[{"data":1,"prerenderedAt":818},["ShallowReactive",2],{"project-30612003":3},{"id":4,"name":5,"line":6,"line_source":7,"title":8,"url":9,"domain":10,"maker":11,"posted_at":12,"year":13,"points":14,"comments":15,"rank_in_year":16,"shown_in_year":17,"top":18,"tier":19,"category":20,"subcategory":21,"format":22,"keywords":23,"reception":27,"sentiment":28,"stance_mix":29,"scored_comments":34,"aspects":35,"strip":49,"post_text":50,"what":51,"said":88,"maker_in_thread":207,"shape":219,"grid":223,"attempts":779,"same_week":780,"maker_shows":47,"maker_hidden":810,"reader_version":811,"card":812},"30612003","Atlantic Money","World’s first £3 flat fee (0% FX markup) money transfer service","title","Show HN: World’s first £3 flat fee (0% FX markup) money transfer service","https:\u002F\u002Fatlantic.money","atlantic.money","wdaareg",1646812710,2022,182,212,322,2570,13,"notable","finance_crypto","money transfer","mobile_app",[21,24,25,26],"international transfer","fx fees","currency exchange","mixed",-0.116,{"positive":30,"neutral":31,"mixed":32,"critical":33},22,61,5,37,125,{"pricing":36,"docs":38,"privacy":41,"idea":44,"execution":46,"design":48},{"positive":18,"critical":37},20,{"positive":39,"critical":40},0,4,{"positive":42,"critical":43},1,7,{"positive":42,"critical":45},3,{"positive":47,"critical":42},2,{"positive":42,"critical":42},[42,42,42,45,39,39,42,47,47,32,47,42,32,32,47,45,42,32,47,45,32,32,40,32,47,47,45,42,40,42,45,45,40,45,45,42,40,45,45,42],"Good morning everyone! My co-founder and I recently moved to the UK after working at Robinhood for over 5 years. We were stunned at the fees it was costing us to move money across borders with existing fintech solutions, so we decided to start Atlantic Money - the world’s first fixed fee (with no FX markup) money transfer product. For £3 you can transfer up to £1M. Let us know if you have any questions!",{"problem":52,"audience":61,"pricing":70,"motivation":77,"time_to_build":83,"stack":84,"openness":85,"stage":86,"team_size":87},{"value":53,"source":54,"evidence":55},"High fees and hidden FX markups on cross-border money transfers","maker",[56,58],{"id":57},"post",{"id":59,"by":11,"text":60},"30612379","Global money transfer has to be the place where some companies offer the most opaque fees. It's absurd - and we want to compete hard with those businesses by offering cheaper,…",{"value":62,"source":54,"evidence":63},"UK residents sending larger sums of money abroad",[64,67],{"id":65,"by":11,"text":66},"30613766","Thanks for sharing your story and for the thoughtful feedback BukhariH! We thought a lot about the current players and offerings in the space, and came to similar conclusions…",{"id":68,"by":11,"text":69},"30612419","We're starting with offering services to residents of the UK sending GBP outbound to 9 currencies. We're actively working on our EU license, which will allow residents of UK or…",{"value":71,"source":54,"evidence":72},"£3 flat fee per transfer regardless of amount, plus 0.05% optional express fee",[73,74],{"id":57},{"id":75,"by":11,"text":76},"30612366","We're operating a hub-and-spoke model. Our spokes are domestic bank transfers in and out of the currencies we support. And our hub is a centralized counterparty where we convert…",{"value":78,"source":54,"evidence":79},"Founders paid high transfer fees after moving to the UK from the US",[80],{"id":81,"by":11,"text":82},"30614906","We're