Wondering if you should transfer funds through Azimo or PayPal? Both companies function as better alternatives when compared to most banks, letting you transfer funds to countries the world over. However, is one of them is more worthy of your attention?
The PayPal vs. Azimo comparison on Trustpilot, a website where thousands of customers review online businesses, serves as some indication of the difference in service levels between these companies. While Azimo averages at 9.0 out of 10, PayPal’s score is nowhere close. However, there are other circumstances that can have a bearing on your decision.
Choose PayPal or Azimo for your next funds transfer only after you understand how these companies differ in their operations. The categories discussed below will simplify the selection process:
- Exchange Rates
- Ease of Use
- Regular Overseas Payments
International Money Transfer Fees
You can avoid the steep fees charged by most banks by using either Azimo or PayPal.
- The calculator that the Azimo website provides gives you an easy means to find out how much you will have to pay in fees.
- The destination country and the transfer method have an effect on the fees Azimo charges. For example, SWIFT transfers are more expensive than electronic bank transfers or transfers to cash pick-up centers.
- Azimo informs you of all applicable fees ahead to time.
- Check the Azimo review for additional information.
- The fees PayPal charges depend on the country you live in.
- In the U.S., if you fund the transfer using your PayPal balance or a bank account, you pay 0% to 2% of the transfer amount as fees. If you pay using a credit or debit card, the transaction attracts a fixed fee plus 2.9% to 5.99% of the transfer amount.
- An additional currency conversion fee can also apply to PayPal transfers.
Ease of Use
Registering online with PayPal or Azimo takes no more than a few minutes. You can start transferring funds as soon as the company you sign up with verifies your account.
- You can sign up with Azimo by using your Facebook account.
- The company lets you sign up as an individual or a business.
- You can use the Azimo website in English, Spanish, French, Italian, Portuguese, Russian, Romanian, Dutch, Turkish, or Polish.
- Transfer methods offered by Azimo vary according to the destination country.
- Your options include electronic bank transfers, transfers to cash pick-up centers, SWIFT transfers, transfers to mobile wallets, and topping off prepaid mobile numbers.
- As an international customer, you can pay via electronic bank transfers, credit cards, and debit cards.
- Residents of Austria and Germany can use Sofort Überweisung.
- If you live in the Netherlands, paying through iDEAL is an option.
- Residents of Spain and Italy can make payments via Trustly.
- You can use Azimo apps with devices that run on iOS or Android.
- PayPal provides services for individuals and businesses
- PayPal provides website access in various languages, some of which include French, Portuguese, Spanish, Italian, Japanese, and Chinese.
- You must transfer funds to another PayPal account. The recipient can then withdraw transferred funds into a local bank account.
- Recipients can use their PayPal balances to shop online.
- You can pay for your transfer using your PayPal balance, a debit card, a credit card, or a linked bank account.
- The company provides apps for iOS and Android.
Regular Overseas Payments
Turning to Azimo or PayPal will not be your best options if you want to schedule routine transfers, as neither company provides this service yet. Other prominent fund transfer companies that offer this feature include World First, TorFX, Currencies Direct, HiFX, and OFX.
- Is there anyone better than TransferWise?
- Who is similar to OFX.com?
- Is CurrencyFair’s competition up to the task?
- Does TransferWise live up to their hype?