Banco Santander Launches International Money Transfer Service PagoFX in Belgium

Banco Santander, one of the largest banks in the world, announced that it has launched its low-cost international money transfer service—PagoFX in Belgium, helping people in Belgium transfer money internationally with confidence.

With the PagoFX service, 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.

The service allows Belgian residents with a debit card issued by any Belgian bank or financial entity to seamlessly and quickly send money abroad via their smartphone with low-costs, bank-level security and customer service support via in-app chat, web and e-mail.

“Money transfer is an area ready for a shakeup in Belgium. 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. That's where we can help,” says PagoFX CEO Cedric Menager.

​In light of the ongoing coronavirus pandemic, PagoFX, which was launched only in April in the UK, will allow customers to use the service to transfer money abroad without any fees at all for the next months.