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.
- Competitive fees
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.
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.
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.
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.
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.
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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