trying to put that gravy back into your pocket! These are the exact problems that motivated us to build this product - because we ourselves were forced to pay these fees…",null,[],"unknown","launched","team",{"praise":89,"objections":108,"requests":142,"questions":168,"alternatives":187},[90,101],{"value":91,"source":92,"evidence":93},"Much cheaper than Wise for large transfers","commenter",[94,98],{"id":95,"by":96,"text":97},"30612221","sparsely","I did a quick comparison with Wise (previously TransferWise) This is cheaper for GBP->EUR transactions over £800, but a lot slower (arrives \"Friday\" instead of within 5 hours. In…",{"id":99,"by":11,"text":100},"30621548","Not relative to our pricing! For a £5k transfer we're charging 83% less than Wise. I'm certainly happy to pay 83% less for substantially the same service :)",{"value":102,"source":92,"evidence":103},"Clean focused product approach",[104],{"id":105,"by":106,"text":107},"30613637","phphphphp","A clever solution, nice work. That said, I'm very curious about your long term view on this model as a differentiator. My understanding is that Wise fees are essentially a pass…",[109,120,131,135],{"value":110,"source":92,"evidence":111},"Claim of live rate with no markup is questioned as misleading",[112,116],{"id":113,"by":114,"text":115},"30612939","Youden","\"We always convert your money at the live rate: the rate on Google.\" But this is a lie - I checked. At time of writing, you claim 100k GBP is equal to 131390 USD, while Google…",{"id":117,"by":118,"text":119},"30612359","beefield","Sorry, a bit cranky today. It very much looks like you are just hiding the markup on your fx rate, and not even letting people figure it out by showing your bid\u002Fask.",{"value":121,"source":92,"evidence":122},"Sustainability of flat fee questioned",[123,127],{"id":124,"by":125,"text":126},"30612227","amir734jj","I am worried the 3-euro flat rate is sustainable in the long run. I regularly send money with MoneyGram to family overseas in Armenia and I see that there is a lot of things…",{"id":128,"by":129,"text":130},"30612513","dia80","It's expensive for a reason... Technology, banking fees, compliance department, margin loans... I'd be interested to see your financial model!",{"value":132,"source":92,"evidence":133},"Slower transfers than Wise by default",[134],{"id":95,"by":96,"text":97},{"value":136,"source":92,"evidence":137},".money TLD dislike",[138],{"id":139,"by":140,"text":141},"30613142","nik736","I like the idea, dislike the TLD. Could be the most reliable and serious company, but I won't be using it with a .money TLD.",[143,157,161],{"value":144,"source":92,"evidence":145},"More currency corridors such as JPY, CHF and EUR to GBP",[146,150,154],{"id":147,"by":148,"text":149},"30612516","resheku","any plans to add ¥ transfer to Japan? I'll be relocating there soon and in the meantime have to send some money to the wife",{"id":151,"by":152,"text":153},"30613771","asb","Do you have any plans to offer EUR => GBP?",{"id":155,"by":11,"text":156},"30621609","We're absolutely working on expanding our network over time, and CHF is on the list",{"value":158,"source":92,"evidence":159},"Transparency about rate spread and liquidity",[160],{"id":113,"by":114,"text":115},{"value":162,"source":92,"evidence":163},"Web version of the app",[164],{"id":165,"by":166,"text":167},"30612559","3np","Without having