ANZ customers in Australia and NZ transfer $4.6 million to Fiji

ANZ customers in Australia and NZ transfer $4.6 million to Fiji

By Dhanjay Deo
Thursday 19/11/2020

ANZ customers in Australia and New Zealand have transferred over $4.6 million to family and friends in Fiji after the bank introduced the temporary waiver of its $7 international money transfer fee for online foreign currency payments.

ANZ says in the month since the introduction of the fee waiver, customers made more than 8,000 transfers to 10 Pacific countries, totalling almost NZ$15million.

In the same month, the number of online money transfers from New Zealand to the Pacific increased by 86% and transfers from Australia increased by 77%, compared to the same period last year.

ANZ Regional Executive for the Pacific, Tessa Price says remittances is significant to many Pacific economies which can count for up to 25% of a household’s disposable income.

Price says with the islands grappling with the impacts of COVID-19, it’s important that they keep costs low to encourage money flows to where it’s needed.

ANZ Pacific Economist, Kishti Sen says remittances don’t only support household budgets, they help pay for imports and as a result ease the pressure on a nation’s foreign reserves.

In 2019, ANZ customers in Australia and New Zealand made more than 40,000 online transfers to the Pacific, totalling more than NZ$85 million.

Credit Corp Fiji Care
Credit Corp Fiji Care

Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
Womens Rugby World Cup 2022
Quarter-final qualification is now the goal for the Rooster Chicken Fijiana 15’s following their 21-17 victory against South Africa.
103 days ago

Queen Elizabeth II passes away
Queen Elizabeth II, the UK's longest-serving monarch, has died aged 96, after reigning for 70 years.
133 days ago

Fiji wins Melrose Cup after 17 years
Fiji wins the RWC 7s title after 17 year drought
135 days ago
President suspends Chief Justice Kamal Kumar after complaints of misbehaviour
Chief Justice Kamal Kumar has been suspended. President Ratu Wiliame Katonivere suspended Chief Justice Kumar with full pay on the advice of the Pr...
6 hours ago
Year 12 provisional results to be released tomorrow
The Year 12 National Examination Provisional Results will be released tomorrow. Acting Permanent Secretary, Timoci Bure says 13,281 students sat ...
9 hours ago

203,942 students assisted with a total payout of $40.8 million under the $200 back to school support
The Ministry of Finance has so far assisted 203,942 students with a total payout of $40.8 million under the $200 back to school support. The ...
10 hours ago

Doctor Jokhan resigns from PS Education position
Permanent Secretary for Education, Doctor Anjeela Jokhan has resigned from the position effective from today. Public Service Commission ...
10 hours ago

Fiji Cancer Society to provide free medical check ups in Taveuni this Saturday
People in Taveuni will be able to get free medical check ups this Saturday as the Fiji Cancer Society will be provide cancer education and screening ...
11 hours ago

We will continue to fight to have a Leprosy Free Fiji – Dr Lalabalavu
Although we continue to detect 4 to 7 new cases annually I have confidence in our staff at the Leprosy and Dermatology Department that they will lead ...
11 hours ago