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What is a draft?
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A draft is like a bank cheque made out in a foreign currency. It’s an 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.
If you have no time constraints, are happy using the mail and you don’t need the funds to be paid directly in to an account, then a draft would be suitable for you.
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Why choose a draft?
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- 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. 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.
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How do I order a Draft through Community First?
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Simply call 1300 13 22 77 or visit your nearest Financial Services Store.
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Travelex Limited (ABN 36 004 179 953 AFSL No. 222444 Contact Number 1800 673 453) is the issuer of travellers cheques. We receive commission on Travelex products. Details of the commission we receive can be found in our Financial Services Guide. You will receive a Product Disclosure Statement from Travelex Limited when the product is issued.
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* Before acquiring a foreign draft, you should refer to Travelex’s Drafts Product Disclosure Statement and the accompanying Financial Services Guide.
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