Azimo Review - Exchange Rates & Fees Calculator and FXcompared’s score

FXcompared Score 4.1/5 Great
Azimo
Rating based on expert reviews by FXcompared
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Rating based on expert reviews by FXcompared
Last updated | January 29th, 2020

About Azimo 

Azimo is an online money transfer provider with a focus on mobile transactions. They work with the top banks and payment providers to ensure the safe delivery of your money and a fast and convenient payout. Founded in October 2012, London-based Azimo has had a strong impact on the money transfer space. One of their main differentiators from competitors is their focus on mobile international money transfers. Azimo has successfully raised multiple rounds of funding and continues to expand its currency routes. Its business model is built around offering lower-cost transfers, suggesting that we will be seeing much more from them in the future. Compared to other money transfer services, they offer a competitive range of currencies.

The company provides its services to customers in countries throughout Europe, Asia and the Pacific, the Americas, and Africa, via its online and mobile platforms. Customers can send money abroad online or through their mobile device, direct to a recipient’s bank account, mobile device, or for cash pickup. Azimo offers low fees, is authorized by the Financial Conduct Authority (FCA), and licensed by HM Revenue and Customs (HMRC) as a Money Services Business (MSB).

Azimo Fees and exchange rate

FXcompared Score 3.1/5 Good
Azimo
Rating based on expert reviews by FXcompared
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Azimo Fees and exchange rate

Competitiveness on FXcompared for low value transfers e.g. sending GBP200
Azimo is rarely the cheapest option for low-value transfers
4/5
Competitiveness on FXcompared for medium value transfers e.g. sending GBP10,000
Azimo is competitively priced for medium-sized transactions
4/5
Competitiveness on FXcompared for high value transfers e.g. sending GBP250,000
Azimo is competitively priced for larger transactions
2/5
Does FXcompared have direct access to the pricing
FXcompared receives pricing direct from Azimo
1/2
Is it possible to lock in future exchange rates
No, but you can lock in a rate at the time the transfer is placed
0/1

Azimo has reasonable fees and exchange rates, although they are not necessarily the cheapest option available. They charge either a fixed or variable fee, depending on the countries you are sending from and to, and the currencies involved. Furthermore, the exchange rate offered will depend on the payout method you require, so there are a few variables to consider. The exchange rate is locked in at the time you make the transfer. There are not usually any additional bank charges, but there is a credit card fee (of 2.99% of the transaction value) if you choose to pay by credit card. However, there is a choice of other payment options, which do not incur charges.

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Azimo will offer you

 

  • Fast, convenient transfers from your mobille device
  • A choice of payment methods
  • 300,000 physical locations to collect cash from
  • An exchange rate locked in at the time of the transfer order

 

 

Ease of use

FXcompared Score 5.0/5 Excellent
Azimo
Rating based on expert reviews by FXcompared
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Ease of use

Easy to understand website
The website is clear and easy to navigate
2/2
Simple sign up process (number of steps)
Create an account, enter your transfer details and make a payment
2/2
Easy to setup a transfer once registered
Azimo has a simple transfer set up process
2/2
Provider offers a service that our users often sign up to
Azimo service is popular amongst FXcompared users
2/2
Mobile notifications available on completed transfers
You will get push notifications and emails to help track your transfer
2/2

The Azimo website is easy to navigate, with a clear and attractive interface. There are just a few steps needed to create an account and the process takes less than ten minutes. It is also quick and easy to place orders for transfers, from the comfort of your own home, or when on the go, using the mobile apps. Push notifications and emails are sent out notifying you of the status of your transfer.

azimo mobile.png

Azimo mobile app

Whether you want to talk through your options with our team or move money on the go in a couple of clicks, you’ll always get great exchange rates and five star customer service.

Mobile product

FXcompared Score 5.0/5 Excellent
Azimo
Rating based on expert reviews by FXcompared
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Mobile product

Easy to use mobile website
Clear and responsive for mobile use
2/2
Easy to use mobile app
Apps are highly intuitive and clear
2/2
Can transact in the app
Can transact on the app as easily as on the website
2/2
Range of in-app product offering
The app allows the same functionality as the website
2/2
App store rating
An Apple Store rating of 4.7 and Google Play rating of 4.5
2/2

Azimo offers a responsive mobile website, alongside robust and intuitive apps for both iOS and Android mobile devices. The apps are free from the App Store and the Google Play store. They are well-rated by customers, and are highly popular. The Azimo app has a rating of 4.5/5 on Google Play, with over 15,000 ratings, and 4.7/5 on the App Store, with 14,000 ratings. Most reviewers report that the apps are, secure, reliable and very convenient.

