Atlantic money Referral Code

The flat fee is genuinely unusual and genuinely good — for the right transfer. The referral needs both people to send £200, and the ownership changed in 2024.

The fee model is worth understanding rather than just admiring.

Atlantic Money charges a fixed fee per transfer — £3 — and does not increase it with the amount sent, with reported terms holding that flat fee all the way up to £1 million, at the mid-market exchange rate. That is a genuinely different structure from the percentage-based pricing most of this market uses, and on a large transfer the difference is substantial: review sites put the saving against a major percentage-based competitor at around £42 on a £10,000 sterling-to-euro payment.

But a flat fee cuts both ways, and no page promoting one ever says so. £3 on £10,000 is 0.03%. £3 on £50 is 6%. So the honest rule is: a flat fee wins on large transfers and loses on small ones, and there is a crossover point you can calculate in ten seconds — divide the flat fee by the competitor's percentage rate, and that is the transfer size above which the flat fee is cheaper. Below it you are paying more. If you send small amounts frequently — a monthly £100 to family, say — a flat-fee provider may be the most expensive option available to you.

And the fee is usually not the main cost anyway. The exchange rate margin is. The only comparison that means anything is how much arrives in the destination currency. Take the amount you want to send, put it into two providers, and compare the recipient figure. Everything else — fee, rate, "0% commission" — is a component of that single number, and a provider quoting a low fee on a poor rate can be dearer than one quoting a higher fee on the mid-market rate. Atlantic Money's claim to use the mid-market rate is exactly the claim to test this way, and it takes two minutes.

The constraints are real. Reported limitations include roughly ten supported currencies, bank transfer only, and no forward contracts — so if you are sending to most of Africa, Latin America or much of Asia, or want to pay by card, this is not a provider you can use. A narrow product done well is a legitimate proposition, but check your corridor is supported before you plan around the price.

On the referral: both sides receive £15 or €15, and the qualifying condition is that both the referrer and the person referred make a transfer of at least £200 or €200. That is a fair and clearly-stated condition, and it is worth noting because it requires the referrer's own activity, which is unusual — many programmes pay you for someone else's behaviour alone. A free first transfer for the referred person has also been reported, though this could not be separately verified — check the current offer in the app.

The ownership changed after this page was first written. Atlantic Money was founded by two early employees of Robinhood and came out of stealth in March 2022 after a £7.5 million seed round, reporting over half a billion pounds transferred for more than 10,000 customers within two years. On 27 November 2024, Deel — the global payroll and HR platform — announced it had acquired Atlantic Money, in what was reported as Deel's ninth acquisition and its fourth of that year. Terms were not disclosed.

The regulated entity behind a service can change with ownership. Review sources now describe the FCA-authorised entity associated with the service as Deel Payments UK Ltd (FRN 947491), with customer funds safeguarded in segregated accounts. That is reported as published rather than asserted, because the check is one worth making independently and it is quick: look up the firm on the FCA register and confirm which entity you are contracting with and what permissions it holds. The name on the app is not always the name on the licence.

And finally: safeguarding is not FSCS deposit protection. Segregated customer funds are your own money held apart from the firm's, returnable if the firm fails — but there is no compensation scheme topping up a shortfall, and returns are administered rather than automatic. Send money through a transfer service; do not store money in one.