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Azimo vs. Wise (TransferWise)

Compare these providers side by side to see which is best for you.

Both Azimo and Wise want to make international money transfers cheap, fast and easy. But which does it better?

At the time of writing, Azimo only lets you send money from the UK or Europe, making Wise the clear winner for US senders. The fees and rates used in this comparison are accurate as of April 22, 2019.

Must read: Azimo is not available in the US

Unfortunately, Azimo currently only lets you send from the UK or Europe.

Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
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Which has lower fees?

Azimo

Fees with Azimo will vary depending on how much you’re sending and where you’re sending money to and from. According to its site, the average fee is about £1.99, but less common destinations will typically have higher fees.

Wise

Wise’s fees also vary depending on how much of which currency you’re transferring where. Its fees are similar to Azimo’s but will trend significantly higher for larger transfers because the fees are percentage-based.

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Winner: Tie

Both services have fees in similar ranges. You’ll have to compare the fees for your transfer to see which is cheaper for you.

Let’s crunch the numbers: Sending €1,000 and €10,000 from Austria to the US

The table below shows how much it costs to send money from Austria to the United States with each service, so you can see how the costs will vary for each provider once you factor in the fees and the exchange rates.

Sending €1,000 from Austria to the US
AzimoWise
Transfer fee€2.99€4.23
Exchange rate1 EUR = 1.098 USD1 EUR = 1.1257 USD
Transfer speed1-2 days1-2 days
Total US dollars receivedUS$1,094.70US$1,120.95
Receiver getsUS$26.25 lessUS$26.25 more
Sending €10,000 from Austria to the US
AzimoWise
Transfer fee€2.99€34.72
Exchange rate1 EUR = 1.098 USD1 EUR = 1.1257 USD
Transfer speed1-2 days1-2 days
Total US dollars receivedUS$10,976.70US$11,217.90
Receiver getsUS$241.20 lessUS$241.20 more

Even with the higher fees, you still get a better deal with Wise on both €1,000 and €10,000 transfers.

This value for money comes courtesy of its mid-market exchange rates, which net the recipient over $25 more on smaller transfers and $241 more on a €10,000 transfer.

Which offers better exchange rates?

Azimo

Azimo’s exchange rates vary depending on where you’re sending money to and from, but will often be 2%5% above the mid-market rate.

Here’s an example of EUR to CAD:

  • If the mid-market rate is 1 EUR = 1.5078 CAD
  • Azimo’s exchange rate might be 1 EUR = 1.444 CAD

This ends up being a margin of 4.23%.

Wise

Wise makes transfers at the mid-market rate, which is equivalent to a 0% margin. This can make an especially large difference on larger transfers.

Here’s an example of EUR to CAD:

  • If the mid-market rate is 1 EUR = 1.5078 CAD
  • Wise’s exchange rate might be 1 EUR = 1.5078 CAD

This ends up being a margin of 0%.

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Winner: Wise

Wise has much better exchange rates than Azimo and most other money transfer services. You won’t find better exchange rates than the mid-market one.

Which is faster?

Azimo

Transfer times with Azimo vary depending on your location and your money’s destination. It will generally take one day to make a deposit from a UK bank account or two or more days from Europe and elsewhere. Credit card deposits are generally instant but will cost more.

Once Azimo receives your money, it may take several more days to arrive at its destination, but once again this can be almost instant if you go for a cash pickup.

Wise

Wise transfer times also vary based on location and situation, although it offers express options to speed things up, albeit at extra cost, and you can also pay with a credit card for an instant deposit. But once again, this costs more.

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Winner: Azimo

Both will typically take several days with bank transfers, but by offering cash pickups in many locations, Azimo can send money faster than Wise can.

General features

Payment methodsReceiving optionsMaximum and minimum transfersTransfer speedsCurrencies
AzimoBank transfer, credit card, debit cardBank account, cash pickupMinimum: GBP£10

Maximum: GBP£250,000

1-2 days90+
WiseBank transfer, credit card, debit cardBank accountMinimum: $1

Maximum: $199,999

1-2 days30+

Azimo

To get started with Azimo you need to visit the website to create an account. You only need to provide some basic information if you’ll only be making smaller transfers. Once you’ve created an account, you can start sending money. You may be asked for more identification information if you’re planning on making larger transfers.

Wise

Wise requires you to create an account before you can use it. Once you have, you can start making transfers. You’ll need to provide some information about yourself before you can start using it for larger transfers.

Bottom line

Azimo has a lot of currencies and a lot of options, but Wise is hard to beat for sheer value for money. Plus, Azimo isn’t available in the US.

To get the best deal on your next transfer, compare other providers against Azimo and Wise to find one that fits your needs.

Looking for more options?

Our table lets you compare the services you can use to send money abroad. Compare services on transfer speeds and fees, then click Go to site when you're ready to send.
Name Product Filter Values Fastest Transfer Speed Fees (Pay by Bank Transfer) Learn More
OFX
24 hours
$0

View details
OFX has no maximum limit transfers, with competitive exchange rates for 45+ currencies.
Dunbridge Financial
Dunbridge Financial
24 hours
$0

View details
Dunbridge Financial offers competitive exchange rates and zero fees on transfers to more than 120 countries.
CurrencyTransfer
24 hours
$0
SPECIAL OFFER ✓ Minimum transfer of $1,000 for Finder readers (normally £5,000)

View details
Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
CurrencyTransfer lets you shop around for the best exchange rate on its online marketplace.
XE
Within minutes
$3

View details
XE has fast transfers with low fees and a range of foreign currency tools.
WorldRemit
Within an hour
From $1.99

View details
New customers send USD 20 to Lebanon and use code ADD10 for a USD 10 discount. Valid till 7 November 2021. T&Cs apply.
WorldRemit sends money to 110+ countries for bank-to-bank deposits, cash pick-ups or mobile top-ups.
Wise (TransferWise)
Within an hour
From $2.26

View details
Wise uses the mid-market rate and transparent fees to help you send money in 45+ currencies.
Instarem
Within an hour
$1

View details
Exclusive: Use code GET60 to save 30 USD on each transaction over 200 USD. Valid for the first two transactions and till 30 November 2021. T&Cs apply.
Instarem offers zero transfer fees on all transfers.
Remitly
Within minutes
From $0
SPECIAL OFFER ✓ Free transfers and better exchange rates available for new customers

View details
Special offers like free transfers and better exchange rates available for new customers.
Remitly has quick, affordable transfers around the world, with both express and economy options.
Western Union
Within an hour
From $0

View details
Western Union sends money online to friends and family in 200+ countries around the world.
MoneyGram
Within an hour
From $0

View details
MoneyGram has fast cash pick-up transfers to more than 350,000 agent locations worldwide.
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