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Azimo Review: Is it legit, safe and trustworthy for UAE citizens and residents?

Azimo is a reputable money transfer and remittance firm that was established in 2012 with the goal of making money transfers inexpensive and quick for all of its clients. To this day, millions of people all over the world trust Azimo to handle their money transfer and remittance needs. Visit Azimo Website.

The goal of the organization is quite clear: to make it possible to send money abroad in a way that is both quick and cheap while maintaining a high level of safety. With its focus on the consumer and its ability to expedite international payments, this innovative firm has brought UK High Street banks to attention. The values of openness, accountability, and efficacy in business processes are important to Azimo. The intuitive user interface has been built with the functionality of short clicks in mind, making it easier to access democratized financial services and to conduct economical transactions.

This corporation is based in the United Kingdom, and its headquarters are located in London. It enables you to transfer money in over 60 distinct currencies to over 200 different nations spread over Africa, Asia, the Pacific, the Americas, and Europe. It has partnered with a number of the most prominent organizations in the Americas, Africa and the Middle East, Asia and the Pacific, and Europe and Central and Eastern Europe. Bank of America, Royal Bank of Scotland, BDO, Santander, and dozens of other financial institutions are among these. The Financial Conduct Authority in the United Kingdom has granted it the necessary licenses and regulations (FCA). The UK's HM Revenue and Customs (HMRC) has granted it the go-ahead to provide remittance services as well as international money transfers.

As a result of taking into account the target market, Azimo has made an effort to control the costs of its transfers by simulating a variety of charge structures and exchange rate margins, each of which is dependent on the country to which clients are sending money transfers.

Transfer Costs– Depending on the kind of transfer, the fees that are assessed by Azimo currency transfer might be either variable or fixed. The method of transferring funds, the method of receiving payouts, and the nations that are involved are the primary factors that will determine the total cost of the transaction. In most cases, the cost ranges from one pound to ten pounds.

Rates of Exchange — Similar to the majority of other providers of money transfer services, Azimo Currency Transfer adds a margin on top of the mid-market or interbank rates when calculating its fees. The margin might range anywhere from one to three percent. When compared to the average interest rate that banks charge, which is 5%, the rate that Azimo offers is significantly lower. They provide their clients the option to "lock in" the rate for the duration of the transfer, which enables them to determine with pinpoint accuracy how much money will be sent to the destination.

Other Fees In general, Azimo currency transfers do not have any additional fees that are not disclosed. The only fees other than the credit card fees that you need to be concerned about are the credit card fees. They can reach as high as 2.99% of the total amount for each transaction. On the other hand, there shouldn't be any fees involved if you use a local bank for both sending and receiving transactions.

Although companies like Wise, formerly known as TransferWise, and CurrencyFair do not add a margin to their exchange rates, the costs that they charge for transfers are significantly higher than those of other providers. Additionally, Azimo has a firm grasp on Africa's remittance corridors, a disbursing network coverage that a limited number of other businesses can boast.

If you are new to the world of online money transfers, we have produced a straightforward guide that will assist you in locating the most expedient means by which you may send money to a foreign country. Continue reading down below to obtain other information around Azimo reviews.

The transmitting network coverage offered by Azimo is rather extensive. Having said that, certain paths see far more foot traffic than others. Users of Azimo's money transfer services from the United States and other countries send money most frequently to the following destinations: Nigeria, Poland, the Philippines, Bangladesh, and Thailand.

When you send packages to these nations from the UK using a bank transfer as the method of payment, the process can take anywhere from one to two days. On the other hand, there is a possibility of holdups on some routes due to verifications and other unanticipated occurrences.

Tweets by Azimo When using the brand-new Azimo Business offering, the countries of Germany, France, Spain, and the United Kingdom are now the most popular senders. On the other side, Pakistan, South Africa, Poland, Hong Kong, China, and Singapore are among the nations that make up the majority of the service's recipients.

You can rest confident that you will receive the assistance you require to complete your transfer since there is a team of 130 people working to ensure that you get it, no matter which remittance corridor you fall into.

