Santander launches PagoFX money transfer service in Belgium

PagoFX, Santander’s new international money transfer service, is now available in Belgium. Belgian residents can send money abroad quickly, securely and at low cost, no matter who they bank with, and with the peace of mind that comes from having one of the world’s great banks behind their transaction.

Launching in the heart of Europe has always been a key priority for PagoFX. From introducing the service to UK customers in the middle of the first wave of coronavirus lockdowns, to rolling out services for sole traders and small businesses, 2020 has been a year of continual growth and expansion. With PagoFX users able to send money to more than 40 countries, our product is now truly global in reach with plenty more in the pipeline.

“Money transfer is an area ready for a shakeup in Belgium,” says PagoFX CEO Cedric Menager. “Sending money abroad here can be difficult. Many Belgian residents still pay high fees with hidden charges in exchange rates, then only have their funds delivered days later without transparency on the exact amount they’re sending.

“When they look to new offerings from fintechs which partially address this, they lack a key element for digital payments: safety and confidence.

Bringing together the best of an established bank and the agility, customer focus and innovation of a fintech, PagoFX is stepping up to the plate to ensure Belgian residents can send money where and when they want to, with all costs upfront and the backing of Santander, one of the world’s most trusted banks.

There are many reasons why anyone might want to transfer money abroad. From expats supporting loved ones back home, to foreign property owners with bills to pay, and Belgian bank account holders who want to support organisations and charities abroad with their donations. Then there are those times you don’t think you’ll need to send money abroad until you do – meaning a steep learning curve when it comes to exchange rates, transfer speeds and fee structures.

It can often seem too complicated, and nothing beats real world experience, which is something PagoFX has managed to handle deftly throughout the global Covid-19 pandemic. Since launching in the UK, Cedric says, the business has further refined its user experience, simplified signup without sacrificing security and sped up payments where applicable, delighting customers in the process. Now it’s time for Belgium to experience this.

“Brussels is the multicultural capital of Europe, with many expats and foreign workers for whom international payments are a backbone of their life,” he says.

“And by being here, we’re also now placed where EU payments regulations are discussed and decided, which lets us quickly identify and adapt positive benefits for customers.”

Which means the next six months are as likely to be as busy, if not more, for this fast-growing startup. Despite being a new brand, Cedric says he’s confident Belgian residents will appreciate PagoFX on its merits, and see how PagoFX is with them at moments that matter.

“Our vision is to be the world’s most trusted and loved way to send money abroad,” Cedric adds. “We want all our customers to feel confident about sending money overseas. That’s why we created PagoFX.

“Today, we’re taking it a step forward. I look forward to welcoming Belgian residents to our service and trust you’ll enjoy the speed, value and confidence which comes from using PagoFX.”

Helping you through the pandemic

In light of the ongoing lockdowns and disruption caused by the Covid-19 pandemic, we’re launching PagoFX in Belgium with no fees until 15 January 2021 to help our new customers support their families and friends abroad, as well as organisations and charities. First-time users won’t pay any fees at all, without any mark-up on foreign exchange, up to a total limit of €1,000 (terms apply). This global pandemic is touching all lives, communities and industries and our commitment is to deliver this new service for those who need it the most.