TechInPacific – Starting from the latest of February 2021, every ANZ customer should not be worried about sending money to friends and family. ANZ mentioned that there will be a waiver for paying foreign currency from Australia and New Zealand.
By using ANZ Internet Banking, from Australia and New Zealand particularly, and ANZ GoMoney App from New Zealand, ANZ customers can send money electronically to Cook Island, Fiji, Kiribati, Papua New Guinea, Samoa, Solomon Islands, Tonga, New Caledonia, Timor Leste, and Vanuatu. Moreover, there will be no transfer fee when using those two applications when sending money.
This statement was declared by Tessa Price, ANZ Regional Executive for the Pacific, and Kishti Sen, ANZ Pacific Economist. Tessa Price mentioned that the purpose of giving waivers of fees is to help the economic condition in the Pacific and to stimulate people to use online applications to send money. Additionally, Price says that it is important for them to keep the low costs due to the global pandemic, Covid-19.
In 2019, there were more than 40.000 online transfers to Pacific from ANZ customers in Australia and New Zealand. The total amount for that activity is more than NZD$90 million.
Based on the Pacific Economy, Kisthi Sen, the economic growth in the Pacific is decreasing as the effect of a global pandemic, Covid-19. However, Sen believed that this condition will no longer affect the Pacific economic condition since the household budget often increases. Furthermore, Sen mentioned that Melanesian and Polynesian have cultures that are quite different from others. These two races always look after each other, means family and friends still send money for their relatives