Foreign Currency Drafts
Product Features
- Forex drafts payable, are currently done only in USD.
- Drafts payable are processed within 30 minutes from the time of receipt of application by international department, and they can thereafter be picked from international department by staff from respective branches for final delivery to the customer.
- No limit to the amount of the draft payable, subject to availability of funds on account.
- Cancellation/ replacement of drafts: All requests for cancellation should be put in writing and forwarded to international department. Customers are charged for this.
- Cancellation is only possible if the draft has not yet been presented by the beneficiary.
- Charges as per the bank tariff guide at all bank branches.
Benefits
- Fast, safe and reliable.
- Facility convenient for movement of large sums of funds.
- Low risk of forgeries.
- Worldwide coverage.
Requirements
- Applicant must be an account holder.
- Must have enough credit balance to cover draft amount, the transfer & charge.
- Applicant must have the full names and address of the beneficiary.
- Applicant name, address and telephone number.