Azimo was an online money transfer company known for offering fast, same-day money transfers at competitive rates. Its primary focuses were speed, simplicity and value. The provider is no longer operating after being acquired by Papaya Global. Here is a list of alternatives worth exploring.
Instarem is known mostly for its mid-market rates, which it only offers for some currencies during certain trading hours. When available, the mid-market rate can make larger transfers in particular more cost-effective. But it doesn't have the same range as Azimo.
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Why pick Instarem instead?
Mid-market exchange rates, but be aware that the zero-margin exchange rate only applies to some currencies during certain hours.
Western Union, like Azimo, is focused on smaller transfers and making international payments simple and accessible for everyone. It offers more options, but at an extra cost.
Why pick Western Union instead?
Cash payment and pick-up options
Thousands of agents worldwide
Instant transfer options
Wide range of currencies and countries
Downsides
Fees vary depending on your transfer amount and destination
OFX specialises in large transfers, waiving fees for transactions over $10,000 and offering extras like forward contracts and limit orders to help users get better rates.
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Why pick OFX instead?
No fees on transfers above $10,000
Wide range of currencies
Forward contracts and limit orders
Downsides
$250 minimum transfer
$15 fee on transfers under $10,000
Exchange rates often aren't competitive
Bank transfers only
You can only see the rates on offer if you have an account
CurrencyFair is mostly known for its competitive fees, consisting of a percentage of the transfer (often as low as 0.25%) plus a EUR€3 or equivalent flat fee. It's also known for its relatively low exchange rate margins, which is made possible through its use of a peer-to-peer marketplace.
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Why pick CurrencyFair instead?
Competitive rates
Simple, low flat fees
Downsides
Limited currency options
Limited range of countries available
Bank transfers only
Slow transfers compared to Azimo
Margin will be slightly higher if you can't be paired with someone in its peer-to-peer marketplace
TorFX doesn't charge any fees and instead takes a cut from exchange rate margins. Plus, it has a price beat guarantee for competitor exchange rates.
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Why pick TorFX instead?
$0 transfer fee
Competitive rates, plus a price beat guarantee
Downsides
Slow transfers compared to Azimo
Fewer currencies available
Bank transfers only
You can't send less than $2,000
You can only see exchange rates if you have an account
Like Azimo, MoneyGram is also focused on quick, cheap and easy money transfers. Its fees and rates aren't necessarily as competitive for all transfers, but it offers a range of extra options where Azimo doesn't.
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Our table below lets you compare services you can use to send money abroad. Compare fees, exchange rates and discounts from different money transfer services, and when you have made your choice, click Go to site.
Andrew Munro was the global cryptocurrency editor at Finder. During his time he covered all aspects of cryptocurrency and the blockchain. Before he became cryptocurrency editor, he was a content writer for Finder covering various topics over his nearly 5 years in the role. Prior to joining Finder he was a web copywriter. Andrew has a Bachelor of Arts from the University of New South Wales.
What are the best options for sending or receiving a large amount of money overseas? Read this $50,000 case study with exchange rates and fees comparison.
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