Atlantic Money Anmeldelser 166

I have used Atlantic Money for several years. The exchange rate and fees are the best around. However, now I’m based in Australia I’ve been kicked off the site as the service is only for UK residents. I am a British citizen with UK bank accounts and income. Now using Wise with higher fees but a much more user-friendly app and super quick transfers.
I’m aware it’s a residency issue. Just strange and unique to Atlantic.

Tried to transfer a relatively small amount of money to a family member in USA. Transfer was held in review - when I queried this was told I could only send money to an account in my own name! So basically Atlantic Money are now pointless.

I previously successfully used this service to transfer money to family in Canada on a number of occasions. This time, recipient details had disappeared and I tried to add same details as new recipient but failed - no reason given. Upon enquiring I was told that I could only transfer limited funds to an account held in my name so a good service has now deteriorated to a completely useless one. Pity. Opened account with one of their competitors and money exchanged and sent without problem.

Used to be Good, but sadly now, totally useless
I have sent money to my Daughter who lives in Australia multiple times using Atlantic money over the last couple of years and each time the transaction has been smooth and has happened by the agreed date. However this time the transaction failed and I got an error messsge on my screen saying "Error, we don`t currently support this recipient type"
I contacted Atlantic money via their whatsapp chat and was told that their "compliance team" said the following
"To strengthen the protection of our customer`s account,we have implemented additional security measures following an internal review.
This means your account now has a daily transfer limit of £2000 within the plus tier and THE FUNDS CAN ONLY BE SENT TO ACCOUNTS IN YOUR OWN NAME. These steps are designed to safeguard your account and ensure the continued integrity of our services".

So what is the point of Atlantic Money now if people can`t send money to family members accounts overseas?
I will have to find another service from another company who wants my business rather than Atlantic Money who seem to have some sort of wish to commit business suicide!

Hoping for a response and explanation from Atlantic money but will they even bother themselves to reply ??

They agreed to change to money from my house sale after I sent the docs they requested now they are making me transfer it In small amounts making me pay more fees and wont tell me why they have gone back on the arraignment THEY made..... steer clear of
@Atlantic_Money
#Atlantic_Money

Customer service is nil.

Have used several times and it's been clunky but ok. However, on this occasion, they wanted proof of funds for a measly 2k exchange request.
I sent my P60.
That was not good enough apparently but I don't know why. No explanation no communication,other than "Unfortunately, we need some more info.
(And in the same email:)
Unfortunately, we cannot proceed with the review of your account".

Went back and forth for days during which the exchange rate changed ... not in my favour.

Maybe they communicate better over whatsapp but it's the only option provided. No Signal, no Telegraph, no online chat, no phone number.

We sold a property abroad. I had to jump through a few hoops, but who doesn't when confirming money laundering details. I had to split the euros 50/50 with my ex- wife. I sent her ½ and me ½. Fantastic experience, I would highly, highly recommend Atlantic Money to anyone. I have used FX exchanges before, this is far cheaper and more transparent than anything I have used before. Will be using again when I buy my next property, hopefully in Bulgaria. Atlantic Money is covered by the FSA, so safer than high Street banks which limit your protection to only £85,000

The most annoying site to use to transfer a small amount of currency
Dreadful communication
Dreadful site
Give better feedback of what is required
The most frustrating site I have ever tried to use
Would not recommend
Cheap fees yes
Cheap inadequate company goes without saying
Started the attempted transaction in early January still getting more details required after sending bank statements for numerous months
Do not use this company !!!

Great experience - money instantly reached the destination with no issues

I read about the service provider online and decided to use their service. I'm thrilled with how well-organized and easy the platform is to use. I initiated the transfer on Monday, the money was sent, and three days later it was in the recipient's account. I received updates at every stage of the transfer. Simply fantastic, very low fees, and always the current exchange rate. I can only recommend it; there's nothing better. If anyone has had negative experiences, they probably used the system incorrectly. It's really very user-friendly. I've used Atlantic three times now and will continue to use it. Thank you for this great service!

As the other most recent review, my funds have also been held. Now it's been 12 days. No firm indication of when they will be released.

