This should make the transaction faster for crediting of funds. On the
U.S. end, if there is no affiliation with a bank in the U.S. it is "sent
for collection" to the originating institution, which increases the time
for it to clear and funds to be credited. Note that this is _very_
different from "collection" on a bad check or debt.
The turnaround time depends on where it must be sent. I encountered this
when accepting an international postal money order from Japan. In my case
they were routed to the Japanese equivalent of our USPS. It was very
smooth, and there was no charge for this, but it did take a little over 2
weeks. Not certain how this would work in Oz, but would suspect there must
be something similar for IMO's from a bank not affilated with any in Oz.
-- John
At 16:54 10/28/00 , Giles wrote:
>
>I know the ANZ uses Citibank in many countries for their bank drafts. It
>would be reasonable to assume that if someone in the US approached
>Citibank for a bank draft in AU$ they would likely be able to provide one
>drawn on the ANZ in Oz.
>
>Giles
>
>Wayne Harridge wrote:
>
>> You should be able to do the equivalent in the US, obtain a bank draft on
>> an Australian bank (any Australian bank would probably be ok).
>
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