ANZ yesterday (Monday) launched the Pacific Money Transfer Card, a two card pre-paid VISA that makes it easier and cheaper to remit money from Australia to family members and friends living in certain countries in the Pacific including Papua New Guinea.
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 represents a significant saving for people compared to international money transfer fees which are around A$32 for typical remittances of A$250.
ANZ PNG CEO, Vishnu Mohan said: “The Pacific Money Transfer Card is the first product of its kind offered to remit money to the Pacific making it cheaper, faster and easier for people living in Australia to remit money to PNG.
“ANZ is committed to meeting the specific needs of the PNG community and the Pacific Money Transfer Card is in response to that.
“This two card pre-paid VISA solution provides Papua New Guineans living in Australia an extremely cost-effective option to quickly send money to family or friends living in PNG.”
How the 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 telegraphic transfer offering.
For more information on the Pacific Money Transfer Card visit www.anz.com/prepaidcards .