Labour support cheap money transfer to Pacific

new-zealand-labour-party

Fri Mar 20 2009 13:00:00 GMT+1300 (New Zealand Daylight Time)

Labour support cheap money transfer to Pacific

Friday, 20 March 2009, 11:38 am
Press Release: New Zealand Labour Party

Labour continues to support actions to reduce the cost of sending money to the Pacific

Labour is urging Pacific Island people to make the most of a website that will help to reduce to the cost of sending money to the Pacific Islands, Luamanuvao Winnie Laban says.

In September last year the Labour Government announced a new regulation under the Financial Transactions Reporting Act that reduced the high costs of sending money between New Zealand and the Pacific and this new website would make it even easier, Winnie Laban said.

“I completely support the development of this website to enable people to easily compare the costs, transfer methods, speed and exchange rates of different remittance service providers, to ensure they have the best access to information.

“Pacific peoples have for years being paying dearly to send money back to the islands.

“In many cases the total cost of remittances can be anywhere from 15 to 25 per cent of the value of the transaction.” said Winnie Laban.

The www.sendmoneypacific.org website is a joint NZAID and AusAID funded project, to improve the transparency of remittance costs.

ENDS

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