Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the difference between a wire transfer and a draft?

draft transfer wire
0
Posted

What is the difference between a wire transfer and a draft?

0

International wire transfers are typically sent out over an international communications system known as SWIFT, and settlement is arranged between individual banks. A foreign draft is like a cashiers check in local currency drawn on an account maintained by TD Banknorth. While sending a wire internationally is different than sending one within the U.S., it’s much faster than purchasing a foreign draft. However, if you are unable to obtain the banking information of your recipient required to arrange a wire transfer, then a foreign draft is your best choice.

Related Questions

Thanksgiving questions

*Sadly, we had to bring back ads too. Hopefully more targeted.