Personal Features

WorldRemit

67

67

WorldRemit offers

WorldRemit is tailored for individuals with account services that include:

  • Foreign bank transfers
  • Cash pick-up
  • Foreign bill payments (ie electricity, credit cards and television services)
  • Pre-paid mobile credit top-ups
  • Recurring / regular transfers are also supported

Note: bill payments and cash pick-up services are not available in all countries.

WorldRemit has two unique features. These are:

  • Mobile money - Shop in-store, online and withdraw cash at authorised agents
  • WorldRemit Wallet - Money can be received through their vast global network into a multi-currency wallet

 

WorldRemit does not offer

  • Travel debit cards
  • Access to a personal account manager (helpful when transferring large sums of money)

Azimo

33

33

Azimo gives individuals and businesses from across the EEA easy access to international money transfers.

What Azimo offers

  • International money transfers
  • Cash pick ups
  • Mobile wallet and mobile airtime top ups
  • Home delivery (only in the Philippines)
  • Payments to AliPay in China

What Azimo doesn’t offer

  • Account managers
  • Regular transfers
  • Travel cards
  • Currency hedging tools
  • Unique local multi-currency accounts
  • Digital wallets

WorldRemit wins!

WorldRemit scores better in the Personal Features category.

WorldRemit
Ribbon Icon
Winner

Business Benefits

WorldRemit

0

0

WorldRemit does not provide a business service, although WorldRemit could be used for business transfers. The Mobile Wallet could be used for business, however it may not be suited for this purpose.


Azimo

11

11

Azimo's services for business clients are limited to basic money transfer services. 

What Azimo for business offers 

  • International money transfers
  • Repeat transfers
  • Better rates for transfers over £1,000

What Azimo for business doesn't do

  • Business specialists
  • FX-optimized travel cards
  • Currency hedging tools
  • Digital wallets
  • Unique local multi-currency receiving accounts
  • Solutions for online sellers
  • Accounting integration

Azimo wins!

Azimo scores better in the Business Benefits category.

Azimo
Ribbon Icon
Winner

Fees & Exchange Rates

WorldRemit

46

46

WorldRemit Fees

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 signing up via iCompareFX receive 3 transfers fees for free using the code 3FREE


Azimo

4

4

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.


WorldRemit wins!

WorldRemit scores better in the Fees and Exchange Rates category.

WorldRemit
Ribbon Icon
Winner

Ease of Use

WorldRemit

86

86

Registration - Simple and easy through their website or mobile app.

ID verification -  If requested, it is a simple process that can be actioned through their mobile app or via email. Simply upload the requested documentation as photos from your phone. 

Transfer speed -  Speed ranges from instantaneous to up to 2 days. This depends on the country you are sending money to, and if it is a bank transfer or sending cash. 

Payment options - Uploading your funds to WordRemit is also a simple process. With in-country solutions such as Australia’s POLi or via debit card, you can instantly transfer your funds to WorldRemit. This speeds up the entire process of sending money overseas.

Mobile app - There is a WorldRemit mobile app to help manage your transfers end to end.


Azimo

61

61

Signing up - Register using the Azimo app or website.

Payment options -  Bank account transfers, debit cards, credit cards, SOFORT and iDEAL.

Speed - Up to 2 business days, although it can be more in some instances.

Multilingual website - Use the Azimo website in different European languages.

Mobile apps - Available for iOS and Android.


WorldRemit wins!

WorldRemit scores better in the Ease of Use category.

WorldRemit
Ribbon Icon
Winner

Support & Countries

WorldRemit

88

88

WorldRemit supported countries

WorldRemit has an impressive list of supported countries. 

  • Mobile Money - 23 countries
  • Cash pick up - 80 countries
  • Bank transfer - 150 countries
  • Bill payment -  Selected countries
  • Phone support - Multiple languages
  • Multilingual website
  • Local settlement accounts in dozens of countries.

Customer support

There are reports on TrustPilot and through its mobile app reviews of poor wait times to talk to a customer service representative.


Azimo

94

94

Supported payment currencies - GBP, EUR, SEK, NOK, DKK, CHF and PLN.

Supported destination currencies - Carries out transfers in more than 60 currencies.

Customer support - Multilingual support provided via email and chat.


Azimo wins!

Azimo scores better in the Support and Countries category.

Azimo
Ribbon Icon
Winner

Trust & Transparency

WorldRemit

56

56

  • WorldRemit is regulated by multiple financial regulators globally including the FCA in the UK. 
  • Their company structure is sound and customers funds are segregated from their company accounts thereby reducing the risk for their customer.
  • The WorldRemit fee structure for money transfers includes a hidden fee within the offered exchange rate which reduces transparency. This is unfortunately common amongst most international money transfer companies.
  • High TrustPilot rating. However, there are an increasing number of poor reviews. This will be monitored by iCompareFX. 

Azimo

63

63

Regulation - Regulated by financial regulatory bodies in the UK and the Netherlands.

Customer service - Gets a rating of Excellent on Trustpilot. However, there are reviews by customers that complain about not getting adequate customer care.

Exchange rate transparency - Azimo does not have a transparent fee structure. The margin on existing exchange rates can exceed 2% for some currencies.


Azimo wins!

Azimo scores better in the Trust and Transparency category.

Azimo
Ribbon Icon
Winner

The Result

Winner ribbon iconWinner

 WorldRemit

This comparison has swings in both directions with considerable strengths and weaknesses going to both providers.  WorldRemit does better in the Personal Features, Fees and Exchange Rates and Ease of Use categories while Azimo fairs better across Business Benefits, Support and Countries and Trust and Transparency.  The outcome for both is similar average scores.