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PagoFX lights up Diwali with low-cost money transfers to India

PagoFX lights up Diwali with low-cost money transfers to India

PagoFX, the international money transfer app from Santander, is adding the Indian rupee to its list of supported currencies, just in time for the annual festival of Diwali.

Launched in the UK in April as a direct rival to fintech unicorn TransferWise, PagoFX allows UK residents with a debit card issued by any UK bank or financial institution to send money abroad using just their smartphone.

“Since PagoFX launched in the UK in April, we’ve received many requests from British Indians and expats seeking an easy, secure and great value way to send money home to India,” says PagoFX chief executive Cedric Menager. “Today, I’m happy to say we’ve achieved this, and invite anyone looking to send money to India, whether you’re a Santander UK customer or not, to try our service and see the difference PagoFX can make.”

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.

As an added incentive. first-time PagoFX customers can send up to £1,000 with no fees under a bonus programme which runs until 15 January 2021.

India is the latest country to be added to PagoFX’s payment corridor, which now connects to more than 40 countries worldwide.

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