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.
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.