentials to ensure they’re authorised to handle your money. We’ll look at the following categories:
Authorisation | Atlantic Money is authorised and regulated to provide international money transfer services by the Financial Conduct Authority (FCA) - their firm number is 947491. They are also authorised and regulated by the National Bank of Belgium to provide an international money transfer service in the European Union. |
Security and safety | Atlantic Money adheres to a number of security and safety measures, including safeguarding, independent auditing, due diligence on banking and payment providers, maintaining a minimum level of capital at all times. |
Transparency | Atlantic Money are totally up front with all fees and charge no exchange rate margin |
Employing a range of advanced security measures and fully regulated and authorised by the Financial Conduct Authority, Atlantic Money proves to be a trustworthy brand - so we give them a 9/10.
Another important thing to consider is what you’ll be able to do with the app, and how good the company’s service is.
Transfer speeds | Standard transfers take two business days. Express transfers take two business days for Australia, one business day for the US, Canada, Denmark, Norway, Sweden, and Poland, and minutes for UK and Eurozone transfers |
Transfer limits | Depends on destination but maximum is £1 million. £2,500 in a given 180-day period without verification, then £50,000 in a 180-day period. |
Transfer methods | Bank transfer only |
Payment methods | Bank transfer only |
Currencies | 9 currencies: GBP, EUR, USD, CAD, AUD, PLN, SEK, NOK, DKK |
Countries/corridors | 30+ |
Depending on where you want to send money, their transfer speeds are pretty good - and the transfer limits aren’t too strenuous once you’ve verified your identity. However they are limited in that they only offer bank transfers and support for nine currencies - we score them 7/10.
The cost of your transfer is important and can depend on a range of factors - but with providers you should look out for transfer fees and exchange rate markups.
Transfer fees | £3 or €3 flat fee. 0.05% commission on Express transfers for delivery up to two days faster |
Exchange rate markups | No exchange rate markup at all |
A transparent fee structure and no exchange rate markups make Atlantic Money stand out in this respect - with low fixed fees offering affordability and reliability especially for bigger transfers. We give them 9/10.
It’s also important to factor in other users’ experiences when using Atlantic Money - here we’ve looked at customer ratings and reviews.
Google Play Store | Atlantic Money is not currently available on the Google Play Store |
Apple App Store | As Atlantic Money is a relatively new company, there are only 29 ratings on the UK App Store and 6 ratings on the US App Store. However the average score is high, at 4.6 on the UK store and 4.8 on the US store, indicating largely positive feedback. Many of the better reviews praise the app for being easy to use and offering great rates, while there was some criticism of the transfer times |
Trustpilot | There are only two Trustpilot reviews for Atlantic Money, one five-stars and one one-star. The negative review claimed they were charged for a failed transfer but they replied to the review stating that the bank had charged the customer instead. |
Unfortunately with only a handful of reviews across different platforms it’s not easy to get a reliable read just yet. We give them a 4/10 but this could change as more people start using the app.
To review our money transfer providers we consult our team of experts and analyse the above categories to produce ratings of quality. We conduct thorough research into the companies we review to make sure you get the full picture.
Category | Atlantic Money | Wise | WorldRemit |
Safety and trust | 9 | 10 | 8 |
Functionality | 7 | 9 | 7 |
Cost | 9 | 8 | 5 |
Customer ratings | 4 | 9 | 9 |
Find out more | Read our Wise review | Read our WorldRemit review |
Amount | €500 | €1,000 | €5,000 |
Amount received | $518.75 | $1,040.62 | $5,215.64 |
Transfer speeds | 3-6 hours by bank transfer | 3-6 hours by bank transfer | 3-6 hours by bank transfer |
Transfer fees | €3.00 | €3.00 | €3.00 |
Exchange rate | 1.04375 | 1.04375 | 1.04375 |
Amount | €500 | €1,000 | €5,000 |
Amount received | £430.87 | £864.33 | £4,332.06 |
Transfer speeds | 3-6 hours by bank transfer | 3-6 hours by bank transfer | 3-6 hours by bank transfer |
Transfer fees | €3.00 | €3.00 | €3.00 |
Exchange rate | 0.85549 | 0.85549 | 0.85549 |
Amount | €500 | €1,000 | €5,000 |
Amount received | $698.10 | $1,400.41 | $7,018.93 |
Transfer speeds | 3-6 hours by bank transfer | 3-6 hours by bank transfer | 3-6 hours by bank transfer |
Transfer fees | €3.00 | €3.00 | €3.00 |
Exchange rate | 1.40463 | 1.40463 | 1.40463 |
“While Atlantic Money might be new on the scene, they do provide a great and affordable service that’s appreciated by many of the customers that have left reviews. You can send money relatively quickly between the UK and the Eurozone, as well as across the Atlantic to the US and Canada, but they’re limited in what they provide at the moment. As their service grows they’ll be one to watch in the future”
MoneyTransfers.com Founder, Jonathan Merry
Download the Atlantic Money app from the App Store
Sign up for an account in minutes with your email address and phone number
Add your photo ID to verify your identity for large transfers (over £5,000) or any other information required for very large transfers (in tens of thousands)
Set up your transfer by adding details of your recipient and the money to be sent
Pay for your transfer through your bank account and confirm to send money
You can only use Atlantic Money to make transfers on their iOS app, it is not available for Android or on a web browser.
There is a maximum transfer limit of £1 million with Atlantic Money, but it will depend on where you are sending money to. When first opening an account you can send up to £2,500 in an 180-day period. After verifying your ID you’ll be able to send up to £50,000 in an 180-day period. To send any more you’ll likely need to provide extra documents related to your money transfer.
The time it will take to send money with Atlantic Money depends on where you send money to and which option you choose. A standard transfer will take two business days wherever you send, but an express transfer will reduce this to one business day for transfers to the US, Canada, Denmark, Norway, Sweden, and Poland. An express transfer to the UK and countries in the Eurozone will take minutes.
Atlantic Money charge a flat £3 or €3 fee for all transfers, and a 0.05% commission on express transfers.
With Atlantic Money you’ll be able to send money to over 30 countries including the UK, the US and most of Europe.
You can send money from GBP and EUR to:
Australian dollars (AUD)
British pounds (GBP)
Danish krone (DKK)
Euro (EUR)
Norwegian krone (NOK)
Polish zloty (PLN)
Swedish króna (SEK)
US dollar (USD)
Atlantic Money only offers international money transfers.
You do not need an Atlantic Money account to receive money, as funds are deposited directly into bank accounts.
You will need a bank account to join Atlantic Money as they do not facilitate any other transfer or payment methods.
Atlantic Money is available in the UK, the US and most of Europe.
To send money abroad with Atlantic Money, you will need:
Your details, including your full name and address
Your bank details
Your recipient’s details exactly as they appear on their bank account
The details of your transfer, including the amount and currency
Proof of ID, such as a passport or driving licence
Atlantic Money is not a bank, it is a money transfer service provider.
It is perfectly legal to use Atlantic Money to send money abroad.
Atlantic Money are safe and secure, authorised by the Financial Conduct Authority and the National Bank of Belgium.
Atlantic Money are owned by Atlantic Money Ltd, company number 13057810.