In building Atlantic Money, we sought to create a platform that would offer significant savings for our customers compared to alternatives on the market. Wise, as one of the largest money transfer services and one of our primary competitors, serves as a pricing benchmark for our service.
We’re proud to say that Atlantic Money is, on average, over 10x cheaper than Wise. These savings are driven by the fact that we charge a flat fee, while Wise charges a bigger fee the more you send.
Tip: Visit our Atlantic Money vs. Wise price comparison page to see the fee difference for a specific amount.
Here’s how we calculated that savings figure:
We looked at the transfers completed on our platform over the last few months.
We calculated the total fees we charged customers.
a. For this calculation, we assumed customers paid the fixed transfer fee for all transfers to eliminate any bias from promotional transfers.
b. In other words, even if a customer actually paid £0 fixed fee because they got a free transfer promo, this calculation assumed they paid £3.
We then calculated the total fees those transfers would have cost on Wise, based on their publicly available pricing on June 12, 2023.
We divided the figures from steps (2) and (3).
This calculation showed that customers saved over 10x, on average, when transferring with Atlantic Money instead of Wise.