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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.
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.
You can get a Draft in any of the following currencies:
|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).
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.
|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 their website. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.