Cash letters are processed weekly by Finance & Business Services.
To ensure the best rate is achieved and to minimise the transaction costs, cash letters are processed in 'batches', unless there is an urgent requirement and the face value of the cash letter 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 National Australia Bank.
There is a charge of $15 per batch which will be apportioned depending on the number of drafts in the batch.
Please ensure that cash letters are received by Financial Operations 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.
- Most foreign drafts are stale after 6 months (some after 3 months). Please check that the draft is not stale before sending to Finance & Business Services.
- Ensure that you have provided a charge code to allow receipting of the proceeds and charges.