Azimo is a money transfer service founded in October 2012 by Michael Kent, Marta Krupinska, Ricky Knox and Marek Wawro. It has its headquarters in Amsterdam, Netherlands after it moved from London, UK. It is regulated by the Financial Conduct Authority in the UK. You can send money to over 190 countries in over 80 different currencies.
It is worth noting that Azimo is not available in the U.S. Hence, you may need to find alternative cash transfer services. It only accepts customers from the UK and Europe.
To open an account, you will need to provide proof of address using a utility bill and photo identification. You can use a passport or driver license for identification. This is Azimo review and what you need to know.
How Azimo Works
Azimo is available only within the Eurozone and the UK. Azimo is best suited for transfers below 4500 GBP or 6000 EUR. It can support transfers in over 200 countries through other payout methods like bank transfers, mobile wallet transfers, credit card transfers. You can open a personal account or a business account on Azimo.
You can use Azimo Business if you have a small business to pay your employees overseas. Azimo Business supports 189 countries. You can access Azimo banking through their website or App that is available on Google and Apple Store.
You can fund your Azimo transfer using a debit or credit card or bank transfer. If you are in Austria, Belgium, Germany, Italy and Netherlands, you can use SOFORT. You can also use iDEAL if you are in the Netherlands.
Types of Azimo Cash Transfers
You can make five types of cash transfers through Azimo. Among them are:
- Bank transfers. Azimo has partnered with some banks. For instance, it has partnered with Diamond Bank, Zenith Bank, First Bank, and UBA in Nigeria. You can transfer money in GBP, USD and EUR using SWIFT.
- Cash pickups. Azimo has over 200,000 pickup locations through its partnership with banks to provide cash pickup services worldwide.
- Mobile Wallets. For instance, Azimo has partnered with M-Pesa for money payouts.
- Home delivery. In the Philippines, you can get cash delivered to your doorstep within 24 hours.
- Mobile air time top-up. You can use Azimo to top up a recipient's airtime to make calls and send messages.
You can also make credit card, debit card, or SOFORT Uberweisung transfers. It is worth noting that you can only use SOFORT when sending a maximum of 999 EUR from Austria or Germany.
Read also: WorldRemit Reviews.
Azimo App Review
You can download Azimo App from Google Play Store or Apple Store. You can use the app to open an account, send money through bank transfers, or pick up locations. You can also use it to track cash transfers, while you can also view the transaction history. You can check the exchange rates and transfer fees before initiating a transfer.
Read also: Revolut Reviews.
Azimo Exchange Rates
Azimo fees are just like those of many other money transfer services. Azimo charges a margin above the mid-market rates and interbank rates. Their conversion rates range between 0.01% and 2.25%. However, their exchange rates are far much fair compared to those offered by most banks. You can get Azimo voucher to enable you get 10 euros off for the first transfer.
Azimo does not have hidden fees and you can check how much the recipient will receive before you can initiate a transfer. You need to be aware of hidden fees that are associated with bank fees. They can increase your charges significantly
To fund your transfer using a credit card will cost you 2.99 GBP, which is expensive. However, it is worth noting that transfers funded from credit card are fast. Those funded by bank are cheaper but slow. The average transfer fees for Azimo are 1.99 euros.
How Long Does it Take to Transfer Money?
Transfer speed with Azimo varies depending on the transfer method. For instance, if you fund your transfer from a bank while in the UK, it can take 1 business day. within the Eurozone, it will take 2 business days. The delays are caused by banks and not Azimo.
On the other hand, transfers using credit or debit cards are completed within 10 minutes. Unfortunately, Azimo does not support instant money transfers.
Once a transfer is complete, you will receive an email or push notification. It is important to note that card transfers are faster compared to bank transfers. The maximum transfer limit is 250,000 GBP.
Azimo Customer Service
You can reach Azimo customer support through live chat or email. Email support is available to non-customers. However, they do not have phone support. Their services are translated into different languages like Russian, English, Polish, Italian, French, Romanian, Portuguese and Spanish.
Read also: Venmo Reviews.
- You can transfer cash to over 200 countries.
- Multi-lingual customer support
- Low fees and competitive rates
- New customers make the first two transfers free of charge.
- Fast cash payouts
- Azimo does not have phone customer support, while the email support is limited to weekdays.
- It takes a day or two for verification.
- In case there is a transfer cancellation, it takes some time to get a refund.