VISITORS’ FUNDS.

Manawatu Standard, Volume LIX, Issue 97, 24 March 1939, Page 5

VISITORS’ FUNDS.

UNEXPENDED BALANCES.

POSITION EXPLAINED

Information on tho policy it pursues in dealing with applications by overseas visitors to transfer back unexpended. funds is given by the Reserve Bank, which also corrects a wrong impression that it is more generous in granting travel credits to Australia than elsewhere.

Answering complaints regarding difficulty said to have boon experienced by visitors in transferring from New Zealand balances held by t[i<nn at the end of their stay, tho bank states it, of course, requires a satisfactory assurance to be given that the amount which it is desired to transfer represents unexpended funds previously remitted to New Zealand by or on behalf of the visitor, but subject to this necessary # safeguard no obstacle whatever is, or has been, placed in tho way of such funds being taken out of the country. The bank, however, reserves the right to require that only such funds which were brought into the Dominion through the medium of the banking system may bo taken out through that channel. An impression that preferential treatment was given with funds where persons were travelling to Australia is attributed by the bank to the faet that formerly fares wore included in the amount of the respective permit.