Need to send money via a Draft?
A Draft is a company cheque made out to your nominated recipient in a specified single currency. It’s another way for you to make payments and settle a transaction overseas.
Drafts are convenient if you do not have the recipient’s electronic bank account details.
Potential benefits to you:
- Send a Draft via mail
- Drafts are available in more than 24 different currencies
When might I use a Draft?
- When you don’t know the recipient’s bank account details
- When you’re sending a small amount of money
- When you want to send a payment by mail with a letter, card or invoice
Things to note:
- Drafts are non-negotiable and can only be credited to the beneficiary’s bank account (unless the beneficiary has endorsed the Draft in favour of another payee).
- In certain circumstances, Drafts can be stopped if missing in transit. Western Union Business Solutions may be able to place a stop on the Draft and issue a replacement. Conditions apply.