20 May 2016

ANZ Bank cuts fees for money transfers

4:06 pm on 20 May 2016

The ANZ Bank says it is cutting fees on international money transfers from New Zealand to Vanuatu, Samoa and Tonga.

Sign for ANZ Bank

Photo: RNZ / Claire Eastham-Farrelly

The charge will fall from $US12 dollars to just $US4.70 for payments initiated by internet banking in New Zealand.

The Bank says these payments will not be subject to other bank deductions.

It says the initiative aims to make it easier for remittance payments to be made to these countries.

The ANZ's chief executive in Vanuatu, Charles Rickey, says it is aimed at making it easier for Pacific seasonal workers in New Zealand to send money home.