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27th May, 2020

pagofx, team

Why I’m excited about the launch of PagoFX

By Chirag Patel, Santander Global Head of Payments

Truly, the best of both worlds

Updated on 14 August 2020

At Santander, we’re always looking for ways to make banking better. That’s why we founded PagoFX, a new mobile app for low-cost money transfer, backed by Banco Santander. And I am really excited for the team to finally launch last April.

The new service aims to revolutionise foreign exchange (FX) for all. It forms an open-market expansion of Santander’s One Pay FX, so any UK resident with a debit card issued by any UK bank or financial entity can access the service. Through PagoFX, users can seamlessly and quickly send money abroad from their smartphone, with guaranteed low costs, bank-level security and customer support via in-app chat, web and e-mail.

Not only does it offer a more fair, secure way to transfer funds abroad, in order to help people sending money overseas during the ongoing coronavirus pandemic, but PagoFX also offers a no-fee service that has been extended to 16th September 2020.

“Look after the pennies and the pounds will look after themselves” has never been truer. When it comes to our hard-earned money, no-one wants to be charged more than they should be. Yet foreign exchange has been doing just that – taking a chunk of money off those sending it abroad, so their recipients are losing out. What’s worse is sometimes these fees are hidden or variable, so the sender can never be sure how much of their money will go to the account they’re transferring it to.

That’s why PagoFX set out to fix the problem. Combining the agility and convenience of a fintech with the expertise and technology of a heritage bank, PagoFX offers competitive and transparent pricing, including real-time foreign exchange rates. This means Santander’s established know-how in international payments, foreign exchange and security will be available to more people, who will also benefit from the competitive pricing of a fintech.

I’m extremely proud to have been involved in helping to bring to market one of the most affordable FX providers. So whether you’re a parent supporting your child living or studying overseas; a worker sending money to relatives in your home country; or you’re a UK resident living abroad and paying your expenses, with PagoFX you know you can save those pennies without compromising on security and service.

More information, including eligibility and full terms & conditions of the no-fee transfer offer can be found at

Kudos to the highly talented team that made it happen.

This article was updated on 14 August 2020 to reflect the extension of our no-fee programme until September.