If you are looking for a cost effective way to send money overseas, then consider sending your funds via a draft.
If you have no time constraints, are happy using the mail and you don’t need the funds to be paid directly into an account, then a Draft would be suitable.
How do they work?
A draft is like a bank cheque made out in a foreign currency. It’s a very easy and affordable way for you to make payments or settle a transaction overseas. Drafts can be sent overseas via the mail and are available in a wide range of currencies.
Talk to us today about how we can help you sell and repurchase foreign documents.
Benefits of Drafts
Drafts may be enclosed with letters or invoices and forwarded direct to the Payee.
- If a draft is lost or stolen the draft 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 the draft has not already been presented for payment. If a draft has been presented for payment it is not possible for it to be stopped
- A Draft is an economical method of transferring funds to a specific company or person overseas.
- A Draft provides security of payment as it is a non-negotiable instrument and can only be credited to the Payee’s bank account unless the Payee has endorsed the draft.
Document Purchases
If you have a foreign document i.e. an overseas pension cheque, a foreign draft, travellers cheques left over from your holiday, or a foreign cheque you have received for goods or services, we can assist. Working in conjunction with our partners Travelex, we can arrange the cashing of these documents as you require.
This is a very handy service if you are a regular traveller dealing in foreign cheques or your salary is paid by cheque from a foreign bank. If you would like to know more about this service, talk to us today.
Cash Repurchase
We can repurchase cash from you, once you have returned from your overseas holiday. We offer a fast and efficient service and the funds are credited to your account overnight. We accept a large range of currencies for repurchase.
How to order?
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Travelex Limited (ABN 36 004 179 953, AFSL 222444) is the issuer of, or may arrange for, the issue of these products to you. For further details, Product Disclosure Statements (PDS) are available and can be obtained from ECU, or can be viewed at www.travelex.com.au. You should review the relevant PDS before deciding to acquire the product.
For further information, please refer to the relevant (Telegraphic Transfers and Forward Exchange Contracts) Product Disclosure Statement (PDS). The information contained in this document has been prepared without taking into account your objectives, financial situation or needs. You should read the PDS and consider the appropriateness of International Payments in relation to your individual requirements. International Payments are arranged through American Express International, Inc. (ABN 15 000 618 208, AFSL No. 237996). Incorporated with limited liability in Delaware, USA. ® Registered trademark of American Express Company.PDF can be found here.
