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Photo by Eduardo Soares on Unsplash

For millions of migrants worldwide, sending money home is a vital act of support. Since its launch in 2002 from a small office in Bolton, Greater Manchester, ACE Money Transfer has made this easier, safer, and more affordable. Operating across 28+ countries—including the UK, EU nations, Scandinavia, Canada, Australia, and Switzerland—with a payout network of over 375,000 locations, this UK-based fintech firm has become a trusted partner for migrant communities, turning remittances into a tool for empowerment.

Rooted in Trust and Innovation

ACE began with a clear goal: make cross-border payments accessible to migrants, especially those supporting families in developing regions. Over two decades, it's grown from a local startup to a recognised name, offering competitive rates—often with zero fees—through a user-friendly digital platform. That dedication has earned it praise, like the 2024 Best Fintech App Award from the UK Business Awards and a finalist nod for Finovate's Best Customer Experience Solution–proof it's striking the right balance between innovation and reliability.

ACE's journey had its fair share of bumps along the way. Early on, ACE faced steep licensing hurdles across its operating countries and the murky competition of unregulated hawala and hundi networks. These informal setups often promise big returns but leave migrants vulnerable to scams or lost funds. ACE tackled this head-on: it rolled out multilingual campaigns to warn users of the risks, partnered with banks for transparent and fair rates, and built AI-driven fraud detection into its system. The result is a service that's both secure and efficient, offering migrants a reliable alternative.

Breaking Down Remittance Barriers

The remittance industry isn't short on challenges—high costs, cyber risks, and gaps in access plague many users. ACE turns these obstacles into stepping stones, crafting solutions that put migrants first.

Additional costs can eat into a migrant's earnings, with global fees hovering around 6%. ACE fights back by linking directly with banks to skip middlemen, offering zero-fee deals on busy routes, and using real-time tools to snag better exchange rates. In 2022, it facilitated over £775.7 million ($1 billion) in remittances to families across more than 100 countries in Asia, Africa, Latin America, and the Middle East. While ACE specialises solely in home remittance services—helping migrants send money to their loved ones—these funds often go towards essentials such as education, healthcare, and daily living expenses.

Security matters just as much. With online threats like phishing on the rise, ACE locks down its platform with biometric logins—such as fingerprint authentication—and AI that swiftly detects suspicious activity. A 24/7 support team, fluent in users' languages, is always available to resolve any issues, providing peace of mind.

For migrants whose families lack bank accounts, ACE bridges the gap with over 375,000 cash pickup points and mobile wallet options, ensuring funds reach loved ones without the need for a formal account. It also shares practical tips through guides and social media, helping users make the most of every transfer.

A Future of Reach and Resilience

ACE has ambitious plans for 2024 to 2026, targeting underserved markets in the Middle East and Africa, where remittances can be life-changing. While blockchain transfers are a future possibility pending regulations, the company is already enhancing its app with AI-powered rate alerts and expanding financial literacy through podcasts, social media, and other educational content.

'We're here to do more than send money—we're helping migrants build stability. Each transfer carries a family's hopes,' a spokesperson for ACE said. It shows in the numbers: £775.7 million ($1 billion) transferred in 2022 alone, fueling countless households worldwide.

Insights From Two Decades

ACE offers valuable advice to fintech newcomers: keep regulators close, prioritise security, and tap local partners to navigate new terrain. It's a strategy that has propelled them from Bolton to the global stage, always keeping migrants at the core.

At its core, ACE Money Transfer is about more than just transactions—it's about transformation. By ensuring secure remittances, reducing costs, and expanding its reach, it helps turn a migrant's earnings into a foundation for their family's future.

About ACE Money Transfer

Headquartered in Manchester, ACE Money Transfer is a globally licensed fintech leader offering fast, secure remittance services to migrants in 100+ countries. With 24/7 customer support and a focus on financial inclusion, ACE ensures families worldwide receive funds safely and affordably.

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