checked it out properly outside of the landing page, here's a brain-dump of things that competitors get wrong and you can improve by a lot: ``` 1. Support…",[169,180],{"value":170,"source":92,"evidence":171},"Does it support transfers to the UK or from outside the UK",[172,176],{"id":173,"by":174,"text":175},"30612354","Corinthian","Can you transfer TO the UK? Specifically from Spain and Qatar? I'm literally about to send a huge amount of money home, and it boils me up how much even the reputable money…",{"id":177,"by":178,"text":179},"30612304","gorbypark","Is this only for GBP into other currencies?I use Wise to transfer from my Canadian bank into my Spanish one, would Atlantic.money work for me? Most of the fees I pay are for my…",{"value":181,"source":92,"evidence":182},"How is adverse selection from faster traders handled",[183],{"id":184,"by":185,"text":186},"30612235","oli5679","How do you avoid adverse selection from traders that have lower latency? E.g if £\u002F$ drops from 1.94 to 1.92 can someone aware of this before you convert £ to $ on your platform?",[188,193,200],{"value":189,"source":92,"evidence":190},"Wise",[191,192],{"id":95,"by":96,"text":97},{"id":105,"by":106,"text":107},{"value":194,"source":92,"evidence":195},"Revolut",[196],{"id":197,"by":198,"text":199},"30612477","NiekvdMaas","Revolut has the same currency pair sample on their website, and it's a few bucks cheaper: https:\u002F\u002Fwww.revolut.com\u002Fcurrencies",{"value":201,"source":92,"evidence":202},"Monito comparison site",[203],{"id":204,"by":205,"text":206},"30613797","briodf","Great to see more and more competition in the money transfer space, congrats on the launch. Here's a little comparison by amount received (incl. all fees) with the cheapest…",{"comments":33,"answered":208,"key":209},23,[210,213,216],{"id":211,"text":212},"30614875","We appreciate the critical feedback - keep it coming. It's good to talk about these topics in the open. We'll be sure to work on this to make sure there is clarity around this…",{"id":214,"text":215},"30614787","Check out CBOE FX (https:\u002F\u002Ffx.cboe.com\u002F) and EBS (https:\u002F\u002Fwww.cmegroup.com\u002Ftrading\u002Fmarket-tech-and-data-services\u002Febs\u002Faccess-methods.html). Settlement and trading of FX may often…",{"id":217,"text":218},"30614740","The business model is that our costs are fixed at much lower than 3GDP, and so we can offer that price profitably.",{"commenters":220,"max_depth":43,"maker_replies":33,"first_comment_mins":221,"lifespan_hours":222},112,38,84,[224,226,230,233,236,240,244,248,250,253,254,256,258,261,265,268,269,273,275,278,281,284,287,289,292,294,296,298,301,304,306,309,311,315,318,321,323,326,329,332,334,337,341,345,348,351,354,356,357,360,363,366,369,372,375,377,380,381,384,387,390,393,396,399,401,405,408,410,413,415,418,421,423,425,427,430,432,435,437,440,443,445,447,450,453,455,458,461,463,467,468,471,473,475,478,482,486,488,490,492,494,496,498,500,503,507,510,512,515,518,520,523,526,528,531,533,536,538,540,542,545,547,548,550,551,553,557,560,562,567,569,573,576,579,580,582,584,586,590,592,596,599,602,604,606,608,610,612,615,617,621,623,624,626,629,631,633,636,638,640,644,646,649,652,654,656,658,659,662,664,668,672,673,677,679,683,685,687,691,693,695,697,701,705,708,711,713,715,720,723,726,730,733,735,738,739,743,745,747,750,752,754,758,760,763,767,771,773,776],[113,39,42,225