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New Zealander of the year Sir Paul Callaghan has come up with an interesting way to try and help with the relief effort in the wakeof the Christchurch Quake. We here at OrbitRemit are behind this proposal and have undertaken to make all student loan repayments free of charge. Read the full article below and visit our site for full details on how to make payments.
The lead up to Christmas can be a very expensive time and like everyone else we like to make savings where we can. We have had a lot of very positive feedback from customers of late in regard to the service that we are now offering to help people make payments to New Zealand for outstanding tax bills and student loans.
We are currently offering theses services free of charge in a bid to help making those payments a little less difficult. Our customers cannot believe the savings they can make using our service as opposed to the banks or high street money transfer companies. We have had numerous calls and emails from students abroad thanking us for making the process so simple and cost effective compared to the tradtional channels they have been using.
If making a tax payment, or student loan payment is one of the things on your long to-do list before Christmas please visit our site and see how you can make some significant savings. For full information visit http://www.orbitremit.com/global/orbitremit-payment-options/send-money-to-new-zealand/tax-account-student-loan and then select the country you are in.
For all those of you have used us and sent us positive feedback we tahnk you and look forward to continuing to exceed your expectations.
The team at OrbitRemit.
We recently spoke with a customer who was wishing to make a significant payment towards their New Zealand student loan from Australia. The individual in question was shocked at the amount they had previously been charged by their bank and could not believe the sort of savings we could offer towards their payment. To give you an idea of the charges levied by the bank and the savings offered by OrbitRemit see the example below;
Fees;
With bank: Customer sent NZD$7,000 through a credit card payment. Customer was charged AUD$161.87 by Commonwealth Bank as a currency conversion fee.
With OrbitRemit: OrbitRemit will provide your student loan payment for zero fees. The amount you see on our site to pay in AUD$ is the amount you pay and the amount received by IRD in NZD$ is the amount you see. The process is completely transparent and without fees.
Exchange Rates;
With bank: Based on the day the customer transferred the money she would have needed to pay AUD $5,701.72 to receive NZD$7,000 with Commonwealth Bank.
With OrbitRemit: To receive the same NZD$7,000 with OrbitRemit the customer only needed to send AUD $5,588.82
If you consider the saving from the fees of AUD $161.87 plus the savings on the exchange rate offered of AUD $112.90 then the total that this customer was able to save using OrbitRemit to make this payment was AUD$274.77. If you consider this as a percentage it is just under four percent of the total sent.
Here at OrbitRemit we dont think it is fair that hardworking people trying to make payments towards there loans should be charged such high fees and given such low exchange rates. We are committed to working with the Inland Revenue Department in providing the most cost effective way to make payments towards New Zealand student loans.
For more information please visit our site at www.orbitremit.com and select the country you are in.
It seems that student loan debt and overseas borrowers in particular are really in the sights of the government at the moment;
http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10670936
We remind you again that if you need to make a re-payment towards your outstanding New Zealand student loan debt we can help you to make the payment free of charge. Here at OrbitRemit we charge no transaction fee and offer rates superior to the banks. Please visit our site at https://www.orbitremit.com/uk/orbitremit-payment-options/send-money-to-new-zealand/tax-account-student-loan for more information.
Came across an interesting article published in New Zealand last week. It would appear that the government is becoming increasingly keen to try and actively re-coup some of the 11 Billion dollars currently outstanding as student loans. Whether we here at OrbitRemit agree or disagree with them targetting overseas borrowers is beside the point we are simply here to try and make it as easy and economical as possible to make payments to your loans from overseas. All new customers who make a pament towards their student loan through OrbitRemit will be able to do so for free until the end of October.
We realise how hard it is to make these payments and this is our way of trying to alleviate some of the headache and financial pain of doing so. Based on the article below it would appear that the tactic of simply ignoring the student loan is going to be fraught with more and more ramifications upon returning to New Zealand.
If after reading that you think you might want to make a payment towards your loan please visit our site for more information on how to make a free payment through OrbitRemit.
Unlike swine flu or a European suntan, a student loan is something that won’t go away after a week or so. We know that for many of you out there the thought of commencing repayments on your loan seems like a mountain too high to climb. The harsh reality is that the longer you leave it to start making payments the higher that mountain gets.
It is hard to believe, but the highest rate of interest that can accrue against your loan, if your obligatory payments are not met, is 19.65% per annum, that’s even worse than the rates offered on most credit cards. In consideration of this it really is worth biting the bullet and starting to chip away at that loan.
Unlike swine flu or an Australian suntan, a student loan is something that won’t go away after a week or so. We know that for many of you out there the thought of commencing repayments on your loan seems like a mountain too high to climb. The harsh reality is that the longer you leave it to start making payments the higher that mountain gets.
It is hard to believe, but the highest rate of interest that can accrue against your loan, if your obligatory payments are not met, is 19.65% per annum, that’s even worse than the rates offered on most credit cards. In consideration of this it really is worth biting the bullet and starting to chip away at that loan. (more…)
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