The ease of use offered by Azimo has helped to endear the brand to a more diverse group of customers. In addition to its cheap fees and favorable rates, Azimo excels in a number of important respects, including the following:

No minimum amount required — You may use Azimo to transfer as little as one dollar. There is not a minimum amount that must be sent before you can donate more money.
A large sending and disbursing network coverage that provides services to more than 200 nations and territories constitutes high coverage.
Remitters of big amounts and little amounts alike benefit from the low fees and favorable rates offered by the variable pricing model and the fixed cost model.
It shouldn't take you hours to send money if you have all of the information you need and the dollars to transfer, and the platform you use should be easy to use and engaging.
Support for many languages The website now offers support for a total of 8 different languages, including Russian, English, Polish, Italian, French, Romanian, Portuguese, and Spanish. Because of this, it is suitable for a diverse group of different clients.
Refunds that are subject to delays: In the event that your payment is rejected or your order is canceled as a result of a duplicate purchase, the procedure of issuing a refund to you may take several days before it is reflected in your account.
There is no telephone help accessible; however, online email support is provided Monday through Friday from 9:00 am to 18:00 pm UK time. Because of the limited assistance and absence of telephone backup, the response time is delayed, which ultimately leads to an accumulation of case resolutions.
Verification delays can occur for a number of reasons, the most common of which are that the documents being verified are ambiguous or that they need to be cross-referenced with a number of other sources.



Azimo is able to effect direct deposits of payments into the bank accounts of recipients thanks to relationships formed with major banks located all over the world. In Nigeria, for example, Azimo has formed partnerships with financial institutions such as Diamond Bank, FirstBank, UBA, and Zenith bank. In Poland, the company has formed partnerships with financial institutions like ING, Bank Zachodni WBK, mBank, and Millennium bank. You may also utilize SWIFT to transmit the money straight to the bank in any of these three currencies: GBP, USD, or EUR.

More than 200,000 cash pickup places are available all around the world with Azimo. It has arranged for local partners and banks to provide cash pickup services on its behalf by entering into agreements with such parties to that effect.

Mpesa will serve as the payout route for mobile money transactions processed through Azimo in Kenya. A growing number of mobile e-wallets in other countries are connecting with Azimo in order to take advantage of its extensive network coverage.

Through the use of this platform, in addition to making deposits using mobile money, you are also able to send an airtime top-up to a prepaid mobile number.

Within twenty-four hours, Azimo will deliver cash to your home if you live in the Philippines. Sending a little quantity of money may be done in a safe and hassle-free manner using this approach.

It is stated on the Azimo website that the delivery of transfers should take between one and two days. However, there is a possibility that your transaction might be delayed on occasion due to a variety of circumstances, including the destination country, the payout type, and the transfer payment method.

If you pay for something on Azimo using a bank transfer from a country other than the UK, it can take up to three days for your money to arrive at Azimo. When you add that to the amount of time it takes the service provider to transfer your money and send it to the receiver, the process might occasionally take a little bit longer.

Pay using a credit or debit card, and then choose cash pickup as your method of payment. This will expedite the delivery process. The money must to be delivered to the receiver the very same day. You may monitor the progress of your transfer and find out exactly where it is with the Azimo app at any moment.

When compared to other suppliers such as Wise, who only transmit to banks and so have inherent delays, it performs pretty well in comparison. When it comes to Azimo reviews, the firm has a reputation for providing lightning-fast delivery timeframes.

A variety of transfer payment options are available through Azimo. This provides you with a diverse selection of options and guarantees that you won't be barred entry. The following are the several forms of payment that are permitted.

Payment methods: credit cards, debit cards, and bank transfers

Direct online payment methods such as SOFORT - It is important to keep in mind that you can only send money using SOFORT if you are located in Austria or Germany. The total sum must not be more than 999 Euros.

