Atlantic Money operates as an app-based international money transfer service. In November 2024, the platform was acquired by Deel, the global payroll and HR entity, which has integrated Atlantic’s infrastructure into its broader employment platform while maintaining the standalone app for individual users. The platform continues to differentiate itself through a simple pricing model: a flat fee combined with the live interbank exchange rate.
How Atlantic Money Works
The service facilitates currency exchange and international bank transfers through a mobile application. Users initiate transfers by specifying the amount, recipient bank details, and selecting delivery speed.
The transfer process follows these steps:
- User initiates transfer in the Atlantic Money app
- Funds are sent via local bank transfer to Atlantic Money
- Atlantic Money converts the currency at the interbank rate
- Funds are sent to the recipient’s bank account abroad
The platform handles the currency conversion internally before routing funds to the destination bank. In late 2024, the company introduced “Portals,” a feature that allows users to send money via the Atlantic Money network directly from their personal bank accounts without requiring a dedicated mobile app login for every transaction, serving as a low-cost alternative to traditional SWIFT wires.
Fee Structure
Atlantic Money uses a flat fee model regardless of transfer amount:
| Fee Type | Amount |
|---|---|
| Standard transfer fee | £3 or €3 |
| Express delivery fee | +0.1% of transfer amount |
| Weekend rate lock fee | +0.1% (optional) |
The flat fee applies whether sending £100 or £100,000. For larger transfers, this structure becomes increasingly cost-effective compared to percentage-based pricing.
Exchange Rate Approach
The platform uses the live interbank (mid-market) exchange rate without markup. This rate represents the midpoint between buy and sell prices on wholesale currency markets.
Many transfer services add margin to exchange rates as a revenue source. Atlantic Money makes its costs visible through the explicit fee rather than embedding them in the rate.
Weekend transfers present a complication. Currency markets close on weekends. Users can either:
- Lock the rate from the previous business day for a 0.1% fee
- Accept the next available rate when markets open (free, but amount unknown until Monday)
This creates uncertainty for weekend transfers when selecting the free option.
Transfer Speed Options
Two delivery speeds are available:
Standard delivery: Typically takes 2 working days or more. Timing depends on the destination currency and receiving bank’s processing.
Express delivery: Available for an additional 0.1% fee. Some transfers arrive instantly; others complete within hours depending on the corridor.
Actual delivery time varies by destination country and receiving institution. The express option reduces but does not guarantee same-day delivery. By 2026, the service expanded its footprint beyond its European core, securing regulatory approvals to operate in the United States, Canada, and Australia.
Supported Currencies and Countries
Atlantic Money supports transfers to approximately 30 countries. Available currencies include:
- GBP, EUR, USD
- CAD, AUD
- PLN, SEK, NOK, DKK
This range is narrower than some competitors. Users sending to countries or currencies outside the supported list need alternative services.
The service primarily serves outbound transfers from the UK and EU. Users must hold a bank account in these regions to fund transfers.
Transfer Limits
Limits apply based on verification level:
| Verification Level | 30-Day Limit | 180-Day Limit |
|---|---|---|
| Basic | £/€850 | £/€2,500 |
| Selfie ID verified | £/€30,000 | £/€80,000 |
| Source of funds verified | Custom | Custom |
Single transfers can reach up to £1,000,000 or €100,000 for users with appropriate verification and limit approvals.
New users face restricted limits until completing additional verification steps. Large or frequent senders need to plan for the documentation process.
Funding Requirements
Transfers must be funded via local bank transfer only. The platform does not accept:
- Card payments
- SWIFT wire transfers
- CHAPS transfers
- Cash deposits
This restriction simplifies operations but limits flexibility. Users accustomed to card funding or immediate payment initiation may find the bank transfer requirement slower.
Platform Access
Atlantic Money operates exclusively as a mobile application (iOS and Android). No web portal exists.
All account management, transfer initiation, and limit adjustments happen through the app. Users who prefer desktop interfaces cannot access the service.
Regulatory Status
The company holds authorization from:
- UK: Financial Conduct Authority (FCA)
- EU: National Bank of Belgium (NBB)
These authorizations require the company to safeguard customer funds and maintain compliance programs. User deposits are protected but are not covered by deposit insurance schemes designed for bank accounts.
Limitations
Several constraints affect usability:
App-only access – No web interface exists. Desktop users must use the mobile app.
Limited currency pairs – Approximately 9 destination currencies compared to dozens offered by some competitors.
Bank transfer funding only – No card or instant funding options.
No rate tools – No ability to set rate alerts, targets, or lock rates for future transfers.
Restricted corridors – UK and EU outbound only. Cannot send from other regions.
Practical Considerations
Cost efficiency at scale – The flat £3/€3 fee favors larger transfers. A £10,000 transfer costs the same fee as a £100 transfer, making the effective rate much lower for higher amounts.
Interbank rate advantage – For currency pairs with tight spreads, the true mid-market rate provides measurable savings versus marked-up rates.
Weekend timing – Transfers initiated Friday through Sunday require choosing between a known rate (with fee) or an unknown rate (free). This affects planning for time-sensitive payments.
Limit progression – New users start with low limits. Upgrading requires identity and potentially source-of-funds documentation. Users needing to send larger amounts should verify early.
Processing time – Bank transfer funding adds time before the international transfer begins. Combined with standard delivery times, end-to-end duration exceeds services offering instant funding.
Cost Comparison Factors
A meaningful comparison with other services requires considering:
- Total cost (fee plus exchange rate impact)
- Transfer speed requirements
- Funding method preferences
- Destination currency availability
- Amount being sent (flat fee versus percentage)
The flat fee structure offers clear cost advantages for large transfers to supported currencies. Smaller transfers or destinations outside the supported list may find better value elsewhere.
