Santander’s PagoFX introduces solution for sole traders, adds new currencies

Maria Nikolova

The service has added eight new currencies from the Middle East and Central and Eastern Europe, including Israel, Turkey, Romania and Croatia.

Santander’s low-cost international money transfer service PagoFX  has become available to the 3.5 million sole traders in the UK.

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. 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 the introduction of its mobile app. 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 PagoFX.com and go through a quick verification process after which they will be able to initiate a transfer within seconds.

To support sole traders, as well as individual users, PagoFX is extending its no-fee program for two months, so it will continue to waive all fees on transactions until August 16, 2020. PagoFX is one of the most affordable providers through its competitive and transparent pricing, with no mark-up on foreign exchange.

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