IMGCAP(1)]
The New Zealand arm of Australia-based Westpac Banking Corp. has introduced a Visa-branded prepaid card designed for remittances in the Pacific region. Customers using the service will receive two cards with the same PINs. One card will go to the formal card owner residing in New Zealand, and the other will go to a family member living in the Pacific Islands, the bank says in a statement. The bank says the average remittance amount between the two regions is NZ$200 (US$106 or 84 euros). The charge for sending such a remittance would be 3% of the transfer amount, but the bank did not detail its fee structure nor respond to a CardLine Global request for comment. Cardholders can use the cards at point-of-sale terminals that accept Visa cards or at ATMs.
