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Update: Azimo review score was adjusted from 81.4% to 65% due to many complaints left on our comment section, and a very poor experience dealing with them. We no longer recommend using this service.

Azimo Money Review

Quick FactsPros and Cons
newazimologo

 

Established: 2012.


International Clients: ✘ UK/ Europe Only.


Currencies Offered: 198


Minimum Transfer: £1


Trading via: Online Platform only.


Offices In: UK


Regulation: ✓ Financial Conduct Authority (UK),


Fees: As low as £1-3 (1-3 days); As high as £12 for a 24h SWIFT


Client Reviews: Over 6,000 reviewers, mainly on TrustPilot.


Client Rating: 9 /10 (but several complaints on this website)


Website: www.azimo.com

🏆 Best Startup, Payexpo, 2013

🏆 Finalists, Innotribe, 2013


Our Rating: 65.0%

🔎 View Rating Breakdown


View Better-Rated Companies 

Pros

Transfer from £1
198 Countries
Cheap
Innovative
Loved by Clients
Easy sign-up

Cons

Limited to clients from Europe and the UK
No telephone transfers – Online only
No dedicated currency dealers
Fixed margins – non negotiable


Our Rating: 65.0%

🔎 View Rating Breakdown


 

View Better-Rated Companies 

 

Read More:

Company Information and Credibility


Company Information:  

Azimo, similarly to Transferwise, CurrencyFair and Xendpay, is an online-only remittance platform. It has been getting a lot of positive media attention, as well as investor attention. In its last fundraising round, Azimo has raised an additional $20m, pushing it’s value to $100m.

Azimo, which was established in late 2012, was a success almost directly from the beginning. In fact, it has raised its first million in a seed round in 2013, when it was already serving 30,000 clients who signed up and made a transfer during that year.

Azimo is so exciting because unlike its peers, it allows cash pickup in some countries, and not only bank-to-bank transfers. Another exciting thing with Azimo is the ability to sign up quickly via Facebook login, and then being able to transfer up to £889 every 30 days without providing any further documentation (there’s even a Facebook app!).

Azimo has been featured on mainstream media several times, and always with a positive outlook from the reporter covering them. They were featured in the Financial times, the Guardian, Wall Street Journal and TechCrunch.

Updates:

As referral partners of Azimo we have the chance to test how this company really is. Our rule of thumb dictates that company that won’t handle their partners well are not going to treat treat their customers well. It has been extremely difficult to work with them. They do no pay on time. Their systems are buggy. Their conversion rate is low. We found Azimo to be one of the worst partner programs and we no longer feel the company is “reliable” or “trustworthy” based on that experience.

Regulated By: 

Financial Conduct Authority (UK)


 

 

Awards: 

🏆 Best Startup, Payexpo, 2013

🏆 Finalists, Innotribe, 2013


Conclusion: 

Azimo is a financially sound company with $31.2 in investments, which has been operating successfully for the past 2 years. Their unique bank to bank and bank to cash combination, which can potentially push the large remittances companies like Western Union or Moneygram out of business, is revolutionary.

With everything we read about it in the media, plus 6,000 highly positive reviews of the company on TrustPilot, we could have concluded it’s credible and recommended, but based on our own experiences with them, we cannot recommend them.

Credibility Rating

Client Feedback


Research:

There are 6,000 reviews available on TrustPilot. Average score 9 / 10. Less than 1.5% of them are complaints.

There are sporadic reviews over other review hubs. We couldn’t locate anything with volumes, but we can say we have traced 12 positive mentions of them in forums, and found one complaint about them.

Update: There were several additional reviews by clients that were added below on our comment section. Most of which are bad, describing delays in payment, cancelled payments and the like.


Positive:

More than 90% love Azimo, and that’s why:

  • Money Arriving Quickly
  • Rates close to interbank
  • High level of service
  • Easy to use
  • Reliable online system
Negative:

The complaints we discovered about Azimo were around these topics:

  • Slow payment processing even to Europe
  • Bad exchange rate
  • Poor customer service
  • Site crashing

In addition, we can say that based on our partner referral experience with them, they are extremely slow on payments.


Conclusion:

The vast majority of client reviews are highly positive hailing the company for almost every aspect concerning currency transfers. The most common adjectives used to describe the company were around their promptness and how hassle-free the entire process was.

There are meaningful complaints about the company though. Seemingly the payments are delayed in some cases, and others are being cancelled to no avail. There are also many complaints about the customer support.

From our experience with them, it is very possible that the complaints about slow payments are true. They have failed to pay us our commission on time and keep dragging it indefinitely.

User Rating

 


Read Enough?

