I am currently in the USA and have to send money to an Australian university that only accepts checks/drafts in Australian dollars. Every bank that I checked with said that they don't do Demand Drafts, but only cashier's checks. The problem is that cashier's checks are only in American dollars. How can I go about sending funds in Australian dollars?
Foreign drafts can be purchased from most large banks with foreign banking or remittance departments. You may find that you'll need to visit a city with branches of such banks to get what you need.
Some local banks have correspondent relationships with larger banks with foreign departments. Often, those correspondent relationships aren't advertised, so you may have to contact area banks by telephone to see if a foreign draft can be purchased using a correspondent relationship.
If you google "foreign drafts", you will find that U.S. Bank has international banking offices in several U.S. cities. Other banks to check out include Citibank and HSBC. You may also find that it's easier to wire funds to the university, even from a local bank. Email the bursar's office to find out, then start with local banks to find out if they can send a wire transfer denominated in Australian dollars.
Published on BankingQuestions.com 6/05/08
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Foreign drafts can be purchased from most large banks with foreign banking or remittance departments. You may find that you'll need to visit a city with branches of such banks to get what you need.