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
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
FEATURE NEWS
Body found along Princes Road near Sawani this morning
A body was found along Princes Road near Sawani this morning. Body found along Princes Road near Sawani this morninghttps://t.co/M26cZY2reC pic.twi...
5 hours ago
LATEST NEWS
New documentary sheds light on girmitiyas in Fiji
A powerful new documentary, GIRMIT: The Fields of Sadness, brings to light the untold stories of the Indian indentured labourers —known as ...
3 hours ago

FHL Group conducts clean-up campaign along Suva foreshore
Staff from Fijian Holdings Limited (FHL) and its subsidiaries- Merchant Finance Limited, FHL Properties Limited, and Fijian Holdings Unit Trust— ...
3 hours ago

Woman raises concerns about safety and security in neighbourhoods after stoning of the car she was driving
A woman is raising concerns about the safety and security in our neighbourhoods after the rental car she was driving was stoned and broken into at ...
4 hours ago

Church of Jesus Christ of Latter-day Saints members celebrate diversity of culture, marking 70th Anniversary
Hundreds of members of the Church of Jesus Christ of Latter-day Saints came together at the FMF Gymnasium last night to celebrate the different ...
4 hours ago

47 families in Narere PRB Estate handed offer letters to become official homeowners
47 families living in the PRB Estate in Narere were filled with joy and emotions after they were handed their offer letters from the Public Rental ...
4 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
IN DEPTH

Tragedy at PRB Flats: Couple found dead in suspected murder-suicide in April
A couple were found dead at the new Lagilagi Public Rental Board Flats today and it is alleged at this stage that it was a murder suicide case on ...
12 days ago

Tevita Ikanivere on fijivillage Straight Talk With Vijay Narayan
The show focuses on Ikanivere’s journey, his family, career and how far the Drua has ...
25 days ago

TOP