Sending money overseas – Foreign Currency Drafts

If you need to send money overseas, QSCU can arrange a foreign currency International Draft to be posted to a nominated address.

How do they 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 if you don't have the electronic bank account details. Drafts can be sent overseas via the mail and are available in a wide range of currencies.

Benefits of Drafts:

• Preferential exchange rates for QSCU Members
• Access to over 70 currencies and countries
• They can 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 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 can be 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.

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 telegraphic transfer or draft?

Download a form below or follow the details below.

• Fill in the application form provided below
• Send us a secure email from within Online Banking
• Fax us the transfer details to: 02 9582 3259
• Drop into your nearest branch

Receiving foreign currency drafts

We can even arrange for drafts in a foreign currency to be deposited into your QSCU account and converted to Australian Dollars.
Please contact us to find out how.

_{We will contact you to explain the process and fees that apply. Please refer to our Fees and Charges Brochure for more information about this service.}

_{This is general advice and has been prepared without taking into account your objectives, financial situation, or needs. You should read and consider our Financial Services Guide (FSG) before opening an account. Travelex GBP Australia Pty Ltd ABN 24 150 129 749 AFSL 404092 (Travelex) is the issuer of the financial products referred to in this communication. Before you decide to acquire a financial product from Travelex you should read and consider the relevant Supplementary Product Disclosure Statement (SPDS) is available for each of the financial products that Travelex issues. Travelex is a registered trademark and is used by Travelex Global Business Payments Limited under license.}

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