Cashing a returned euro bank draft

[rheinie]

I sent a Euro bank draft to a friend for a small amount .When he went to bank the charge for cashing it was so much that he was loosing a large amount on the exchange.I have now sent him the cash by post and he will return the euro draft to me .Will my bank accept this draft even though it is made out to a third party and will there be a charge for it.

 

[Snork Maiden]

hey Rheinie,


a) Do you have your receipt?

b) Did you draw the money out of your bank account when you purchased the draft? (bank will of record of withdrawal)

If the answer is yes to above then yes the bank will refund you the draft. Alternatively your friend should have endorsed the draft and you could have lodged it to your account???? But I suppose thats too late now.

 

[rheinie]

Thanks yes I guess you,ve answered question and will wait until draft is returned to me

 

[Ravima]

if you have the receipt, then you should only be at a loss of the fee involved.

 

[Bank Manager]

Yes. Go back to the Branch where you purchased the draft. You will have to lodge draft to your account, but will be able to draw on same immediately.

Regards,

BM