With GBP 4.1 billion (USD 5.6 billion) transferred to China from Europe each year, Azimo’s online service makes it possible for customers to send money and save around GBP 10 on every transfer.
Two million Chinese citizens currently live in Europe, transferring GBP 80 million (USD 110 million) home each week, according to the press release. Now, their transfers can arrive directly into their recipients’ bank accounts in local currency.
The expansion follows Azimo’s recent launch of fast weekend transfers to a number of countries including Nigeria, the Philippines, Bangladesh and Colombia, allowing money transfers to reach recipients in less than an hour, even during weekends.
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