AzimoVsTransferWise_Supplied_250x250

Azimo vs TransferWise

Compare Azimo and TransferWise side by side to see which is best for you.

Both Azimo and TransferWise want to make international money transfers cheap, fast and easy. But which does it better?

Find out as we compare them on fees, exchange rates and transfer speeds. At the time of writing, Azimo only lets you send money from the UK or Europe, so you won't be able to use it in Australia.

The fees and rates used in this comparison are accurate as of 27 March 2019.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 1 1 - 2 days AUD 45.00 0.715 USD
7,118
Make online transfers at the mid-market rate with transparent fees in 45+ currencies. Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Azimo is not available in Australia

Unfortunately, Azimo currently only lets you send from the UK or Europe.

Which has lower fees?

Azimo

Azimo says its average fee is GBP£1.99 (roughly AUD$3.70) but also says its fees will vary depending on how much you're sending and where you're sending money to and from. Less common destinations will typically have higher fees.

TransferWise

TransferWise's fees also vary depending on how much of which currency you're transferring where. Its fees largely occupy a similar range to Azimo's but will trend significantly higher for larger transfers because the fees are percentage-based.

Trophy icon
Winner: Tie

Both services have fees in similar ranges. You'll have to compare the fees for your transfer to see which is cheaper for you.

Let's crunch the numbers: Sending €1,000 and €10,000 from Austria to the US

The table below shows how much it costs to send money from Austria to the United States with each service, so you can see how the costs will vary for each provider once you factor in the fees and the exchange rates.

Sending €1,000 from Austria to the US
Azimo TransferWise
Transfer fee €2.99 €4.23
Exchange rate 1 EUR = 1.098 USD 1 EUR = 1.1257 USD
Transfer speed 1-2 days 1-2 days
Total US dollars received US$1,094.70 US$1,120.95
Receiver gets US$26.25 less US$26.25 more
Sending €10,000 from Austria to the US
Azimo TransferWise
Transfer fee €2.99 €34.72
Exchange rate 1 EUR = 1.098 USD 1 EUR = 1.1257 USD
Transfer speed 1-2 days 1-2 days
Total US dollars received US$10,976.70 US$11,217.90
Receiver gets US$241.20 less US$241.20 more

Even with the higher fees, you still get a better deal with TransferWise on both €1,000 and €10,000 transfers.

This value for money comes courtesy of its mid-market exchange rates, which net the recipient over US$25 more on smaller transfers and US$241 more on a €10,000 transfer.

Which offers better exchange rates?

Azimo

Azimo's exchange rates vary depending on where you're sending money to and from, but will often be 2-5% above the mid-market rate.

Here's an example of EUR to CAD:

  • If the mid-market rate is 1 EUR = 1.5078 CAD
  • Azimo's exchange rate might be 1 EUR = 1.444 CAD

This ends up being a margin of 4.23%.

TransferWise

TransferWise makes transfers at the mid-market rate, which is equivalent to a 0% margin. This can make an especially large difference on larger transfers.

Here's an example of EUR to CAD:

  • If the mid-market rate is 1 EUR = 1.5078 CAD
  • TransferWise's exchange rate might be 1 EUR = 1.5078 CAD

This ends up being a margin of 0%.

Trophy icon
Winner: TransferWise

TransferWise has much better exchange rates than Azimo and most other money transfer services. You won't find better exchange rates than the mid-market one.

Which is faster?

Azimo

Transfer times with Azimo vary depending on your location and your money's destination. It will generally take one day to make a deposit from a UK bank account or two or more days from Europe and elsewhere. Credit card deposits are generally instant but will cost more.

Once Azimo receives your money, it may take several more days to arrive at its destination, but once again this can be almost instant if you go for a cash pick-up.

TransferWise

TransferWise transfer times also vary based on location and situation, although it offers express options to speed things up, albeit at extra cost, and you can also pay with a credit card for an instant deposit. But once again, this costs more.

Trophy icon
Winner: Azimo

Both will typically take several days with bank transfers, but by offering cash pick-ups in many locations, Azimo can make it faster than TransferWise can.

General features

Payment methods Receiving options Maximum and minimum transfers Transfer speeds Currencies
Azimo Bank transfer, credit card, debit card Bank account, cash pick-up Minimum: GBP£10

Maximum: GBP£250,000

1 day 90+
TransferWise Bank transfer, credit card, debit card Bank account Minimum: $1

Maximum: $1,800,000

1 - 2 days 30+

Azimo

To get started with Azimo you need to visit the website to create an account. You only need to provide some basic information if you'll only be making smaller transfers. Once you've created an account, you can start sending money. You may be asked for more identification information if you're planning on making larger transfers.

TransferWise

TransferWise requires you to create an account before you can use it. Once you have, you can start making transfers. You'll need to provide some information about yourself before you can start using it for larger transfers.

Bottom line

Azimo has a lot of currencies and a lot of options, but TransferWise is hard to beat for sheer value for money.

Plus, Azimo isn't available in Australia.

Looking for more options?

If you're looking for more options, the table below can help. Just enter the details of your transfer, including the amounts and currencies, and it can show you how much it may cost with different services.

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 200 1 day AUD 0.00 0.712 USD
7,122
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
Go to site Show details
AUD 2,000 1 day AUD 0.00 0.712 USD
7,122
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider. Go to site Show details
AUD 250 1 - 2 days AUD 0.00 0.712 USD
7,122
$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.
Go to site Show details
AUD 1 1 - 2 days AUD 45.00 0.715 USD
7,118
Make online transfers at the mid-market rate with transparent fees in 45+ currencies. Go to site Show details
AUD 1 Within an hour AUD 3.99 0.711 USD
7,112
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details
AUD 3,000 1 day AUD 0.00 0.712 USD
7,121
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
Go to site Show details
AUD 1 1 day AUD 0.00 0.711 USD
7,115
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees. Go to site Show details
AUD 200 1 - 2 days AUD 50.00 0.715 USD
7,113
Exclusive: Finder customers receive $15 off their first transaction. T&Cs apply.
Quick and simple international money transfers with zero-margin exchange rates. There's a flat 0.5% transfer fee for most transfers. Earn loyalty points on sign up, referral and every transaction.
Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Was this content helpful to you? No  Yes

Related Posts

International Money Transfer Offers

Important Information*
TorFX International Money Transfers

TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.

WorldFirst International Money Transfers

Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.

OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
$0 transfer fee on transfers over AU$10,000, $15 flat fee applies otherwise. 24-hour customer service available with a local support team.

TransferWise International Money Transfers

Make online transfers at the mid-market rate with transparent fees in 45+ currencies.

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site