IBOS member Banco Santander's PagoFX launches international money transfer service in Spain

IBOS member Banco Santander’s PagoFX launches a fast, secure and low-cost international money transfer service that is now available in Spain. 

As of 21 December 2020, Spanish residents now have access to PagoFX, a low-cost international money transfer service. Regardless of who they bank with, residents will now have access to PagoFX’s fast and secure international payments.

PagoFX is a part of PagoNxt, a new autonomous business created by Banco Santander to bring together its most disruptive payments businesses to compete with global digital payments platforms.

Initially launched in the UK and Belgium earlier this year, this service now allows residents in Spain with any debit or credit card issued by any bank or financial entity to seamlessly and quickly send money abroad via their smartphone.

Within a matter of minutes, after a quick verification process, customers can send their first international money transfer to any of the 50 available countries, including the euro zone, several Latin American countries, the UK and the US. The number of countries and currencies will continue to grow.

PagoFX brings together the best of fintech with the smarts and security of a bank as Santander.

Read the full press release via Banco Santander here.