Best way to cash a draft in AU$

O

Opus2018

Registered User
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109
Hi there,

Just wondering what’s the best way to cash a draft in AU$?

I (foolishly, as it turns out) went to PTSB and while I was told it needed to go back to Australia, it appears that they don’t know when it might be credited to my account. Initially I was told 4 weeks, only to be told today it could be 60 working days - even more.

I then tried to get in contact with the FX department in PTSB but can’t get through (even with the good offices of the open24 staff.

I know the cheque hasn’t been cashed so I guess I can go back and see if I get can it re-issued.

Anyway, all advice gratefully received.

Best,

Opus2018
 
I'm confused.
You mention a draft but later mention a cheque.
Maybe you can clarify?
 
Opus2018 said:
Just wondering what’s the best way to cash a draft in AU$?
...I know the cheque hasn’t been cashed so I guess I can go back and see if I get can it re-issued.
Click to expand...
I still don't understand the above.
It seems to the to two different things - a draft and a cheque.
 
ClubMan said:
I still don't understand the above.
It seems to the to two different things - a draft and a cheque.
Click to expand...
Hey Clubman,

Apologies it’s a dividend cheque from a company.

Sorry about the confusion on my part. The other thing is that I know it has been presented for payment..

Best,

Opus
 
Kind of doesn't matter, bank will send cheque/draft for special collection which involves posting it back to bank it came from and waiting for a transfer of funds to be made, can be very variable time frame. Extremely inefficient way to get funds these days but direct transfers may be more complicated when different currencies.
 
Could you email the registrar and enquire if you return cheque to them, would they then EFT the funds? You will probably still have fees, but no delay.
 
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