When we examine Azimo, we find that this supplier of money transfer services may be utilized for both individual and commercial purposes. Azimo Business was introduced by the company to assist small and medium-sized businesses in the United Kingdom and Europe in sending money to more than 189 countries at prices that are 50% lower than those charged by banks.

For the Benefit of Business:

Pay your vendors located all around the world.
On-the-go payment of freelancers and employees working abroad
Pay local salaries
Make payments to various merchants, including utility bills.
Collect money owed to you by consumers.

Regarding Transfers of Personal Funds:

Send financial support to your loved ones, both near and far.
Transfer money back to your nation of origin.
Pay a mortgage
Cover the cost of tuition.

If you have enterprises located in China and want to take advantage of some of the most competitively priced transfer options, you might consider using the direct to payment method. On the other hand, in the event that Azimo does not satisfy your requirements, we have compiled a list of the top 10 money transfer firms to assist you in locating the most suitable money transfer service.

On January 3, 2012, the United Kingdom became the location of incorporation for the Private Limited Company that is Azimo. Its official location is 9th Floor 107 Cheapside, London, United Kingdom, EC2V 6DN, and its business number is 07895399. The company number may be found on the website. Only Michael and Ricky Knox, two of the firm's original four founders, are still with the company. The other two, Marek Wawro and Marta Krupinska, departed the company to pursue other interests.

Ping Mobile Services Ltd was the original name of this business until 2012, when it was rebranded as Azimo Ltd. According to the most recent annual report that Azimo Ltd has published, the company now has five wholly-owned subsidiaries, with the sixth one (Azimo B.V) scheduled to launch in 2019, and hence not captured.

Azimo Inc. USA
Azimo Canada Inc.
Ireland branch of Azimo Money Transfer Ltd.
Azimo Hong Kong Ltd
Azimo Singapore PTE. Ltd

The Financial Conduct Authority has granted Azimo permission to conduct business in the United Kingdom in accordance with the Electronic Money Regulations 2011 (EMR 2011). (FCA). In addition, the supplier was granted a license by HMRC, and the agency now regulates it as a money services business. Azimo conducts business in the Netherlands under the name Azimo B.V., which is licensed by the De Nederlandsche Bank.

When it comes to the operation of the firm, the regulations guarantee that Azimo abides by all of the rules and policies that have been established. The cash belonging to customers must be kept in a secure financial institution at all times, since this is one of the most important principles governing business operations.

A total of 19 investors have contributed more than USD 45 million to fuel the growth of Azimo, which is a firm that is supported financially by venture capital. They are as follows:

Ripple GR Capital Silicon Valley Bank
The Infinity Business Group
Rakuten Capital e.ventures
Greycroft, Quona Capital, Frog Capital ,MCI Capital, Future Fifty

When it comes to Azimo reviews, the amount of faith that investors have in the firm is a very important factor for the millions of consumers that make frequent use of the service. KPMG LLP, one of the Big Four auditing firms, is responsible for conducting audits of the company's financial statements. As of the month of March in 2018, the firm had successfully linked more than one million clients to the platform.

Azimo systems come equipped with built-in security mechanisms that are active around the clock and continually monitor the platform for any suspicious behavior. Because Visa and MasterCard have validated the system, you can be sure that they will only execute legitimate transactions. The "TUV Rheinland Group" conducted an audit of the Azimo platform, and the platform received certification from them as being safe for the management and transfer of data.

On Glassdoor, the organization has a rating of 4.5 out of 5 stars from its more than 90 staff members. Some of the evaluations left by workers at Azimo demonstrate how the firm has developed an innovative environment in which people are given the opportunity to realize their full potential.

Customers who have used Azimo in the past have appreciated it for the flexibility it provides in terms of payment options, including credit cards, debit cards, and bank transfers, as stated in the evaluations of the company. Additionally, the fact that you may transfer as little as one dollar through the site makes it much simpler for customers who send frequent but relatively little sums of money to assist their relatives in their home countries. In addition to providing services for online money transfers, Azimo also enables users to send speak time to the people in their immediate and extended social networks.

