About international bank drafts


  • Can be cleared like a local cheque, meaning beneficiaries receive their money sooner
  • Drafts can’t be cashed and must be deposited into an account
  • The beneficiary has to pay the costs associated with the presentation of the draft. Costs vary from country to country (and often bank to bank)
  • Drafts presented in the local currency of the beneficiary are generally subject to lower fees than drafts presented in another currency
  • Drafts can be repurchased if they are lost or returned. If they are converted back to Australian dollars, the foreign exchange rate current at the time of repurchase will apply, in addition to the repurchase fee.

Related products

International money transfer

Send electronic payments quickly and securely from Australia to banks in more than 200 countries.

Learn more

Foreign exchange service

We offer a comprehensive foreign exchange service and competitive exchange rates.

Learn more

Talk to us

Call 1800 222 398

Call 1800 222 398

New Foreign Currency Account enquiries

(8:30am-5:00pm AEST, Mon-Fri) 

Important information

As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. View our Financial Services Guide (PDF 59kb).