ANZ bank has reduced its International Money Transfer fees from New Zealand to Tonga, Samoa and Vanuatu.

However, the reduction from NZD$18.00 to NZD$7.00 is only for payments through internet banking. These payments will also not be subject to deductions of intermediary or inward fees, ANZ stated today.

Payments made through any branch or by phone in New Zealand will still have the usual fee of $28 dollars.

Tessa Price the bank’s Regional Executive Pacific Islands said this initiative intends to make it easier for remittance payments to these countries.

“We are committed to helping our customers and communities progress across the Pacific and we appreciate that remittances play a significant role in driving economic growth and supporting household income across the region.”

She said this was also designed to help make it easer for Pacific seasonal workers to send money back home from New Zealand as labour mobility between regions increases and better connectivity becomes increasingly important for ANZ customers.