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Exchange Rate & Fees


Research:

Fees: Fixed fee of a Pound per transfer for a normal speed transfer (or 3 Euros from Europe); additional GBP/EUR 11 for a speedy transfer.

Exchange Rates: The exchange rates are usually very good, hovering at around 1% mark or lower. In fact, with this particular company it’s even easier to see how it fares against competition with Remittance Prices site from World Bank.

Example: On transfers of 300 GBP to Poland (exchanged into Euros), Azimo is the 3rd cheapest option with a cost of 1.48% (Transferwise is leading the list). That is remarkably cheap considering Azimo allows cash pick up as well – its direct competitor MoneyGream is charging over 7% on the same transaction! 

Example (2): On transfer of 300 GBP to Romania (exchanged into Euros), you will pay 1.68% on your transfer. That is the best price on the market, besides Transferwise, but again this is much cheaper than its cash pickup alternatives (Western Union can charge up to 30% on that transfer in some cases).  

Limits: From €2. In order to send €889 or more every 30 days, you need to verify your account and send appropriate documents, as dictated by


Conclusion:

Azimo’s rates are definitely better than all its traditional competition. In terms of bank to bank transfers, Tranferwise and Currencyfair are usually a bit cheaper, and firms like World First could be a lot cheaper if you are in need of a large transfer, but in its specific segment of bank to cash, it’s the best.

Exchange Rates & Fees Rating

Global Reach & Service


Research:

  • Dedicated Dealer: No.
  • Offices: UK
  • Ways to approach: Email, Telephone.
  • Translations: French, German, Italian, Russian, Spanish, Greek, Polish, Portuguese, Romanian, and Turkish.
  • Accepts clients: UK and Europe only.
  • Currencies Handled: 198 countries.
  • Client reviews: Generally positive about the service they have received.
  • Our experience with them: Poor. Delayed payments. You have to chase them to get your money.

Conclusion:

Azimo is the best in its sector of providing a true remittance solution. In fact, it has translation to many of the top-spoken European languages, and offer an almost worldwide solution, with wider global reach than any of its competitors.

The best part? The withdrawal. Whereas most companies focus on bank to bank solutions, in some countries that is not possible. This is where Azimo’s model really comes into place. Mobile money transfers for developing countries like Kenya where banking system is unstable, and cash pickups all throughout Europe.

On the other hand, the service, based on our experience with them, is poor. If they treat their referral partners poorly, it is only reasonable to believe they treat their clients in the same way.

Global Reach Score

Additional Functionalities


Hedging:

  • None.

You can only make spot transfers.


For Online Sellers:

No Offering


App:

Really good app with full functionality! Easy to transfer money on the go. It’s rated 4.5 stars out of 5 in the Google Play store. The site and the app are both integrated with Facebook, so you can use your Facebook details instead of having to retype them.


Conclusion:

Really good app and a great sign up process, and nothing offered for businesses or large transfers, because they are simply not the target audience.

Special Features Score

Review Summary
  • Credibility Score - 60%
    60
  • Client Feedback - 70%
    70
  • Fees, Exchange Rates - 75%
    75
  • Global Reach, Availability, Service - 60%
    60
  • Added Values - 60%
    60

Bottom Line

Azimo offers a much cheaper solution for cash transfers than anyone else. For bank to bank transfers its rates are just about average. Although many clients praised it with glorifying reviews, some comments on this website have described an horrendous experience with them. Above all, our personal experience with them as referral partners have been poor and thus we cannot recommend them - we only recommend companies we fully trust.

65 %

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37 comments

  1. ADWOA ABRAFI

    CAN I GET EXAMPLE OF AZIMO TRANSFER NUMBER AND THAT IT TAKE MORE THAT A MONTH IN THE BANK IF SOMEONE SEND YOU MONEY
    MY HUSBAND SEND ME MONEY AND IS STILL IN THE BANK WILL IT BE CANCEL WHEN THE MONEY IS STILL IN THE BANK FOR 3 WEEKS

    Posted on February 15, 2016
    • compare

      Hi, thank you! Could you provide more details about this transaction? Definitely sounds unreasonable.

      Posted on February 15, 2016
    • Azimo Affiliates

      Dear Adwoa,

      I have been in touch with our customer service team regarding your query. They have advised that your query was resolved. However, if you still have an issue please contact our customer service at support@azimo.com.

      Kind regards
      Azimo Affiliates

      Posted on November 9, 2016
  2. Alina

    How long time can stay money transfer without pick up ? I mean max days I can pick up money ?month ? Or ?

    Posted on May 9, 2016
    • compare

      We’re not sure Alina. Let us contact Azimo for a reply on that. Thank you for your comment.

