ANZ extends fee waiver for online payments made from Aus and NZ

ANZ has extended its fee waiver until September this year for online foreign currency payments made from Australia and New Zealand into Fiji and other Pacific countries.

ANZ Australia and New Zealand customers sent a combined volume of 8,761 International Money Transfers worth AUD$12m to friends and families in Pacific countries last month.

This was a 95% increase in volume and 33% increase in value compared with the same period last year.

ANZ Regional Executive Pacific Tessa Price says the move will provide some relief for ANZ customers during a difficult period.

Price says with industries like tourism severely affected due to COVID-19 restrictions, many families are still unable to generate the income they desperately need.

She says it's great to see many Pasifika families in New Zealand and Australia taking advantage of the fee waiver and sending more money home to help.

ANZ Pacific Economist Kishti Sen says the biggest boost to household disposable income growth in recent years has come from private inward remittances.