ANZ has introduced a "more affordable" method of remitting money to Pacific Island residents for transfers of small value. ANZ said its "Pacific Money Transfer Card" required two cardholders, one by the sender in Australia and one by the sender in the Pacific. The card issue fee is A$25, with a $2 fee for each transfer through BPay or $3 through ANZ's prepaid website. A World Bank study in 2007 found that fees charged by banks on low value remittances - especially those from Pacific Island workers sending funds back to their families - ranged from 15 to 50 per cent of funds sent. Bank of Queensland yesterday increased its standard variable home loan rate by 10 basis points, according to a report in the Australian Financial Review. Last month the bank made a point of not raising its rates. A statement issued by the bank on February 9 said: "So, BOQ customers, rest easy. We're on your side and trying to do the right thing for you."