How to Send a Bank Draft

Unlike checks, bank drafts are equivalent to cash.

Bank drafts are a secure method to transfer money domestically and abroad for personal and business matters. Bank drafts can only be deposited into an account owned by the recipient. Unlike a check, the money is instantaneously transferred upon deposit. International banks treat verified banking drafts as if they were made locally. When sending bank drafts, notify the recipient, so that there's no chance that the draft could be lost or stolen.


Step 1

Check your bank account balance before asking for a bank draft. Your bank will create a bank draft only if you have all of the funds available at the time of the draft. Check to see that you have no pending transactions on your account.

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Step 2

Visit your bank and ask to create a bank draft. Your bank may also have an online draft service from which you can send money. To create a bank draft, you need your account number, identification, the amount to draft and the name of the person receiving the draft. If you'll be sending the draft online, you'll need the address of the recipient as well. Banks usually charge a fee of a few dollars for bank drafts. The teller will print out a slip of paper that looks like a check and hand it to you. If submitting the draft online, the bank will mail the draft on your behalf. Check that the recipient name on the draft matches the name of the person to whom you're sending the draft.



Step 3

Mail the bank draft to the recipient, if you didn't use an online method. Ask for shipping insurance in the event that the draft is lost. Without shipping insurance, you could lose the entire sum if there's a mailing mishap. After the recipient signs for the draft, she can deposit it at her bank. Your bank draft will work at international banks.


Your draft recipient may have to pay a fee to her bank to deposit the draft into her account.



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