Additionally, PagoFX is now available on any device through

The new solution, available for the 3.5 million sole traders in the UK, will accommodate everyone from freelance creative professionals, to tech developers, to microbusinesses and homemade crafters.

No-fee programme extended for two more months, until mid-August.

London, 16 June 2020 - PRESS RELEASE
PagoFX, Santander’s low-cost international money transfer service, is now available for the 3.5 million sole traders in the UK for the first time, opening up its fast, secure and low-cost international payments for business purposes. The service has also added eight new currencies from the Middle East and Central and Eastern Europe, including Israel, Turkey, Romania and Croatia. Sole traders can register in a matter of minutes to quickly send money abroad while seeing exactly what they pay in fees, with real-time exchange rates. The transfer can arrive within minutes, if sent on a business day before cut-off times, which is 4:30 pm for US dollars and 2:30 pm for euros.

The sole trader solution is a vital part of PagoFX’s roadmap, to accommodate everyone from freelance creative professionals, to tech developers, to microbusinesses and home crafters. Anyone can take advantage of PagoFX, regardless of the bank they use. In the near future the service will also be offered to small & medium size companies.

PagoFX, which was launched in April this year, also takes another step forward by introducing its new web service. This follows its mobile app, which has received very positive reviews on the App Store and Google Play. Any UK resident, both individuals and sole traders, can now use PagoFX through a web browser on any device. Sole traders will need to sign up on and go through a quick verification process after which they will be able to initiate a transfer within seconds. 

Cedric Menager, CEO at PagoFX
, comments: “From the outset, PagoFX has been designed to ensure anyone can make simple, safe and low-cost money transfers, and today’s announcement takes us one step further. We’ve listened to our users and begun rolling out the new features that matter most to them. We are pleased to now support sole traders across the UK and extend our current no-fee programme to them during these uncertain times. Whether you prefer to use mobile apps or a web browser, you can expect an easy-to-use, secure and fast process with PagoFX.”

It is a difficult time for sole traders, particularly those who have business across borders. To support them, as well as individual users, PagoFX is extending its no-fee programme for two months, so it will continue to waive all fees on transactions until the 16th August 2020*. PagoFX is one of the most affordable providers through its competitive and transparent pricing, with no mark-up on foreign exchange.

The new sole trader solution and web service launch demonstrates the rapid expansion of PagoFX. This fulfils their mission to provide simple, secure and low-cost international money transfers, combining the best of technology and finance. With PagoFX’s bank-level security and dedicated customer support, sole traders can enjoy the reliability that comes with the backing of a global bank. 


PagoFX is an autonomous fintech start-up with more than 50 employees in Madrid, London, and Brussels and is backed by Banco Santander, a leading retail and commercial bank, founded in 1857 and headquartered in Spain, with 146 million customers in 10 core markets in Europe and the Americas.

PagoFX was designed with trust, safety, and the consumer in mind, featuring the extensive and thorough Santander Group product validation process:

  • Comprehensive – but quick – verification process before making the first payment to guarantee the protection of data and money. 
  • Every cost shown upfront with no hidden fees: users will know exactly how much they’re paying and how much their recipient will get. This includes real-time foreign exchange rates.
  • Bank-level security with the same product validation process as any Santander Group product, this means the company implements cybersecurity, financial crime, and risk requirements.
  • Financial Conduct Authority (FCA) approved institution: this safeguards funds until the associated payment has been sent, so users are fully protected in the case of defective execution of any payment. 
  • A dedicated support team of real people provides PagoFX users with expert advice and assistance for any type of enquiry via in-app chat, web and e-mail every day of the week including bank holidays.

International payments can currently be made using PagoFX from the UK to the US, the eurozone, Poland, Switzerland, Norway, Denmark, Sweden, the Czech Republic, as well as the newly added recipient countries: Turkey, Romania, Bulgaria, Croatia, Hungary, Israel, Qatar and Saudi Arabia. Further currencies and payment options will be introduced in the near future.

* The no-fee programme, deployed due to the covid-19 pandemic, is available to all registered UK users of the PagoFX app on iOS, Android and website via Until 16 August 2020, PagoFX shall waive international money transfer fees on transactions up to a limit of 3,000 GBP per user. This limit is cumulative – once you submit a single or multiple transactions above the 3,000 GBP limit, PagoFX’s standard fees shall apply on all amounts above the limit. Standard fee for transferring money to the eurozone, Switzerland, Norway, Sweden, the Czech Republic and Bulgaria is 0.70% of the sent amount; 0.80% for the US, Poland, Denmark, Romania and Hungary; 1% for Croatia; 1.2% for Turkey; 1.5% for Israel; 1.8% for Qatar and Saudi Arabia. PagoFX payments can arrive as fast as within minutes if sent on a business day before cut-off time (GMT), which is 4:30 pm for USD, 2:30 pm for EUR, 2:00 pm for ILS, QAR and SAR, 10:30 am for CHF, SEK, NOK and DKK, 9:30 am for PLN and TRY, 9:00 am for CZK, RON and HUF, and 8:30 am for BGN and HRK. For Israel, Qatar and Saudi Arabia, money sent before the cut-off time will arrive the following business day.