Sending Money via Draft
How does a Draft work?
A Draft is like a bank cheque made out in a foreign currency. It’s another way for you to make payments and settle a transaction overseas, especially if you don’t have the receiver’s electronic bank account details. Drafts can be sent overseas via mail and are available in a wide range of currencies.
Why should I use a Draft?
- Access to more than 25 currencies. Click here for more details.
- Can be enclosed with letters or invoices and forwarded direct to the payee
- Should your Draft go missing in transit, upon your notification, Western Union Business Solutions will normally be able to put a stop on it and issue a replacement. Conditions apply.
- Offers security around payment – Drafts are a non-negotiable instrument and can only be credited to the payee’s bank account, unless the payee has endorsed the draft.
What transfer details do I need to supply?
- For us to arrange the draft you will need to provide us the details of the person you’re sending the money to (beneficiary).
- Person’s full name
- Person’s full street address
- Any special instructions for the transfer
- Currency and amount
How do I arrange a Draft?
- Send us a secure email from within Online Banking
- Fax the transfer details to: [sc name=”Company_Phone_Fax”]
Drop into your nearest branch