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We weren't aware of this, actually. Did our initial launch like this as well one year ago to get decent feedback. Noted for the future, thank you!

I can't change my old profile name, but I have added some context in my "About".

We don't offer USD pay-ins atm but we are working on them.

We don't do same currency transfers.

There is not "the one" exchange rate. But ours matches with Google or Wise and we never make any hidden profit on it.

Compare for yourself: https://atlantic.money/wise

thanks!

Flat fixed fee and the current exchange rate. Compare against Wise for better understanding: https://atlantic.money/wise

We are actually working on it.

We are licenced and regulated by the FCA in the UK and the NBB in the EU – two trusted financial authorities that also regulate Wise. We therefore have to meet the expected high standards both authorities require from us, especially in terms of KYC&AML.

When you change an entire sector, it is always met with a lot of scepticism at first. But 99% is nothing but the truth, especially since Wise and Revolut increased their prices for biz transfers. Check out our Wise comparison we created to demonstrate the difference: https://atlantic.money/wise

Further, we are profitable on every transfer with Atlantic Money. Our whole infrastructure is built on a different concept, which is why Wise and Co. also cannot offer transfers for the same price without losing it all.

To give you a proof of our work: We transferred £160m ($200m) in our first year for private users, 16x what Wise sent back then.

You got it right.

Web app is in the making!

Web app is in the making!

Thank you. Happy that you are happy (with one exception). And the good news: The banks have now understood who we are.

Thank you for the feedback, much appreciated and will be considered!

Please note that our web app is in the making. So soon this won't be an issue anymore.

To prevent our users to "get caught up in some KYC nightmare" we – in contrast to Wise and Revolut – only allow your transfer after we checked and approved your documents. This minimises the risk of holding your money.

Cheers

When you change an entire sector, it is always met with a lot of scepticism at first. But 99% is nothing but the truth, especially since Wise and Revolut increased their prices for biz transfers. Check out our Wise comparison we created to demonstrate the difference: https://atlantic.money/wise

Further, we are profitable with Atlantic Money on every transfer. Our whole infrastructure is built on a different concept, which is why Wise and Co. also cannot offer transfers for the same price without losing it all.

To give you a proof of our work: We transferred £160m ($200m) in our first year for private users, 16x what Wise sent back then.

Thank you for your feedback, will be considered! Web app is in the making, so we are happy to welcome you soon on board.

And say no more about the Wise comparison: https://atlantic.money/wise

We hold licences in the UK and the EU and are therefore available in 29 countries throughout Europe.

I would be interested to learn more about why you're unable to transfer money directly between those two accounts!

We sure do! We're actively working on our EU license and that will enable inbound EUR payments for UK residents, plus EU residents will be able to use the service. We can't wait to expand further.

We're absolutely working on expanding our network over time, and CHF is on the list

This is a great question and we see it a lot. Really, it highlights just how opaque FX fees are in the industry, particularly with large institutions.

It's important to notice that we're the only product that combines a fixed fee and zero FX markup. Banks are charging you a fixed fee, but marking up the FX rate by 1-3% typically. So you're actually paying 8 EUR explicitly + 1-3% hidden fee which, in total, is a (very high!) variable fee.

What you're saying is generally correct

These are mostly unit costs, and they're factored into our model

Not relative to our pricing! For a £5k transfer we're charging 83% less than Wise. I'm certainly happy to pay 83% less for substantially the same service :)

Customers are opted out by default - opting in is optional. Although I agree it would be nice to have a mechanism to hide the cookie banner. Something we should look into adding.

Thanks for raising, have shared with the web team!

Based on our experience speaking with a number of institutional players, including traders and banks, what we found is that the institutional rates are unbelievably efficient, but the situation immediately gets worse as you move away from these centers of liquidity.

If you talk to 3rd party institutional FX providers, they'll immediately mark up rates because its how they make all of their money.

We're trying to put that gravy back into your pocket! These are the exact problems that motivated us to build this product - because we ourselves were forced to pay these fees when we moved to the UK from the US.

We appreciate the critical feedback - keep it coming. It's good to talk about these topics in the open. We'll be sure to work on this to make sure there is clarity around this part of our offering.

Other services are expensive, because they try to serve everyone - they are basically cross subsidizing between their customers that make them all of their money (by moving larger amounts), who end up paying for their customers who move small amounts. On average, this doesn't seem like a big deal, but it ends up being expensive for the folks who move most of the money.