Review: PagoFX money transfers | Finder UK

Review: PagoFX international money transfers

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

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


Fees (Pay by Bank Transfer)


Minimum Transfer Amount


Product NamePagoFX
Minimum Transfer Amount£2
Pay ByDebit card
Receiving OptionsBank account
Customer ServiceLive chat, Email
Bank Account Required?Yes
Personal Account Manager?No

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 promoted deals first
Our table below lets you compare the services you can use to send money abroad. Choose if you want to send under or over £10,000, and you’ll be shown a list of services that can help you.
Data updated regularly
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
TransferWise for large transfers
Within an hour
From £3.75

View details
TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
24 hours

View details
TorFX sends money overseas in 30+ currencies, with competitive rates for transfer amounts over $2,000.
24 hours

View details
SpartanFX has fee-free transfers, a best exchange rate guarantee and personalised one-to-one support for every customer.
Universal Partners FX
24 hours

View details
Universal Partners FX offers competitive exchange rates and same-day transfers in 100+ currencies.
PagoFX for large transfers
Within an hour

View details
PagoFX offers fast and cheap international money transfers from the UK and is backed by Santander.
Currencies Direct
Within an hour

View details
CurrenciesDirect makes transferring money abroad simple with bank-beating exchange rates.
24 hours

View details
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
Central FX
24 hours

View details
CentralFX's dedicated team will guide you or your business from first call to final payment.
Within an hour
From £3.75

View details
TransferWise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Within an hour

View details
PagoFX offers fast and cheap international money transfers from the UK and is backed by Santander.
XE Money Transfers
24 hours
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
XE has fast transfers with no fees and a range of foreign currency tools.
Within minutes
From £0.99
SPECIAL OFFER ✓ First two transfers free for new customers.

View details
Azimo sends money directly to a bank account or over 280,000 cash pick-up points. It also has fast transfers to 50+ countries.
24 hours
SPECIAL OFFER ✓ Zero fees on your first 10 transfers

View details
CurrencyFair has bank-beating exchange rates and fast transfer times on 15+ popular currencies.
Within minutes
From £1.49
SPECIAL OFFER ✓ Free transfers and better exchange rates for new customers

View details
Remitly has quick, affordable transfers around the world, with both express and economy options.
Within an hour
From £1.99
SPECIAL OFFER ✓ Use promo code 3FREE to send your first 3 transfers with no fee. Conditions apply.

View details
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.

Compare up to 4 providers

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