Foreign Draft

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Dictionary Says

Definition of 'Foreign Draft'

An alternative to foreign currency. A foreign draft is a bank draft which is drawn on a financial institution in the country of currency. They can be purchased at commercial banks and usually have a fee depending on the institution and the type of account you hold.
Investopedia Says

Investopedia explains 'Foreign Draft'

Foreign drafts are generally used to send money to a foreign country. This method is cheaper and safer than sending the currency itself. It also enables the receiver to access the funds quicker than if a draft or check were written in U.S. currency. Further, it is less expensive and requires less information (such as the routing transit number) on the purchasers part than a wire transfer.
Search results for

'Foreign Draft'

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    http://financialedge.investopedia.com/financial-edge/0411/7-Low-Cost-Ways-To-Transfer-Money.aspx
    ... choices when it comes to physical transfers that are being sent in foreign currencies ...
    Because of this, the cost of purchasing a bank draft is often higher than ...

  • Should You Pay In Cash?

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    ... seem to enjoy a protected status despite the overkill on ATM fees and foreign ATM
    fees ... is often not an option and writing a check or getting a bank draft may be ...

  • International Reporting Standards Gain Global Recognition

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    ... 55% of those polled disagreed with the SEC's proposal to let foreign firms file ... when
    it issued a request for comment on an exposure draft for International ...

  • Money Market: Banker's Acceptance | Investopedia

    http://www.investopedia.com/university/moneymarket/moneymarket5.asp
    ... a negotiable time draft for financing imports, exports or other transactions in
    goods. This is especially useful when the creditworthiness of a foreign trade ...

  • Antitrust Defined

    http://www.investopedia.com/articles/04/040704.asp
    ... to 'big business', or monopolies, that dominate the local and foreign market share ...
    Act John Sherman, Ohio lawyer and senator, was compelled to draft the Sherman ...

  • Coastal Drilling Coming Eventually

    http://stocks.investopedia.com/stock-analysis/2010/Coastal-Drilling-Coming-Eventually-BP-CVX-APC-PXP-ME0301.aspx
    ... In January 2009, the Minerals Management Service announced a draft of a new leasing ...
    years, it is vital to help reduce American dependence on foreign oil sources ...

  • I have a short period of time (1 year or less) during which I will ...

    http://www.investopedia.com/ask/answers/109.asp
    ... a negotiable time draft for financing imports, exports or other transactions in
    goods. This is especially useful when the creditworthiness of a foreign trade ...

  • A Look At Government Bonds And National Debt

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    ... is sold in the form of securities to both domestic and foreign investors, as ... become
    a key institution working with financial institutions to draft new policies ...

  • Series 6 Study Guide - Investment Securities - Corporation and ...

    http://www.investopedia.com/exam-guide/finra-series-6/investment-securities/corporate-financial-institution-instruments.asp
    ... Acceptance Notes - A banker's acceptance is a short-term time draft drawn on ... typically
    use bankers' acceptances to buy goods and services in foreign countries. ...

  • Series 6 Study Guide - Securities Industry Regulations ...

    http://www.investopedia.com/exam-guide/finra-series-6/securities-industry-regulations/securities-act-1934.asp
    ... privilege entered into on a national securities exchange relating to foreign currency,
    or ... foregoing; but shall not include currency or any note, draft, bill of ...

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