Key Takeaways:
- Disruptive fixed fee structure for international business transactions now available in 29 countries.
- Pioneering platform caters to transactions up to £1 million for an unprecedented flat fee of £3.
- Strategic move offers significant savings for businesses amidst rising fees by other big players in the market.
Breaking the Mould: A New Horizon for Business Transactions
In a world where FinTech giants constantly pivot their pricing structures to stay ahead, Atlantic Money emerges as the game-changer, painting a new picture of the future. This innovative platform has unveiled its flat fee structure for international business transactions, marking a colossal shift from fluctuating rates to a transparent, affordable, and fixed fee of just £3.
A Tumultuous Landscape: Where Others Are Heading
Contrary to Atlantic Money’s ground-breaking move, other significant players have recently hiked their fees. Notably, on July 23, Revolut announced a 50% spike in its international business payments fee. Similarly, Wise, another big name in the sector, jacked up its fee by 20% on April 23. Such leaps in transaction costs have left businesses in a quandary, seeking viable and economical alternatives.
The Bigger Picture: Atlantic Money’s Monumental Impact
Atlantic Money isn’t new to making waves. In its debut year, it transferred an astonishing £160 million for its users overseas. This remarkable figure eclipses the inaugural volume of Wise by a whopping 16 times. With the inclusion of business transactions, Atlantic Money anticipates an explosive trajectory of growth in its subsequent year. An Ernst & Young study offers insight into the potential ripple effect of Atlantic Money’s move; a staggering 97% of global international transfers are business-oriented, summing up to a mammoth £120 trillion.
The Power of Flat-Rate Pricing
Atlantic Money’s unique flat-rate pricing structure is a boon for businesses frequently dealing with sizeable transaction amounts. This model could spell savings amounting to thousands of pounds, especially when transacting sums up to £1 million.
A Vision Rooted in Enhancement
Delineating Atlantic Money’s distinctive approach, Neeraj Baid, CEO and Co-founder, emphasized the brand’s departure from the traditional FinTech aspirations. “Our goal isn’t to replace or replicate bank accounts for businesses. We are laser-focused on amplifying the existing, seamlessly integrating our service into the current business ecosystem,” Baid remarked. By ensuring that the adoption of Atlantic Money is effortless and intuitive, the company stands as a testament to user-centric innovation.
Baid further highlighted the groundbreaking fixed fee model, asserting, “Our users, whether they’re transferring £10 or £1 million, will always incur a nominal fee of £3. This not only safeguards businesses against exorbitant charges but also paves the way to eliminate variable fees entirely.”
A Glimpse into Atlantic Money’s Fabric
With its inception in 2020, Atlantic Money, founded by Robinhood alumni, Neeraj Baid and Patrick Kavanagh, took the FinTech world by storm in July 2022. Available in 29 countries, this avant-garde platform boasts of a price comparison calculator, demonstrating savings of up to 99% per transfer. Backed by a robust seed funding of $7.5 million from investors, Atlantic Money has firmly anchored its roots in London.
For Businesses: What Lies Ahead
Businesses, ranging from freelancers to corporates, can leverage Atlantic Money’s revolutionary platform, transferring up to £1 million internationally for the company’s signature fixed fee. Although companies need to furnish comprehensive information for identification, they are rewarded with a generous monthly transfer limit.
In Conclusion: The Dawn of a New Era
Atlantic Money’s latest foray into the B2B and B2C sectors has undoubtedly recalibrated the scales of international money transfers. With its pioneering fixed fee model, Atlantic Money has ushered in a new epoch, promising businesses not just savings, but also transparency, reliability, and a seamless transaction experience.
For a deeper dive and further information on Atlantic Money’s offerings, visit Atlantic Money for Business.
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