Azimo, a UK-based online international money transfer service, has launched its 30-minute cash pick-up service to nearly 600 locations in Romania and Moldova.
The locations comprise Idea Bank, BCR, Smith & Smith branches in Romania and Victoriabank branches in Moldova.
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The service, which is available in both Romanian Leu and Euros, will enable Romanians to transfer money at lesser cost compared to offline services.
Azimo provides online and smartphone-based money transfers to more than 190 countries in over 70 currencies.
The company also allows customers to transfer money to any bank account in either local currency or EUR / USD and to top-up any Orange, Vodafone, Telecom Romania and Moldcell mobile phone.
Additionally, Azimo intends to expand its footprint to additional Eastern European countries by the end of 2015.
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By GlobalDataAzimo CEO and founder Michael Kent said: "There are about 1 million remittance transactions sent to Romania every month, so it is a vital lifeline for families, especially during this time of economic instability. Through our digital mobile platform, we are fixing that and ensuring that more of Romanian and Moldovan migrants’ hard-earned money makes it home."
Data from IFAD and World Bank found that over $5.4bn are sent in remittances to Romania and Moldova annually.
