Commercial Loan Officer Question:
Download Questions PDF

Explain me what do you mean by ‘foreign draft’?

Answer:

Foreign draft is an alternative to foreign currency; it is generally used to send money to a foreign country. It can be purchased from the commercial banks, and they will charge according to their banks rules and norms. People opt for ‘foreign draft’ for sending money as this method of sending money is cheaper and safer. It also enables receiver to access the funds quicker than a cheque or cash transfer.

Download Commercial Loan Officer Interview Questions And Answers PDF

Previous QuestionNext Question
Explain me what are payroll cards?Explain me what is ‘Cheque Discount’?