Azimo’s peer-to-peer (P2P) money transfer service is designed for those living in the United Kingdom and Europe who want to send money abroad to their family and friends. The platform is easy to use, the transfers are low in cost, and the delivery options include cash pickup in some countries.
As an introductory bonus, your first two transfers with Azimo are fee-free. You can see the offer on their webpage.
Azimo: In A Nutshell
|Transfer Limits||Varies by country|
|Transfer Channels||Azimo website|
|Payment Options||Bank account|
Debit or credit card
Online direct payment (ie: SOFORT, Ideal)
|Delivery Options||Bank account|
|Transfer Speed||1 – 2 business days|
Azimo: How It Works
Right now, Azimo only services customers in the United Kingdom and Europe who want to send money to countries outside of their region. Currently, the provider can exchange money in over 60 currencies to more than 195 countries around the world.
First, you’ll need to sign up for a free Azimo account, which is a quick and easy process. Then, follow the simple steps below:
- Set up a transfer by choosing your recipient and how you want them to receive the money.
- Enter the amount of money you want to send and how you want to pay.
- Make a bank transfer to your Azimo account, or you can pay instantly with a debit card, credit card, or direct payment method.
- Azimo will then deliver the money to your recipient immediately, or it can take several business days, depending on the payment and receiving methods.
To comply with regulations, Azimo has to verify your identity for large transaction amounts. Depending on how much and from where you’re sending money, you may be required to provide a copy of your identification, proof of address, and a proof of the source of the funds.
Proof of identity. Eligible documents include passport, national ID card with photo, driving license or resident permits (from UK, France, Spain and Germany only).
Proof of address. To verify your address, you can submit a copy of a reliable institution that shows your name and your address. Eligible documents include, but are not limited to, a utility bill (but not mobile phone bills), a bank or credit card statement or letter, a landlord letter or bill, and an employment letter.
Proof of funds. Eligible documents include, but is not limited to, a pay-slip, a bank statement, a screenshot from electronic banking, a credit card statement, a tax rebate receipt, a house sales receipt, a car sales receipt, and a bank loan document.
Azimo: Fees & Rates
Azimo, like other international money transfer providers, make money two ways: off of transfer fees and by taking a margin on the exchange rate.
The company charges a variable fee from £1, depending on payment and destination countries, as well as pay-in and payout methods.
These numbers also vary by pay-out method and is typically between 1% to 2.25%. In contrast, banks usually charge 5% -10% margins. With Azimo, you can lock in your rates in advance, so you know exactly how much money your recipient will be getting.
Azimo: Transfer Speed
Azimo might not have that many currencies to choose from when sending money, but it makes up for it with transfer speed, especially for smaller transactions funded by debit or credit cards. With this combo, your transfer will deliver quickly.
For transactions funded by bank transfer, it takes time to move the money from the sender’s account to Azimo’s, then from Azimo’s banking partner account to your recipient. As such, bank transfers usually take up to two business days.
Azimo offers a straightforward service that lets people from the United Kingdom and Europe make quick, easy and low-cost payments to almost anywhere else in the world. The provider specifically focuses on simplicity and ease of use, rather than confusing its customers with complex functionality.