Azimo vs Xoom

Azimo gives individuals easy access to international money transfers with a variety of payout methods. There are only a handful of currency exchange and transfer companies that provide such services. Azimo doesn’t just transfer money to a payee’s bank account, but also uses foreign agents for cash picks, payment into foreign mobile wallets and mobile credit top ups. 

A unique service that Azimo offers is the ability to send money into China’s Alipay. This could be the decision maker for individuals comparing Azimo and who need to transfer money home to China.

What Azimo doesn’t offer is more of the advanced money transfer and currency exchange services that some individuals may need. Azimo does not provide services such as currency risk management tools, regular transfers or personal account managers for those large money transfers. You may want more of the personal touch instead of an online only money transfer service.

What Azimo offers

• International money transfers
• Cash pick ups
• Mobile wallet and mobile airtime top ups
• Home delivery (only in the Philippines)
• Payments to AliPay in China

What Azimo doesn’t offer

• Account managers
• Regular transfers
• Travel cards
• Currency hedging tools
• Unique local multi-currency accounts
• Digital wallets

Xoom lets personal customers transfer money to a significant number of countries, through different channels.

What Xoom does

• International money transfers
• Cash pick-ups
• International bill payments
• Home delivery of money

What Xoom doesn’t do

• Personal account managers
• Regular transfers
• Unique local multi-currency accounts
• Digital wallet
• FX optimised travel card
• Currency hedging tools

Azimo's services for business clients are limited to basic money transfer services. What they do offer is a lower exchange rate margin (think hidden fees) for larger money transfers. Azimo doesn’t provide business centric services that businesses with a global presence need to reduce their ongoing money transfer costs and reduce administration. For example, accounting solutions (e.g. Xero) integration is not available which increases booking keeping administration. Nor does Azimo offer solutions for online sellers operating in a foreign market or unique international receiving accounts for foreign clients to pay locally. 

A list of what Azimo do and don’t offer businesses is below.

What Azimo for business offers 

• International money transfers
• Repeat transfers
• Better rates for transfers over £1,000

What Azimo for business doesn't do

• Business specialists
• FX-optimized travel cards
• Currency hedging tools
• Digital wallets
• Unique local multi-currency receiving accounts
• Solutions for online sellers
• Accounting integration

Xoom does not provide services for businesses.

Azimo’s exchange rate fees and additional fees are higher in comparison. Azimo’s exchange rate margin (the additional percentage on top of the current real exchange rate) is also quite high. There are some justifiable reasons why fees to send money for cash pick up as 3rd parties are involved. The lowest cost transfer by making payment through local bank transfer and sending to a foreign bank account will end up costing more.

Azimo fees

Transfer fees - The Azimo transfer fee varies depending on the currencies involved, the mode of payment, the transfer method and the transfer amount. Additional fees are approximately €12 (or currency equivalent).

Cash pick up fees - Sending money to an Azimo cash pick up location is typically more expensive than transferring it to a bank account.

Credit / debit card payment fees - Payments made via bank transfers tend to be more affordable than credit/debit card payments.

Fee-free transfers - New personal customers get two fee-free transfers, and the number increases to five for new business customers.

Exchange rate margin - Azimo applies a margin on existing mid-market exchange rates, which can be between 1.5% and 2.25% depending on the currencies being traded.

Xoom fees

Exchange rate margin fee - This is up to 2% for commonly traded currencies, and can be more than 5% for exotic currencies. 

Additional fees - The transfer fee varies based on the currencies being traded, the transfer amount, the payment method and the transfer method.

• Debit and credit card payments tend to attract added fees.
• Transfers to cash pick-up centers are typically more expensive than bank account transfers.
• The Bill Pay service comes with a flat transfer fee of $/£/€ 2.99. This is not including the exchange rate margin.

Azimo has an ease to use system. It is easy to register, prove identity and start your first transfer. As a basic money transfer service you would expect just that. Their speed of transfers are relatively fast with multiple pay in and payout options. 

Signing up - Register using the Azimo app or website.

Payment options -  Bank account transfers, debit cards, credit cards, SOFORT and iDEAL.

Speed - Up to 2 business days, although it can be more in some instances.

Multilingual website - Use the Azimo website in different European languages.

Mobile apps - Available for iOS and Android.

Sign up - Registration is simple, and becomes even easier for existing PayPal customers.

ID verification - Level 1 membership comes without the need for ID verification.

Payment options -  Bank transfers, debit cards, credit cards and PayPal.

Mobile apps - Available for Android and iOS.

Minimum transfer amount - Low minimum transfer amount.

Transfer limit - Xoom has 24-hour, 30-day, and 180-day transfer limits.

Azimo has good global coverage for supported destination countries. Most destination countries support cash pick and mobile top-up. Only the Philippines is supported for cash delivery to the home. 

Supported payment currencies - GBP, EUR, SEK, NOK, DKK, CHF and PLN.

Supported destination currencies - Carries out transfers in more than 60 currencies.

Customer support - Multilingual support provided via email and chat.

Supported payment currencies - Xoom lets customers send money from more than 70 countries.It accepts payments in USD, CAD, EUR and GBP.

Supported destination currencies - Xoom lets you send money to around 130 countries, in around 80 currencies. 

Supported countries for bill payments - Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Mexico, Nicargua and Vietnam.

Multilingual customer support - Customers get multilingual customer support. Languages include English, French, Spanish, Italian, German, Filipino, Chinese and Arabic.

Foreign language website access - Xoom's website is available in a number of languages such as  French, Spanish, Italian, German, Portuguese, Polish, Arabic, Filipino, Chinese and  Vietnamese.

Azimo is a regulated financial entity within the UK and conducts millions of pounds of funds transfers for individuals and businesses every year.

Regulation - Regulated by financial regulatory bodies in the UK and the Netherlands.

Customer service - Gets a rating of Excellent on Trustpilot. However, there are reviews by customers that complain about not getting adequate customer care.

Exchange rate transparency - Azimo does not have a transparent fee structure. The margin on existing exchange rates can exceed 2% for some currencies.

Where Xoom does well

Regulated - Xoom is regulated by the US federal government and various state regulatory bodies. It is licensed to provide its services in all its countries in its transfer network.

Trustpilot - Xoom gets an Excellent rating on Trustpilot. However, a number of complaints highlight lengthy turnaround times and failed transfers. 
 

Xoom challenges

Fees transparency - Xoom applies a margin on existing exchange rates. This can be over 5% for some currencies. 

Customer support - The company does not seem to respond to any of its customers' reviews on Trustpilot and the Apple App store. Many customers also complain about receiving poor customer service over the phone.