Offshore news !
|Vanuatu To Join The World’s Optical Fibre Internet Backbone|
As part of the Government Vanuatu’s commitment to encourage the development of e-business and IT infra- structure, the Vanuatu Government has thrown it’s full support behind the current Joint Venture project between Interchange Limited, a Vanuatu local IT company and Alcatel-Lucent, the giant French telecommunications company to deploy Vanuatu’s first international submarine cable system linking Port Vila, the capital of Vanuatu, to Suva, Fiji.
Scheduled for completion in mid 2012, this new system will deliver faster, more efficient and cost-effective Internet connectivity to the pacific island nation, while removing the current dependence on satellite and strengthening Vanuatu’s competitive position as an e-business hub.
All banks in Vanuatu do provide Debit card facilities to access funds in your or your company’s account. Each bank's Debit cards have different criteria for the Debit Cards issued. Below is a brief summary of what is offered by each bank.
BRED currently offers an ATM Card which can be linked to a company’s foreign currency account.
However fund withdrawals are limited to local ATMs in Vanuatu for cash in the local currency. This will incur forex cost as well as the normal bank fees.
BRED is currently planning release of a VISA Debit card which can be issued under the same account. This card system is currently in the "TESTING PROCESS".
A fully international Debit card with international access to your foreign currency account is “Coming Soon to an ATM Near You”.