Santander’s ‘TransferWise rival’ PagoFX expands coverage to Belgium

Santander’s ‘TransferWise rival’ PagoFX expands coverage to Belgium

Risk Disclaimer >>
Ad disclosure Fintech-Insight stands firm in its mission to facilitate sound financial decisions for you. We forge alliances with specialists to provide the latest in news and facts. Engagement with designated links, sponsored entries, products and/or services, leading transfers to brokers, or promotional content might entail financial recompense for us. We pledge to protect our users from any negative repercussions arising from utilizing our site. Be informed that no content hosted here should be interpreted as authoritative in legal, tax, investment, financial matters or any expert counsel; it is meant for informational purposes exclusively. Should there be any concerns, securing the guidance of an independent financial consultant is recommended.

Digital Banking

With a €1,000 fee-free teaser rate for Belgium residents to sign up.

Santander’s ‘TransferWise rival’ PagoFX expands coverage to Belgium

Image source: PagoFX.

After launching in the UK in April, Santander is bringing its low-cost international money transfer service PagoFX to Belgium.

The move is PagoFX’s first international expansion, and comes with a bonus of letting new users transfer a cumulative limit of €1,000 for free until 15 January, after which time a fee from 0.7 per cent applies.

“It’s no coincidence we’ve chosen Belgium as the first country for our international expansion,” said Cedric Menager, CEO of PagoFX.

“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 is just the latest example of incumbent banks mirroring the pricing and functionality of low-cost fintechs, in this case TransferWise.

In November HSBC announced that it was launching its own fee-free international transfer service, albeit only for US customers of the bank so far.

Just as in the UK, PagoFX for Belgium offers 42 different countries from Australia to the US, with more coming soon, and can be used by any resident with a Belgian bank account.

The whole experience is managed via the PagoFX app, which includes an (Onfido-powered) verification process and payment tracking.

Sign up for our newsletters

Risk Disclaimer

Fintech-Insight is dedicated to delivering unbiased and dependable insights into cryptocurrency, finance, trading, and stocks. However, we must clarify that we don't offer financial advice, and we strongly recommend users to perform their own research and due diligence.

Leave a Reply