Credibility & Security

FXcompared Score 3.6/5 Good
Azimo
Rating based on expert reviews by FXcompared
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Credibility & Security

Fully licensed and authorised
Licensed by the FCA and in the Netherlands
4/4
Total amount transferred for their customers
Over a billion pounds per year
2/3
Business revenue
Business revenue is estimated at USD 14.2m
2/3
Year on year growth
Azimo announced 80% growth in transactions in 2018
1/1
Number of employees
130
1/1
Head office location
London, UK
0/1
Branded search performance
Good branded search performance
1/1
How long has the company been a partner of FXcompared
FXcompared has worked with Azimo for several years
1/2
How long has the company been established?
2012
2/3
Quality of financial backers
Azimo has raised USD 66m from various high-quality backers, including leading strategic and venture capital groups including Rakuten, eVentures, Greycroft and Frog Capital
2/2
Private or public company
Azimo is a Private Company
0/1

Azimo is authorised and regulated in the UK by the Financial Conduct Authority (FCA) under the Electronic Money Regulations 2011(FRN 900220) for the issuing of electronic money. Azimo Ltd is licensed and regulated by HMRC as a Money Services Business (MSB) Licence Number 12676497. They offer institutional grade security for their service, including 256-bit SSL encryption with a 2048-bit signature.

Business product offering

FXcompared Score 2.5/5 Average
Azimo
Rating based on expert reviews by FXcompared
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Business product offering

Distinct offering for business
Azimo offers business-specific services
2/4
Broader product set for business
Additional products and offers for businesses
2/3
Specialised team to support businesses
Yes, dedicated support for business customers
2/2
Receivables product options
Not available
0/1
Marketplace seller product offering
Facilities for marketplace sellers are offered
0/2

Azimo offers savings of up to 90% on money transfers for business clients, and the first five transfers are fee-free. Business clients get exceptional rates and same-day delivery to dozens of countries across the globe. It is easy to set up repeat payments, track transactions with push notifications, and send money to 189 countries, in over 60 currencies. Business accounts can send up to GBP 250,000 in a single transfer and there are no monthly limits.

Product Coverage & Service

FXcompared Score 4.3/5 Great
Azimo
Rating based on expert reviews by FXcompared
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Product Coverage & Service

Number of sending and receiving countries
25 send countries and over 195 receive countries
3/4
Number of available languages
The website is accessible in 10 languages
2/2
Pay in options
Via bank account, debit and credit cards, and online payment methods
3/4
Pay out options
To bank accounts, mobile apps or by cash collections in 300,000 locations
2/2
Additional services
None
1/2
Minimum send amount
Small value payments can be made via Azimo, as low as GBP 200
2/2
Maximum send amount
High-value payments can be made via Azimo, up to GBP 250,000
2/2
Speed and options for speed of transfer
Varies, but on average one working day.
2/2

Azimo provides transfers to over 195 countries from 25 different locations, in over 60 currencies. The company’s services are available in ten languages, including English, French, German, Spanish, Italian, Polish, and Romanian.

You can transfer funds by bank transfer, use a credit or debit card, or use an online direct payment method such as SOFORT. You can transfer to the recipient’s bank account, but there are also cash pickup facilities available in many locations. You will be able to select a cash pickup and choose your location when you place your transfer. The transfer speed depends on where you are sending funds to and from, but transfers are usually completed within one working day.

The minimum sending amount on personal accounts is usually GBP 200, with a maximum sending amount of GBP 250,000. Recipients may occasionally have a set limit on the amount of funds they can receive into their bank account, so check before transferring larger amounts.

Customer Feedback & Satisfaction

FXcompared Score 4.7/5 Excellent
Azimo
Rating based on expert reviews by FXcompared
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Customer Feedback & Satisfaction

Customer help including onboarding
Accounts are easy to set up
2/2
Ease of transfer
Customers find the service easy to use
2/2
Exchange rates
Customers are generally happy with the exchange rates
2/2
Fees
Fees are reasonable
2/2
Solving issues
The team is helpful and quick to solve any issues
2/2
Online/mobile experience
The website and app have full functionality and are easy to use
1/2
Customer service
Most reviews rate Customer Service highly
2/2
Overall experience
The company is generally positively rated in reviews
2/2

Azimo is positively rated in customer reviews, with most customers expressing satisfaction with the service, functionality of the site and apps, and the fees and rates charged. Reviews mention that the service is fast, simple, reliable, and convenient. Multiple customers mentioned that Azimo transferred their funds faster than they expected. Customers are generally happy with the app and the service and appreciate the built-in features such as push notifications, and the locked-in exchange rates.

Customer Support

FXcompared Score 3.5/5 Good
Azimo
Rating based on expert reviews by FXcompared
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Customer Support

How good is the help section on the website?
The help section is comprehensive and clear
2/2
Is there live online support?
For logged-in customers
1/1
Is there email support - and to customers and non customers?
Email support also requires you to log in
1/1
Is there phone support ?
No phone support
1/2
Is the company easy to contact?
Yes, via email through the website or app
1/1
Are FAQs and support available in more than one language?
FAQs are available in 10 languages
1/1
Is there an FX dealer to support customers
No
0/2

Most online reviews suggest that Azimo has excellent customer support. Clients generally have a good experience with customer service, and issues are resolved quickly. However, you will need to log in to access support. You can register quickly, using Facebook or Google if you prefer, and do not need to be an active customer to access support, but the sign up/login is obviously a small extra step.

