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Drafts
DRAFTS
A draft is a cheque drawn on a foreign bank issued in the currency of the country of the bank.
  • Drafts are predominantly used for paying land arrangements
  • Drafts are crossed and cannot be cashed
  • Drafts that are deposited into an overseas bank account will attract charges and a clearance period will ensue
  • A draft must be made out to either the traveller or to the company to which land arrangements are being paid

 

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