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.
Arranging a draft
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
Simply drop into your nearest Queensland Country branch.
Costs and fees
|Draft stop payment||$15^|
^ 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.
- Access to more than 25 currencies.
- 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.
The fine print
The financial products referred to in this communication are provided by Western Union Business Solutions (Australia) Pty Ltd ABN 24 150 129 749 AFSL 404092, trading as Western Union Business Solutions (“WUBS”), under its agreement(s) with your Financial Institution. 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 PDS is available for each financial product issued by WUBS from your Financial Institution or on the compliance section of our website. Any advice provided above is general and does not take account of your personal objectives, financial situation or needs.
This communication has been prepared solely for informational purposes and does not in any way create any binding obligations. The relationship relating to the financial products referred to in this communication are solely between you and the Financial Institution. No representations, warranties or conditions of any kind, express or implied, are made in this communication.
Western Union Business Solutions is an operating division of the Western Union Company. Western Union is the issuer of the financial products referred to in this communication.