Our service is closing on 30 November 2021.

Sending form ...

Last updated: 8th October, 2020

moneytransfer, pagofx

What is an international money transfer app?

International money transfer apps are a convenient way of sending money, whether that be to your own account or to a friend or relative. If you’re confused by how they work and if they’re right for you, our guide to money transfer apps can help

Most people nowadays have diverted traditional methods of sending money – the days of sending cheques and cash are long gone. Whether you’re paying bills for your holiday home in Portugal,  transferring money back to your home country from your job in the UK or sending money to your child who’s studying in France, you’re going to want a convenient way to do it.

What is an international money transfer app?

An international money transfer app allows you to send money to another person or account abroad on your smartphone or tablet – most apps can be downloaded for both Android and iOS. Many apps also let you pay via your debit or credit card, while others send money from your chosen bank account.

Why might you need an app?

Money transfer apps offer you convenience – you can now transfer funds at any time of day from the comfort of your own home or on-the-go.

How to use an international money transfer app

In order to send money through an international money transfer app, you will often be required to disclose some information, such as your own bank account or card details and the recipient’s details. Some apps may ask you to provide a form of identification as well, such as a passport or driving licence.

Apps such as PagoFX by Santander will require details such as your debit card information to be able to make international payments. PagoFX is a transparent, secure and affordable service, backed by Santander, one of the world’s largest and most trusted banks.

Once you have provided the required information, you will need to input how much money you will be sending and the recipient’s currency. The relevant exchange rate and fees will be displayed before you confirm the transaction.

How secure are international money transfer apps?

It depends on the app you are using. But it is important to look out for services that are regulated by a financial services regulator, such as the Financial Conduct Authority (FCA) in the UK, the National Bank of Belgium, etc.

As it is backed by Santander, PagoFX offers the same level of security as a high-street bank. Authorised by the FCA, you can have peace of mind that your money is as safe as houses when sending funds through the app.

What are the costs of using an international money transfer app?

The cost of using money transfer apps differ. Fees can vary from a percentage of the amount you’re sending or a fixed sum. Fees can also vary depending on the destination the money is sent to and if you pay from a bank account, or debit or credit card. The exchange rates provided by apps will also vary.

PagoFX is a transparent app with no hidden fees. No matter the size of your payment or how regularly you send it, all charges are clearly shown, as well as how much money your recipient will receive. The app also works in real time to offer you the most current, competitive exchange rates.

How long do international money transfer apps take to send money?

Most apps are quite quick with money transfers – payments can often arrive to the recipient on the same day. However, this can differ between the services, the location you’re sending the money to and the time you choose to send it.

Most PagoFX payments will be processed the same day or the following day, if the payment is submitted after the cut-off time. The cut-off time varies depending on the currency of the money you’re sending. If you’re sending Czech koruna, the cut-off is 9:00am. For Polish złoty, it’s 9:30am UK time. For Swiss francs, Swedish krona, Norwegian krone and Danish krone, it’s 10:30am UK time. For euros, it’s 12:30pm UK time. For US dollars, it’s 4:30pm UK time. The app provides you with a clear date as to when your money will arrive in its new currency, so there is no confusion about timing. Sometimes the recipient’s bank will have its own security process that your payment will need to go through before it reaches your recipient’s account. In some instances, this may delay your payment.

UK residents can now download PagoFX on the App Store or Google Play.