,114,39],"project\u002Fcritical\u002Fpricing",[227,39,39,228,229,39],"30612956","commenter\u002Fneutral\u002Fpricing","YetAnotherNick",[231,39,39,228,232,39],"30612994","throwaway4good",[234,39,39,228,235,39],"30613518","MikeDelta",[237,39,45,238,239,39],"30613004","maker\u002Fneutral\u002Fpricing","pkavanagh",[241,39,42,242,243,39],"30613785","project\u002Fcritical\u002Fdocs","hutzlibu",[245,39,39,246,247,39],"30613935","commenter\u002Fneutral\u002Fdocs","adhoc_slime",[211,39,39,249,11,42],"maker\u002Fneutral\u002Fdocs",[251,39,39,228,252,39],"30613805","kasey_junk",[214,39,39,238,11,42],[255,39,42,225,252,39],"30615011",[257,39,42,242,114,39],"30613916",[259,39,42,225,260,39],"30616106","panarky",[262,39,45,263,264,39],"30614009","project\u002Fneutral\u002Fpricing","amluto",[266,39,45,263,267,39],"30614457","tecc501",[217,39,39,238,11,42],[270,39,45,271,272,39],"30614649","maker\u002Fneutral\u002Fnone","dotancohen",[274,39,39,271,11,42],"30614753",[276,39,45,277,272,39],"30623809","project\u002Fneutral\u002Fnone",[279,39,45,263,280,39],"30613210","raverbashing",[282,39,39,228,283,39],"30613580","mccorrinall",[285,39,39,228,286,39],"30613792","blunte",[288,39,39,228,283,39],"30632507",[290,39,39,228,291,39],"30613422","ttoinou",[293,39,39,228,114,39],"30613950",[295,39,39,228,252,39],"30614111",[297,39,39,238,11,42],"30614938",[299,39,39,228,300,39],"30615028","323",[302,39,39,228,303,39],"30614248","NovemberWhiskey",[305,39,39,228,11,42],"30614806",[307,39,39,246,308,39],"30613675","WinterMount223",[310,39,42,242,114,39],"30613867",[312,42,42,313,314,39],"30612972","project\u002Fcritical\u002Fprivacy","evgen",[316,42,42,313,317,39],"30613133","YYYdoIdoit",[319,42,39,320,286,39],"30613818","commenter\u002Fneutral\u002Fnone",[322,42,42,313,317,39],"30615493",[324,42,32,325,286,39],"30616210","project\u002Fpositive\u002Fprivacy",[327,42,39,328,317,39],"30616451","other\u002Fneutral\u002Fnone",[330,42,42,313,331,39],"30614211","avs733",[333,42,42,313,317,39],"30615374",[335,42,45,336,239,39],"30613144","maker\u002Fneutral\u002Fprivacy",[338,42,42,339,340,39],"30613720","maker\u002Fcritical\u002Fnone","williamtwild",[342,42,32,343,344,39],"30613830","maker\u002Fpositive\u002Fnone","wil421",[346,42,42,313,347,39],"30614517","IanCal",[349,42,42,313,350,39],"30613859","agd",[352,42,45,353,106,39],"30613697","project\u002Fneutral\u002Fprivacy",[355,42,39,336,11,42],"30621512",[117,47,42,225,118,39],[358,47,39,359,11,42],"30612396","project\u002Fpositive\u002Fpricing",[361,47,32,359,362,39],"30612825","mcjiggerlog",[364,47,32,365,239,39],"30612911","maker\u002Fpositive\u002Fpricing",[367,47,32,343,368,39],"30613760","randogeuebdb",[370,47,39,328,371,39],"30616113","vidarh",[373,47,42,225,374,39],"30638178","easytiger",[376,47,42,225,118,39],"30613228",[378,47,32,359,379,39],"30614696","Gareth321",[204,45,45,263,205,39],[382,45,45,263,383,39],"30618494","mritchie712",[385,45,42,225,386,39],"30632452","vineyardmike",[388,40,39,328,389,39],"30612988","shafyy",[391,40,45,392,239,39],"30613117","project\u002Fneutral\u002Fidea",[394,40,42,395,389,39],"30613429","project\u002Fcritical\u002Fidea",[397,40,39,320,398,39],"30613521","chockchocschoir",[400,40,39,320,389,39],"30618035",[402,40,32,403,404,39],"30614145","project\u002Fpositive\u002Fidea","aorth",[406,40,32,359,407,39],"30613837","bitcoinmonger2",[409,40,39,320,286,39],"30613861",[411,32,32,343,412,39],