Cash letters (incoming foreign currency drafts)

Incoming foreign currency drafts are processed weekly by Financial Shared Services.

To ensure the best rate is achieved and to minimise the transaction costs, incoming foreign currency drafts are processed in 'batches', unless there is an urgent requirement and the face value of the incoming foreign currency drafts is sufficient to warrant an individual transaction.

A separate batch of up to 5 drafts is processed for each currency, the batch limit is set by the ANZ.

There is a charge of $15 per batch which will be apportioned depending on the number of drafts in the batch.

Please ensure that incoming foreign currency drafts are received by Financial Shared Services by COB Tuesday to ensure that the transactions are receipted to the ledger by Friday.

Urgent deposits can be processed by making an email request to us. All budget units should note urgent deposits will generally attract a less attractive exchange rate and will have an individual transaction cost of $10.

Please Note:

  • Most foreign drafts are stale after 6 months (some after 3 months). Please check that the draft is not stale before sending to Financial Shared Services.
  • Ensure that you have provided a charge code to allow receipting of the proceeds and charges.