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International Drafts

  • Sending money via International Draft

    An International Draft is like a bank cheque made out in a foreign currency, and is an affordable means of sending money overseas.

    Sending money via an International Draft is best if you don’t have any time constraints and don't have the bank account details of the payee. They can be a good option if you are happy using the mail and you don’t need the funds to be paid directly into an account. 

    International Drafts are also non-negotiable and can be enclosed with letters, invoices, birthday or Christmas cards. If lost or stolen, a draft can usually be stopped and a new one issued, just as long as it hasn’t been presented.

     

    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 20 currencies. Click here for more details.
    • Can be enclosed within letters, birthday or Christmas cards or invoices and forwarded direct to the payee
    • Should your Draft go missing in transit, upon your notification, Defence Bank will normally be able to put a stop on it and issue a replacement. Conditions apply – click here for a Drafts Product Disclosure Statement.
    • 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 to info@defencebank.com.au outlining your request or 
    • Drop into your nearest branch

    Once you have made contact with Defence Bank and obtained an order form, please note the following:

    • All address details must be full street addresses (PO Box addresses are not acceptable)
    • No symbols can be used in the beneficiary name (e.g. '&”, '/” etc)

     

    Receiving money via Foreign Cheque

    Conversion of Foreign Currency Draft / Cheque

    If you have received a Draft / Cheque in a foreign currency, Defence Bank, will usually be able to convert it into Australian Dollars for credit to your account.

    Typically, personal, bank, company or government foreign currency cheques can be converted (although money orders are not accepted). Conditions apply. Speak to a branch staff member for further information.

    Cheques can be converted from a range of foreign currencies - click here for further details.

     

    Click here for the Western Union PDS

    Click here for a list of Foreign Currencies

     

    Disclaimer

    Drafts are offered by WUBS. If you are seeking to acquire Drafts, it is important for you to consider the Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not that financial product is right for you. The Drafts PDS is available from Defence Bank or on the compliance section of the WUBS website (http://business.westernunion.com.au/).

    This communication has been prepared solely for informational purposes and does not in any way create binding obligations. No representations, warranties or conditions of any kind, express or implied, are made in this communication.

    WUBS is an operating division of the Western Union Company.

  • To view fees for International Drafts, click here.




    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 Defence Bank. 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 Defence Bank or you can view it here. 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 Defence Bank. 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.
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