Customers can now send money direct to a personal or business bank account in Romanian lei or send money for Cash Pickup in either US dollars or Euros. Azimo, customers can send money online to over 198 countries, with fees that start from just £1 (including to Romania) and the best-guaranteed exchange rate.
An estimated three million Romanians (about 13% of the country’s population) are estimated to be living abroad. Many have travelled to find work in European countries such as Spain and Italy, although there are also growing communities in the USA, Canada, Hungary, Germany and the UK.
For migrants living away from friends and family, money transfers are an important part of everyday life. Data from Azimo shows that up to 76% of transfers are being sent to support family and loved ones back home. Azimo’s new service allows customers to not only send money straight to a personal bank account, but also to a business bank account to pay bills directly from abroad.
The World Bank estimates that Romanian migrants sent $3.6 billion home in 2013. In future, by using Azimo, people will now be able to save more, meaning more cash for their families and less for foreign corporates.
Michael Kent, CEO of Azimo explains why he started the business: “Azimo is a business founded by migrants for migrants, so we understand the problems that high fees and poor customer service bring. The benefit of the service being online is that it’s super easy, low cost, fast and secure. And all transfers are protected by a 100% Money Back Guarantee.”
With fees costing just £1 to Romania and Mother’s Day just around the corner, there’s never been a better time to send money to your family and friends back home.
Take a look at the video below to see how it works:
https://www.youtube.com/watch?v=Vm2W_Fl4-bQ&width=500&height=350
About Azimo
The name Azimo is derived from the Swahili word for ‘help’. Based in London and operational since 2009, Azimo is a Payment Institution regulated by the Financial Conduct Authority in the UK. According to company’s web site „We currently send money from 19 countries – the UK and Eurozone – to over 190 countries.” The company’s business aproach is quite simple: „We don’t do shops. We don’t do agents. We only operate online so we can save you money. We are up to 85% cheaper than the High Street Banks and Online Money Transfer companies.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
