ANZ today launched the ‘Pacific Money Transfer Card’, a two card pre-paid VISA that makes it more affordable to remit money from Australia to family and friends living in certain countries in the Pacific.
After paying a one-off card issue fee* of A$24.95, the fee for uploading funds will be A$2 through BPAY or A$3 via ANZ’s prepaid website, which is compared to International Money Transfer fees of around A$32 for a typical remittance of A$200.
ANZ CEO Pacific, Michael Rowland said: “Making remittances more affordable has been a long-standing priority for ANZ and we’re excited that we can now provide a simple, cheaper way for customers to send money to family and friends in the Pacific.
“Remittances make an important contribution to the Pacific, both to family incomes and to the GDP of the region’s economies, and we’re pleased to offer a product which is the first of its kind for the Pacific.
“This product allows Pacific islanders who are working in Australia to send money back home as cheaply and efficiently as possible, like those who may be on short-term visas through the Pacific Seasonal Worker Pilot Scheme,” Mr Rowland said.
How the ANZ Pacific Money Transfer Card works:
- Simple two card pre-paid VISA solution – one card is held by the sender in Australia, the other by the recipient in the Pacific.
- Applicants do not have to be existing ANZ customers.
- The sender uploads funds via ANZ’s prepaid website or through BPAY.
- An SMS notification is sent to the recipient in the Pacific when the funds have been uploaded.
- Recipient can then access funds through ATMs and EFTPOS terminals in the Pacific wherever VISA cards are accepted.
The Pacific Money Transfer Card is available for those people who want to send money from Australia to Fiji, Papua New Guinea, Samoa and Tonga. These countries currently receive the highest volume of remittances through ANZ’s current International Money Transfer telegraphic offering.
For more information on the Pacific Money Transfer Card visit www.anz.com/prepaidcards