3 Jan 2014

New Caledonia bank fees cut

3:08 pm on 3 January 2014

Banks in New Caledonia have cut fees as of the beginning of this month in response to government pressure.

An agreement signed by the territory's banking sector and the French high commissioner has lowered the cost of keeping an account and of online fees.

The change was pushed by the French prime minister, Jean Marc Ayrault, who visited Noumea last year.

New Caledonia's bank fees have been 34 percent higher than in France.