ANZ yesterday announced the reduction of International Money Transfer fees from New Zealand to Samoa, Vanuatu and Tonga from NZD18.00 to just NZD7.00 for payments initiated by Internet Banking in New Zealand.

These payments will not be subject to deductions of intermediary or inward fees by ANZ.

ANZ Regional Executive – Pacific Islands, Tessa Price, said the initiative intends to make it easier for remittance payments to these countries.

“We’re committed to helping our customers and communities progress across the Pacific.

“We appreciate that remittances play a significant role in driving economic growth and supporting household income across the region,” said Ms Price.

Ms Price added that the initiative was also designed to help make it easier for Pacific seasonal workers to send money back home from New Zealand, as labour mobility between regions increases and better connectivity between markets becomes increasingly important for ANZ customers.

Payments initiated through an ANZ branch or by phone in New Zealand will still incur the usual fee of $28.