I transfer money overseas regularly, as an ex-pat, and always use the service offering the best exchange rate. On this occassion, it was a small amount of cash I was sending and Azimo offered the best rate, even taking into account their £12 transaction fee. When the money arrived with the recipient, the $390nz transfer amount had become only $360nz. I expect the receiving bank to take a small fee but in my experience this has never been more than 1.5%. A fee of 7.7% (on top of the £12 already paid) is ridiculous and unheard of. On checking with the recipient, their bank confirmed that no charges had been applied upon receiving the funds so must have been applied by the sending company. Assuming this must be a mistake I contacted Azimo who very rudely and abruptly told me that this was the fee of intermediary banks which they have no control over and, essentially, told me to go away and stop complaining. In my opinion, Azimo are a cowboy outfit with astronomical hidden charges. Their claim that the fee of intemediary banks is outside of their control is a lie as having used upwards of 10 different forex companies I have never been charged anything beyond a small commission from the receiving bank. I advise you avoid Azimo entirely. Edit