Making Large Purchases with Bankers’ Draughts
Because of their security and guaranteed payment, bankers’ draughts are frequently used for large purchases, especially when a bank holiday is in effect, and other types of cheques, like regular cheques, may experience delays.
This can be especially useful when an immediate bank-to-bank transfer is neither practical nor feasible.
For purchases made internationally, you can use an international bank draught. However, because it can affect the final cost, it’s essential to comprehend the exchange rate in place at the time the draught is issued.
In addition, Bankers’ Draughts may be subject to higher bank fees than other forms of payment, which could lead to astronomical bank fees.
Bank draughts have no maximum amount and can be issued for large sums. They are, therefore, a popular choice for significant transactions, such as real estate purchases or money transfers.