UK FinTech Atlantic Money is expanding its money transfer service to the US, Canada, and Australia.

The company, which launched 18 months ago, said that in Canada and Australia it has successfully registered to offer money transfer services to both individuals and businesses.

In the US, Atlantic Money is registered as a federal Money Services Business with FinCEN and will offer its services to businesses under the sponsorship of a federally regulated US bank.

“Operating with the full trust and confidence of our partners and regulators has always been central to our mission of serving customers with reliable, secure fixed fee transfers,” said Neeraj Baid, Atlantic Money co-founder and chief executive. “We are excited to have gained these approvals so quickly, and are looking forward to offering our services in these new major regions.”

Last year, Atlantic Money escalated competition concerns about rival Wise to the European Commission.

The move came after Wise de-listed the company from its price comparison tool, with Atlantic Money alleging the fellow money transfer service denied it access to several third-party price comparison sites.

The company, which claims it provides cheaper services than Wise, said that it was removed from the tool for “not being legitimate enough”, despite being authorised and regulated by the Financial Conduction Authority.

Responding to the news at the time, Wise said was proud to have the comparison tool as part of its website and that it is "not afraid" to list cheaper competitors.

"We decided to remove Atlantic Money for the time being for a number of operational reasons, including queries received from customers about their business," it said, "We take any complaints very seriously.”

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