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Funds Transfer Scheme

ANZ New Zealand

Sunil KaushalHead of Indian segment, ANZ New Zealand

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Introduction

• ANZ New Zealand Overview• Migrants in NZ• Importance of India• Offshore Activity • Onshore Activity• Funds Transfer Scheme (FTS)

- Process Map

• Example of Welcome Letter/Proof of Funds• Questions

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ANZ New Zealand• We were New Zealand's first bank, with ANZ established in 1840• ANZ New Zealand is part of ANZ Group, which is among the top 50 banks in the world and present

in 32 countries. • We work as a strong and trusted financial partner to New Zealand: through our two full-service

retail banks, ANZ and The National Bank; ING for investments, superannuation and insurance; UDC Finance for consumer and business finance; EFTPOS New Zealand for electronic payment processing; Direct Broking for sharemarket investing; and New Zealand save and win icon, Bonus Bonds.

• Nearly one in two New Zealanders have a banking relationship with an ANZ National branded business

• We employ around 9,000 people across New Zealand.  • New Zealand’s largest company based on profit and assets• Through ANZ and The National Bank we finance one third of all home loans in New Zealand• ANZ and The National Bank’s Institutional Divisions are New Zealand’s largest provider of foreign

exchange• EFTPOS New Zealand provides retailers with the electronic payment network that drives a large

part of their business and makes their customers’ shopping experience easier and more convenient

• The National Bank is New Zealand’s largest rural banker, with a market share of 39 per cent• ANZ staff gave more than 16,000 volunteer hours to a range of community organisations in our

last financial year.

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The Importance of India

Immigration New Zealand Statistics.

Migrant Stock: New Zealand Ethnic Census Data 2006

India is the

third largest

source country

for inward

migration flow

Over 120,000

Indians live in

New Zealand

Nationality 2008/ 09 2009/ 10 2008/ 09 2009/ 10 2008/ 09 2009/ 10 2008/ 09 2009/ 10 2008/ 09 2009/ 10China 6,790 4,769 19,315 14,054 22,898 18,553 49,003 37,376 15.37% 14.64%I ndia 3,155 2,912 13,900 15,232 9,589 8,494 26,644 26,638 8.36% 10.43%Great Britain 8,641 6,322 24,348 18,562 2,343 1,651 35,332 26,536 11.08% 10.39%South Korea 854 826 6,737 4,550 13,717 11,072 21,308 16,448 6.68% 6.44%Fiji 3,413 2,618 9,592 6,989 4,065 3,339 17,070 12,946 5.35% 5.07%Philippines 3,484 3,294 9,577 6,781 2,749 2,031 15,810 12,106 4.96% 4.74%United States of America 1,100 953 8,806 7,796 3,106 2,434 13,012 11,183 4.08% 4.38%Germany 669 632 9,485 7,887 3,600 2,308 13,754 10,827 4.31% 4.24%South Africa 5,344 4,394 7,626 3,707 2,720 1,278 15,690 9,379 4.92% 3.67%J apan 457 396 5,879 4,308 3,905 3,356 10,241 8,060 3.21% 3.16%Malaysia 616 500 4,229 3,390 2,578 2,319 7,423 6,209 2.33% 2.43%Thailand 354 341 3,448 2,782 2,737 2,536 6,539 5,659 2.05% 2.22%

Resident %TotalStudentsWork

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The Importance of IndiaPeople Connection • Increasing India Population within New Zealand• 120,000 Indians living in New Zealand• Third largest source country of permanent migrants and

International Students• 19% of Auckland’s population is Asian and this figure is rising

quicklyTrade Connection • New Zealand/India Free Trade Talks (FTA) are in progress.• Trade between India and New Zealand’s has crossed the $1b mark for

the first time.

*http://business.newzealand.com/Economy/15264.aspx

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Offshore Activity: Pre-arrival Clients

Dedicated New Zealand Pre-Arrival Branch:• New Resident Services (range of languages incl Hindi, Punjabi, Bengali, Gujrati,

free phone number from India)• Assist new customers moving to New Zealand with their banking

requirements (Migrants, International Students, Working Visas).• Customers are able to open accounts with ANZ up to 12 months prior to arrival in

New Zealand. - No cost to set up new Accounts.- Fees waived for International Students- Tailored banking solution offered on arrival (eg Student Package,

Migrant Package, full range of banking products)

NZ Migrant Banking

spans ANZ and National Bank brands

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Onshore Activity: Retaining and Growing Migrant Customer Base

• Over 150 ANZ Branches and 400 ATMs Nationwide• 7 Day Banking – key sites operating 7 days per week• Multilingual ATMs (English, Chinese, Korean, Japanese)• 24/7 Phone Help Line, where staff speak over 20 languages• Call Centre (0800 838 123) with Indian language skills• Indian Business Banking Team• Indian Mortgage Managers, Insurance Specialists• Indian Specialist Branches (Auckland, Wellington, Rotorua, Palmerston North,

Hamilton, Christchurch)• Student Package – no monthly fees or transactional charges while studying.• Celebrating key cultural events – Diwali, Holi, Vaisakhi• Community Participation and event sponsorship– (Diwali, Holi, Vaisakhi, Onam,

Independence/Republic day and other Indian community events)

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FTS Process Map

Student opts for FTS

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If successful, INZ issues AIP

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Student Applicant obtains ANZ

application form from INZ website/agent >

completes it and fax/emails it to ANZ NRS (can also occur

prior to AIP)

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ANZ NRS team opens the account, places hard hold & emails welcome letter with details on how to transfer funds into the account.

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Applicant transfer funds into the nominated

account and is provided with a confirmation of funds received into the account from ANZ NZ.

Copied to INZ

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Upon arrival in NZ, applicant visits nominated ANZ branch to confirm identification of

account & account is activated with a regular

automatic payment in to the cheque account

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Example of Welcome Letter/Proof of funds

Welcome Letter Proof of Funds

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Questions?