WorldRemit vs Azimo

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 gives individuals easy access to international money transfers with a variety of payout methods. There are only a handful of currency exchange and transfer companies that provide such services. Azimo doesn’t just transfer money to a payee’s bank account, but also uses foreign agents for cash picks, payment into foreign mobile wallets and mobile credit top ups. 

A unique service that Azimo offers is the ability to send money into China’s Alipay. This could be the decision maker for individuals comparing Azimo and who need to transfer money home to China.

What Azimo doesn’t offer is more of the advanced money transfer and currency exchange services that some individuals may need. Azimo does not provide services such as currency risk management tools, regular transfers or personal account managers for those large money transfers. You may want more of the personal touch instead of an online only money transfer service.

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 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's services for business clients are limited to basic money transfer services. What they do offer is a lower exchange rate margin (think hidden fees) for larger money transfers. Azimo doesn’t provide business centric services that businesses with a global presence need to reduce their ongoing money transfer costs and reduce administration. For example, accounting solutions (e.g. Xero) integration is not available which increases booking keeping administration. Nor does Azimo offer solutions for online sellers operating in a foreign market or unique international receiving accounts for foreign clients to pay locally. 

A list of what Azimo do and don’t offer businesses is below.

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

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 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.

Azimo fees

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.

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 has an ease to use system. It is easy to register, prove identity and start your first transfer. As a basic money transfer service you would expect just that. Their speed of transfers are relatively fast with multiple pay in and payout options. 

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 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 has good global coverage for supported destination countries. Most destination countries support cash pick and mobile top-up. Only the Philippines is supported for cash delivery to the home. 

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.

• 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 is a regulated financial entity within the UK and conducts millions of pounds of funds transfers for individuals and businesses every year.

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.