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Home Fintechs Santander launches money transfer app PagoFX in Belgium

Santander launches money transfer app PagoFX in Belgium

PagoFX by Santander is a low-cost service for international transfers and is now available in Belgium.

With this service, which was launched in April in the United Kingdom, Belgian residents with a debit card issued by any Belgian bank or financial institution will be able to send money abroad quickly and easily from their mobile phone with low costs, security and in-app customer service by chat, via the web or by email.

HSBC has also recently revealed that it would be introducing its own fee-free global money transfer service called Global Money Account, but it will only be available to the bank’s US-based clients for now. Check the full article below.

Read also: HSBC is set to launch rival product to TransferWise

Cedric Menager, CEO at PagoFX, says: “It’s no coincidence we’ve chosen Belgium as the first country for our international expansion: Belgium is the crossroads of many nationalities, many different cultures and many people with clear needs to make international payments with transparency and low-costs.”

Residents of Belgium can now register to create an account after downloading the app. Within minutes, after a short verification process, they will be able to make their first international transfer to 42 countries (including the Eurozone). The number of countries will increase very soon.

PagoFX charges a fixed fee of 0.8% of the transaction and promises delivery by the next day providing the transfer – calculated at the real-time mid-market exchange rate – is authorised by 8pm GMT the night before.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

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