<span style="font-weight: 400">Neeraj Baid and Patrick Kavanagh, former employees of the stock trading company <a href="https://www.cryptoknowmics.com/news/robinhood-will-expand-its-crypto-wallets-beta-program/">Robinhood</a> have launched their money transfer service - Atlantic Money. Baid and Kavanagh claim that Atlantic Money is in the league of Wise and PayPal. Both the founders believe that their application is the world's first fixed fee money transfer service. </span>
<h2><strong>Inexpensive Transfers</strong></h2>
<span style="font-weight: 400">When both Baid and Kavanagh shifted to the US while working under Robinhood, they began sending money back home often. They were surprised by the exorbitant fees that they needed to pay while transferring the money. </span>

<span style="font-weight: 400">When Baid and Kavanagh shared their pleas with other people who were facing the same issue, they decided to make an alternative. </span>
<h2><strong>Workings of Atlantic Money</strong></h2>
<span style="font-weight: 400">Neeraj Baid and Patrick Kavanagh made sure that their application helped solve issues one faced while using other services. Thereby, Atlantic Money charges a fixed fee of £3, regardless of the amount transferred. </span>

<span style="font-weight: 400">Unlike XE and Western Union who rely on variable FX Commission or Wise, which charges variable fees per transaction, Atlantic Money charges 0% FX Commission. </span>
<h2><strong>Targetted Audience</strong></h2>
<span style="font-weight: 400">Although there are drawbacks to other money transfer services, these fintech companies have gathered millions of users. However, Atlantic Money isn't bothered by the number of followers or their revenue. One of the partners, Neeraj Baid claims that users of such leading corporations are not loyal and exhibit varied shopping behavior. </span>

<span style="font-weight: 400">Neeraj Baid and Patrick Kavanagh want to promote their services to a smaller, target consumer base. Baid explains, </span>
<blockquote><em><span style="font-weight: 400">"By doing so, our operational costs drop substantially compared to anyone else in the market."</span></em></blockquote>
<h2><strong>Stepping Into Crypto Space</strong></h2>
<span style="font-weight: 400">Neeraj Baid has been thinking of stepping into the crypto world, after having worked with Robinhood Crypto.</span>
<blockquote><em><span style="font-weight: 400">"One question that we have is can crypto make money transfer faster, cheaper, and seamless? We are tool-agnostic, so if crypto solves the issue, we are happy to go forward with it."</span></em></blockquote>

Ex-employees of Robinhood Launch Their Money Transfer Service

Neeraj Baid and Patrick Kavanagh, former employees of the stock trading company Robinhood have launched their money transfer service - Atlantic Money.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Ex-employees of Robinhood Launch Their Money Transfer Service

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