"30612425","jack_riminton",[414,32,39,343,11,42],"30612456",[416,32,39,320,417,39],"30613642","InCityDreams",[419,32,39,320,420,39],"30617996","IshKebab",[422,32,39,328,412,39],"30624775",[184,424,45,263,185,39],6,[426,424,39,263,11,42],"30612280",[428,424,42,225,429,39],"30612320","londons_explore",[431,424,39,320,174,39],"30612376",[433,424,45,263,434,39],"30612462","Keyframe",[436,424,45,263,429,39],"30613176",[438,424,32,359,439,39],"30612378","opportune",[441,424,42,225,442,39],"30612869","callamdelaney",[444,424,45,263,429,39],"30613306",[446,424,45,263,439,39],"30617246",[448,424,45,263,449,39],"30612381","Icko",[451,424,45,263,452,39],"30612400","caffeine",[454,424,42,225,286,39],"30613908",[456,424,42,395,457,39],"30614526","pjerem",[459,424,42,225,460,39],"30615813","renewiltord",[462,424,39,320,386,39],"30632494",[464,43,39,465,466,39],"30612237","other\u002Fneutral\u002Fpricing","thaumasiotes",[59,43,39,263,11,42],[469,43,32,343,470,39],"30612455","marcusklaas",[472,43,45,263,466,39],"30612471",[474,43,39,263,11,42],"30612525",[476,43,39,465,477,39],"30612497","theptip",[479,480,42,242,481,39],"30613651",8,"aeyes",[483,484,45,392,485,39],"30613680",9,"mfrommil",[487,484,39,320,286,39],"30613840",[165,489,45,353,166,39],10,[491,489,39,353,11,42],"30612722",[493,489,45,353,166,39],"30612785",[495,489,45,353,239,39],"30612934",[497,489,45,353,166,39],"30613020",[499,489,45,353,239,39],"30613135",[501,489,45,353,502,39],"30613492","donalhunt",[504,489,32,505,506,39],"30613370","project\u002Fpositive\u002Fexecution","zhte415",[95,508,45,509,96,39],11,"project\u002Fmixed\u002Fpricing",[511,508,39,263,11,42],"30612248",[513,508,39,320,514,39],"30612251","TedDoesntTalk",[197,516,39,517,198,39],12,"other\u002Fcritical\u002Fpricing",[519,516,39,465,11,42],"30612503",[521,516,39,465,522,39],"30612634","actuator",[524,516,39,465,525,39],"30613420","abofh",[527,516,39,465,389,39],"30612957",[529,516,32,359,530,39],"30612515","jfk13",[532,516,42,225,522,39],"30612565",[534,516,45,263,535,39],"30612592","thesimon",[537,516,45,263,522,39],"30612519",[539,516,39,263,11,42],"30612590",[541,516,32,359,522,39],"30612659",[543,516,32,359,544,39],"30612865","fumblebee",[546,516,32,359,239,39],"30612949",[105,18,45,263,106,39],[549,18,32,359,379,39],"30614743",[81,18,39,263,11,42],[552,18,32,359,106,39],"30614920",[554,555,45,277,556,39],"30612401",14,"someotherperson",[558,555,39,559,11,42],"30612451","project\u002Fneutral\u002Fexecution",[561,555,45,277,556,39],"30612520",[563,564,42,565,566,39],"30614564",15,"project\u002Fcritical\u002Fexecution","rory",[568,564,39,559,11,42],"30615332",[570,571,42,225,572,39],"30613586",16,"dgellow",[574,571,45,263,575,39],"30613676","hawk_",[577,571,39,465,578,39],"30613896","tvaughan",[99,571,39,359,11,42],[581,571,45,263,572,39],"30627356",[177,583,45,277,178,39],17,[585,583,39,277,11,42],"30612321",[587,583,45,588,589,39],"30612736","project\u002Fneutral\u002Fdesign","esperent",[591,583,45,277,502,39],"30613449",[593,594,39,328,595,39],"30612741",18,"villmann",[597,594,39,328,598,39],"30612776","Bellamy",[600,594,39,320,601,39],"30613051","dewey",[603,594,39,328,525,39],"30613434",[124,605,42,225,125,39],19,[607,605,39,359,11,42],"30612266",[609,605,45,263,502,39],"30613453",[611,605,39,263,11,42],"30621571",[613,37,32,359,614,39],"30613905","throwthere",[616,37,39,263,11,42],"30614842",[618,619,45,277,620,39],"30613