Sending Money Overseas

[FlamesAddiction]

Maybe someone can help me here. I know a few of you do some international business.

I have to send money to Europe (in Euros) for some books I have purchased from a learning institution. In the invoice, it says to pay by "bank draft", but then it has the name of a bank and a "SWIFT" account number.

When I went to the bank, they said that the "SWIFT" account number suggests that it should be a direct deposit, but that a bank draft in like a money order that I should mail. Is anyone familiar with doing business through SWIFT accounts?

The teller said she could make a bank draft to the bank payable to the account number, however she can only do it in CAN dollars or USD - not Euros.

Does the term "bank draft" mean direct deposit as well?

Unfortunately, the language barrier is playing a negative roll here. I can't seem to figure out what they want, and they don't know what I am asking.

[ken0042]

Have you tried another bank to see if they can give you a draft in Euros? Maybe even a more "international" type of bank like HSBC or something.

[Canada 02]

SWIFT is the same as telegraphic or wire transfers. It is the safest and fastest way to transfer funds overseas - I've done it many times. You will need the account name (person or company you are paying), the bank account number, name and address of their bank/branch and the SWIFT code. I know TD Bank does wires and bank drafts in many currencies including Euros - I'd be amazed if the big 5 didn't all do this. I should note that it is pricey - about $20+ for the service if I recall correctly. It might be cheaper to get a Euro bank draft then send it securely (if that's an issue) via registered mail

[FlamesAddiction]

Thanks for the help guys.

I actually found another way around it. I was trying to buy books from Croatia, and I figured I'd try to find someone to help me. I called the Croatian Catholic Church in Vancouver, and the priest said he is actually going to Zagreb on Tuesday and he knows the exact book store. He is going to pick them up for me and I can pay him when he gets back at the end of the month.

Sometimes things just work out.