Which scores better when comparing XE Money Transfer vs Azimo? See how each provider scores and who wins when comparing their services, fees, supported countries and customer service.
XE Money Transfer
Overall score:
71
71
Azimo
Overall score:
49
49
Personal Features
Business Benefits
Fees & Exchange Rates
Ease of Use
Support & Countries
Trust & Transparency
33
33
XE Money Transfer serves personal customers from a number of countries, giving them easy means to send money to more than 170 countries.
33
33
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.
Both equally compare in the Personal Features category.
56
56
XE Money Transfer gives business clients the option to choose from varied services.
11
11
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.
46
46
Personal customers pay no transfer fees when sending money through XE Money Transfer.
Yes, these come in the form of the exchange rate margin that XE Money Transfer applies on existing mid-market rates.
4
4
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.
79
79
Sign up process - Register online or over the phone, by providing some basic information.
Payment options - Bank account transfers, debit cards and credit cards.
Phone transfers - Initiate transfers over the phone.
Speed - Most transfers process within 1 - 2 business days.
Mobile app - Available for iOS and Android.
ID verification - This process can take 1- 4 business days.
61
61
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.
81
81
Supported destination countries and currencies - XE Money Transfer supports transfers to over 170 countries, in over 60 currencies.
Customer support - Customer support is available via email and over the phone, in English, French and Spanish.
Website languages - You can use the XE Money Transfer website only in English.
69
69
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.
69
69
Exchange rate margin transparency - XE Money Transfer’s exchange rates include margins that customers find out only after confirming their transfers.
63
63
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.
WinnerDespite drawing with Azimo in the personal services areas, XE wins across most of the other sections. The clear standouts for XE are its business offerings and fees and exchange rates.
