Demand Drafts

Overview

Demand Drafts are cheques issued on behalf of a client and are used to make payment overseas in instances where cheques drawn on a local account are not acceptable. Demand Drafts are drawn on funds held at our correspondent account so they clear through the country in which that particular currency is domiciled.

Need more information?

Call us on +1 441 299 5555

Key features and benefits

Negotiable in countries worldwide
Reduction of collection fees and the incidence of deferrals
Advance order by phone or online
Available in all major currencies
Prompt placement of Stop Orders

What you should know

Information required to issue a Demand Draft:

Payee’s name
Payment amount and currency
Debit account name and number