Which money transfer service has the best exchange rates?

The money transfer companies that offer the mid market rate are the ones that have the best exchange rate. These companies typically also charge a service fee so depending on how much you are sending, they might not be the cheapest option. Click here to compare the exchange rates, fees and total costs of safe and reputable money transfer companies.

What is the cheapest money transfer service?

Unfortunately there isn't one money transfer service that is always the cheapest. It really depends on what currency you are sending, how much you are sending and how the person in the other country is going to receive it. To compare your options and find a cheap option, click here .

How does it actually work?

Using a money transfer service usually involves 3 steps: Setting up your account. Make sure you have some I.D. handy as most services will ask for something to identify you Entering the details of the person you are sending the money to Paying the money transfer service for your transfer Once you've paid for your international money transfer, the money is sent overseas.

How long does it take?

There are several factors that affect how long it takes for money to reach your recipient. It can take anywhere between 2 minutes and 2 weeks but most international wire transfers are completed in 2-3 days. To find out more, click here .

Do all money transfer companies have a cell phone app?

Most online companies do. When you have an account with any of the online money transfer services highlighted above, you can make transfers through their website, or via their iOS Apple and Android apps. However, some are easier to use than others. Click here to learn more about the best money transfer apps .

Azimo Review 2020 - When Is It Best For International Money Transfers?

With Azimo you are able to send money from these countries - the UK, Australia, Austria, Belgium, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.

Countries they specialise in are China, Colombia, Moldova, Nigeria, Pakistan, Phillipines, Poland and Thailand. They are very fast and offer very competitive exchange rates and low fees to these countries.

Like all money transfer companies, Azimo makes its money from charging you in two ways:

Flat fee for international transfers
Exchange rate margin

How much you pay depends on the amount and which country you're transferring your money to.

Azimo charge slightly above the market exchange rate, which you see on Google. This is normal for money transfer companies. It varies between 1 - 3%.

Banks, on the other hand, start their exchange rate margin at +3% above the market rate and airports start their exchange rate at +6%. In addition, banks and airports charge a hefty transaction fee between $10 - $35. Azimo charges a very low flat fee under $10.

Here’s what you need to do:

Register with your full name, address, email address and select a password. This can be done on their website, through Facebook or Google+
Next supply your address and date of birth. These must match your id
Send in your id for verification (passport, National ID card, driving license or residence permits from the EEA and Switzerland)
Select the currency you wish to send and the method, the details of the person receiving the money and your transfer amount
Choose your payment method, state the purpose of the transfer
Pay Azimo. You will receive your receipt and tracking number

How long does a money transfer take with Azimo?

Around 95% of Azimo’s transfers are delivered within 24 hours.

Deposits to mobile wallets and Airtime top ups are instant
Cash delivery is instant to more than 200,000 locations worldwide
Direct to bank, SWIFT transfers and home delivery can take up to 24 hours
Bank transfers can take up to 48 hours

Furthermore if you live in China you can enjoy instant transfers with AliPay because Azimo has integrated with China’s leading payments platform. Azimo users will only need their recipient’s AliPay ID to make an instant transfer in yuan.

Azimo advise that if your money transfer has not been delivered in 3 business days and you have not heard from them, to contact their support team immediately.

TrustPilot customer reviews for Azimo

You shouldn’t just rely on our review of Azimo, it’s also worth exploring what other customers say. We read some customer reviews on TrustPilot. For starters, more than nine in ten customers said that Azimo was “Excellent” or “Great.”

Positive reviews focused on secure and quick transfers:

“Azimo has been a reliable source for the secured transaction. It rates have no equal with others and their customer service is very helpful when you are in need of their services at your distress time, If no network issue, it takes 1 or 2 mins to complete a transaction. I love Azimo and will continue to proud of Azimo. It leads others to follows.”

Negative reviews mentioned delays in transfers and refunds. It is pleasing to see almost all of these reviews were followed up with a response directly from Azimo.

All in all, Azimo scores very well, with a TrustPilot TrustScore of 4.6 out of 5, after 43,000 reviews.