Foreign Bank Drafts and Cheques
In a global marketplace where our clients are dealing with suppliers in a foreign country and required to pay their bills in a foreign currency, issuing bank drafts and cheques in the required foreign currency is the most prompt and economical way to pay these obligations. Your foreign partners do not want to receive foreign funds and then wait weeks to be paid. The last thing our customers want is to be issuing a domestic draft/cheque and then waiting weeks for this to clear. Offering your trading partners foreign drafts in their currency will ensure your cheques are cleared immediately and you can reduce the time required to access the funds.
What happens if your international partners pay you with a foreign draft/cheque? Axiom can collect these funds for you and either convert immediately, or keep the funds on consignment on your behalf. Our clients enjoy the ability of being able to accept foreign drafts/cheques so they are paid in a timely manner and feel secure about their international business relationships.
- Ask your Axiom Associate for more details.
- Drafts and cheques are available free of charge.
- Expeditious and economical way to pay foreign payables.
- Receive foreign funds more promptly than the bank (some financial institutions will not release foreign drafts/cheques for up to 4-6 weeks).