Review: PagoFX international money transfers

Launched by Santander, PagoFX gives UK residents a fast and easy way to send money to the US and European countries.

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  • Good for speedy, simple and secure transfers.
  • Not so good for flexible payment options.

PagoFX exchange rates and fees

Until 16 August 2020, PagoFX is waiving international money transfer fees on transactions up to a limit of £3,000 per user.

After you’ve exceeded this limit, PagoFX’s standard fees will apply: 0.7% for transfers to the Eurozone, Switzerland, Norway, Sweden and the Czech Republic, and 0.8% for transfers to the US, Poland and Denmark. Standard fees will apply to all transfers after 16 August 2020.

PagoFX also adds a margin to real-time mid-market exchange rates.

Available currencies

PagoFX currently offers international payments from the UK to the US and many European countries, with plans to roll out to other markets later this year. Some of the popular currencies include:

  • EUR euro
  • USD US dollar
  • CHF Swiss franc
  • CZK Czech krona
  • DKK Danish krone
  • NOK Norwegian krone
  • PLN Polish zloty
  • SEK Swedish krona

What types of transfers can you make with PagoFX?

PagoFX is best for making one-off or regular payments directly to a recipient’s bank account, using the PagoFX app.

The minimum amount you can send is £100 for USD and £2 for all other currencies. Maximum transfer limits vary based on the currency and the recipient’s country.

How long does a transfer with PagoFX take?

Payments normally arrive on the same day or the next working day. The app will tell you when the payment should reach the recipient before you complete the transaction.

What payment methods does PagoFX accept?

There’s just one way to make a transfer with PagoFX at the moment: you must use the app to pay with a debit card into a bank account.

Transfers typically takeClock icon for transfer speed

1 day

Is PagoFX safe to use?

  • Regulation: Regulated by the Financial Conduct Authority (FCA)
  • Established: 2020
  • Reviews: PagoFX has only just recently launched so we’ll have to wait a bit for these.

PagoFX is owned by Santander and says its app has “bank-level security”. This means that it adheres to the high security standards set by Santander as a global financial institution.

How does PagoFX make money?

PagoFX adds a small margin to the interbank exchange rate, which is why the exchange rate you might see on Google is slightly different to the one PagoFX is quoting. From mid-August, PagoFX will also start to make money by charging transfer fees, as mentioned above.

How do you register an account and make a money transfer?

What is PagoFX?

PagoFX is an international money transfer service backed by Santander for UK residents to make secure, low-cost international payments to the US and Europe.

Launched in April 2020, it’s currently only available via app, but says that its web service will launch later in the year.

In a nutshell


  • Free transfers and low fees. Transfers are free until 16 August 2020, or until you transfer more than £3,000 over that period.
  • Simple and secure sign-up process. You can sign up and verify your ID in minutes.
  • Fast transfers. Money is sent on the same day or by the next working day.
  • Bank-level security. It’s backed by Santander and so must adhere to its international banking standards.
  • Virtual receipts. Just tap on any payment on the app and hit the “Need a receipt?” button to create a PDF of your receipt.
  • Live chat and email support. The customer service team are available during the UK’s business hours.


  • No cash pick-up. Bank transfers only.
  • Debit card payment only. More payment options will be added soon.
  • App only. As well as your smartphone, you can also download the app onto Android-supported tablets, but not to iPads. PagoFX plans to launch web services before the end of 2020.

How does PagoFX compare to other services?

Table: sorted by a combination of service offering and the amount your recipient will receive

The table below shows the fees and exchange rates that you can expect from other money transfer specialists compared with PagoFX. Compare PagoFX with the other providers to see if it’s the best option for you for sending money abroad.

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
GBP 2,000 1 day GBP 0.00 1.097 EUR
Get bank-beating exchange rates and no fees when you transfer with TorFX. Go to site Show details
GBP 5,000 Same day GBP 0.00 1.097 EUR
Universal Partners FX offers competitive exchange rates and same-day transfers for 100+ currencies. Go to site Show details
GBP 2,000 1 day GBP 0.00 1.097 EUR
Make transferring money abroad as simple and safe as possible with bank-beating exchange rates - online, via the app or over the phone. Go to site Show details
GBP 5,000 1 day GBP 0.00 1.102 EUR
Take advantage of fee lock-ins and live bookable rates, helping you save up to 85% in hidden bank fees. Go to site Show details
GBP 2,500 Same day GBP 0.00 1.097 EUR
Central FX’s dedicated private client team will guide you through the money transfer process from first call to final payment. Go to site Show details
GBP 1 Same day GBP 0.00 1.102 EUR
Whatever amount you transfer, XE will not charge you a fee for using their service. Go to site Show details
GBP 3,000 1 day GBP 0.00 1.097 EUR
Get no fees as a Finder customer when you transfer your money overseas with Global Reach. Go to site Show details
GBP 1 1 - 2 days GBP 1.99 1.094 EUR
Special offers like free transfers and better exchange rates available for new customers.
Quick, affordable transfers around the world with both express and economy options.
Go to site Show details
GBP 5 2 days EUR 3.00 1.103 EUR
Special offer: Zero fees on your first 10 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Go to site Show details
GBP 10 Within an hour GBP 2.00 1.102 EUR
First two transfers free for new customers.
Instant or 1 hour transfers to over 50 countries, send money directly to bank accounts or over 280,000 cash pickup points.
Go to site Show details
GBP 50 Same day GBP 2.99 1.097 EUR
Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Go to site Show details

Compare up to 4 providers

Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.

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