Need to send money via a Draft?

A Draft is a company cheque made out to your nominated recipient in a specified single currency. It’s another way for you to make payments and settle a transaction overseas.

Drafts are convenient if you do not have the recipient’s electronic bank account details.

Potential benefits to you:

  • Send a Draft via mail

  • Drafts are available in more than 24 different currencies

When might I use a Draft?

  • When you don’t know the recipient’s bank account details

  • When you’re sending a small amount of money

  • When you want to send a payment by mail with a letter, card or invoice

Things to note:

  • Drafts are non-negotiable and can only be credited to the beneficiary’s bank account (unless the beneficiary has endorsed the Draft in favour of another payee).

  • In certain circumstances, Drafts can be stopped if missing in transit. Western Union Business Solutions may be able to place a stop on the Draft and issue a replacement. Conditions apply.

Disclaimers: © 2019 Western Union Holdings Inc. All rights reserved.
Transport Mutual Credit Union has entered into arrangements with Western Union Business Solutions (Australia) Pty Limited (ACN 150 129 749; AFSL 404092), trading as Western Union Business Solutions (“WUBS”) whereby WUBS offers Drafts directly to our members. Other financial products are provided to you by us. We have appointed WUBS to assist in facilitating some financial products. Please note that fees, charges and terms and conditions apply and may vary depending upon the financial product. If you are seeking to acquire Drafts, it is important for you to consider the Product Disclosure Statement (“PDS”) and any other relevant WUBS documents before you decide whether or not that financial product is right for you. Any advice provided is general in nature and does not take into account your personal objectives, financial situation or needs. WUBS does not give you any advice, general, personal or otherwise. Any advice provided, is provided by us or your adviser. This communication has been prepared solely for informational purposes and does not in any way create binding obligations. No representations, warranties or conditions of any kind, express or implied, are made in this communication. WUBS is a business unit of the Western Union Company.

Why choose Transport Mutual Credit Union?