Transparency

FXcompared Score 5.0/5 Excellent
Azimo
Rating based on expert reviews by FXcompared
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Transparency

Is there an explicit exchange rate margin in the total cost of transfer?
It is included as part of the cost
2/2
Are the fees easy to understand?
Fees vary but are easy to understand
2/2
Does the company combine fees and exchange rate or clearly broken out?
Fees are separate from exchange rates
2/2
Is a real time quote available without registering?
You must register to receive a real-time quote
2/2

Customer reviews mention that Azimo is clear and upfront about transaction costs. Charges and exchange rates vary, depending on the countries you are sending from and to, the currencies involved, and the payout method you choose, so there are a few variables to consider. However, Azimo discloses all fees in advance, locks in your exchange rate at the time you make the transfer, and there are no hidden bank charges. There is a credit card fee (of 2.99% of the transaction value) which Azimo discloses.

Alternatives to Azimo

Below are some other money transfer providers similar to Azimo

WorldRemit
Rating based on expert reviews by FXcompared
Go to WorldRemit
MoneyGram
Rating based on expert reviews by FXcompared
Go to MoneyGram
Western Union
Rating based on expert reviews by FXcompared
Go to Western Union

Compare Other Currency Rates

Need payment solutions for your business? Click here to use our business tool >

Compare to quote from your bank >


Other International Money Transfer Quotes

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

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FXcompared
Score
Amount Received
USD $12,392.23
GBP £254.35
saved vs. banks

OFX (UK)

Est. 1998

OFX (previously UKForex in the UK), provides secure and speedy international money transfers to over 300,000 people in 55 currencies at better-than-bank rates

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Amount Received
USD $12,202.36
GBP £101.90
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TorFX

Est. 2004

Excellent exchange rates | No transfer fees | Thousands of 5 star reviews 

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Amount Received
USD $12,392.23
GBP £254.35
saved vs. banks

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

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FXcompared
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Amount Received
USD $12,245.26
GBP £136.35
saved vs. banks

Currencies Direct

Est. 1996

Great exchange rates | Specialist services | No added fees, 24/7 transfers | Safe and secure

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Amount Received
USD $12,392.23
GBP £254.35
saved vs. banks

Global Reach (formerly FC Exchange)

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

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Amount Received
USD $12,342.41
GBP £214.35
saved vs. banks

RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
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FXcompared
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Amount Received
USD $12,348.64
GBP £219.35
saved vs. banks

Western Union Business Solutions

Est. 2009

The Personal Payments team at Western Union Business Solutions look after the overseas currency requirements for private individuals.

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Amount Received
USD $12,267.68
GBP £154.35
saved vs. banks

Currency Solutions

Est. 2003

Currency exchange specialists ranking No.1 on Trustpilot for the past two years

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Amount Received
USD $12,353.62
GBP £223.35
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
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Amount Received
USD $12,348.64
GBP £219.35
saved vs. banks

Rates From The Average UK High Street Bank

Est. 1934

Banks are the most expensive way to do an international money transfer, the quotes from the providers above show you the typical savings that can be made. All providers on FXcompared.com are regulated in the UK  by the FCA, in the USA by FinCEN, In Canada SSC and Australia, ASIC.

We check all rates regularly and this quote is an actual quote of the average from UK banks for this month. It includes all major and small banks. Lloyds, Barclays, HSBC, Santander, NatWest, RBS, Coutts, Handelsbanken, Metro bank and more - tracked every month. We obtain our rates via our IMTI platform.
 

More InfoLess Info
Amount Received
USD $12,044.50
No saving vs. banks

PayPal

Est. 1998

Shop with PayPal and you’ll still earn your points, airmiles and cashback. Fees are shown as part of the overall exchange rate.

More InfoLess Info
FXcompared
Score
Amount Received
USD $11,987.46
No saving vs. banks

How can I get in Contact with Azimo?

Azimo does not have a telephone hotline but you can access support via email at anytime, once you are logged into your account.

How do Azimo Money Transfers work?

Making an international transfer with Azimo is simple. You just log in, fill in your transaction details and make a payment. Charges, exchange rates and any sending limit will be displayed at this time. You can track your transfer on your mobile.

Is there an Azimo App?

Yes. You can download the app for free from the App Store or Google Play. It is easy to install and use. Reviews of the apps are excellent, with high customer ratings, for both versions.

Is Azimo Reliable?

Azimo is a safe, secure, trustworthy and legitimate money transfer service. It is authorised and regulated by the FCA in London. Customer reviews show high levels of satisfaction with the reliability of the service.

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Why you can trust FXcompared's reviews

FXcompared's goal is to help you find the best money transfer provider for your needs. 

We have been comparing money transfer companies longer than anyone else (over 10 years) and work with the leading money transfer providers across the globe.

We have deep knowledge of the money transfer sector including our own data and intelligence arm allowing us to provide the level of in-depth reviews and analysis we have offered here.

We have had a relationship with Azimo for a number of years  which allows us to access their exchange rate and fees information and we have many checks in place to ensure this is accurate. Partnerships with providers likes Azimo help us provide our site and services free of charge to our users.

 

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.