      Posted on May 9, 2016
  3. t mehmood

    I paid for transfer immediately and the money was debited straight away. Azimo cancelled the transfer with no reason given. Its been 5 days and they have still not refunded my £1462.77 phone calls are unanswered. Emails are ignored
    I have contacted trading standards to investigate this company
    Your phone is still not working. I have contacted my bank and have been given the faster payments tracer id 00153425632bhrbmjq

    Posted on June 3, 2016
    • compare

      Hello Mehmood. Disturbing case. 5 days isn’t much though. Please do update us whether the money has been refunded to your properly.
      Please note we are a review site and NOT Azimo. So when you say “your phone is still not working”… you mean THEIR phone doesn’t.

      Posted on June 3, 2016
    • Ms O.

      I’m experiencing the same thing but for £69.19.

      Online bank transfer via nationwide and Azimo is claiming not to have received the money. This has been ongoing now since 30th June 2016. Something happened with Azimo’s banking system as a result of many customers trying to get their transfers done before the results of the Brexit vote.

      My money got lost in limbo and I have now asked Nationwide to trace the funds and put it back as it is unauthorised, if Azimo are claiming not to have received it.

      Azimo has been completely useless in resolving this matter. All I know is that they have my money and are claiming they dont. Won’t use them until this is resolved.

      Posted on July 19, 2016
      • compare

        Thank you for your valuable input. Please do update us on this matter. We will also be in contact with them to try and figure out if there’s anything going on.

        Posted on July 20, 2016
  4. Muhammad khan

    I send money to family via Azimo for medical emergency it’s been 6 days money not recived yet and the most amazing thing is that Azimo provided number is fake it’s just take you to automatic advise to email . I email more than 10 no one replies yet … I am very disappointed that atlest contact or answer your customers desperate situation …. This is well out of order … I am going to take this further I am gathering all information for my case .

    Posted on June 14, 2016
    • compare

      Hi Muhammad, please keep up updated! If you can supply more details about that transfer, we can consider lowering Azimo’s rating on our site… definitely unreasonable.

      Posted on June 15, 2016
  5. Thozama Zicina

    I send money on 3 of august to south Africa still now 10th of August the money not received in south Africa. I sent couple of messages but they do nothing about it. I am thinking of referring the issue to legal matter to deal with it.
    Azimo they do care.

    Posted on August 10, 2016
    • compare

      Could you tell more about your transfer in detail please? Thanks. We will try to help you resolve it with our contact there.

      Posted on August 10, 2016
  6. kumbula obasuyi

    I sent £507 to my girlfriend in Cameroon for her education through azimo on the 15th of September 2016
    Azimo provide me with ref number for collection and they said the money is available to pick but when she want to collecting point in buea in cameroon the money is not available,this is about a week plus then I emailed azimo at hello@azimo.com they said that the money will be there very soon but she want back money is not available pls what I do this very upsetting.

    Posted on September 24, 2016
    • compare

      Thank you for your comment. Azimo representatives are invited to have a look. We’ll let them know.

      Posted on September 26, 2016
      • Azimo Team

        Hello,

        Thank you for contacting us.
        We received the confirmation from our local partner in Cameroon that the funds are available and that your recipient has been assisted and she can collect the money today.
        We are very sorry if there has been any issue and we will make sure this will not happen anymore. In the meantime, if your recipient is still not able to collect, please make sure to contact our customer service at support@azimo.com and we will do anything to make sure your recipient can receive the funds you sent them.

        Kind regards,

        Azimo team

        Posted on September 26, 2016
  7. sandra

    I just came to visit my family from Finland and while visiting I got short of money so my husband sent me 1330euro for my return ticket. It’s been 2 days now since I haven’t gotten the money. The transaction number they gave says available for pick up but when I go the Bank here they say there is no money with the transaction number I gave. How many does it really takes for a cash pick up to be ready when sent.

    Posted on November 2, 2016
    • compare

      Hi Sandra, thank you for your inquiry. Where are you located? Are you sure the pickup location is your bank? Usually the money is sent to certain branch stores.
      In some cases these sort of transactions can take more than 2 days but it is really depends to which country the money was sent to.
      Did you try to contact Azimo?

      Posted on November 3, 2016
    • Azimo Affiliates

      Dear Sandra

      Please could you contact me at affiliates@azimo.com, as I would like to look into your query with our affiliate team.

      Kind regards
      Azimo Affiliates

      Posted on November 8, 2016
  8. Barbora Božíková

    Me and my boyfriend made transfer via azimo from english bank account to bank account in Slovakia. They cancelled it with no reason but money didnt return. They didnt reply on my emails and messages and we have waited for our money for 1 month!

    Posted on November 2, 2016
    • compare

      Hello Barbora, that is absolutely ridiculous. Unacceptable. We will take this feedback and incorporate it into Azimo’s review.
      If you would like us to look into send us an email via our contact form on our about us page, and we will contact Azimo on your behalf. They have some explaining to do.

