PagoFX, the international money transfer app from Santander, has gone live in Belgium, marking its first expansion since launching in the UK in April.
Billed as a direct rival to fintech unicorn TransferWise, PagoFX allows users with a debit card issued by any bank or financial institution to send money abroad using just their smartphone.
From today, Belgian residents can sign up for an account once they’ve downloaded the app. In minutes, after a quick verification process, they can send their first international money transfer to 42 different countries.
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."
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.
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