Migrants and UK expats abroad send billions of pounds overseas every year. This innovative new online service is taking the money transfer market by storm, as it promises competitive rates, greater value for money, an ethical approach and overall a much easier way to transfer funds to friends and family all over the world from your mobile phone or the Internet. As an added feature, Azimo is the first money transfer service tointegrate social networks into the process to speed up transactions. It allows you to select friends from Facebook and make payments to them directly, with other social media integration on its way.

Without having to queue for hours and fork out for high commission fees, Azimo lets you send money to 125 countries worldwide. Easy to use, you can make transactions with Azimo wherever is convenient for you, either from home, from an Internet cafe or on the go via you mobile – wherever you have an Internet connection. It can be sent any way you like – for cash collection at over 150,000 global locations, direct to bank accounts or to mobiles, even to top up a mobile phone.

And, as an ethical company, 10% of Azimo's profits go directly to charity and customers are invited to donate a percentage of their savings to charities and good causes.

Michael Kent, founder of Azimo says: "We are here to shake up the money transfer market and transform how people send and receive money around the world. Bank and wire services are often slow and charge extortionate rates – usually 4% to 8% of the transaction amount – but with more and more people having access to the Internet, mobile phones and Smartphones, and having Facebook accounts, we are embracing the tools available to make it easier for people to make money transfers.

"Our aim is to provide the simplest, most reliable way to send money to anyone, anywhere in the world without needing to wait in long queues or pay over the odds. We want to disrupt themarket and show people a more reliable, cost-effective, flexible, ethical and quicker way to transfer money using widely available technology and integrating social networks, which so many people across the world are familiar with.

"We can afford to be cheaper as we have smaller overheads than the bigger players. Transferring money with Azimo will always be cheaper than a high street bank or money transfer company as we offer a more direct service with fewer middlemen: our charge is between 1 and 2%,depending on the transaction."

For a transfer of £300 with Azimo, you can save up to £30, compared to competitors*.

From international professionals, to migrant workers and expats, the service is aimed at all British and foreignnationals living in the UK or abroad, looking to make money transfers abroad. No bank account is required, just an Internet connection.

The service is available 24 hours a day, seven days a week and is easy and safe to set up. It has a simple and uncomplicated interface that is easy to understand, whether you are new to money transfer or not. A minimum transfer of £50 Sterling applies. Users can send up to £900 without an ID verification, but any amount over £900 and both the sender and the recipient must submit additional ID documents on the website. An app has also been developed with the Android version live today and the iPhone version available in coming weeks.

World Class Compliance
You know you can trust Azimo. The business is a registered Payment Institution with the FSA and uses the same128-bit encryption and physical security used by banks. We increase your financial security by using a sophisticated multi-point technique to ensure all transactions are subject to the correct levels of "Know Your Customer "and regulatory checks, including the OFAC blacklist.

'Azimo' means 'something lent', or 'assistance' in Swahili and in Arabic means 'The Greatest' or 'He who will be great'. 

* Figures correct as of 27 June 2012.