27 January 2010

Cheap Way to Send Money to Pacific Nations from NZ and Australia

A joint initiative involving the Ministry of Pacific Island Affairs, Reserve Bank of NZ, World Bank and Westpac Bank has resulted in a cheaper way to send money to Pacific nations compared to other retailers such as Western Union and other casual providers such as travel agencies.

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Basically, the project work has resulted in the operation of a two card system developed by Westpac that allows the receiver of funds in the Pacific to access funds from a NZ account, through ATMs or electronic means at very minimal cost.  The card can be bought from Westpac banks and they will provide details of its operation.

Of great help as well is the  website: http://www.sendmoneypacific.org which enables you to compare costs, speed and services offered by money remitters (including banks) from Australia and New Zealand to the Pacific.  You will note from the website that the Westpac card is cheapest hence greater awareness of these money sending tools will be beneficial to our Pacific remitting community in NZ.

Do pass on this information to all those you know would benefit from it especially those who regularly send money to Pacific nations.

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