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Show HN: 99% cheaper international business transfers – fixed fee, real rate

atlantic.money

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Re: Show HN: 99% cheaper international business transfers – fixed fee, real rate

#41

Post by tikkun »

Reactions when checking out the homepage:

* Huh, that is quite a bit cheaper and I don't love wise

* Is it available for US customers? I can't quite tell

* Eugh, I don't want to download an app. I'm working on my laptop right now, not my phone. I do 99% of my Wise payments on my laptop

Then reactions reading the HN comments:

* People noting that 50% cheaper is good but 99% cheaper a concern that it won't last. And the transfer fees I pay to wise are nothing compared to the headache if there was a payment issue. I agree with both of those, I'm convinced to stick with wise until I'm sure that this would be both cheaper and equally credible and low-risk / low-hassle

Re: Show HN: 99% cheaper international business transfers – fixed fee, real rate

#42

Post by void-pointer »

I've been using Atlantic in a personal capacity for about a year now and I have nothing but good things to say about them. The iOS app is super slick!

One time, however, my bank blocked a payment claiming it was cryptocurrency, and I had a rather interesting chat with their customer support, with the agent(s) getting quite visibly frustrated about the situation. Apparently it happens a lot.

For the curious: In the UK, Atlantic use the British branch of Estonian bank LHV Pank (https://en.wikipedia.org/wiki/LHV_Pank), and you get a dedicated account number and sort code to send the money to (i.e. no need to fiddle with reference numbers)

Re: Show HN: 99% cheaper international business transfers – fixed fee, real rate

#43

Post by wdaareg »

ritzaco wrote: post #14

I've been using Wise for years and am generally happy with them, but always keeping an eye out for alternatives. Why I didn't find this convincing - Have to download app - wise lets me use a website too, and generally I want to do business banking from my laptop, not my phone - No actual price comparisons and 99% seems unlikely. Wise also gives me the 'google exchange rate'. If you are actually cheaper, then I would…

Thank you for your feedback, will be considered! Web app is in the making, so we are happy to welcome you soon on board.

And say no more about the Wise comparison: https://atlantic.money/wise

Re: Show HN: 99% cheaper international business transfers – fixed fee, real rate

#44

Post by wredue »

igetspam wrote: post #15
reacharavindh wrote: post #11

Earlier quoted context omitted.

Everything is an app on the phone now.. I’m not saying there shouldn’t be an app. But running a website is the least common denominator - why would a company forego the basic win?!

It's financial. It's a lot more complicated for me to inspect an app than a website. I understand that the modern generation is pretty comfortable with this but us old folks have a lot of money and don't trust our phones with it as easily. (I beta tested Android while at Google. Smart phones aren't new to me. I just have a different level of acceptable risk than my kid does.)

Nobody capable of finding exploitable issues is going to be deterred by being an app rather than a website.

If their thought process on this is actually “security through obscurity”, then I would not go anywhere near this as it tells me immediately that they don’t give a single solitary fuck about proper security guidelines.

Re: Show HN: 99% cheaper international business transfers – fixed fee, real rate

#45

Post by anonzzzies »

The only thing that I would consider as interesting for attention now is a service that will value me as a customer and not have AI flag transactions I do monthly and then ask me for submission of endless paperwork for aml/Kyc reasons. It’s becoming too much of a burden even though there is 0 cause beyond them trying to cover their asses ‘just in case’.

Re: Show HN: 99% cheaper international business transfers – fixed fee, real rate

#46

Post by wdaareg »

sokoloff wrote: post #37

99% cheaper is probably much more of a turn-off to possible customers than an appealing feature. 50% cheaper is something that I'd look into. 99% cheaper feels like this is going to one or more of: a scam, a fly-by-night operation [unable to afford good customer service, etc], hidden exchange fees [giving me a terrible rate and telling me that's not the case], a planned bait-and-switch, and/or an unsustainable busine…

When you change an entire sector, it is always met with a lot of scepticism at first. But 99% is nothing but the truth, especially since Wise and Revolut increased their prices for biz transfers. Check out our Wise comparison we created to demonstrate the difference: https://atlantic.money/wise

Further, we are profitable with Atlantic Money on every transfer. Our whole infrastructure is built on a different concept, which is why Wise and Co. also cannot offer transfers for the same price without losing it all.

To give you a proof of our work: We transferred £160m ($200m) in our first year for private users, 16x what Wise sent back then.

Re: Show HN: 99% cheaper international business transfers – fixed fee, real rate

#49

Post by wdaareg »

iterminate wrote: post #29

My company pays Wise around £100/month in transfer fees so reducing that to £3/month piques my interest but the headache I would experience if anything went wrong would cost me a lot more than £97. My worst nightmare when using a new financial platform is that I get caught up in some KYC nightmare after transferring money and it is stuck in purgatory forever. The website doesn't include anything to reassure me that t…

Thank you for the feedback, much appreciated and will be considered!

Please note that our web app is in the making. So soon this won't be an issue anymore.

To prevent our users to "get caught up in some KYC nightmare" we – in contrast to Wise and Revolut – only allow your transfer after we checked and approved your documents. This minimises the risk of holding your money.

Cheers

Re: Show HN: 99% cheaper international business transfers – fixed fee, real rate

#50

Post by wdaareg »

void-pointer wrote: post #42

I've been using Atlantic in a personal capacity for about a year now and I have nothing but good things to say about them. The iOS app is super slick! One time, however, my bank blocked a payment claiming it was cryptocurrency, and I had a rather interesting chat with their customer support, with the agent(s) getting quite visibly frustrated about the situation. Apparently it happens a lot. For the curious: In the UK…

Thank you. Happy that you are happy (with one exception). And the good news: The banks have now understood who we are.
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