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A Bank Draft is a cheque, in a foreign currency, that can be sent to an overseas recipient for payment into their bank account.

Like to know more?

Bank Drafts are a great way to send money overseas for special occasions such as Christmas and birthday presents. 

They provide security of payment as they are non-negotiable and can only be credited to the recipient's bank account. As with a normal cheque, the recipient has to deposit the Draft into their bank account for clearance.

Why use a Bank Draft?

  • Drafts can be enclosed with letters or invoices and sent direct to the recipient.
  • They are an economical way to transfer funds to a specific company or person overseas.
  • They provide security of payment as they are non-negotiable and can only be credited to the recipient's bank account.
  • There will normally be no fee for the recipient to deposit a Draft, making them a cost-effective alternative to telegraphic transfers (which are subject to fees being deducted by intermediary banks).
  • If a Draft is lost or stolen, it can usually be stopped and a new Draft issued. However, it is important to note that a Draft can only be stopped once it has been confirmed that it has not yet been presented for payment. If a Draft has been presented for payment, it cannot be stopped.

What currencies are Drafts available in?

You can get a Draft in any of the following currencies:

CurrencyCodeCurrencyCode
British Pound GBP New Zealand Dollar NZD
Canadian Dollar CAD Norwegian Kroner NOK
Danish Kroner DKK Singapore Dollar SGD
Euro EUR South African Rand ZAR
Fijian Dollar FJD Swedish Kroner SEK
Hong Kong Dollar HKD Swiss Franc CHF
US Dollar USD United Arab Emirates Dirham AED
Japanese Yen JPY  Kenyan Shilling KES
Thai Baht THB Philippine Peso PHP
Tahitian Franc XPF Bahrain Dinar BHD
Saudi Arabian Riyal SAR UAE Dirham AED
Mexican Peso MXN Australian Dollar AUD

Please note that Drafts are not available in Australian Dollars (AUD).

Ready to order?

To order a Bank Draft call in to your local Bank of us branch.

Draft orders received before our 14.30 AEST cut-off time will be dispatched same-day by Express Post. Subject to your location, the Draft will be delivered next working day. Please note Drafts can, if desired, be sent to your home or workplace.

If you do not receive your Draft within your expected timeframe please call in to your local branch – we will check your order consignment number with Australia Post and advise it’s location.

What details do I need to order a Bank Draft?

  • Sender’s Full Name (note – must be full name, no initials)
  • Sender’s Address (must be street address – PO Box address is not acceptable)
  • Payee/Beneficiary Name (ie who the draft is to be made payable to)
  • Payee/Beneficiary Address (must be street address - PO Box address is not acceptable)
  • Currency the draft is to be issued in
  • Amount the draft is to be made payable for
  • Purpose of Payment (this can be entered in the User Reference field in the online ordering system)
  • Please note that the following characters cannot be used: ! @ # $ % ^ & * ( ) _ + { } [ ] | \ < > ? (As an example: instead of making a draft payable to "HM Revenue & Customs", it will need to be written "HM Revenue and Customs").

Product Cost (GST inclusive)

Drafts $20
Drafts - Stop Payment         $15

Fees are payable at the time your order is placed.

The small, small print:

Please keep in mind that if the Draft was originally issued in a foreign currency, Western Union Business Solutions will have to convert the funds back into AUD (using the prevailing “buy” rate, rather than the original “sell” rate) in order to refund you. There may be a difference in what you receive back due to this difference in exchange rates.

Traces will be conducted free of charge unless it transpires that funds were credited to the beneficiary account prior to the trace being requested.

The financial products (Drafts and Telegraphic Transfers) referred to are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 40409, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with Bank of us. Fees & Charges and Terms & Conditions apply.

It's important for you to consider the relevant Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not a financial product is right for you. A Draft PDS is available for each financial product issued by WUBS from Bank of us or on the compliance section of our website http://business.westernunion.com.au/about/compliance/. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.

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