Atlantic Money Transfer Review 

Atlantic Money Transfer Review 

Money transfer services have become an integral part of our modern lives. Whether you’re sending money to family overseas, paying bills, or transferring funds to a business partner, it’s essential to do so securely, quickly, and cost-effectively. 

If you’re looking for an easy and affordable way to send money overseas, you might wonder if Atlantic Money Transfer is the right choice.

In this comprehensive review, we will explore Atlantic Money Transfer’s features, fees, customer service, and more to help you determine whether or not it’s the right money transfer service for you.

Atlantic Money Overview

Atlantic Money is a brand-new app that offers money transfers exclusively through mobile devices.

The company debuted in March 2022, aiming to revolutionise the money transfers industry. To compete with companies such as Wise and Revolut, Atlantic Money wants to offer even lower rates.

Therefore, the company offers a fixed fee of £3 and a mid-market rate for conversions. Their low prices make them undeniably the most competitive option in the industry.

Using Atlantic Money, you can send up to £1 million to a select list of currencies.

It may sound absurd, but it will cost you just £3 to transfer a million pounds.

The company’s founders, Neeraj Baid and Patrick Kavanagh, worked at the trading platform Robinhood before Atlantic Money was founded. They successfully raised a large amount of money for their start-up, including Index Ventures, Ribbit & Kleiner Perkin leading the $4.5 million seed round.

Robinhood founders Baiju Bhatt and Vlad Tenev, as well as Webull founder Anquan Wang, have invested in the startup.

What Services Does Atlantic Money Offer?

Since Atlantic Money is a new company, it only offers money transfers at the moment.

As soon as your funds are converted, they’ll send the money to your chosen account based on the current exchange rate.

There are no forward contracts, limit orders, or stop loss orders available at Atlantic Money. In addition, the company is not able to hold your funds. Therefore, at the time of conversion, Atlantic must send them to the chosen account immediately.

Currently, the only currencies you can convert are Pounds and Euros. And you can convert them to 9 other currencies.

They are as follows:

  • GBP
  • PLN
  • EUR
  • NOK
  • USD
  • DKK
  • AUD
  • SEK
  • CAD

The low conversion options represent a big downside, but that’s to be expected in the beginning. The company will offer a broader range of transfer options and currencies as it grows.

Atlantic Money Exchange Rates and Transfer Fees

Exchange Rates

Atlantic Money offers mid-market rates without any markups. Therefore, you will receive the best exchange rate when you transfer money.

This service is the biggest selling point of Atlantic Money – excellent exchange rate and low transfer fees, which are available to you at any given moment.

Transfer Fees

Atlantic Money allows transfers of any amount in any available currency for £3. No matter the amount, you will be charged the same fee – whether sending £10 or £1 million.

You can get the cheapest service on the market if you couple that with their mid-market rates.

How Does Atlantic Money Make Money?

The idea of a startup making money right away is unusual, but the strategy adopted by Atlantic Money takes it to a new level. The company earns its income solely through its £3 fees.

How Do I Get Started With Atlantic Money?

  • Download the app

The app is the only way to make transfers (a web portal has yet to be available).

  • Verify your ID 

With Atlantic Money, you only need to provide your name, date of birth, address, and a code you’ll receive by text. However, if you wish to send more than £5,000, you must upload a photo ID. 

If you wish to transfer tens of thousands of pounds, you may need to provide more information, such as bank statements and the reason for the transfer. As a result, Atlantic Money does its due diligence to ensure you aren’t engaging in any illegal activity!

  • Get an instant quote 

Verify that the amount you’ll send is what you expect.

  • Specify a recipient

You must have the recipient’s IBAN (identification number), name, and address on hand.

  • Make the payment

You can pay through Atlantic Money’s app by selecting your bank from a list and initiating the payment. If you prefer to pay by manual bank transfer, scroll down the list of banks and select it.

  • Click the confirmation button 

It’s that simple! Now that you’ve made the transfer, you’ll be able to track it.

Transfer Time

There is a 2-4 day turnaround time. For “Standard Delivery,” the currency conversion will take two business days, and delivery will take up to two additional business days. 

Euros are delivered instantly, Australian dollars in 2 days, Canadian dollars, US dollars, and most other currencies in 1 day.

There may be an option to choose “Express Delivery” (under certain conditions) for a faster transfer at an additional cost.

Payment Options

Unlike WorldRemit and Remitly, which both accept debit cards and cash, there is only one type of payment available through Atlantic Money: bank transfers.

The money you send to them is transferred back to your bank account as soon as it has been converted.

Atlantic Money will likely release new methods in the future.

Is Atlantic Money safe?

Financial Conduct Authority (FCA) regulates Atlantic Money as a payment provider. FCA-regulated companies are trustworthy.

