bank mecu - responsible banking

drafts

• saving & investing account rates, fees and charges
• saving & investing account significant terms and conditions

features & comparisons

• Available

  how do they work?

  A draft is like a bank cheque made out in a foreign currency.

  It’s a very 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.

  Note: Before acquiring a Foreign Draft, you should refer to Travelex’s Drafts Product Disclosure Statement and the accompanying Financial Services Guide.

• Available

  available currencies

  Code	Currency	Code	Currency
  AED	United Arab Emirates Dirham	SAR	Saudi Arabian Riyal
  CAD	Canadian Dollar	SBD	Solomon Islands Dollar
  CHF	Swiss Francs	SEK	Swedish Krona
  DKK	Danish Krone	SGD	Singapore Dollar
  EUR	Euro Dollar	THB	Thai Baht (Govt. Restrictions)
  FJD	Fijian Dollar	TOP	Tonga Pa’anga
  HKD	Hong Kong Dollar	GBP	British Pounds
  JPY	Japanese Yen	USD	United States Dollar
  NOK	Norwegian Krone	VUV	Vanuatu Vatu
  NZD	New Zealand Dollar	WST	Western Soma Tala
  PGK	Papua New Guinea Kina	XPF	French Pacific Franc
  PHP	Philippine Peso	ZAR	South African Rand

  Talk to us today about how we can help you sell and repurchase foreign documents.

• Available

  why are Drafts so popular for overseas payments?

  • 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. However, it is important to note that a draft can only be stopped once it has been confirmed that the draft has not already been presented for payment. 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.
• Available

  fees & commissions

  how much do they cost?

  On average the cost is approximately $7.50. However, commissions are subject to change from time to time. To confirm the cost come in and talk to us today. There are fees related to the stopping and re-issue of drafts and you should refer to the Product Disclosure Statement for Drafts.

  The exchange rate that will apply to the purchase of a foreign currency draft varies from day to day and will be determined at the time of order.

• Available

  document purchases

  If you have a foreign document i.e. an overseas pension cheque, a foreign draft, travellers cheques left over from your holiday, or a foreign cheque you have received for goods or services, we can assist. Working in conjunction with our partners Travelex, we can arrange the cashing of these documents as you require.

  This is a very handy service if you are a regular traveller dealing in foreign cheques or your salary is paid by cheque from a foreign bank. If you would like to know more about this service, talk to us today.

• Available

  cash repurchase

  Travelex can repurchase cash from you, once you have returned from your overseas holiday. We offer a fast and efficient service and the funds are credited to your account overnight. We accept a large range of currencies for repurchase and our customer service team are always on hand to assist.

   

want to know more?

call bankmecu on 132 888 or email us at mail@bankmecu.com.au