The ANZ Bank has noticed an increase in remittance worth over $20m flowing into Pacific island countries which is a 21 percent increase in volume compared to the same period last year.

ANZ Regional Executive for the Pacific, Tessa Price says Pacific islanders living in Australia and New Zealand are sending money home more frequently than they were a year ago.

Price says in an average year, remittances can account for up to 25 percent of a Pacific households’ income.

She adds that this flow of money has become even more significant since COVID-19 devastated the international tourism industry.

Since September 2020, ANZ has waived its transfer fees for foreign currency international money transfers on ANZ Internet Banking to the Cook Islands, Fiji, French Polynesia and other Pacific island countries helping to maintain the flow of remittances to the Pacific.

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