Atlantic Money has undergone an extensive audit, examination, and scrutiny to determine how well its systems work and how well its customers are protected. Following that, they could declare themselves a secure and safe company.

You receive the highest possible level of security as a customer, affected in two ways:

  • It is possible to file a complaint with the Financial Ombudsman if Atlantic Money ever mishandled your money in a grossly negligent manner.
  • You will receive back the money you sent to Atlantic Money if they file for bankruptcy after receiving it.

If a UK bank goes bankrupt, you will be entitled to up to 85,000 pounds as part of the Financial Services Compensation Scheme (FSCS).

Therefore, using an authorised transfer company is safer than using your bank because of this. Companies must “safeguard” their clients’ money, meaning they cannot handle it themselves.

With Atlantic Money, you get a safe and secure service.

Atlantic Money Reviews

Since Atlantic Money is a startup, it only has a few online reviews. Despite claiming a Trustpilot page, they currently have no reviews.

However, you can find ratings and comments on the App Store. For example, Atlantic Money’s app is well-received by most customers. There are 16 ratings and 9 comments from customers.

One reviewer claims the process was slower than Wise, but the others are all five stars. Five-star reviews highlight the user interface and exchange rates.

There are 150k and 50k reviews for Wise and XE, so only having 16 reviews might discourage people. Atlantic Money is still in its infancy, but we expect they will soon promote their Trustpilot review.

An essential part of trust-building is having excellent customer reviews. Such a statement is especially true when it comes to financial services.

Is Atlantic Money’s Mobile App Good?

App store reviews for Atlantic Money’s mobile app average 4.9, with 16 reviews currently available. Out of 16 reviews, only one received a rating of fewer than five stars.

To use Atlantic Money, you must download the app from the App Store. Unfortunately, online platforms and Android apps are not available (yet).

Several comments recur in app reviews:

  • User-friendly
  • Notifications are sufficient to keep you informed
  • Excellent customer service
  • User-friendly interface

Overall, the mobile app for Atlantic Money looks excellent and is easy to use

How Do You Contact Atlantic Money’s Customer Support?

The customer service department at Atlantic Money is available via iMessage and WhatsApp.

You can start chatting very quickly. Here’s how:

  • You can get help by tapping the “Help” button on the bottom right of the app.
  • Their documentation is available online, or you can contact them by clicking “Chat with us.”
  • Choose between iMessage and WhatsApp.
  • Simply type your message.

Customer support at Atlantic Money is available from 9am – 6pm Monday through Friday (London time).

Users have left the following comments about their customer service:

  • A very quick response time.
  • The customer service team was extremely helpful.
  • Friendly and prompt responses.

We believe that providing customer support via iMessage and WhatsApp is an excellent idea.

As familiar platforms, they can simplify the process of getting help.

Is Atlantic Money For You?

Atlantic Money is a good choice for smaller, more basic transfers. We consider anything under £5k a “smaller” transfer.

With minimal fees, you’ll get the best rate available. Of course, you can’t go wrong when you combine that with an easy-to-use app and fast transfers.

However, Android users or those who need exotic currencies will have to wait their turn.

In case you’re a big business that needs to deal with exotic currencies, Atlantic Money may not be the best choice for you. Hedging tools are not yet available, and the company hasn’t grown enough to handle such transactions.

Atlantic Money Pros

  • Fees are low

Depending on the sending amount, finding an app that beats that simple low fee is hard.

  • A user-friendly app

You can’t go wrong with Atlantic Money’s app. You’ll be up and running in no time.

Atlantic Money Cons 

  • Android app is not yet available

It will be released in the upcoming months, as they are currently developing the app.

  • Application-based

All of Atlantic Money’s services are self-service and app-based. However, a handler may be more helpful if you are transferring large sums, even if it is a slick app.

  • Currency limitations

At the moment, Atlantic only offers a few currencies.

  • There are no FX tools available

There aren’t any rate targets you can set or the ability to lock in exchange rates (which is useful when making large transfers).


Atlantic has the potential to become a leading money transfer service thanks to its low-cost transfers, customer service, and easy-to-use interface. While there are many benefits to using Atlantic Money, there are also drawbacks. 

With Atlantic, you can make low-cost, fast international or domestic money transfers. Atlantic Money Transfer is an excellent choice if you’re looking to send money to family or friends.

Overall, we approve Atlantic Money Transfer as a viable option for your money transfer needs.

by Matt Woodley
Matt Woodley is the Founder of Money Transfer Expert and is a recognised expert on international money transfers. Matt holds a Bachelor of Commerce (BCom) majoring in Finance and Marketing and a Bachelor of Arts (BA) majoring in Economics and History from the University of Auckland.