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.
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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Azimo 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.