Euro rate at moment.

The money transfer service began this week.  Users may send money to more than 125 countries.The low-cost service was set up by Azimo, a UK-based company that says it is the first time users will be able to send money between international bank accounts via Facebook.Azimo founder Michael Kent said it undercuts high street bank charges by up to 85%.  It added that normally the transfer is made within 24 hours.Globally the market is worth US$500 billion.  Two of the biggest transfer players are Western Union and Moneygram.Such high fees have prompted the World Bank to investigate the “remittances” market. Its research shows that the average commission on a money transfer is nearly 10%, rising to almost 20% for some countries.High street banks fees for international transfers are exceedingly well-known to users.  HSBC, for example, demands as much as £30 for a customer sending money from their account to another person’s HSBC account overseas.