Most of the WorldRemit fees are within the exchange rate offered. The exchange rate offered can and does change depending on payment type, receiving option and the amount being transferred.
- Bank deposit - 0.5% - 2% depending on the destination country and amount
- Bill payment fee - 1% - 4%
- Cash pick up fee - 1% - 4%
- Mobile airtime top up - 1% - 4%
- Additional fee - $1 - $5 per transfer
New customers from eligible countries signing up through iCompareFX receive 3 transfers fees for free using the code 3FREE. Eligible countries for this free transfer promotion are the USA, UK, Australia, Belgium, Netherlands, South Africa, Sweden, New Zealand, and Norway.
Azimo’s exchange rate fees and additional fees are higher in comparison. Azimo’s exchange rate margin (the additional percentage on top of the current real exchange rate) is also quite high. There are some justifiable reasons why fees to send money for cash pick up as 3rd parties are involved. The lowest cost transfer by making payment through local bank transfer and sending to a foreign bank account will end up costing more.
Transfer fees - The Azimo transfer fee varies depending on the currencies involved, the mode of payment, the transfer method and the transfer amount. Additional fees are approximately €12 (or currency equivalent).
Cash pick up fees - Sending money to an Azimo cash pick up location is typically more expensive than transferring it to a bank account.
Credit / debit card payment fees - Payments made via bank transfers tend to be more affordable than credit/debit card payments.
Fee-free transfers - New personal customers get two fee-free transfers, and the number increases to five for new business customers.
Exchange rate margin - Azimo applies a margin on existing mid-market exchange rates, which can be between 1.5% and 2.25% depending on the currencies being traded.