CXI offers foreign draft issuance to financial institutions and corporations as one of its many foreign currency exchange services. Issuing drafts denominated in a foreign currency ensures client's foreign invoices are paid with accuracy. The local bank receiving the draft doesn't have any currency conversion, as well, is able to clear the funds quicker than a USD check.
Foreign bank drafts are available in the most frequently demanded currencies as a low cost international payment option. Financial institutions and corporations find creating foreign drafts for international payments is an incredibly simple process through the CEIFX software. Drafts generally require less information than an international wire transfer, and are a safer alternative to sending cash in the mail overseas.
Learn more about how CXI's Foreign Draft Issuance service can help your financial institution.