The organization was determined to have 151 good social media mentions as opposed to only 6 negative mentions when customer satisfaction algorithms were used to gather comments, Azimo reviews, and mentions. The supplier has 30,917 reviews on Trustpilot, of which 91 percent are rated as "Excellent" or "Great," while just 4 percent are rated as "Poor" or "Bad." According to the Azimo reviews on Trustpilot, the company now has an overall rating of 9.1 out of 10.


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Those who gave the company a favorable rating in response to the Azimo review mentioned their positive experiences in the following areas:

When it comes to the transmission of payments, it is both quick and effective.
Low transaction costs while maintaining a high exchange rate
Continuity of service and trustworthiness

When it comes to the evaluation of Azimo, people who awarded the firm a rating of "Poor" or "Bad" cited the following reasons for their assessment:

Poor service to the consumers
Occasional delays in transfers

In general, the Azimo service is fairly simple to use, and it even offers email help to people who are not even clients. Both the Frequently Asked Questions section and the assistance center offer a wealth of information on the transfer service.

The process of getting started with Azimo currency transfers is uncomplicated and uncomplicated. The instructions are straightforward and may be conveyed in any one of eight languages. The first steps are outlined down below.


The first thing you need to do is make an account on Azimo; doing so just takes a few minutes of your time. You may sign up for the service by using either the mobile app, the website, your Facebook account, or your Google account.

The second step is to verify your identification, and for this you will need two pieces of documentation: one establishing your identity, and the other proving your address. You have the option of providing either your passport or a driver's license in addition to a recent electricity bill. After the verification is complete, you will be able to start the transfer.

Step 3: Add recipient You will see a simple interface that allows you to add your recipient in a straightforward manner once you have logged in.

The fourth step is to select the location, the currency, and the mode of delivery. The manner of compensation will be different for each nation, depending on which one you select.

Step 5: Formalize the exchange rate by specifying the amount you are sending or the amount you want the receiver to acquire. Indicate the amount you are sending or the amount you want the recipient to get.

Step 6: After you have made sure that all of the information is correct, pay for your transfer, and then submit it. Keep in mind that you may monitor the status of the transfer at any time by using the Azimo website or mobile app.

The receiver does not need to take any action in order to receive the payment if the mode of delivery chosen is a direct bank deposit or a mobile e-wallet deposit. You will, nevertheless, be required to provide the following information or documentation in order to get cash pickups or house deliveries.

The unique identifier of the transaction; the sender will give this code to you.
Your government-issued identification card; the name that appears on the card and the name that was supplied by the sender must be the same.
You could also be requested to provide information about the person who initiated the transfer and the purpose of the transaction. Make sure you are well-versed on this knowledge and are prepared.

There is a mobile app for Azimo that can be downloaded for free from both the Google Play Store and the Apple Store. The mobile application gives you access to a wide variety of features, including the following:

Establishing an account with Azimo:

Sending money to bank accounts, cash pickup places, mobile wallets, or mobile phone top-ups may all be done through mobile money transfer services.
Monitoring the status of your transfer
Conducting research on current exchange rates and transaction fees
Changing the receivers and adding new ones
Having a look at your past financial dealings

The application has already exceeded the one million download milestone on Android. It has received a rating of 4.5 out of 5 stars on average from the more than 15,000 people who have rated it. There are no limits on who may download the app, and there are no limitations based on country.

When performing an international money transfer, having access to quality customer service is an absolutely necessary component. Because Azimo does not offer telephone support, and because the company's online customer care is only available between the hours of 9:00 am and 18:00 pm (UK time), it is somewhat more difficult for consumers to acquire assistance at the times when they require it the most.

Get in touch with the customer care team as soon as possible if, for any reason, you feel the need to cancel your transfer. Once a transfer has been marked as completed, it is conceivable that the transaction cannot be canceled or recalled. The greatest line of defense is to be cautious at all times and ensure that you have all of the relevant information before clicking the "Send" tab on your computer.

 

 

Reviewed by Arpita Singh

Arpita SinghArpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.