IBOS member Santander UK introduces PagoFX, an International Money Transfer Service for businesses

PagoFX, Santander’s low-cost international money transfer service, is now available for the 3.5 million sole traders in the UK for the first time, opening up its fast, secure and low-cost international payments for business purposes.

The service has also added eight new currencies from the Middle East and Central and Eastern Europe, including Israel, Turkey, Romania and Croatia. Sole traders can register in a matter of minutes to quickly send money abroad while seeing exactly what they pay in fees, with real-time exchange rates. The transfer can arrive within minutes, if sent on a business day before cut-off times, which is 16:30 for US dollars and 14:30 for euros.

The sole trader solution is a vital part of PagoFX’s roadmap, to accommodate everyone from freelance creative professionals, to tech developers, to microbusinesses and home crafters. Anyone can take advantage of PagoFX, regardless of the bank they use. In the near future the service will also be offered to small & medium size companies.

Launched in April 2020, PagoFX is extending its no-fee programme for two months, so it will continue to waive all fees on transactions until 16th August 2020, in order to help sole traders, particularly those who have business across borders.

The new sole trader solution and web service launch demonstrates the rapid expansion of PagoFX. This fulfils their mission to provide simple, secure and low-cost international money transfers, combining the best of technology and finance. With PagoFX’s bank-level security and dedicated customer support, sole traders can enjoy the reliability that comes with the backing of a global bank.

Read the full press release via Santander UK here