056",21,"eric_khun",[622,619,45,277,239,39],"30613105",[128,30,42,225,129,39],[625,30,42,225,129,39],"30612521",[627,30,45,263,628,39],"30612752","carnitine",[630,30,45,263,239,39],"30613219",[632,30,39,263,11,42],"30612549",[634,208,45,509,635,39],"30613162","monkeydust",[637,208,45,277,239,39],"30613177",[639,208,45,263,635,39],"30613376",[641,642,45,509,643,39],"30612409",24,"OJFord",[645,642,39,263,11,42],"30612433",[647,642,32,648,643,39],"30612454","project\u002Fpositive\u002Fdesign",[139,650,42,651,140,39],25,"project\u002Fcritical\u002Fdesign",[653,650,45,588,239,39],"30613251",[655,650,45,588,398,39],"30613561",[173,657,45,277,174,39],26,[68,657,39,277,11,42],[660,657,45,277,661,39],"30613588","rurounijones",[663,657,39,277,11,42],"30621584",[665,666,32,359,667,39],"30613408",27,"danielovichdk",[669,670,45,559,671,39],"30612291",28,"FinTechEngINT",[75,670,39,559,11,42],[674,675,45,277,676,39],"30612428",29,"robk",[678,675,39,277,11,42],"30612482",[680,681,45,277,682,39],"30613851",30,"fsniper",[684,681,39,277,11,42],"30621635",[686,681,39,328,682,39],"30654149",[688,689,45,277,690,39],"30612302",31,"dgan",[692,689,39,328,598,39],"30612389",[694,689,39,320,667,39],"30613439",[696,689,39,320,690,39],"30628367",[698,699,45,392,700,39],"30614963",32,"param",[702,703,42,395,704,39],"30614422",33,"zajio1am",[706,703,42,225,707,39],"30615685","supermatt",[709,703,42,225,710,39],"30616101","karaokeyoga",[712,703,39,263,11,42],"30621603",[714,703,42,225,704,39],"30629381",[716,717,45,718,719,39],"30612979",34,"project\u002Fmixed\u002Fdesign","edent",[721,717,45,722,239,39],"30613126","maker\u002Fneutral\u002Fdesign",[724,725,45,559,232,39],"30612980",35,[727,728,32,505,729,39],"30621671",36,"searchableguy",[731,33,45,559,732,39],"30613118","whinvik",[734,33,45,559,239,39],"30613151",[736,221,45,559,737,39],"30617286","mellowagain",[155,221,39,559,11,42],[740,741,45,559,742,39],"30615267",39,"ninjahattori",[147,744,45,559,148,39],40,[746,744,39,559,11,42],"30612540",[748,744,45,559,749,39],"30612959","saheb37",[151,751,45,559,152,39],41,[753,751,39,559,11,42],"30621622",[755,756,45,509,757,39],"30613369",42,"BukhariH",[65,756,39,759,11,42],"maker\u002Fneutral\u002Fidea",[761,756,42,225,762,39],"30616991","cr15",[764,765,39,328,766,39],"30612332",43,"ilaksh",[768,765,39,769,770,39],"30612365","other\u002Fcritical\u002Fnone","allisdust",[772,765,39,328,11,42],"30612369",[774,765,39,328,775,39],"30613907","djohnston",[777,765,39,328,778,39],"30612968","red2awn",[],[781,786,791,796,801,806],{"id":782,"name":783,"points":784,"category":785},"30557557","Berkeley Mono Typeface",355,"creative",{"id":787,"name":788,"points":789,"category":790},"30588089","Chalk",286,"dev_tools",{"id":792,"name":793,"points":794,"category":795},"30539620","DontBeEvil.rip",269,"web_saas",{"id":797,"name":798,"points":799,"category":800},"30577625","Blobbackup",236,"infrastructure",{"id":802,"name":803,"points":804,"category":805},"30554994","Summle",189,"games",{"id":807,"name":808,"points":809,"category":805},"30555274","Fast Flood",188,false,"v2",{"id":813,"name":5,"line":6,"ai":810,"cat":20,"year":13,"points":14,"comments":15,"rec":27,"s":814,"top":18,"kw":815,"maker":11,"domain":10,"tier":19,"attempts":39,"strip":816,"url":9,"mix":817,"praise":91,"objection":110,"sub":21},30612003,-0.12,[21,24,25,26],"1113001225215523152355452231413343314331",[30,31,32,33],1793991042434]