The company is owned by Deel, which is preparing an IPO. So I am not afraid of Atlantic Money imminently going bust, but I have escalated formally and will be taking to the Ombudsman.

As with the other complaint, this is for a significant sum, and also for key payments whose deadlines I am now missing (and incurring associated penalties which I will ask for reimbursement). Atlantic Money only beats Revolut and Wise on larger sums, but it's also larger sums that you are more likely to be willing to pay a bit more if the company is reliable, like Wise, and can release funds at the time they say they will.

Needless to say, I won't be using them again.

Edit: Revised to 3 stars due to excellent communication and transparency and the cash arriving, albeit 14 days after the exchange was initiated.

This is a fraudulent company. Do not use them.

I have used them in the past with good result but unfortunately I’ve had a terrible experience. 10 days ago I made a large transfer of over 100k for a mortgage downpayment. It’s been 10 days and my money hasn’t arrived yet. I am about to loose my mortgage and with that the my down payment on the flat I’m buying. This is costing me thousands of euros and immense anxiety.

I’ve been messaging them every day and they keep telling me lies about a bank on the chain that’s causing issues and that this is being resolved asap. They have not been able to give me any timelines which truthfully is shameful. They have conveniently been ignoring me lately as well.

I have opened a case with the uk onbudsman and European Anti-Fraud Office and I’m hiring a lawyer to sue them.

I was wondering why everyone uses Wise - now I know

Transfered a high 5 digits amount of euros toy bank account in canada, since I was moving abroad. Atlantic money takes approximately a week for the whole process, but the fees you save are gold worth. I don't understand all the other bad reviews. The only thing that concerned me a bit was that there aren't much news articles on this company. But it worked well for me.

I haven't used Wise since I started using Atlantic Money two years ago. I have saved thousands on my € to £ transfers. I have already transferred +£300.000 with them over two years, no issues. Yes they are a bit slower if you want to only pay the 3 euro fee (and not the 0,1% fee for instant payments). But the savings with the fixed fee of 3 EUR compared to the percentage Wise wants it's worth it. Usually takes them 2 business days instead of the 3 they say but sometimes it also is 3. Instant transfers for lager amounts (+20.000 GBP) are often not available. I have had no issues with being verified. Also requested a limit increase last week and got a custom limit within 24h when I provided new documents. I don't get all the negative reviews, provide the correct documents requested and there should be no issues.

A scammer persuaded my 84 year old father to transfer money from his Santander account to Atlantic Money. The scammer then by passed Atlantic Money’s so called 2 factor authentication and stole his money!

This platform is not secure. Atlantic Money will not tell us where the money was transferred to and are being extremely uncooperative about providing account information.

I asked the question, ‘why the scammer asked my father to transfer the money to Atlantic Money and not directly to another account’ - They have not given an answer. Therefore the only conclusion is that the scammers are using the Atlantic Money platform to launder money because the security can be easily bypassed.

I am asking everyone who reads this to boycott Atlantic Money because your money is not safe.

Really happy with the service I received from Atlanic Money. It was suggested to me by Chat GPT when I was looking for the most affordable way to move money between 2 countries. I did a small test transfer first which worked perfectly and then moved thw reminder of the money. Exchange rate very competitive and money arrived within less than 24 hours both times.

Not as fast or flexible as advertised.

Initiated a GBP → EUR transfer on Tuesday, but Atlantic then requested multiple documents, including proof of funds. They wouldn’t accept screenshots, only a PDF, which delayed things by another day.

Although I selected Standard delivery, by Thursday I needed the money urgently and wanted to upgrade to Express — but was told it’s not possible once a transfer is started, even though the transfer hadn’t been processed yet. In the meantime, I also lost the original exchange rate, which meant a difference of around €400.

Now I’ve no idea when the funds will actually arrive. It’s frustrating that a service marketed as fast and efficient is so inflexible when delays come from their side. If you're sending a large or time-sensitive transfer, this may not be the right platform.

First time using it as an avid monthly user of wise … locked in my transaction after waiting for verification… they sent the money back… as was under the amount which was actually sent in a separate transaction due to daily banking limits! Overall terrible and will not change my monthly payments to this vendor.

They offer the best rates on the market, all for a small flat fee. Very happy with the app experience and the high service quality