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
| Service | Price |
|---|---|
| Draft order | $15 |
| 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.
Features
- 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.