      Posted on November 3, 2016
    • Azimo Affiliates

      Dear Barbora

      I would like to look into this query for you. Please could you contact me at affiliates@azimo.com? Once I have some information from you I can look into this with our customer services team.

      Regards
      Azimo Affiliates.

      Posted on November 8, 2016
  9. andres

    i sent money today via azimo via online banking WITH MY BRITISH BANK but still showing on site as funds not there the ref is VTVQX3 what do i do

    Posted on December 1, 2016
    • Compare - MTC Admin

      Andrew, did you try contacting their support? As you can read on our review, you are not the only one in this position. We aren’t able to help much.

      Posted on December 4, 2016
    • Azimo Affiliates

      Hi Andres,

      Could you solve your problem? If not, I would like to look into this query for you. Please, could you contact me at affiliates@azimo.com? Once I have some information from you I can look into this with our customer services team.

      Regards
      Azimo Affiliates.

      Posted on December 19, 2016
  10. Donato Bilancia

    Tried to send money to Argentina URGENTLY to my family, to let them buy some Christmas presents. Azimo asked me to send them a photo of my debit card, which I promptly did. The process is still pending after many hours, my family will NOT receive money in time to buy presents, and their customer service doesn’t answer me to give an explanation. STAY AWAY from those people if you need a reliable service! If someone thinks my review is a joke, contact me and I’ll give you all the evidence you need. TERRIBLE EXPERIENCE!!!

    Posted on December 23, 2016
    • Compare - MTC Admin

      Thank you for your input Donato; I am afraid to say we are not surprised at all with this.

      Posted on December 23, 2016
    • Azimo Affiliates

      Hi Donato,

      Could you solve your problem? If not, I would like to look into this query for you. Please, could you contact me at affiliates@azimo.com? Once I have some information from you I can look into this with our customer services team.

      Regards
      Azimo Affiliates.

      Posted on January 9, 2017
  11. Markus Qreini

    I have made a transfer of EUR 500.- to Sri Lanka a month ago. The money never reached the recipient and a cancelation was not successful by now. Customer service wrote:

    Unfortunately, due to our local partner’s issues we have not been able to cancel the transaction for the moment.

    We have sent a reminder and put emphasis on resolving this situation as soon as possible. We will get back to you when we have more details and a solution.

    Seems azimo has lost control over their international partners.

    Posted on December 23, 2016
    • Compare - MTC Admin

      It is definitely possible… Could you provide more details on the situation so Azimo could comment on that?

      Posted on December 23, 2016
      • Markus Qreini

        My transfer SF35A6  was still not cancelled nor was it delivered. Azimo doesn’t know where the money is. Moreover now they issued a “receipt” consisting of a simple web graphic, saying that the money has been collected: No original documents were supplied. This way they are further delaying the refund. Customer Service wrote :

        Dear Sir,

        Thank you for contacting Azimo.

        We are sorry again for the situation.

        Unfortunately, according to our local partner the transfer was collected on Friday, which means we must get confirmation of the cancellation before we issue a refund.

        We have resent a request to our partner in order to receive more details on the matter and we will inform you as soon as we have a satisfying answer.

        Thank you for your understanding in this delicate matter, we will do our best to resolve it.

        In the meantime we wish you a Happy New Year.

        Kind regards,

        Posted on January 6, 2017
        • Compare - MTC Admin

          Thank you for your input. Very worrying indeed. We have modified their score to “not-recommended”.

          Posted on January 7, 2017
        • Azimo Affiliates

          Hi Markus,

          I have spoken to our Customer Service Team about your transaction. There are updates about it. Could you please contact them at support@azimo.com. They will take the necessary steps to solve this for you. Let me know if I can help you with something else.

          Have a nice day!

          Posted on January 9, 2017
          • Markus

            Update:

            After posting this here and additionally on Trustpilot Azimo has reacted and refunded my money immediately and in full. Well .. this doesn’t make it a great service – in my case, but at least there’s development.

            Thank you all for your support.

            Posted on January 10, 2017
          • Compare - MTC Admin

            Markus, thank you for keeping us up to date. We are glad to have helped you retrieve your funds. Did you have any more positive experience with any other company?

            Posted on January 11, 2017
  12. Markus

    Yes, indeed. After that unscuccessful first transfer I have sent money through transferwise to the same recipient. They don’t offer cash pickup, but delivered the funds within 2 days to a Sri Lankan bank account. Everything went smooth. Good experience.

    Markus

    Posted on January 11, 2017
    • Compare - MTC Admin

      Very glad to hear that. Cheers!

      Posted on January 11, 2017

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