Send money with Azimo: All you need to know

Azimo Review - Introduction

Azimo is a UK-based P2P money transfer service among the recent successful startups that raised millions of pounds. The service is easy to use, provides almost all destinations from Europe, and offers several delivery methods including cash pick-up and prepaid mobile top-ups. It is one of the cheapest solution in the market, but not advantageous for small amounts of money sent because of their high flat fees.

Azimo History

  • Jan 2012:** Founded
  • Sep 2012:** 1st transaction sent
  • Oct 2012:** 1st external investment
  • Nov 2012:** 1st employee
  • Dec 2013:** Launch Krakow office in Poland

The story behind Azimo

Azimo was founded in 2012 by Michael Kent and Marta Krupinska with the aim of facilitating the money transfers world. Michael has a huge background in money transferring as he previously created SmallWorld, an offline money transfer provider at that time. Marta conducted several projects and as an expat herself she gets bored with sending money home.

  • Azimo gives 10% of their revenues to charities.
  • Firm type: money transfer operator
  • Technology used: P2P
  • Geographical presence: Send EUR or GBP from Europe to more than 190 countries.
  • Payment options: Bank account, credit card, debit card, Sofort, Ideal
  • Delivery options: Bank account, Cash, SWIFT, mobile recharge, ATM, physical delivery
  • Size: 2 offices – 90 employees
  • Security: FCA regulated
  • Trustpilot rating: Excellent

Azimo Rating

  • Pricing: one of the cheapest operator in the market. However, it is not the cheapest for very small amounts to send because of their high flat fees (transfers of around $100).
  • Transfer time: we consider Azimo a fast service as it takes around 2 working days for a bank-to-bank transfer, which is the minimum required for that kind of transfer.
  • User experience: the service works hard to be user-friendly.
  • Market coverage: sending money from Europe to almost everywhere in the world
  • Services: many ways to receive money. Even provides an electronic wallet.

Azimo Exchange rate & fees

Azimo is one of the cheapest operator on the market. However, it is not the cheapest for small amounts sent because of their high flat fees.

You can use this comparison tool from TransferWise to compare the fees from different providers.

Azimo market coverage

Azimo has a continental coverage as it allows to transfer money from Europe to almost everywhere in the world. It has a European coverage because you can send money from the majority of european countries (euros, pounds, swiss francs, Swedish krona and Norway krone).

Azimo services

As of the time of writing, Azimo does not provide additional services besides money transferring. However Payment methods are various (Bank account, credit card, debit card, Sofort, Ideal) and delivery methods are even more various: Bank account, Cash, SWIFT, mobile recharge, ATM, physical delivery.

Azimo Pros & Cons

Pros

  • Send money to almost everywhere from Europe (190+ countries in over 80+ currencies)
  • Several delivery methods including cash pick-up (270’000 locations) and mobile tops-up.
  • Website translated in 10 languages (European countries)
  • User-friendly website: using Azimo is a pleasant experience

To improve

  • Not always the cheapest solution for small amounts sent because of their high flat fees
  • Not a worldwide coverage as it is an European service at the moment

How Azimo works

Steps: on the road of a transfer with Azimo

  • get an online cost estimation
  • signup and fulfill your personal information
  • fulfill your recipient
  • choose the payment method
  • upload documents
  • User experience: user-friendly
  • One ID (passport, national card or driving licence)