If you want to transfer funds overseas and are wondering if you should OFX or Azimo, this detailed comparison will help you make an informed decision. Both companies specialize in overseas fund transfers, enabling them to offer better deals compared to most leading banks.
A number of users have reviewed these companies on Trustpilot, where the Azimo vs. OFX comparison demonstrates the ways these companies match up against each other. Since both companies average 9.0 out of 10, which company should you choose?
A host of factors must be considered. I have divided this comparison into multiple sections so you can check the similarities and differences between these companies, and decide accordingly:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
Worldwide Money Transfer Fees
Whether you use Azimo or OFX, the fees you have to pay, in all likelihood, will be lower than what your bank charges. Factors that have a bearing on how much your transfer will cost include the currency you use for payment, the transfer amount, and the transfer method.
- The fees depend on the currency you make your payment in and the transfer amount.
- Transfers of less than USD $5,000 attract USD $5 as fees.
- OFX UK (also known as UKForex) has removed all fees! Now that’s a good deal.
- With transfers that do not exceed €5,000, OFX charges a €10 fee.
- If you transfer less than AUD $10,000, you pay AUD $15 in fees.
- If the transfer amount is under ¥1,000,000, a ¥1,500 fee applies.
- The fees you have to pay can vary according to the destination country and the desired transfer method. The methods include bank transfers, SWIFT transfers, transfers that involve cask pick-ups, and deposits to prepaid mobile phone accounts.
- You find out how much you have to pay as fees before initiating a transfer.
Ease of Use
IF you are looking for website access in a foreign language, this OFX Vs Azimo comparison points to Azimo as a clear winner. Submitting an online application takes no more than a few minutes. However, both companies take the time to verify your details before activating your account.
- The OFX website is available only in English.
- International customers must pay via electronic bank transfer.
- Australian customers can pay via BPAY.
- The OFX Group operates dedicated websites for the U.S., Canada, the UK,and New Zealand.
- OFX provides apps for devices that use Android or iOS.
- Azimo makes its website available in English, French, Russian, Spanish, Italian, Portuguese, Dutch, Romanian, Turkish, and Polish.
- You can use your Facebook account to simplify the registration process.
- International customers can pay via electronic bank transfers, credit cards, and debit cards.
- If you are a resident of Italy or Spain, you can make payments via Trustly.
- Residents of Austria and Germany can pay via Sofort Überweisung.
- From the Netherlands, you can pay via iDEAL.
- You can use Azimo apps with Android and iOS devices.
Regular Overseas Payments
OFX lets you make regular overseas transfers easily. Azimo does not offer this option yet.
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