ANZ

Sending money home to the Pacific more often

In July 2021, ANZ customers in Australia and New Zealand sent 11,668 International Money Transfers to family and friends in the Pacific, worth AUD$ $13.1m (US$9.6 million), a 21 percent increase in volume when compared to the same period last year.

“In the Pacific, international money transfers - also known as remittances - are about more than money: they are about family, safety, culture, and community,” ANZ Regional Executive, Pacific, Tessa Price said.

ANZ extends fee waiver for money transfers to Pacific

Latest figures show the value and volume of transfers made by ANZ customers to the Pacific has increased substantially on the same period last year.

In February 2021 ANZ Australia and New Zealand customers sent a combined volume of 8,761 International Money Transfers worth AUD$12m (US$9.2 million) – a 95 percent increase in volume and 33 percent increase in value compared with the same period last year.

Money sent back to the Pacific from overseas, known as remittances, can make up a large part of a Pacific household's disposable income - up to 25 percent.

New ANZ Pacific app launched

ANZ PNG’s chief executive officer, Mark Baker, said: “We are fully committed to continuously improving our products and services and providing a seamless digital experience for our customers and today we are pleased to launch this new app.

“This ANZ Pacific app allows our customers to do their day-to-day banking easily and conveniently in a cost-effective and speedy manner.

“The app also has enhanced security features embedded which allows our customers to do their banking safely and securely.

ANZ reduces Pacific money transfer fees

The fees for transfers to Fiji, Solomon Islands, Cook Islands and Kiribati have been lowered by 60 percent, from 18 NZ dollars to seven dollars.

The ANZ's Paul Goodwin said the bank now knows how important the transfers are to local communities.

The bank said the change comes after its "successful trial" of the lowered fees to send money to Samoa, Vanuatu and Tonga which began in May last year, which it says will continue.

In June ANZ lowered the fees from Australia to Fiji, Samoa, Vanuatu, Kiribati and Tonga.

ANZ announces relief package for customers impacted by Cyclone Winston

ANZ CEO Pacific & CEO Fiji Vishnu Mohan said: “This is one of the worst cyclones to hit Fiji destroying many towns and villages as well as damaging vital infrastructure. It will take a long time for Fiji to fully recover from this disaster and we want our customers to know that we are here ready to support them.”

ANZ’s customer assistance package includes:

  • suspension of all home loan, personal loan and small loan repayments for 60 days;

ANZ supports 3rd PIDF Summit

The forum is being held next week in Suva, Fiji and has been established to discuss critical issues in sustainable development for the people of the Pacific, with the theme this year of “Building Climate Resilient Green Blue Pacific Economies”.

ANZ launches Share Purchase Plan Offer

This capital raising is part of a program announced on 6 August 2015 to raise a total of $3 billion in equity capital to meet recently announced capital requirements for major Australian banks by the Australian Prudential Regulation Authority (APRA).

ANZ Chief Executive Officer Mike Smith said: “We considered all the options available and determined that, on balance, a share purchase plan in conjunction with our institutional placement supports our loyal retail shareholders and completes the capital raising in a fair, timely and efficient way.