MADRID- Santander on Thursday launched a money service app in the United Kingdom that will initially be free of fees for transfers of up to 3,000 pounds ($3,740) due to the coronavirus pandemic as lenders try to fend off competition from start-ups in the payments industry.
Santander said its completely owned PagoFX, a low-cost international money transfer service, would be available via a mobile app and allow UK residents with a debit card issued by any UK bank or financial entity to send money abroad from their smartphone with low costs and using real-time foreign exchange rates.
($1 = 0.9207 euros)
($1 = 0.8012 pounds)
(Reporting by Jes?s Aguado; editing by Jason Neely) ((jesus.aguado@thomsonreuters.com; +34 91 585 8339; Reuters Messaging: Reuters Messaging: jesus.aguado.reuters.com@reuters.net))
