Remittance costs reduced by comparing rates [1]
Friday, June 15, 2012 - 11:00. Updated on Friday, April 11, 2014 - 23:28.
A project to reduce the cost of sending remittances from New Zealand and Australia to Tonga and seven other Pacific islands is succeeding, Kim Hailwood and Jonathan Capal of Developing Markets Associates Ltd, said in Tonga on Wednesday, June 13.
The "Money Pacific" project, supported by New Zealand Aid, AusAID and the World Bank, has focused on improving the financial knowledge and awareness of Pacific Islanders, while reducing the cost of remittances to their homelands, including Fiji, Kiribati, Papua New Guinea, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu.
Developing Markets Associates Ltd, a British Company, is managing the Money Pacific project and offers its assistance to the public through a website, sendmoney pacific and an annual calendar with important financial tips, and a guide to the various remittance service providers available and their comparative rates, with a message that, "Financial care is being aware".